CoveredCa Update April 2014
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CoveredCa Update April 2014 Chris Patton Vice President of Sales
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CoveredCa Update April 2014. Chris Patton Vice President of Sales. Open Enrollment Summary. 6. SHOP Enrollment. SHOP Enrollment January through April 960 Groups 6250 lives. Small Business Health Options Program (SHOP). 960 small businesses - PowerPoint PPT Presentation
Transcript of CoveredCa Update April 2014
CoveredCa UpdateApril 2014
Chris PattonVice President of Sales
OPEN ENROLLMENT SUMMARY
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SHOP Enrollment
SHOP Enrollment January through April960 Groups6250 lives
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Small Business Health Options Program (SHOP)
960 small businessesrepresenting over 6200 employees and their
dependents have enrolled for coverage
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Averages5.11 employees per group2.51 dependents per group7.63 enrolled per group
SHOP Overview
What are the products and services offered through Covered California’s SHOP Market?
• Competing Health Insurance Plans• Multiple Coverage Options • Access to Tax Credits• Benefits Administration• Enrollment Support• Expand Employer and Employee Options• Employee only Coverage Available • Multi-lingual Customer Service
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SHOP Overview
SHOP Small Business Health Options Program
Employer Defined Contribution• Employer selects a single tier and contribution percentage• Employer selects a benchmark or defined contribution plan• Employer wins: Predictable costs and set budget
Employee Choice• Employee selects any plan within a single tier• Employee wins: Freedom to choose their own plan
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Participating SHOP Health Plans
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Qualified Health Plans
Plans by Rating Region
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SHOP Agent Commission
• 1st Year 6.5%
• 2nd Year 6.2%
• 3rd Year 5.9%
• 4th Year 5.6%
• 5th Year 5.3%
• 6+ Years 5.0%
SHOP Enrollment
60% General Agent22% Agent Direct18% Consumer Direct
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Certified Insurance Agent
Training & Certification•Registration on-line•In person training 8 hours •Review Training Modules: Agent Tools •Pass The Exam (80%)•Review and Sign Agent Agreement•$58.25 Admin fee•Certified Insurance Agent
Certified Insurance Agents
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Opportunity
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SHOP Sales
Covered California “Halo Effect”What employers are askingEmployer sponsored vs Individual Market PlaceMaking the decision….
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Who is eligible for the Tax Credit?
• Small businesses are eligible for a tax credit if…
o They have fewer than 25 full-time employees
o Their average annual wages <$50,000
o They pay 50% of the premium cost*
• Starting in 2014, tax credits are only available for businesses that purchase through the SHOP
• Tax credits do not cover premium expenses of owners or their families; and cannot be claimed by the self-employed
• Employers are encouraged to consult with their tax professional.
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SHOP Sales
Tax CreditDeducible premiumPre-tax employee premiumEmployee only coverage
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SHOP Contacts
Vice President Chris Patton
Director: Rich Hines- Southern California
Director: Shawn Balsdon-Northern California
Inside Sales Specialists: 844 332-8384
Jake Mooney ([email protected])
David Guevara ([email protected])
Clarissa Sarabia ([email protected])
SHOP Service 877 453-9198
Email: [email protected]
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