H21 Health – Other

Limited Benefit – Preventive Care

Attached for your review and approval is the Actuarial Filing in support of the above referenced forms, submitted on behalf of Reliance Standard Life Insurance Company. The forms and Actuarial support are new and are not intended to replace any forms previously approved by your Department. The forms have been submitted under separate cover once we have approval for the rates. 
 
The Policy is a limited benefit insurance policy designed to provide coverage for preventive health services described in the Federal Affordable Care Act to persons who are eligible. Coverage for all eligible dependents or just eligible children may be made available as well. The target market is large employer groups in your state. 
 
The company anticipates this product will be sought by large employer groups that have a self-funded plan of health benefits under the Employee Retirement Income Security Act (ERISA) and do not want to take on the additional self-funded risk for expenses related to the preventive care services mandate under the federal Affordable Care Act (ACA). We believe this product is a viable fully-insured option for such employers who wish to have these high frequency preventive benefits covered on a fully-insured basis separate from their self-funded plan experience. 
 
Additionally, there may be large employers that elect not to provide an insured employer-sponsored group contract. In this regard, the product can be a valuable asset for large employers to help manage their obligations under ACA as this benefit design is acknowledged to meet the regulatory requirements for minimum essential coverage under ACA.

Status: Assigned
Percent Change: n/a

HIRFAssigned