New Quarterly Rates for new Individual Business
August 20, 2007

New Rates for 2007 4th quarter new Individual business
On August 1, 2007 Regence began implementing a quarterly rate cycle for new business on our Individual and Family plans in Oregon (excluding Clark County and Portability plans).  This will provide members with a 12-month rate guarantee, eliminating any mid-cycle rate changes. 

Rates for new business with policies effective October 1, 2007 through December 31, 2007 have been approved. Q4 rates will increase 5% from the current rates. Members with policies effective from October 1, 2007 through December 31, 2007 are guaranteed these rates for 12 months. Rate sheets (PDF) are now available for download and will be included in sales packets beginning September 1, 2007.

Quarterly Renewal Procedures and Practices
With the recent move to a quarterly rate cycle Regence has made several changes to our rate notification practices.  Regence will notify our agent community of the upcoming quarterly rates six weeks prior to the quarterly change.  We will include rate sheets in our sales collateral for both the current quarter as well as the upcoming quarter 30 days prior to quarterly change.  Both rate sheets will be included for 10 days, after which only the upcoming quarter’s rates will be the only rates available.  The release of quarterly rates is subject to DCBS approval.  Please see the below illustration for further clarification.

Underwriting and accounting practices have not been impacted by the implementation of a quarterly rate cycle.  Applications will continue to go through the same process and effective dates will be assigned based on the approval of an application. 

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