| 2008 Regence BlueCross BlueShield of Oregon Individual Plan 3rd Quarter Rate and Contract Renewals
May 12, 2008
As a valued agent we would like to inform you that we will begin mailing letters to your Oregon Individual clients with contracts that renew in the third quarter of 2008, beginning with July renewals. The letters will be mailed starting May 19th informing members of the Individual plan rate increases which become effective July 2008. Monthly renewals begin July 1 as well. Policies effective on or after August 1, 2007 will renew monthly based on their effective date.
For renewing members, the rate adjustment will average 26%. The member’s adjustment is based on their plan and age. The timing of age band adjustments has been moved to coincide with any annual rate adjustment. In previous years, the age related rate adjustments took place in the month of the contract holder’s birthday. As a result, some of your clients may experience rate increases that are significantly greater than the average above. We have enclosed a revised rate sheet and a sample of the member renewal letter for your reference. Members are also being notified of several state mandated benefits and contract changes that have taken effect. Please refer to the “Oregon Individual Contract Changes” summary below.
For new business, July 1st also marks the start of Q3 rate changes. The rate for new business will be increasing 10.3% from Q2 to Q3. The new rates are effective July 1, 2008. Below is information to help you in assisting your clients.
We believe an active outreach to our mutual members is important in helping them through this renewal. Our sales representatives will begin calling the most impacted members on May 12th. Please note: if a member chooses to change their current plan, we will automatically transfer your agent-of-record.
Regence Individual plans continue to provide great value. We offer a variety of products and deductible options to meet your clients’ health care and budget needs, including low out-of-pocket maximums, the security of BlueCard® for out-of-area services, member access to online support through myregence.com. Regence also offers best in class provider discounts across the state.
For more information contact your sales executive or our sales customer service staff at 1-888-888-3689. Thank you for your business. We value your partnership and are here to support you and your clients.
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