Getting a new business underwritten quote for 10 to 99 Fully Insured or Level Funded Premium groups in Ohio just got easier. Beginning July 1, 2021, for September 1, 2021, effective dates, Human is launching the Humana Risk Analytic Engine (HRAE) for all 10 to 99 small groups, regardless of whether it’s a virgin group or the renewal increase. For new medical small business groups 10 to 99 enrolled with less than 100 eligible employees in Ohio, Humana will only require three pieces of information to underwrite using HRAE:
For groups with 5 to 9 enrolled, quote requirements are not changing.
What is HRAE? A learning model designed to predict underlying risk and future claims cost. The model is built on data derived from multiple sources that include, but are not limited to, medical and pharmacy claims data. The HRAE allows Humana to reduce their underwriting requirements, and gives them an accurate view of future risk without the use of burdensome health questions.
Did you know? If your group uses FormFire, you can pull an employee and dependent level census from FormFire! From your Client Dashboard simply locate your client’s profile and then select Generate Census from the orange action bubble to right hand side. In the first drop down select census type Quote Census and in the second drop down select census Humana HRAE Census. Download Census.