Aetna Funding Advantage New Broker Bonus

Aetna Funding Advantage’s new broker bonus rewards brokers who sell groups using Individual Medical Questionnaires (IMQs) from May 1, 2019, to September 1, 2019.

< 10 subscribers 10 + subscribers
$50 bonus per sold sub $25 bonus per sold sub underwritten without IMQs
or
$100 bonus per sold sub underwritten with IMQs
+
$25 admin fee credit for your client per sold sub underwritten with IMQs

Click here to learn more.

*Please note this bonus program does not apply in FL, GA, NJ, MI or MA.
**2 to 50 in PA/TX, 2 to 100 in N. IL, 5 to 100 in CO/CT/KY/LA/OH, 10 to 50 in NV and 26 to 50 in NC.

AFA Now Available for 51–100 Groups in Kentucky

Aetna Funding Advantage is now available for 51 to 100 groups in Kentucky. Review the fact sheet to sell, quote, and enroll with additional bonus dollars available!

Click here to access the fact sheet.

Click here to view the quoting process.

Click here to learn more about the Aetna Funding Advantage bonus program.

UPDATE: AFA Requirements for Applications

To improve underwriting results and competitiveness, AFA is requiring medical applications on groups with less than 25 enrollees beginning May 1 claiming this can potentially save another 10 percent on quotes.

See the notice from Aetna here for more information.

Contact your Cornerstone representative with any questions.

AFA Submission Deadlines

Case submission deadlines for Small Group (5-50) Aetna Funding Advantage

Idaho, Kentucky, Louisiana, Michigan and Mississippi

Aetna’s February effective date deadline is approaching quickly.See below for their new business submission deadlines for February, March and April:

Effective date Signed Employer Application
(Springboard)
Completed Sold Case Documents (Adobe Sign) and Enrollment (Springboard)
February 1 1/28/2019 2/1/2019
March 1 2/26/2019 3/1/2019
April 1 3/27/2019 4/1/2019

Contact your Cornerstone representative with any questions.

New AFA Plans Available

New AFA Plans Available. Aetna released their “Essentials” plans which feature lower cost share on PCP, lab and generic drugs with higher cost share on ER visits, imaging and specialty drugs. These plans run about 10% less than the other plans. Remember, AFA doesn’t limit the number of plans an employer can offer. See more in their flyer and plan grid.

Aetna Funding Advantage 1095-B Tax Forms Are On Their Way

Aetna Funding Advantage groups with 5 to 50 employees will receive 1095-B 2018 tax forms starting the week of January 28. Members can access these forms electronically through the Aetna Navigator or by mail.

Reminder: Members do not need to file their 1095-B forms.

Questions? Contact your Cornerstone representative.

Updates to Aenta Funding Advantage Broker Bonus Program

Aetna has extended its new business bonus for brokers selling the Aetna Funding Advantage product through April 1, 2019, effective dates.

Click here to learn more!

SilverScript Completes Acquisition of Aetna

Silverscript is excited to share that CVS Health, the largest pharmacy health care provider in the U.S., has completed its acquisition of Aetna, one of the nation’s leading diversified health care benefits companies.

The combination of CVS Health and Aetna is a transformative moment for Silverscript and the industry. With the combined capabilities of two leading organizations, Silverscript’s goal is to help transform the consumer health experience through a new innovative health care model that is easier to use, less expensive, and puts consumers at the center of their care. In doing so, Silverscript will deliver on their purpose of helping people on their path to better health.

As they bring the two companies together, your clients will continue to work with Silverscript as they do today, and receive the same great products, support and service.

Please read the Silverscript & Aetna Acquisition FAQ document here for more information.

 

For more senior marketing news, visit the Cornerstone Senior Marketing website!

CVS Health Announces Completed Acquistion of Aetna

CVS Health completed its acquisition of Aetna on Wednesday. The combined company intends to provide consumers access to the information and resources needed for quality health care, as well as remove barriers to access to affordable care.

New products and services developed by the combined company will be broadly available to the health care marketplace, regardless of one’s insurer, pharmacy benefit manager (PBM), or pharmacy of choice. Additionally, CVS Health offerings, including retail pharmacy services, specialty pharmacy and long-term care, walk-in clinical services, and PBM services, will continue to be fully accessible to other health plans. Aetna members will also continue to have a broad network of pharmacies, including community-based independent pharmacies, available to fill their prescriptions. CVS Pharmacy will continue to participate within the pharmacy networks for other PBMs and health plans.

Contact your Cornerstone representative with any questions.

 

Click here to view the official release from Aetna.

Click here to view the official release from CVS Health.

Aetna Updates on January New Business Deadlines, Billing Timelines, and Reporting Notices

December and January Deadlines

The deadline for Aetna December sales notices is right around the corner. Make sure you get your notices in for December 1 effective dates by Tuesday, November 27th. Also, today is the last day to submit sales notices early and earn an administrative fee credit for your clients. You must also submit all required documents by Monday, November 26th in order for your clients to qualify for the credit. Click here for a flyer with more details on the administrative fee credit program and deadlines.

Below are the regular submission deadlines for December and January effective dates:

Effective Date Sales Notice Submitted All Required Documents Submitted
December 1 11/27/2018 11/30/2018
January 1 12/27/2018 12/31/2018

Billing

On the 25th of each month, Aenta posts monthly AFA invoices on Springboard Marketplace. Aenta emails invoices directly to those who do not use Springboard. The invoice is based on how many employees are enrolled for coverage on the 17th of that month. On the second business day of the following month, Aetna will pull funds from your account.

The first month’s bill may follow a different timeline if Aetna installs a group after the 19th of the month before their effective date. In this scenario, Aetna will pull eligibility on the first day of the month of their effective date and five days later post your invoice on Springboard. Aetna will pull funds by the 15th of the month. If they install a group after the effective date, they will not pull funds the first month. Instead, they will pull funds for two months of coverage on the second business day of the next month. For renewals, they will pull funds at their renewal and the next month’s invoice will include any changes that occurred after the 20th of the month.

*If group is not installed by the effective date, the customer will receive a bill for 2 months of coverage at once.

NY HCRA Notices

AFA customers may have recently received a communication from the New York State Office of Pool Administration regarding their NY HCRA filing eligibility. Please note, that there is no action needed. As the third party administrator, Aetna files NY HCRA forms on behalf of their Small Group AFA customers and determine whether that filing is annual or monthly.