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.

Aetna Funding Advantage New Broker Bonus

Earn more for groups sold using IMQs with Aetna Funding Advantage’s new broker bonus. 

From 11/1 through 1/1 effective dates, you can earn more per subscriber for sold Aetna Funding Advantage (AFA) groups underwritten using Individual Medical Questionnaires (IMQs).

When you sell a Small Group (5-50*) AFA case underwritten using IMQs, you get:

  • Opportunity for group to save up to 15% on costs**
  • $100 per subscriber instead of the standard $50 per subscriber AFA bonus, paid quarterly
*10-50 in NV, 26-50 in NC
**Versus a group underwritten through GRx methodology. Based on AFA book of business analysis.

Click here to learn more.

Peerfit Now Available for Aetna Funding Advantage Memberse

Small Group Aetna Funding Advantage plans now include access to group fitness classes through Peerfit without any membership costs or long-term commitments for employees. Starting with October 1 effective and renewal dates, employees with an Aetna Funding Advantage plan can dance, spin, run, or lift their way to health by attending group fitness classes at gyms and fitness studios in the Peerfit network.

Click here for more information about AFA’s Group Fitness Classes.

Click here for more information about Peerfit.

 

Contact your Cornerstone representative for additional information.

ATTENTION KY BROKERS: Check Out Aetna’s Level-Funded Program

Attention Kentucky Brokers! Have you quoted Aetna’s new level-funded program? Aetna has recently made a significant rate adjustment in Kentucky. Ask for quotes on this product today!

Important Updates to 2018 AFA (5–99):

  • 5–99 in Ohio
  • 5–50 in KY
  • 15 percent rate decrease for KY effective 7-1-18
  • Very competitive pricing
  • 15-month rate guarantee for 12-1-18 and 1-1-19 effective dates (only increases rate 1 percent to go to 15 months versus 12)
  • $50 bonus per Employee per Year through 1-1-19 effective dates.  Example: 10 employees = $500 bonus.  30 employees = $1500
  • $25 Per Employee per year administrative credit if submitting early
  • $25 plus tax for Apple Watch for employee ($50 plus tax for spouse)
  • Pure Fit wellness credits

Contact your Cornerstone representative for additional details or to get contracted with Aetna today.

NEW: Aetna Funding Advantage Extended Contract

Aetna Funding Advantage is available on a 15-month contract for December 1 and January 1 new customers. Wouldn’t it be nice to have some business renewal outside OEP? Learn more.

Aetna Expands Market Size For AFA And Offers $50 Per EE Bonus

Aetna Funding Advantage is now available for 5–100 groups in Ohio. AFA is Aetna’s fastest growing small business offering with potential savings on monthly costs, the opportunity for surplus sharing, a digital administration and enrollment platform, wellness activated by Apple Watch and more. Aetna has expanded it to groups with 51 to 100 eligible employees in Ohio.

Click here to learn more.

Click here for the original release from Aetna.

Aetna Funding Advantage Offers 15-Month Contract

Aetna Funding Advantage will again offer a 15-month contract in December 2018 and January 2019 for new Aetna customers who select an AFA plan. AFA extended the 15-month contract offer to 23 additional markets.

The new AFA extended contract:

  • Offers a 15 month AFA contract
  • Applies to new Aetna small group (5-50**) customers with December 1, 2018 and January 2019 effective dates
  • Moves your client to a March 1, 2020 or April 1, 2020 anniversary date
  • Is available in AZ, CO, FL, GA, IA, ID, IL, KY, LA, ME, MI, MN, MO, MS, NE, NJ, NV, KS, OH, OK, TN, TX, UT, WI and WY

Contact your Cornerstone representative for additional details.

Quote AFA Through January 1 Now!

Small Group Aetna Funding Advantage (AFA) can now be quoted for December 1 and January 1 effective dates. Click here for a quick guide on how to request a quote in your market.

DID YOU KNOW? AFA offers groups $25 per subscriber fee credit for early submission! Click here for more details.

Get Fit With Aetna Funding Advantage

Beginning October 1, 2018, Aetna Funding Advantage Plans will include access to group fitness classes through Aetna’s relationship with Peerfit. Members will receive monthly credits1 that can be redeemed through Peerfit to enroll in group fitness classes at gyms and fitness studios in the Peerfit network.

We Have Information About Aetna Renewals!

Just a reminder that Aetna has announced it is not renewing any grandfathered or transitional business (Keep-What-You-Have) any longer. Renewals for any groups remaining in this block will receive ACA options (Aetna offers only 2 plans) or an Aetna Funding Advantage quote if they meet the criteria (5 or more employees).

Please contact your Cornerstone representative if you have a group or groups in this product and would like to explore options.