Carrier News

Humana Offering 15 Month Rate Guarantees Dec 2018 – Jan 2019 on Level Funded Plans

Humana is offering 15 month rate guarantees on Level Funded Premium (LFP) plans to small groups effective or renewing Dec 2018 and Jan 2019.

  • New business
  • Renewing groups with existing LFP plans – some groups may not be eligible
  • Renewing fully insured groups that are eligible for a LFP quote

Humana will apply a small rate adjustment (~2-3%) to 12 month rates in their 15 month quotes. Contact our office to request 15 month quotes. They are only available by request.

The 15 month rate guarantee uses a 15 month contract year with 18 months of run-out protection—the same as a 12 month contract—after the contract year. Humana will allow an open enrollment for the 13th month of the contract and again at renewal. Remember, employers who pre-tax employee contributions must offer an annual open enrollment opportunity.

Effective Date Mid Year Open Enrollment Renewal Date
12/1/2018 12/1/2019 3/1/2020
1/1/2019 1/1/2020 4/1/2020

For ancillary product lines, Humana will extend the rate guarantee to match the medical contract period without adjusting the rates.


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