Important business updates
Small Group Aetna Funding Advantage

 

AFA 9/1 product updates provide more savings, more choices and more convenience
Available for quoting now, and effective 9/1, the expanded AFA portfolio is bringing more value than ever to your clients*.  

As recently announced, the portfolio updates include new lower-cost plans (including a Value plan and Essentials plans), as well as additional local-based network options. It also offers a new Advanced Control Formulary, additional choices for members with specialty and maintenance medications, and innovative online solutions to help your clients and members manage health plans and health care – anytime, anywhere.

Click here to view the details of our new plan offerings.  Also, refer to the attached, recent announcement, which details out the portfolio enhancements. Reach out to your Aetna representative with any questions.


New business submission deadlines through 2020 and beginning of 2021
With the first half of the year behind us, it’s time to look ahead to Q3, Q4 and even into 2021!  Please be sure to refer to the chart below for July 2020 through January 2021 effective date submission deadlines:

Effective Date    IMQ Elite
Submitted
 Underwriting
Quote Submitted
  Sales Notice 
Submitted
 All Required 
Documents 
Submitted 
 
July 1 6/15/20 6/20/20 7/2/20 7/8/20
August 1 7/15/20 7/20/20 8/3/20 8/6/20
September 1 8/15/20 8/20/20 9/3/20 9/9/20
October 1 9/15/20 9/20/20 10/2/20 10/8/20
November 1 10/15/20 10/20/20 11/3/20 11/9/20
December 1 11/15/20 11/20/20 12/3/20 12/9/20
January 1 12/15/20 12/20/20 1/4/21 1/8/21

 


Important PCORI calculator reminder
As a reminder, the PCORI calculator has been updated to better assist your clients with figuring out their fee. It can help determine the average number of lives covered under an applicable self-insured health plan for a plan year.

Under the IRS final rule, issuers and plan sponsors are responsible for paying the PCORI fee, which is treated like an excise tax by the IRS. A federal excise tax return (Form 720) reporting liability for the fee must be filed by July 31 of the calendar year immediately following the last day of the plan year.

Click here to access the PCORI calculator on ProducerWorld, which can be found under the Resources tab.


Administrative fee credit incentive program extended
With AFA plans, your clients can now get a $100 administrative fee credit** per enrolled employee for new business when you submit an application with an Individual Medical Questionnaire (IMQ). This program has been extended through the end of the year and now applies to new groups with effective dates from June 1, 2020 to December 1, 2020.

Here’s the savings your clients can see:

  • With 12 enrolled employees and an IMQ quote, your client gets a $1,200 administrative fee credit.
  • With 20 enrolled employees and an IMQ quote, your client gets a $2,000 administrative fee credit.

Refer to the attached flyer for more details – and contact your Aetna representative to get a quote today!


Webcast focuses on mental health
Be sure to check out the latest SHRM webinar, featuring Cara McNulty, President of Aetna Behavioral Health. This webcast, More Than Just Stress: Improving Mental Well-Being in the Workplace, discusses how COVID-19 has affected mental health and accelerated changes in the workplace.


Click here to watch the webcast (note: you’ll have to register to view the video).

www.aetna.com/producer

Aetna™