Apr 13, 2020
In response to the COVID-19 pandemic, Premier is retaining rates in the immediate term.
Rates for Employer Groups with Fewer than 500 Employees
- Premier Access will retain rates (no rate change) on all renewals for May 1, 2020 through August 31, 2020 plan anniversary dates
- The next renewal rate review will be set to the plan anniversary month/day in 2021. For example, if the original renewal anniversary date was August 1, 2020, a group’s current rates will continue until the next anniversary, August 1, 2021
- All business planning discussions for the coming year will continue
- Normal underwriting rules and contractual provisions still apply
Rates for Employer Groups with 500 or More Employees
- For larger employer groups with 500+ employees, Premier will defer planned anniversary renewals scheduled from May 1, 2020 to August 31, 2020 for three months from the original renewal anniversary date. For example, a renewal planned to be effective May 1, 2020 will now be deferred to be effective on August 1, 2020.
- After this period of deferrals, the original renewal anniversary date will apply for any 2021 and future renewals.
- 500+ renewal discussions will reflect the same focus on a company’s needs and the underlying benefit performance to ensure that benefit programs are built for the long term
- Normal underwriting rules and contractual limits still apply
Contact your LISI Regional Sales Manager for more information.
