Annual Renewal Open Now Through September 25
Annual renewal for group benefit plans opened this morning, August 12. Rate sheets for 2021 were emailed to the primary benefits administrator for each subgroup with NRECA group benefit plans. Rates are also available online. Renewal calculations and other cooperative-specific reports for experience-rated co-ops covering 100 or more lives were also sent by a separate email.
Go online to send in your annual renewals for group benefit plans until September 25. For instructions and reminders on selecting subgroups, managing COBRA administration, confirming plans and completing other tasks from the landing page, visit the Benefit Plan Rating & Renewal Instructions page in the BA Guide.
You also can find out more about the actions you need to take and access the materials for annual renewal, such as the option guides and renewal rate calculation explanations, on the revamped Annual Renewal page of the BA Guide. The page provides updated and expanded information, including a checklist of things benefits administrators should do and consider for annual renewal. The “What’s New” section highlights benefit changes and enhancements for 2021, such as:
- New life insurance coverage options:
- Basic life and accidental death and dismemberment (AD&D) insurance coverage option of $1,500,000
- Spouse life insurance coverage options of $150,000 and $200,000
- Child life insurance coverage option of $20,000
- Life Strategy Counseling program enhancements: Up to five in-person consultations with counselors at no cost; new website with enhanced resources and tools; new options to engage with counselors and advisors by video conferencing and live chat
- New Joint and Spine Surgery Centers of Excellence program: The voluntary program covers most types of joint and spine surgery, such as a knee and hip replacement, carpal tunnel release, spinal fusion, and shoulder and ankle repair
- And more…
Before you confirm or make changes, we ask that you carefully review your plans to ensure that you are accurately developing the plan designs you intend to adopt for 2021.
If you have questions or need help with annual renewal, speak with your field representative. You also can contact the Member Contact Center at 866.673.2299 or contactcenter@nreca.coop.