Rhode Island’s Health Insurance Marketplace
What is the website for Rhode Island’s new, online, health insurance marketplace?
After the legislature failed to pass exchange legislation during the 2011 session, Governor Lincoln Chafee signed Executive Order 11-09 on September 19, 2011, to establish the Rhode Island Health Benefit Exchange. In July 2013, Rhode Island announced that its new marketplace would be called HealthSource RI. This is the website consumers can use to compare health insurance options, apply for subsidies, and enroll in coverage.
Will premiums be the same statewide?
Many states are divided into multiple geographic rating areas and premiums may differ across the various areas. Rhode Island’s five counties: Bristol, Kent, Newport, Providence, and Washington, are grouped into only one Rating Area, so premiums will not be affected by the region of the state in which one resides.
Which companies will be participating in Rhode Island’s new health insurance marketplace?
In a May 15, 2013, Rhode Island Health Benefits Exchange Advisory Board Meeting, the Board discussed an Update on Qualified Health Plan Filings; it was noted that three carriers filed to offer exchange products in 2014, 12 individual plans had been filed, and 16 SHOP plans had been filed.
A June 28, 2013 press release from the Office of the Health Insurance Commissioner of the State of Rhode Island announced that premiums had been approved for individuals and employers for products to be sold in Rhode Island for coverage commencing in 2014. Two carriers were approved to offer individual products through the exchange and three carriers were approved to offer small business products through SHOP.
Blue Cross Blue Shield Rhode Island is the only incumbent in Rhode Island’s private health insurance market.
Individual exchange products include the following:
- BlueSolutions for HSA Direct; will be available at the gold, silver, and bronze metal levels
- VantageBlue Direct Plan; will be available at the gold, silver, and bronze metal levels
- VantageBlue SelectRI Direct; will offer tiered benefits and be available at the gold, silver, and bronze metal levels
- BasicBlue Direct; a catastrophic plan
Small group exchange products will include:
- VantageBlue; will be available with two platinum variations, as well as gold and silver plan options
- BCHO Advantage; a platinum POS plan
- Blue Solutions for HSA; will be offered at the gold, silver, and bronze metal levels
- VantageBlue SelectRI Direct; will offer tiered benefits and be available at the gold metal levels
Neighborhood Health Plan of Rhode Island is new to both the individual and small group markets. NHPRI will only be offering these products on the Rhode Island Health Benefit Exchange.
Individual HMO exchange products include:
- Neighborhood Health Plan of RI Plus/Value; will be offered at the gold and silver metal levels.
Small group HMO exchange products include:
- Neighborhood Health Plan of RI Premier; will be offered at the gold metal level
- Neighborhood Health Plan of RI Choice; will be offered at the silver metal level
UnitedHealthcare will only be offering small group products through the new online health insurance marketplace; those products include the following:
- UnitedHealthcare Edge Gold Plan; a tiered benefit product
- UnitedHealthcare Balanced Gold Plan
- UnitedHealthcare Edge HSA Silver Plan; be a tiered benefit product
- UnitedHealthcare Balanced Silver Plan
- UnitedHealthcare Edge HSA Bronze Plan; a tiered benefit product
New information is being released every day. Follow this blog to receive updates as new information is released in Rhode Island.
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