Open Enrollment for the 2021 benefit year for State Health Plan members is underway and the NC Treasury Department has announced that there will be no premium increases for individuals or families for the 3rd year in a row.
Also, both non-Medicare and Medicare members on the 70/30 Plan, will see significant cost reductions for those who visit a Clear Pricing Project provider.
With this year’s Open Enrollment, the SHP unveiled new programs and a major new Medicare Advantage contract.
Because the state’s contract with UnitedHealthcare was expiring, the SHP was required to complete a competitive bid process, which resulted in the Medicare Advantage Fully Insured Plan and Related Services contract being awarded to Humana with services beginning Jan. 1, 2021. The potential annual cost savings under the new contract will be approximately $197 million, which totals approximately $600 million over the course of the three-year contract.
In addition, savings generated from this new contract allows the SHP to offer significant reductions to dependent premiums for those on the Medicare Advantage Plans. These changes come with no cost to state taxpayers.
The SHP, a division of the Department of State Treasurer, provides health care coverage to more than 727,000 teachers, state employees, retirees, current and former lawmakers, state university and community college personnel, and their dependents.
For more information visit NCTreasurer.com.