Get the free Local Employer Group 2008 Rate Renewal - State of New Jersey - state nj

New Jersey State Health Benefits Program Local Employer Group 4/1/08 Rate Recommendation Report Prepared by Aon Consulting January 2008 Employee Benefits Consulting TABLE OF CONTENTS Section Subject

Data 5 1 5/1/2008 Premium Changes 6 Enrollment Projections 7 Trend Analysis 8 Aggregate Data 9 2 6/1/2008 Premium Changes 8 Enrollment Projections 9 Trend Analysis 10 Aggregate Data 11 2 Executive summary The State Health Benefits Program (SHIP) was established by former Gov. Jim Greeley in October 2004 as New Jersey's version of FEB. At the time, the program was slated to begin in March 2007. The SHIP had been developed under the leadership of the Department of Economic Affairs (DEA), with the assistance of the NJ Health Benefit Exchange (THE). While SHIP was under development, FEB was phased-in over the course of 2004. The transition between FEB and SHIP was well underway until August and September 2006 when New Jersey's insurance marketplace, THE, announced its decision not to continue funding the FEB after July 2007. The decision to end FEB coverage was announced and announced in the context of THE's strategic plan (which was approved by its board in early July 2006). By that stage, approximately 10,000 of the approximately 40,000 individuals who had been enrolled in FEB since the end of January 2006 were transitioned into the SHIP. The goal was to complete the transition over the course of the next year with a targeted completion date of November 2007. By that stage of the transition, approximately 3,000 of the approximately 9,000 FEB enrolled who could not get coverage because of their income would also have their coverage transitioned to the SHIP. In March 2007, New Jersey HHS Secretary Paul Clark announced that the SHIP would be terminated for the remainder of 2006. Despite not being scheduled for termination until late 2008, THE did not inform the FEB program of its decision to eliminate all FEB coverage. To allow FEB enrolled to continue their coverage, it was not possible to transition all those who may have been able to get SHIP coverage to the SHIP. Because it was not possible to transition those who were eligible for FEB coverage to SHIP and because they had not been notified, by October 2007 New Jersey families were scrambling for coverage options. In January 2008, the Office of the Commissioner of Insurance announced via press release (1/1/08 Item No.

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What is local employer group rate?

The local employer group rate refers to the percentage or amount that local employers are required to contribute towards employee benefits or insurance coverage.

Who is required to file local employer group rate?

Local employers are required to file the local employer group rate if they provide benefits or insurance coverage to their employees.

How to fill out local employer group rate?

To fill out the local employer group rate, employers need to provide information about the percentage or amount they contribute towards employee benefits or insurance coverage.

What is the purpose of local employer group rate?

The purpose of the local employer group rate is to ensure that employers contribute a fair and consistent amount towards employee benefits or insurance coverage.

What information must be reported on local employer group rate?

The information reported on the local employer group rate includes the percentage or amount contributed by the employer towards employee benefits or insurance coverage.

When is the deadline to file local employer group rate in 2023?

The deadline to file the local employer group rate in 2023 may vary depending on the specific requirements of the local jurisdiction. It is recommended to check with the local authorities for the exact deadline.

What is the penalty for the late filing of local employer group rate?

The penalty for the late filing of the local employer group rate may vary depending on the specific regulations of the local jurisdiction. It is advisable to consult the local authorities for information on the penalty.

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