All Savers® New York Public Goods Pool undergoes process change
- Reform and Regulatory
- Select States
All Savers® Alternate Funding groups who do not elect into the New York Public Goods Pool will be subject to a surcharge in excess of 60 percent of the cost of the claim on services received by a covered member in the state of New York, regardless of the member or group’s home state.
Starting with new business and renewal effective dates of July 1, 2018, All Savers will assess groups who choose to opt-out of the New York Public Goods Pool a fee of $1.25 per employee per month.
The opt-out fee will be assessed on the group’s monthly billing statement, but will not be reflected on its new business or renewal quote. Instead, a “Quote Note” will be added to the bottom of each quote advising groups and brokers of the opt-out fee.
An updated New York Public Goods Pool Opt-Out form is available on the All Savers Broker Website in the Forms and Brochures tab.
Covered Lives Assessment
Groups with members who reside in the state of New York and elect into the pool are charged a Covered Lives Assessment on their monthly billing statement. The assessment amount is based on the residential ZIP code of the employee and is submitted to the state of New York on a monthly basis. Along with the opt-out fee implementation, the Covered Lives Assessment will begin to be absorbed by All Savers and will no longer charged to groups on their monthly billing statement.
Applicable to All Savers® Alternate Funding Markets (all states except W. Va., N.Y., Vt., N.H., Maine, N.D., S.D., Minn., Mont., Calif., Alaska and Hawaii)