Solistice Renewals for COVID-19

Posted on April 3, 2020

See below for Solstice

As the situation surrounding COVID-19 (coronavirus) unfolds, we understand the uncertainty many are facing. We are here for you during this challenging time and want to provide you with as much stability and assurance possible.
Therefore, Solstice is suspending all routine rate changes for group renewals for the remainder of 2020 and keeping existing rates in place. Please consider the following specifics to see how this will affect groups of different sizes:

Employer Groups with Less Than 500 Employees:

• There will be no rate changes on any renewals set for May 1, 2020 through December 31, 2020 plan anniversary dates.
• Groups with less than 500 employees scheduled to renew during this time period will continue with their current rates until the next 2021 plan anniversary. For example, if the renewal anniversary date was August 1, 2020, current rates will continue, and the following renewal review will be August 1, 2021.
• Existing underwriting stipulations regarding participation and funding arrangements will apply.

 
Employer Groups with 500 or More Employees:

• We will defer all routine rate changes on renewals set for May 1, 2020, through December 31, 2020, plan anniversary dates.
• Groups with 500+ employees scheduled to renew during this time period will continue with their current rates until January 1, 2021. Any applicable 2020 rate changes will be implemented from that date forward. 
• During calendar year 2021, such groups will be issued a standard renewal during the normal renewal month; For example, if a group ordinarily renews May 1^st, we’ll issue the 2021 renewal offer approximately 60 days prior to May 1, 2021.
• Existing underwriting stipulations regarding participation and funding arrangements will apply.