Community Rated definition
Community Rated means a rating method in the large group market that bases rates on the expected costs to a health care service plan or health insurer for providing covered benefits to all enrollees or insureds, including both low-risk and high-risk enrollees or insureds. (H&SC § 1385.01(a)(2) & CIC § 10181(a)(2).) This is also commonly known as manually rated.
Community Rated means that the premium for all persons covered under a health benefits plan contract is the same, based on the experience of all persons covered by that contract, without regard to age, sex, health status, occupation and geographical location.
Community Rated means that premiums do not depend on your age, either at the time the policy is issued or upon renewal. Premiums depend on other factors and may increase because of benefit changes or overall premium adjustments.
Examples of Community Rated in a sentence
Membership contributions for groups with fewer than 50 principal members will be Community Rated.
The health plan provided by the Commission is the Excellus Community Rated EPO Blue Plan with a three tier $10/$25/$40 prescription co-pay rider at no cost to the employees.
More Definitions of Community Rated
Community Rated means a rating method in the large group market that bases rates on the expected costs to a health insurer of providing covered benefits to all insureds, including both low-risk and high-risk insureds. Premiums may vary according to the factors in this article.
Community Rated means that the risks of all insureds in a defined “community” are blended together to develop the premiums for health in- surance. A “community” is made up of all individuals having a particular insurance plan. Community rating spreads the cost of insurance evenly among all the individuals in a commu-
Community Rated means a rating method in the large group market that bases rates on the expected costs to a health care service plan of providing covered benefits to all enrollees, including both low-risk and high-risk enrollees. Premiums may vary according to the factors in this article.
Community Rated means that the risks of all insured persons in a defined “community” are blended together to develop the premiums for health insurance. A “community” is made up of all individuals having a particular insurance plan in that market. Community rating spreads the cost of insurance evenly among all the individuals in a community with that plan, instead of charging significantly higher or lower costs for a person or group based on risk or claims experience. Vermont statutes require that each insurer set community rates in the small employer and non-group markets. Approximately 9.8% (35,030) of Vermonters in the privately insurance market (358,445) had community rated premiums in 2004 (Figure 6).
Community Rated means a rating methodology in