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OptiChoice Rate Increase
This communication only pertains to your plan if (1) you have the OptiChoice vision plan along with your Personal Choice medical plan, and (2) there are fewer than 50 employees enrolled in the OptiChoice plan.
If you meet this criteria, then you will want to continue reading. As your insurance broker, one of our most important jobs is to review the cost associated with your benefits plan and evaluate all of the alternatives available well in advance of any price increases. The insurance companies usually release plan renewals and the associated rate hikes about 60 days in advance. By that point we have already begun the process of analyzing competing quotes, and are prepared shortly thereafter to present your options.
Unfortunately, it was just recently communicated to RSI Gallagher that the OptiChoice rates are going up effective October 1, 2004. We are not pleased that we did not receive advanced notice, and did not have the opportunity to share the rate increase with you sooner. In any event, you most likely have received your October invoice and may be wondering why the bill is higher than usual. For your reference, the new OptiChoice rates are as follows:
OptiChoice (rates are for single / family)
Option 1: $3.35 / $9.40
Option 2: $4.30 / $11.90
Option 3: $4.55 / $12.75
Option 4: $3.35 / $9.55
Option 5: $4.60 / $13.00
OptiChoice Gold (rates are for single / family)
Option 1: $4.40 / $12.35
Option 2: $5.60 / $15.65
Option 3: $5.95 / $16.70
Option 4: $4.40 / $12.65
Option 5: $6.15 / $17.10
If you have any questions or concerns, please give your RSI Gallagher Benefits Consultant a call. We will be glad to assist you in evaluating your vision plan with OptiChoice. |
