The 2018 premium rates for the WELS VEBA Group Health Care Plan are now available. To find the 2018 premium rates for the plan options available in your area, visit the 2018 health rates page. The 2018 rates will increase by 6% for Plans 1, 2 and 4, while the 2018 rates will increase by 5.3% for Plan 3, over the current 2017 rates. The rate increase for Plan 3 is less than the increase for the other plan options because the Plan 3 deductibles will increase to $2,700/individual and $5,400/family effective January 1, 2018. No other changes to cost-sharing amounts or covered services are expected for the 2018 plan year. Continued increases in the cost of health care services and specialty prescription drugs are the main drivers of the 2018 rate increase. Some of the cost trend was mitigated by better-than-expected investment returns over the past 12 months.
In addition, the WELS VEBA Commission has approved a limited open enrollment period this November for coverage effective January 1, 2018. Eligible workers at sponsoring organizations with at least one active worker enrolled in the WELS VEBA health plan will have the opportunity to enroll for new coverage or make changes to their existing WELS VEBA coverage. Open enrollment materials will be mailed to eligible workers in late-October. Please note that workers at sponsoring organizations without an active worker enrolled in the WELS VEBA health plan will not be eligible to enroll during this limited open enrollment period unless they experience a qualifying life event.