Indiana Farm Bureau Health Plans announced it will not raise rates for Traditional Health Plans, which provide health coverage options for individuals and families, for the 2023 calendar year. This is the second year in a row that the suite of more affordable health care offerings has not raised its rates for Traditional Health Plans.
INFB Health Plans has over 3,000 enrolled plans at the end of the third quarter, which equates to nearly 6,700 Hoosiers covered.
From January 1, 2021, through September 30, 2022, enrollment in INFB Health Plans totaled 3,003 active plans and 6,681 individuals covered. The current breakdown of coverage for those plan holders includes:
- 2,388 Traditional Health Plans, (both individual and family plans);
- 452 dental and vision plans; and
- 163 Medicare Supplement Insurance Plans.
The fourth quarter of each year is open enrollment time for most employer and Affordable Care Act plans. Existing INFB members may apply for and receive coverage through INFB Health Plans anytime during the year, but Q4 is a good time for them to evaluate their health care options. On average, a plan offered through INFB Health Plans can provide savings of 50% to 70% for families when compared to ACA plans that aren't subsidized by the federal government.
"INFB Health Plans launched two years ago to address a significant need for reliable and more affordable health care in Indiana's agriculture community," said Randy Kron, INFB president. "I'm proud that we continue to offer plans with significant cost savings for our current members, as well as those prospective new members who may be reviewing their 2023 health care options for themselves and their dependents."
Jenny Mundell of Tipton County has been an Indiana Farm Bureau member for 30 years and a full-time farmer. She got an INFB Health Plans policy over a year ago after her husband retired from his off-farm job and she was no longer on his insurance.
"I was starting to look into ACA plans, but then I heard about INFB Health Plans," Mundell said. "It was much more affordable, and the fact that it was backed by Farm Bureau meant a lot to me."
Mundell also was pleased that she could keep her current primary care doctor due to the availability of nationwide in-network providers via UnitedHealthcare and that she had quality, affordable dental care.
"This has been my best experience with dental insurance because they have covered 80% of my costs," Mundell added. "I recommend INFB Health Plans as a health care option to anyone in the farming community."
Existing INFB members may apply for INFB Health Plans at any time, however, membership is required prior to applying for coverage, and individuals must be a member of INFB for at least 30 days to apply for a Traditional Health Plan or a dental/vision plan. Medicare Supplement Insurance Plans do not require the 30-day waiting period. Coverage is statewide and plans are portable anywhere a member may live in Indiana, with no defined service area.
Categories: Indiana, Government & Policy