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Are premiums higher for the new benefit options available under the new contract?

April 26, 2017benefit contract Options premiums

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Are premiums higher for the new benefit options available under the new contract?

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Yes. Premiums for the new plan design are based on updated assumptions for the rate of return on investments, the number of enrollees that keep their coverage until they claim benefits, claims experience and other items. The new plan design also includes a number of benefit enhancements. Consequently, premiums for the new plan design will be higher than premiums for the current plan design.