Indiana Farm Bureau today announced Indiana Farm Bureau Health Plans has more than 1,700 active plans at the end of the third quarter, a nearly 20% increase from the end of the second quarter. Additionally, INFB Health Plans will not raise rates for Traditional Health Plans, which provide health coverage options for individuals and families, for the 2022 calendar year.
From Jan. 1 through September 30, 2021, enrollment in INFB Health Plans, a suite of more affordable health care offerings, totaled 1,793 active plans, which equates to 4,392 lives covered. The current breakdown of coverage for those plan holders includes:
- 1,455 Traditional Health Plans, (both individual and family plans);
- 247 dental and vision plans; and
- 91 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.
“As individuals and families review their health benefits during this period, it’s imperative to understand plan offerings, any changes that are being made and what premium adjustments to expect,” said Patrick Williams, INFB Health Plans manager. “INFB Health Plans are a great option for those who are interested in reviewing their health care options for themselves and their dependents outside of a group plan. Plus, there are no premium increases expected for Traditional Health Plans covering individuals and families, which is essentially unheard of in the industry,” Williams added.
INFB member Erin Holbert of Holbert Farms, a corn and soybean operation in Vermillion County, was previously on an ACA plan before switching to INFB Health Plans at the beginning of the year.
“The costs were outrageous,” said Holbert. “At one point, I was paying up to $10,000 out of pocket to see a specialist. As soon as I heard that Indiana Farm Bureau was offering health plan options, I checked it out. I was happy that I would be saving about $160 a month and my specialists were included, so I signed up right away.”
Holbert, who has a Traditional Health Plan, was recently involved in a farming accident where the tire from a large crop sprayer pinned her to the ground, injuring her foot. She visited urgent care, surgeons and specialists to get the care needed.
“Coming off of the accident, I’m very thankful I have INFB Health Plans,” Holbert noted. “I don’t think it would have been as easy or affordable with the ACA plan. I haven’t gotten any bills yet, but I don’t feel worried about the financial side of things with my current plan.”
Before coming back to work full-time on the family farm three years ago, Holbert worked as an account manager at a seed company. Now, in addition to working on the farm, Holbert owns her own online boutique, Heart of the Midwest, which features fashionable clothing that advocates for agriculture. She started the business herself in 2019.
“As a small business owner, it’s been nice to save money each month with the lower health plan premium,” said Holbert. “I’ve recommended INFB Health Plans to a few other people like me who have come back to work full- time on the family farm because it’s a good, affordable option.”
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.
INFB Health Plans is hosting a series of virtual meetings designed to help both members and non-members during the open enrollment period. Interested individuals can attend any one of the virtual meetings taking place Tuesday, Oct. 26, Tuesday, Nov. 9 and Tuesday, Nov. 30 at 7 p.m. ET. Each meeting will cover a plan overview, eligibility requirements, underwriting, benefits and premium examples.
To learn more about INFB Health Plans and apply for coverage, please visit www.INFBhealthplans.com.