Oxford has released their 2016 individual health insurance plans and prices, as well as details of their new “Metro” network. The following changes will take effect on January 1st, 2016:
-In addition to their four standard medal level plans, Oxford will be introducing an additional HSA-qualified bronze plan for 2016. This is great news for freelancers, high tech consultants, and sole proprietors in downstate New York, who can now use pre-tax money to pay their out of pocket expenses, while having access to one of the larger provider networks in the area.
-Basic plan overviews can be found here:
-Full benefit summaries were not available at the time of this writing, but they will be very similar to existing standard medal level plan structures.
-Beginning in 2016, Oxford individual plans will utilize the new “Metro” network, which is about 25% smaller than the Liberty network in New York.
-Some existing providers will be removed from the network. Others who were previously out of network will be added to the network.
-Details of the “Metro” network can be found here:
-The NYS Department of Financial Services must still approve this new network, which was submitted by the carrier for review.
-Since this is a brand new network, make certain that when checking with your doctors for network inclusion, you stress to them it is the new “Oxford Metro Network”.
Oxford’s 2016 individual health plan prices will be going down as a result of the network changes. Single platinum rates will reduce by over $100 per month, which is good news. This marks the 2nd year in a row of Oxford reducing individual market prices. Pricing structures can be found here:
The biggest impact to existing Oxford individual policyholders will be Nassau County Long Island residents. This is due to the fact that LIJ Hospitals and physicians will not be accepting Oxford Metro plan customers. The other major impact will be patients of the Mount Kisco Medical Group, who reside in the northern downstate New York region (Westchester, Dutchess, Putnam, Rockland). However, there are still sufficient providers in both of these geographical areas, which makes Oxford individual products a solid contender in the 2016 individual market.
For more information about individual Oxford health insurance products, contact an insurance broker.