We want to express our sincere appreciation to our dedicated brokers who generously invested their time to attend our highly anticipated Broker Road Show events. We are pleased to announce some exciting updates regarding new plan options for large employers starting January 1, 2024. These changes will not only impact new quoting opportunities, but also benefit our clients as they renew with us into the 2024 plan year. Here's a quick overview of the upcoming changes in 2024 that you won't want to miss. These changes not only have a short-term impact but are also part of our roadmap for implementation throughout the year.

Short-Term Road Map for Large Group

Key changes for 2024 plan options:

• The popular $3,000 HDHP options will be sunset for clients in 2024 to comply with the IRS regulations for minimum deductible options.
• A variety of additional HDHP options have been added to our large group menu with multiple Out of Pocket Maximum (OPM) options for 80/20 plans.
• Higher cost-share options for copayments around primary care, specialty, and pharmacy.
• Traditional copayment options will now allow for the ER cost-share to move to a deductible/coinsurance benefit instead of a copay if a client would like to move this way.
• The maximum out-of-pocket thresholds are being filed up to the 2024 limits of $9,450 for a single and $18,900 for a family.
• Due to increases in the OPM thresholds, we can offer additional Sanford PLUS plan options.
• A 3-tier and 6-tier formulary option will be offered, which will incorporate Biosimilars.
• The current 5-tier formulary will be replaced with the 6-tier formulary upon renewal in 2024.

Click here to access the 2024 Signature Series and Sanford TRUE Plan Options. 

Click here to access the 2024 Sanford PLUS Plan Options.

We sincerely thank our brokers for their patience as we work on integrating these new plan options into our underwriting tools. Any early January 1, 2024 renewals that have been delayed due to these new offerings will be released by the end of next week. As of August 1, we are committed to processing all upcoming renewals within the standard timelines, however, it's important to note that given the adjustments we are making, there may be some minor delays extending into August as well. Rest assured, our team is working hard to minimize any potential disruptions. Looking forward to the upcoming year, we anticipate exciting new opportunities for sales and quoting in 2024. 

Long-Term Road Map for Large Group

Sanford Health Plan to roll-out a new mid-size market for large employers in early 2024:

• New pre-built plans that will be available in the spring of 2024.
• New pre-built plans will offer some enhanced benefits.
• Market segment will include Signature Series, Sanford TRUE and Sanford PLUS options.
• Business rules, broker training and product roll-out will occur in early 2024.
• More details to come as we approach the end of the year.

Annual Fall Broker Virtual Meeting

Key large employer topics to be discussed:

• Save the dates are out on these meetings in September, please get one on your calendar.
• Business rules around Multiplan nationwide network.
• Biosimilar coverage and what clients/members can expect.

We look forward to a successful busy season ahead and know our team is here to help you navigate all things with Sanford Health Plan. Please reach out to your Account Executive with any questions!