Annual Renewal
Your anniversary date will be 12 months after your original effective date. It is on this date that you will receive your annual renewal from Aetna. The annual renewal period is the time of year when you and your employees can reevaluate your health benefits needs, select the plan(s) that best meets those needs and make contract changes.
The timing of the annual renewal greatly affects the service your members receive. TBS will provide the renewal to your broker contact within 45 days of the anniversary date.
Aetna must receive written confirmation in advance of the policy renewal date. Written confirmation may include signed renewal acceptance from the customer delivered by mail, fax or email. Note: premium payment received in advance of the renewal date will also be considered renewal acceptance.
Renewal policy cancellations require written notification of intent to cancel within 30 days of the renewal. This written notification must be on the group’s company letterhead, list the requested effective date, lines of coverage, the reason for terming, and be signed and dated.
Plan changes must be returned within the specified time frame on your renewal letter. Plan changes will not be accepted after the date noted on the renewal letter.
Changes to your plans can be made at New Business or at Renewal. Please contact your broker to facilitate these changes.
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