E-Alert: Health Republic To Cease Writing New Insurance Policies; Current Policies Remain In Effect
September 28, 2015
(This notice is being provided Ahead of New York State of Health open enrollment period to help ensure continuity of coverage.)
The New York State Department of Financial Services (NYDFS), the Centers for Medicare and Medicaid Services (CMS), and the New York State of Health (NYSOH) health plan marketplace today announced actions regarding the Health Republic Insurance of New York co-op. NYDFS is directing Health Republic to cease writing new health insurance policies and the co-op will commence an orderly wind down after the expiration of its existing policies.
Existing Health Republic small group plans currently remain in effect. NYDFS and NYSOH will evaluate the best course of action with regard to small group plans based on Health Republic's ongoing financial results. Any future determinations made on small group plans will be announced with appropriate notice to help provide a transition period to new coverage and protect policyholders. We are currently awaiting further guidance for current Health Republic small group plans and will notify you as soon as any determinations are made.
Feel free to contact your Marshall & Sterling Account Manager at 866-573-4768 should you have questions regarding your Health Republic coverage.