Monday, September 12, 2016

Garden State Breaking: Another one bites the dust


"The [New Jersey] state Department of Banking and Insurance moved Monday to take over Health Republic — known as a consumer-operated and –oriented, or COOP, plan — because of its “hazardous financial condition.”

As with Ohio's own InHealth, and most of the other Co-Ops, the numbers just didn't add up. and the carrier has been forced to fold.

Just in time for Open Enrollment v4.0.

And the timing couldn't be better (for certain values of "better"): when this happens, policyholders are generally eligible for a Special Open Enrollment. Which means they'll be looking for new plans over the coming weeks, and then new new ones a few weeks later. Oh, and looking at three - yes three - deductibles to be met in a year's time.

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