So your health insurance company is closing its doors. What does that mean for you?
If you have a health insurance policy with Carolina Care Plan in South Carolina or Consumers Life in Georgia, here’s where things stand and what we suggest you do moving forward.
- Your current plan will continue to remain in force, should you choose to keep it, until December 31. Claims will get paid.
- If you have an individual policy, you should be transitioned to a similar policy with Golden Rule Insurance (a subsidiary of United Healthcare) at that point, though you’ll likely be offered the opportunity to do it sooner.
- If you have a group policy, you should be transitioned to a similar policy with United Healthcare, though you too may well be asked if you’d like to do it sooner.
Here’s our advice:
Don’t wait until January 1 to change your plan. At that point the only options available to you will be plans that comply with all of the mandates and rules in “Obamacare” – which means these plans will probably be much more expensive than what you could find now.
Many health insurance companies will let you keep your 2013 plan (and pay your 2013 premiums) well into 2014. That gives you the flexibility to explore your options (you can switch anytime, really) while still having the option to keep what you have (for a little longer, anyway).
Of course we’re very glad to help you compare your plan with other options that will be around on into 2014. You can actually run some real-time quotes for health insurance here. Or you can contact us to talk more specifically about your needs and situation.