CareConnect Withdrawing from the New York Health Insurance Market
UPDATE (9/29/17): CareConnect announced it will not be renewing any plans on or after December 1, 2017. Groups that started or renewed prior to 12/1/17 will continue their coverage until their normal renewal date in 2018, at which time they will have to find another carrier.
On August 24, 2017, the New York Department of Financial Services (NY DFS) Superintendent Maria T. Vullo released a statement regarding CareConnect’s decision to withdraw from the New York Health Insurance Market.
Click here to read the Press Release from Care Connect.
Please see the full statement below or visit the NY DFS website.
“While it is unfortunate that the continued uncertainty across the nation due to the repeated actions of the federal government to undermine the Affordable Care Act at this time in the insurance cycle has caused CareConnect to begin an orderly wind down from the market, we recognize that this decision will help Northwell focus on its core mission to deliver healthcare services to New Yorkers. In spite of recent federal efforts to destabilize markets and threats to dismantle or not enforce the ACA, New York’s healthcare market remains robust and consumers across New York have real choice of coverage. DFS will work with CareConnect on an orderly transition to ensure that all of its members know their full options and continue to receive healthcare coverage without interruption. Once again we call on the federal government to end this continued uncertainty, immediately act to protect our markets by fully paying the cost-sharing subsidies for good and not piecemeal, making the overdue risk corridor payments, fully enforcing the individual mandate, and stopping once and for all the partisan attacks on healthcare for all Americans. We appreciate that some members of Congress are seeking to turn this corner in a bipartisan manner and to maintain the ACA’s protections to stabilize markets.”
Please visit the following links below to get information on alternatives we offer to Care Connect. We welcome calls and emails from clients and prospective clients alike, and we look forward to answering your questions and concerns in the weeks and months to come.