HealthyCT Run-Off of Business
The Insurance Department has been overseeing an orderly run-off of HealthyCT since July 1, 2016 to ensure that policyholders will continue to have their claims paid.
The next step in this run-off is for the Insurance Department to apply to the state Superior Court for a liquidation order of HealthyCT, which would then officially go out of business on December 31, 2016. The Insurance Department made the decision to liquidate the company after its financial situation continued to worsen over the last several months rendering the company insolvent.
The proposed liquidation would affect only those who have HealthyCT insurance plans through their employer since some of those plans extend beyond January 1, 2017. The Department estimates there are 7,000 or fewer people on these plans.
There are safeguards in place to protect consumers after January 1. The Connecticut Life and Health Guaranty Fund
, a consumer safety net that health insurance companies pay into, will continue to provide coverage and pay covered claims through January 31.
The Insurance Department is working closely with other health insurance companies, the broker community and providers to help employers to obtain health insurance with other carriers as soon as possible and with little or no disruption in care.
This run-off would not affect anyone who has an individual plan from HealthyCT Ė those plans all expire at the end of this year and those policyholders have been able to shop for a new carrier since open enrollment began on November 1.
Timeline of HealthyCT runoff
For more information:
Contact the Insurance Departmentís Consumer Affairs Division:
Phone: 860-297-3900 or 800-203-3447
Content Last Modified on 2/22/2017 12:28:00 PM