The Latest on CoOpportunity Health – What Does it Mean for You?

coOp_4CCoOpportunity Health Inc., an insurance cooperative which offers health insurance on the public Health Insurance Marketplace was taken over by the Iowa Insurance Division on December 23rd.

What does that mean for individuals who are enrolled in CoOpportunity plans?

Those who enrolled in coverage before December 15th will still have coverage, although the Iowa Insurance Division notes “most policyholders may find it in their best interests to find other coverage before the end of open enrollment,” which ends February 15, 2015. Those who enrolled in plans after December 16th will not be covered and will have to enroll in another plan. CoOpportunity is not insolvent at the time and will continue to pay claims; however, it may be liquidated at a later date if it is unable to present “a viable plan to continue,” according to Iowa Insurance Commissioner Nick Gerhart.

What are additional options?

If you are enrolled in a CoOpportunity plan and want or need to change your coverage you still have time. Open enrollment lasts until February 15, 2015, although the deadline for January 1st coverage has already passed. Plan and carrier options are still available in the public and private marketplace, and the agents at AW Welt Ambrisco Insurance can help you review options in both.

For more information please call (319) 887-3700 or email info@awwelt.com.

 

For continued updates on the status of CoOpportunity Health, check the Iowa Insurance Division website: http://www.iid.state.ia.us/node/9885312

 

 

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