Iowa and Nebraska Shut Down CoOportunity...UGG
- Thread starter Nikita
- Start date
I got through after 1 hr. and 42 minutes. He was able to find the 1 in particular I was calling about but it is screwed up and says a 1/1/effective date even though I sent it 1/8/15. It still shows in que and not processed. He was nice enough to pull up all my other clients and send me an email with them listed. I said to him do you show about 30 new clients, he said no there are only 6 and said we must have a problem. Imagine that!
Carrier rep told me to wait until commission statements get released. They were released today and the system won't log in. I was able to log in yesterday, but so far not today.
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Finally got logged in to find that the pdf isn't it the correct format; it won't open.
- 8,448
January 23, 2015
FFM Alert for Agents and Brokers: CoOportunity Health in Iowa and Nebraska
As you may be aware, at the request of Iowa and Nebraska insurance officials, CoOportunity Health is no longer accepting new customers and has been removed from the federal Marketplace in Iowa and Nebraska. An order to liquidate the company is expected to take effect on February 28, 2015. CMS' first priority is to make sure that existing enrollees remain covered in a health plan and we are working closely with state officials to make sure that consumers have access to information about their coverage options.
Consumers in the Individual Marketplace: As you assist individuals, please be aware that a consumer who was a CoOportunity Health policyholder during 2014 and made no election or changes prior to December 15, 2014, would have been auto-enrolled and currently continues to be covered with CoOportunity Health. Consumers may select a new plan during the remaining open enrollment which ends on February 15, 2015, to have an effective date of March 1, 2015, or consumers may select a new plan during the 60-day Special Enrollment period, which begins on the effective date of the liquidation. Enrollees receiving advance premium tax credits to help pay for their insurance, need to find other coverage by March 1, 2015. After March 1st, CoOportunity will no longer be a qualified health plan and advanced premium tax credits and cost sharing subsidies to CoOportunity enrollees will stop.
Employers in FF-SHOP: Employers with coverage in the group market need to work with their agent to obtain other coverage as soon as possible. Upon liquidation, groups will have 30-45 days to secure coverage.
To change plans: Plan changes must be made through the Marketplace Call Center after February 15, 2015.Agents/brokers can call the Marketplace Call Center at 1-800-318-2596 (TTY: 1-855-889-4325).
For additional information: Please see the General Information and FAQs posted on the Iowa Insurance Division website (Welcome to IID | Iowa Insurance Division) and the Nebraska Departments website (Nebraska Department of Insurance).
-The End
FFM Alert for Agents and Brokers: CoOportunity Health in Iowa and Nebraska
As you may be aware, at the request of Iowa and Nebraska insurance officials, CoOportunity Health is no longer accepting new customers and has been removed from the federal Marketplace in Iowa and Nebraska. An order to liquidate the company is expected to take effect on February 28, 2015. CMS' first priority is to make sure that existing enrollees remain covered in a health plan and we are working closely with state officials to make sure that consumers have access to information about their coverage options.
Consumers in the Individual Marketplace: As you assist individuals, please be aware that a consumer who was a CoOportunity Health policyholder during 2014 and made no election or changes prior to December 15, 2014, would have been auto-enrolled and currently continues to be covered with CoOportunity Health. Consumers may select a new plan during the remaining open enrollment which ends on February 15, 2015, to have an effective date of March 1, 2015, or consumers may select a new plan during the 60-day Special Enrollment period, which begins on the effective date of the liquidation. Enrollees receiving advance premium tax credits to help pay for their insurance, need to find other coverage by March 1, 2015. After March 1st, CoOportunity will no longer be a qualified health plan and advanced premium tax credits and cost sharing subsidies to CoOportunity enrollees will stop.
Employers in FF-SHOP: Employers with coverage in the group market need to work with their agent to obtain other coverage as soon as possible. Upon liquidation, groups will have 30-45 days to secure coverage.
To change plans: Plan changes must be made through the Marketplace Call Center after February 15, 2015.Agents/brokers can call the Marketplace Call Center at 1-800-318-2596 (TTY: 1-855-889-4325).
For additional information: Please see the General Information and FAQs posted on the Iowa Insurance Division website (Welcome to IID | Iowa Insurance Division) and the Nebraska Departments website (Nebraska Department of Insurance).
-The End
The timeline of the demise of a Co-Op. First of many?
Instructions to agents included also
http://www.iid.state.ia.us/sites/default/files/press_release/2015/01/29/petition_pdf_11438.pdf
Commissioner files petition for liquidation of CoOportunity Health | Iowa Insurance Division
Instructions to agents included also
http://www.iid.state.ia.us/sites/default/files/press_release/2015/01/29/petition_pdf_11438.pdf
Commissioner files petition for liquidation of CoOportunity Health | Iowa Insurance Division
Exactly why I don't get involved in LTC sales! Why bother when half of your apps get denied because of health issues, and LTC underwriting is so strict! When O care was first passed, I got out of writing health plans completely. I feel your pain.
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Exactly why I don't get involved in LTC sales! Why bother when half of your apps get denied because of health issues, and LTC underwriting is so strict! When O care was first passed, I got out of writing health plans completely. I feel your pain.
- 8,448
It's interesting that Co-Opportunity Health still has over 13,500 members who haven't changed to another company. The subsidies were cut off on March 1st.
Other insurers in Iowa and Nebraska are paying the $80 million worth of un-paid 2014 medical claims, generated by Co-Opportunity members. (It seems unfair that private insurers have to cover for the wrongs inflicted by an ineptly run government entity, doesn't it?)
More... Backlog of CoOportunity claims paid in Iowa, Nebraska
ac
Other insurers in Iowa and Nebraska are paying the $80 million worth of un-paid 2014 medical claims, generated by Co-Opportunity members. (It seems unfair that private insurers have to cover for the wrongs inflicted by an ineptly run government entity, doesn't it?)
More... Backlog of CoOportunity claims paid in Iowa, Nebraska
ac
You don't really think other insurers are paying those claims, do you? Any losses are going to be passed along to the consumer, and due to subsidies, the more likely candidate to pay those claims is the taxpayer.
Ultimately everyone shares the risk.
Private industry does not pay taxes, their customers do.
When private industry goes belly up the losses are absorbed by taxpayers and consumers.
Consider this. If Acme goes out of business because their prices were too low, who suffers?
Their product will still be purchased, but only from their (former) competitors at (most likely) a higher price than they paid for the same item from Acme.
Also, unpaid debts of Acme are absorbed by their creditors. Those losses are similarly passed on to THEIR customers in the form of higher prices.
Karma is gonna get you.
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