Optimum Customers: Important information about your Newsday digital access and an exclusive offer.

LEARN MORE
TODAY'S PAPER
81° Good Evening
81° Good Evening
Business

Northwell’s CareConnect to stop renewing group policies on Nov. 30

Northwell Health in New Hyde Park in

Northwell Health in New Hyde Park in Sept. 2016. Photo Credit: Google

Northwell Health on Friday said its insurance subsidiary will stop writing or renewing group policies as of Nov. 30.

The New Hyde Park-based health system also said its CareConnect unit would not write or renew individual policies for the 2018 calendar year.

Northwell said in August that it was shutting down CareConnect and withdrawing from the state insurance marketplace, in part because of the uncertainty of the Affordable Care Act’s future.

CareConnect’s 126,000 policyholders — including individuals, and small- and large-group accounts — remain covered while they transfer to new health providers.

One quarter of CareConnect’s policies are held by individuals, half are small-group coverage (often small businesses with 100 or fewer employees), and another quarter are large-group policies.

About 56 percent of CareConnect policyholders are Long Island residents, the company said.

Northwell said on Friday it worked with the New York Department of Financial Services to create a wind-down plan that halted new and renewal business as soon as possible.

Consumers seeking replacement coverage on the individual market can begin shopping in November for 2018 health coverage.

For replacement coverage in the small-group market, consumers can enroll with the state’s small-business marketplace now through Nov. 15 for coverage that begins on Dec. 1, 2017.

For more information, consumers can contact the NY State of Health online at nystateofhealth.ny.gov or by telephone at 1-855-355-5777.

More news