Missouri will allow health insurance companies to continue cancelled plans, Gov. Nixon says in a press release.
The announcement comes on the heels of recent events that caused cancellations in millions of people’s insurance plans because of changes in the healthcare system brought about by the Affordable Care Act, Obamacare.
Nixon says his announcement seeks to address the recent uncertainty and disruptions policyholders have faced and is yet another example of how states are better-positioned to provide efficient and effective oversight of the insurance market.
The Missouri Department of Insurance will now notify health insurers serving the individual and small group markets in Missouri that any Missouri-compliant plans previously set to expire on Dec. 31 would be allowed to continue into 2014.
“Here in Missouri, my administration has been committed from Day One to fostering a stable, predictable insurance market and making sure Missourians have access to quality, affordable health insurance options,” Nixon says.
He says Dept. of Insurance Director John Huff has led efforts to provide certainty in this area and ensure all Missourians, including those affected by recent disruptions in the insurance market, have access to quality, affordable health coverage.
“In an effort to give Missourians as many insurance options as possible, the department will expedite the process for health insurance companies wishing to continue their Missouri-compliant plans into next year,” Huff says in the press release. “The department has not identified any Missouri law prohibiting this coverage to continue, so we will continue to communicate with affected Missouri insurance companies to ensure that the best interests and needs of the consumers are met.”
On November 14, 2013, the federal Centers for Medicare & Medicaid Services issued a letter to states describing a transitional policy that would allow policyholders to continue their coverage that was in effect on October 1, 2013, which would otherwise have been cancelled for non-compliance with federal health care reforms.
To view the department’s bulletin to health insurance companies, click HERE.