Franklin Circuit Judge Phillip J. Shepherd signed a petition last week to place Kentucky Health Cooperative into rehabilitation. This will allow the Kentucky Department of Insurance to oversee the day-to-day operations of the nonprofit health insurance company to protect consumers and providers.
Kentucky Health Cooperative previously announced it would not be participating in the 2016 open enrollment on kynect, the state’s health insurance exchange, and said it had decided to complete a voluntary runoff of its business.
Kentucky Health Cooperative members have coverage through December 31, 2015, but should contact an agent or shop on kynect for new coverage to begin January 1, 2016. To have replacement coverage by January 1, 2016, a consumer must purchase a plan by December 15, 2015. Open enrollment began November 1, 2015, and runs through January 31, 2016.
Once a company is placed in rehabilitation, the Department of Insurance takes control of the company and handles the day-to-day operations. The state assumes no liability throughout this process because the Department of Insurance works to preserve the estate’s resources to pay for all expenses to the benefit of consumers and providers.
Kentucky Health Cooperative policyholders and providers with complaints or other issues related to the rehabilitation action should contact the Department of Insurance at 800-595-6053.
Depending on the county where an individual lives, kynect enrollees could choose from as many as seven insurance companies with expanded provider networks offering a total of 86 private health insurance plans. The insurance carriers for 2016 are Aetna, Anthem, Baptist Health, CareSource, Humana, UnitedHealthcare and WellCare. Two insurers, Anthem and UnitedHealthcare of Kentucky, will offer plans to residents in all 120 Kentucky counties.
To learn more about affordable health care options, visit https://kynect.ky.gov or call 855-4kynect (459-6328).
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