In addition to what was previously published, we have also learned that Emblem will no longer be accepting applications for new small group business beginning 9/1/13.
More importantly however, rumor has it that Emblem will be pulling and terminating all small group health plans effective 1/1/14. While this is not yet official, it is highly unlikely this will not happen as Emblem is clearly moving towards the individual exchange market as part of the Affordable Care Act. Emblem has lost millions of dollars due to the state insurance departments not granting them the rate increases they needed to maintain their small group products.
We will update everyone once an official Emblem announcement is released.
The small group health insurance market in New York continues to contract with today’s announcement that HealthPass NY and Emblem Health have terminated their partnership agreement effective 12/31/13. Over the past few months, Emblem Health began drastically reducing their small group product portfolio in preparation of focusing on the individual health insurance exchange market in New York beginning 1/1/14.
While HealthPass is claiming talks with Emblem Health are ongoing to resume their relationship come 2014, it is highly unlikely this will occur due to Emblem’s new market direction. Thus at this time, the two remaining health carriers HealthPass NY is working with are Oxford and Easy Choice.
Full details of HealthPass’s announcement can be found here.
For more information on how to replace your small group health insurance plan for your business come 1/1/14, contact an insurance broker who has access to other carrier markets, which includes Aetna.