SeeChange Health Insurance Withdraws from Market effective January 1, 2015
SeeChange Health will be withdrawing from the California and Colorado group health insurance markets effective January 1, 2015.We are working to transfer our policyholders to another, established carrier and will announce details of this arrangement as soon as possible.
We are committed to making this transition as seamless as possible for you, your clients and their employees. SeeChange Health is working with the Departments of Insurance to protect your clients. We are confident SeeChange Health has the capital and reserves necessary to pay all eligible claims for which we are responsible. By September 15th, SeeChange Health Insurance will provide you specific information concerning your client’s options and help facilitate their transition to new coverage. Your clients will receive customized information packages and forms by the end of September. (We’re expediting this communication for groups renewing on October 1st).
Existing groups covered by SeeChange Health Insurance will be allowed to renew this coverage through December 1, 2014. Grandmothering will be available to eligible groups. However, regardless of a group’s renewal date, coverage with SeeChange Health Insurance will end at midnight, December 31, 2014.
Cases submitted to SeeChange Health Insurance for November or later effective dates will be returned to the broker or general agency submitting the applications. Groups already in underwriting or approved for September or October effective dates will be issued policies unless withdrawn by the broker or general agency prior to their initial effective date. Coverage for new sales will end at midnight, December 31, 2014.