Consumers have a choice:
Keep current plans a little longer
or shop for more comprehensive plans and financial assistance through Cover
(Salem) — Today, nine insurance companies notified the Oregon
Insurance Division that they will offer the option to renew current individual
health plans that are not compliant with the federal Affordable Care Act.
Offering to renew through March 31, 2014: Moda Health Plan,
Inc., and PacificSource Health Plans. These plans cover a little less than 40
percent of people in the individual market.
Offering to renew through Dec. 31,
2014: Regence BlueCross BlueShield of Oregon, Kaiser Foundation Health Plan of
the Northwest, Providence Health Plan, LifeWise Health Plan of Oregon, Health
Net Health Plan of Oregon, Inc., Time Insurance Company and John Alden Life
Insurance Company. These plans cover about 60 percent of people in the
Companies must notify their customers of their options by
Nov. 29, 2013. Consumers who want to renew their current plan must opt-in to
keep their current plan. The renewals will not be automatic. To be eligible, people
must have been covered by their plan as of Oct. 1, 2013 and continue coverage
through Dec. 31, 2013.
People who choose to keep their existing plans will not
qualify for tax credits to lower costs through Cover Oregon, but they will
avoid a tax penalty in 2014 under the individual mandate.
Last week, Oregon Insurance Commissioner Laura Cali gave
insurers the option of continuing existing plans through March or December of
next year. Companies had to notify the Insurance Division Friday with their
With today’s announcement Cali also stressed that Oregon
consumers have more choices than ever in 2014.
“Consumers can choose to keep current plans a little longer
or they can choose to shop for more comprehensive benefits and financial
assistance through Cover Oregon,” Cali said.
The Insurance Division is part of the Department of
Consumer and Business Services, Oregon’s largest business regulatory and
consumer protection agency.