Salem, OR—Zoom Health Plan has notified the Oregon Department of Consumer and Business Services, Division of Financial Regulation of its intent to withdraw from the individual and small group insurance markets in 2018.
Zoom Health Plan currently serves fewer than 2,000 members in individual and small group plans. Zoom+ Care is a health provider that started offering insurance plans – through a separately created company – in the Portland area in 2016.
Zoom will be submitting to the Division of Financial Regulation a plan to wind down its insurance business effective Dec. 31, 2017. The division has placed Zoom Health Plan under supervision, which means the division will be on site and overseeing the insurance plan as it winds down. This allows the division to ensure that there will be sufficient funds to pay all remaining claims. Zoom is fully cooperating with the division in this process.
“We will work closely with Zoom Health Plan to ensure that individuals and businesses currently enrolled in Zoom plans are protected,” said Laura Cali Robison, administrator of the Division of Financial Regulation.
All current individual and group insurance policies will be canceled effective Dec. 31, 2017. Individuals will have an opportunity to find a new plan for 2018 when health insurance open enrollment begins on Nov. 1, 2017.
Businesses with small group coverage through Zoom Health Plan should call their health insurance agent for help picking new health insurance. Individuals with group coverage should contact their employer with questions.
For more information, visit: http://dfr.oregon.gov/business/resources/Pages/zoo...
Lisa Morawski, 503-947-7873