The Idaho Department of Insurance is trying to explain why a number of Idaho carriers have discontinued individual or small group health plans. Gem State consumers are beginning to receive letters from the carriers informing them of the discontinuation of their policies.
Idaho Insurance Department Director Bill Deal said that most of the state's existing individual plans don't meet the 2014 criteria of health plans put into effect by the Affordable Care Act. As a result, the insurance companies have been told that they must discontinue offering or renewing all non-grandfathered plans after Dec. 31. Policyholders will be able to stay on their existing plan up their renewal date, if they choose. Carriers are being required to notify their policyholders of the discontinuation, or non-renewal, of plans at least 90 days prior to the date of discontinuation.
If consumers don't know if their policy is grandfathered, they should contact their insurance carrier.
The DOI said Idahoans may qualify for "premium subsidies" or "cost-sharing benefits" if they choose to purchase plans on Your Health Idaho—Idaho's recently launched health insurance exchange.