Alert: If you have these two Obamacare plans, change immediately

alertOne day before an extended deadline to secure Jan. 1 health coverage, the Florida Office of Insurance Regulation issued a consumer alert on two companies Wednesday.

Officials reminded consumers Cigna Health and Life Insurance Co. and Preferred Medical Plan Inc. will no longer be providing coverage to policyholders on the Affordable Care Act exchange for plan year 2016.

The insurance office said it “strongly urges consumers who purchased health insurance coverage on the Health Insurance Marketplace (Exchange) in 2015 through either Cigna Health and Life Insurance Co. or Preferred Medical Plan Inc. to take action immediately and select another plan, if they have not already done so, by visiting www.healthcare.gov.”

The deadline has been extended to Thursday to secure coverage effective Jan. 1.

A majority of affected policyholders are located in the South Florida region, officials said, though they did not say how many may still need to take action.

Cigna repeated a statement The Palm Beach Post reported in October, blaming addiction treatment fraud for its decision not to offer marketplace plans in 2016, though the company hopes to resume in 2017. An estimated 30,000 customers were affected, the newspaper reported at the time.

Preferred, based in Coral Gables, said a maximum of 77,000 customers are affected. A company statement cited problems in the federal government’s “risk corridor” plan, where Congress blocked certain sources of funding for the program intended to help insurers cover unexpected losses.

 

 

 

 

 

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