NJ Spotlight published the following article on December 11, 2013. To read the full article, click here.
Horizon Decides Agains Renewing Small-Group, Individual Insurance Plans
ANDREW KITCHENMAN | DECEMBER 11, 2013
Horizon Blue Cross Blue Shield of New Jersey won’t be renewing any of its current health insurance plans for individuals and small groups in 2014, as they were invited to by President Obama, citing tight deadlines and minimal benefits that would come from extending the plans.
But a loophole will still allow people to renew their policies before the end of the month by applying for early renewals of their policies.
Horizon is offering an entirely new slate of plans that comply with the 2010 Affordable Care Act beginning on January 1, when many provisions of that law are scheduled to go into effect.
Horizon “had been working to implement the Affordable Care Act for the past three and a half years, and undoing our work and essentially creating new plans in three weeks has proven to be impossible,” said company spokesman Thomas Rubino.
The state’s largest insurer had been weighing its options since President Obama announced on November 14 that a number of federal regulations wouldn’t be applied to the existing policies for the time being, potentially allowing insurers to extend plans.