Iowa's Insurance Commissioner this month encouraged Iowans still in the CoOportunity health plans to change policies.
Nick Gerhart expects the liquidation of CoOportunity Health to begin at the end of the day Saturday. Starting Sunday, the 2,000 Iowans still in CoOportunity plans will lose any tax credit assistance and cost-sharing reductions, and will face higher premiums or termination for failing to pay the entire premium.
“Iowans hoping to utilize tax credits and cost-sharing reductions to help pay for their health insurance must act by February 28, 2015, to keep that financial assistance,” Gerhart said. “Failure to act by that date will result in cancellation of that assistance and the individual must pay the entire premium due or face cancellation of their health insurance.”
Beginning March 1, there will be a 60-day special enrollment period for all Iowans who are still in the CoOportunity plans. This special enrollment period is for Iowans who purchased either on or outside of the Health Insurance Marketplace.
All CoOportunity small group plans will be canceled within 45 days of March 1, and all plans will be canceled 180 days after March 1.