CareConnect is winding down. Its parent company, Northwell Health, has decided to withdraw from New York’s insurance market. As part of this decision, CareConnect is closing all of its operations for small group, large group and individual plans.
The process will be a slow one, and it should not affect members or providers in the immediate future. CareConnect has assured everyone that current coverage remains intact. Health plans will not change this year, and neither will policies written for 2018. The carrier will continue to pay claims and operate as usual.
CareConnect has submitted a withdrawal plan to New York’s Department of Financial Services. More details will be made available upon the plan’s approval, including the final date for the issuance of new policies. We will provide more information as we receive it.
CareConnect did not include a reason for the decision in its announcement, other than to say that it was difficult choice for Northwell Health given CareConnect’s success in improving health care quality while keeping costs down.
In a statement on the decision, the Department of Financial Services points to the current uncertainty regarding the Affordable Care Act as a cause. The Department of Financial Services also promises to work with CareConnect to ensure a smooth transition and to help members receive uninterrupted health care coverage.
Need to know your options? Contact BNC’s Employee Benefits Department.