Consumers’ Choice Health Insurance Company will not offer coverage next year in the Health Exchange, leaving its 67,000 subscribers to find another plan next year, state insurance officials said Thursday.
“They are in a financially hazardous condition,” Ray Farmer, director of the state Department of Insurance, told The Greenville News.
“I did not have faith in their financial ability to conduct business throughout the entire year of 2016,” he added. “At some point in time, we would have had to take some action because of their financial condition.”
Farmer said that subscribers can continue to use their benefits through Dec. 31 and that all claims will be paid. Providers can be assured of payment as well, he said.
“For those people insured by Consumers’ Choice, their policy is still good through the end of the year,” he said. “And they should continue to pay premiums throughout the end of the year as well.” For the full article click here
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