NEWS RELEASE - LAHC forgoes participation in Open Enrollment - Friday, July 24, 2015
Metairie, LA - Today,
Louisiana Health Cooperative, Inc. (LAHC) announced that the company has
voluntarily decided that it will not participate in the upcoming open
enrollment period for policies effective January 1, 2016; but will continue to
honor policies and protect lives through December 31, 2015, as it begins to cease
operations. LAHC provides health insurance
coverage to more than 16,000 Louisiana members and is committed to making this
transition non-disruptive for all involved parties members, providers, employees
sustained itself over the last few years, but is not growing enough to maintain
a healthy future. By proactively and voluntarily addressing our situation now, LAHC
will be in a position to maintain all of its policies in force through the end
of the year, and to cover all outstanding claims and operating expenses,
stated Greg Cromer, LAHCs Chief Executive Officer. "We are committed to all of
those impacted by this decision, and we have capital allocated to fulfill all
financial obligations through and following the end of the year, including
staffing, provider funds and our other obligations.
proactively working with the Center for Medicare & Medicaid Services (CMS)
and the Louisiana Department of Insurance (LDI) to ensure that all required
deadlines are maintained, specifically as the open enrollment period
approaches. Members will have the opportunity to shop for new, 2016 health
insurance coverage during the upcoming annual open enrollment period and avoid any
lapse in health insurance coverage.
closure is voluntary and fully funded, it should have minimal impact to members
continue to act as a protector to our members, providers and dedicated staff.
Our priority is to continue to safeguard each group and create a seamless
transition. added Cromer. "There will be no
lapse in coverage for members; all providers will be compensated as owed.
LAHC is a nonprofit, locally managed and operated health insurance
company. With offices in New Orleans and Baton Rouge, LAHC is a home-grown company
that understands the distinct personality and needs of our community.
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