There are both state and federal laws that protect employer groups and individuals who purchase health insurance here in NH. In a press release the NH Insurance Department made clear a few rules:
- Health insurance in NH Is a guaranteed renewable. If an insurer decides to stop offering a specific plan they must provide the consumer with 90 days advance noticed AND “the option to purchase any other health coverage currently being offered” by the company in the same market (individual, small group, or group).
- If a health insurance company decides to leave NH they must give notice 180 days in advance
- Insurance companies that exit a group or individual market will be barred from re-entering that market for 5 years
In addition the NH Senate has passed an amendment to House Bill 469 that will offer authority to the NH Insurance Commissioner (operating under guidance from the legislature and Gov. Sununu) to take steps to shore up the NH Health Insurance market. These steps to strengthen the health insurance market include:
- Seeking a federal waiver and funds to stabilize the market
- Working with the NH Health Plan
For questions about how upcoming changes will impact your NH group or individual health insurance coverage please call Steve Donohue of Atlantic Insurance & Benefit Co. (a health insurance professional in NH since 1996) a call at 603-882-2909.