Announcement seeks to address the recent uncertainty and disruptions policyholders have faced and is yet another example of how states are better-positioned to provide efficient and effective oversight of the insurance market, Gov. Nixon says
JEFFERSON CITY, Mo. – Gov. Jay Nixon today announced that the Missouri Department of Insurance would notify health insurers serving the individual and small group markets in Missouri that any Missouri-compliant plans previously set to expire on Dec. 31 would be allowed to continue into 2014.
“Today’s announcement seeks to address the recent uncertainty and disruptions policyholders have faced as a result of federal regulations and is yet another example of how states are better-positioned to provide efficient and effective oversight of the insurance market,” Gov. Nixon said. “Here in Missouri, my administration has been committed from Day One to fostering a stable, predictable insurance market and making sure Missourians have access to quality, affordable health insurance options. I applaud Director Huff for his continued efforts to provide certainty in this area and ensure all Missourians, including those affected by recent disruptions in the insurance market, have access to quality, affordable health coverage.”
“In an effort to give Missourians as many insurance options as possible, the department will expedite the process for health insurance companies wishing to continue their Missouri-compliant plans into next year,” said John M. Huff, Director of the Missouri Department of Insurance. “The department has not identified any Missouri law prohibiting this coverage to continue, so we will continue to communicate with affected Missouri insurance companies to ensure that the best interests and needs of the consumers are met.”
On November 14, 2013, the federal Centers for Medicare & Medicaid Services (CMS) issued a letter to states describing a transitional policy that would allow policyholders to continue their coverage that was in effect on October 1, 2013, which would otherwise have been cancelled for non-compliance with federal health care reforms.