American Community Health Insurance going out of business.
62American Communities Health insurance business transering their business to United Health Care
On April 8, 2010, the
Michigan Office of Insurance Regulation's ("OFIR") Commissioner Ken Ross
obtained an order from a Michigan Circuit Court placing American Community
Mutual Insurance Company ("American Community") into rehabilitation and naming
Ross as the company's rehabilitator.
Last Wednesday, the court approved a
Transition Plan Agreement submitted by the OFIR which provides 42,000 of
American Community's insured individuals in 15 states the option to transfer
their coverage to UnitedHealthcare's Golden Rule Insurance Company ("Golden
Rule") on a guaranteed basis and without any lapses in coverage. The OFIR's
press release indicated this will help American Community's customers remain
continually insured by giving them access to quality and affordable health-care
coverage from Golden Rule, a well respected and financially sound
insurer.
Starting in July, Golden Rule will be mailing letters to the
eligible American Community customers with the details of the offer which will
include:
- The option to purchase a guaranteed-issue plan with no waiting periods or
preexisting condition exclusions or limitations at standard new business rates.
- If they previously had a copay plan, they will be offered Golden Rule's Copay SelectSM; and
- If they had a high deductible health plan with a health savings account they will be offered Golden Rule's HSA 100SM.
- The option to purchase an underwritten plan for those seeking benefits
different from the guaranteed-issue offering.
- Pursuing this option will not affect their rights to the guaranteed-issue plan, so long as they act within 30 days of Golden Rule's underwriting decision.
- Each option includes access to the expansive UnitedHealthcare Choice Plus network of hospitals and doctors.
- For those who take advantage of the guaranteed issue offer, their new coverage with Golden Rule will take effect on August 15, 2010.
Golden Rule is pleased to work with the OFIR to help American Community customers and looks forward to helping thousands of Americans who could have been left without health insurance protection.
