Minuteman Health to Stop Offering Insurance in 2018

CONCORD, N.H., June 23 -- The New Hampshire Department of Insurance issued the following news release:

Minuteman Health, Inc., a Massachusetts-based insurance co-op offering individual and small group health insurance plans in New Hampshire, announced today that it will stop writing business as of January 1, 2018.

The company, which insures about 27,000 individual members and three dozen small group members in New Hampshire, began offering coverage in the state in 2015. Minuteman Health, in cooperation with state and federal regulators, decided not to offer insurance in 2018 because its capital and surplus have been significantly reduced over time. The company plans to use its resources to pay all claims incurred under existing policies.

"New Hampshire residents who have health insurance through Minuteman Health can expect they will be covered through the end of 2017," said New Hampshire Insurance Commissioner Roger Sevigny. "Policyholders will receive written notice during the next 60 days that their coverage will not be continued beyond January 1, 2018 and of their right to choose a new plan for 2018 through HealthCare.gov. Open enrollment runs from Nov. 1 to December 15."

The New Hampshire Insurance Department has been working closely with the Massachusetts Division of Insurance, the U.S. Department of Health & Human Services, and the Centers for Medicare and Medicaid Services to monitor Minuteman Health's financial operations and protect the interests of its members. Minuteman Health will stop offering insurance in both states in 2018.

Based on the latest available financial information, Minuteman Health claims can be paid in full without interruption, including on health care services provided throughout the remainder of the year, and health care providers can expect that their claims will be processed without interruption.

The New Hampshire Insurance Department has received an application from Minuteman Health's leadership to form a new company that, if successful, would begin offering coverage in the state beginning on Jan. 1, 2018.

"It is not unprecedented for the leadership of a co-op to seek to continue a market presence under a new company with a non-co-operative governance structure," said Insurance Commissioner Roger Sevigny. "We would welcome a new company in this marketplace that could offer continuity of coverage for those currently enrolled with Minuteman Health."

The new insurer would need to be authorized to write insurance in Massachusetts and New Hampshire before August 16 in order for it to be eligible to offer insurance on New Hampshire's federally facilitated exchange and the Massachusetts Connector as of January 1, 2018.

The New Hampshire Insurance Department can help: New Hampshire residents with questions about their Minuteman Health coverage can call the number on the back of their insurance card or contact the Department's Consumer Services Division at 1-800-852-3416 or by email at [email protected].

The New Hampshire Insurance Department's mission is to promote and protect the public good by ensuring the existence of a safe and competitive insurance marketplace through the development and enforcement of the insurance laws of the State of New Hampshire. For more information, visit www.nh.gov/insurance.