The health insurer has now announced its intentions to step out of the state and will be notifying its customers.
The Montana insurance marketplace will soon have one fewer company to include among those selling health plans, as Assurant has filed its notice to leave the state and will soon be sending its policyholders their notifications, as well.
The Wisconsin-based health insurance company is seeking to step out of this type of offering.
Assurant Health has said that it will be leaving the 7,283 customers that it serves in the Montana insurance industry as a part of its broader plans to stop selling and renewing these policies, overall. It is working on making its way out of the national health insurance industry as a whole. At the moment, the majority of the coverage that Assurant has been providing within that state has been through affiliated insurers such as John Alden Insurance Co. and Time Insurance Co.
Assurant represents one of only four major insurers that sell health plans within the Montana insurance market.
It was only last year that Assurant joined the health insurance market in Montana, when it started to sell plans on the exchange in that state. Now, the company has filed notice with Monica Lindeen, the state insurance commissioner, to make its intentions to leave Montana official. The company is now obligated to provide its customers with six months of notice ahead of its withdrawal from the market.
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Policyholders who have health plans through the company will start to receive those letters as of this week. This will let them know that after December 31, their health plans will not be renewed. This, according to Christina Goe, the general counsel of the insurance commissioner.
Group policies that have renewal dates that are beyond the end of this year will be discontinued after their ending dates, without the option for renewal. Goe explained that “Their plan is to be completely out in 2016.”
Officials from the insurance company did not immediately respond to requests that were made for comments about their decision to withdraw from selling Montana insurance policies.