Staff at AVMA GHLIT tell us they have received many calls from members wondering if the health care extension approved last week by President Obama applies to them – but unfortunately, it does not.
Because New York Life is leaving the medical insurance market entirely, it is unable to extend its coverage for GHLIT members past the end of 2013, according to a statement released through GHLIT.
The full New York Life statement reads as follows:
“The recent news that health insurers can extend coverage under their existing policies into 2014 does not apply to your medical coverage with New York Life. The reason is that New York Life is withdrawing completely from the medical insurance market. The president’s new transition plan will permit carriers who are remaining in the individual market to continue to maintain coverage under existing policies after 12/31/13 even though those policies would not comply with the requirements of federal health care reform laws. Unlike New York Life, which is closing its group major medical business serving associations next month, those carriers will presumably remain in the individual health insurance market and offer policies that comply with federal health care reform in 2014. By virtue of having formally withdrawn from the health insurance market in all states, New York Life is unable to offer health insurance after 12/31/13.”