If you are currently enrolled with Land of Lincoln Health Insurance, this update directly affects you! After losing more than $90 million in 2015 and another $31.8 million in payments still due, the company is now being shut down by the State of Illinois. The shut down will affect about 49,000 people.
Policyholders of Land of Lincoln Health Insurance should expect an official letter detailing the shut down, including the official termination date. The state is allowing policyholders to purchase replacement coverage from a different insurer before their current plan terminates.
- Continue to pay your insurance payments to retain coverage until you switch providers.
- Failing to pay your premiums can result in losing your coverage prior to shut down and put your special enrollment in jeopardy!
- Health care providers are required to continue to honor their contracts with Land of Lincoln Health Insurance. Do not pay out-of-pocket for normally covered expenses!
- When you switch providers, your out of pocket & deductible amounts start over with the new plan.
Once you've received the formal shut down notice, contact your health insurance broker to assist you with any questions and transitioning to a new plan.