CareConnect Market Exit Strategy - For Groups

As we await official word from the Department of Financial Services, we received notification today from CareConnect outlining their market exit strategy. We are expecting a formal broker blast from CareConnect later today, and communications to groups, employees, and individuals will start to go out early next week.

Yesterday, DFS approved the following strategy:

• Individual (On and Off Exchange): Market exit effective 12/31/17.

• Small group (On and Off Exchange): Market exit effective 11/30/2017. ** THIS IS NOT A HARD STOP** CareConnect will non-renew business starting 12/1/2017. Groups will be terminated as of their renewal date in 2018.

• Large group: Market exit 11/30/2017. **THIS IS NOT A HARD STOP** Same situation as the small group plans, CareConnect will non-renew business starting 12/1/2017. Groups will be terminated as of their renewal date in 2018.

• We are not recommending any broker write new business with CareConnect at this point, HOWEVER they are still accepting new business for 11/1/2017.

• CareConnect is not allowing any early terminations and rewrites. They are working with HealthPass to prevent this from happening on their platform as well.

• We have been advised all commissions will continue to be paid at their current levels until the group policies terminate.

We are working with our carrier partners to mitigate any disruption to your employer groups. Yesterday, Oxford released the attached CareConnect mapping strategy to help. We have also attached the network slicks that were released earlier this week.

• Oxford Explore Your Connections - CareConnect
• NY Oxford Liberty Employer Fact Sheet
• NY Oxford Freedom Employer Fact Sheet
• NY Oxford Metro Network Employer Fact Sheet 

Please reach out to us with any additional questions. As we get more updates and strategic plans from our other carrier partners, we will share that information with you.