Aetna withdrawing from Indiana individual health insurance market effective December 1, 2011
On May 12th, Aetna announced the discontinuation of new business sales for our Aetna Advantage Plans for Individuals, Families and the Self Employed in Indiana. Online quoting and application submission for these plans has been disabled.
We are writing today to advise of Aetna’s decision to withdraw from the individual health insurance market and the impact to our existing members.
Note: Aetna will continue to offer AARP® Essential Premier Health Insurance Plans, insured by Aetna and Small Group Plans (groups with 2-50 employees) in Indiana.
Impact to existing members
Our withdrawal will occur in steps over a 6 to 18 month period.
Members do not need to take any action at this time. They will be able to maintain coverage under their current Aetna policy until at least December 2011. Depending on the date of their annual policy renewal, their coverage will end between December 1, 2011 and December 1, 2012.
From June 1, 2011 through November 30, 2011: All existing policies will remain in effect. An existing policy may be renewed if the date of the annual policy renewal occurs by November 30, 2011. The renewal period will be one year.
From December 1, 2011 through December 31, 2012: All outstanding policies will end on the date of their annual policy renewal. For example:
* If a policy renewed on February 1, 2011, coverage will end February 1, 2012.
* If a policy renewed on August 1, 2011, coverage will end on August 1, 2012.
We will continue to allow existing Aetna Advantage Plan members in Indiana to add spouses and dependents to their plans until their coverage ends. However, existing members will not be able to change plans.
How will individual members be notified of this change?
All existing policyholders will be notified by mail on or about June 1, 2011.
While Aetna will continue to administer their individual health plan for at least six months, policyholders are strongly encouraged to seek alternative health insurance coverage prior to their policy termination date indicated above. Members may be eligible for coverage under either Indiana Comprehensive Health Insurance Association or under individual Indiana Health Plan. More information on these two coverages is available at www.indianahealthagents.com.