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NJ’s biggest insurer canceling bare-bones plan

11-27-13

TRENTON, N.J. (AP) — New Jersey’s largest insurance company says it will move ahead with the cancellation of its bare-bones health coverage, pushing subscribers toward new plans offered on an insurance exchange.

Most of the 90,000 people covered by Horizon Blue Cross Blue Shield’s basic and essential plan are expected to qualify for subsidies for more comprehensive coverage available on the marketplace. The company tells The Record (http://bit.ly/18nJAJm ) that premiums would have been higher if the policies were continued.

The customers are among 150,000 New Jersey residents who faced insurance coverage cancellations because their plans did not conform to requirements of President Barack Obama’s health insurance overhaul.

Obama has announced that those policies could be continued if states would allow it.

Gov. Chris Christie said Tuesday he would leave the decision up to insurers.

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Information from: The Record (Woodland Park, N.J.), http://www.northjersey.com