Finally, some good news for struggling Louisiana businesses. The Department of Insurance has placed a moratorium on cancelling health insurance policies due to failure to pay premiums. Some FAQ….
does this mean my business doesn’t owe the $$? No. You will owe your carrier for the premium, but you will not be terminated if you don’t. Please call your agent or carrier asap to discuss terms.
what policies does this cover? Just about everything! Health, accident, medicare supplement, disability, long term care……..again, call your agent or carrier just to be sure!
can my policy be cancelled for other reasons? Absolutely. Fraud and material misrepresentation, for example.
Special thanks to Commission Jim Donelan and the Louisiana Department of Insurance for looking out for businesses and consumers in the state.