According to an announcement by the Georgia Insurance Commissioner’s office, the State of Georgia will take over Friday Health Plans while it it’s placed in receivership due to the company’s insolvent status. Creditors refused to front the company additional capital to stay afloat and in business. Friday Health Plans is an insurance company on the Affordable Care Act exchange.
37,000 Georgians receive their health insurance from Friday Health Plans. Policyholders are encouraged to visit this web portal set up by the Commissioner’s office and the US Center for Consumer Information and Insurance Oversight. Taxpayers will not bear the bill while the State of Georgia takes over the program.
According to a statement by the Georgia Office Commissioner of Insurance and Safety Fire, Friday Health Plans policyholders will have health insurance coverage through July 31, 2023.
“To ensure Friday Health Plans policyholders have an opportunity to replace their current exchange coverage before it is terminated, effective August 1, 2023, our office coordinated with the federal office known as the Center for Consumer Information and Insurance Oversight to implement a special enrollment period for members to select another exchange health insurance plan,” the commissioner’s office said in a statement.
Important dates include:
- June 1: Special Enrollment Period begins
- July 31: Last day to enroll without a gap in coverage
- August 1: All Friday Health Plans policies are terminated
- September 29: Last day of Special Enrollment Period
Friday Health Plans had 382,000 enrollees in seven states, according to enrollment numbers compiled by ACASignups.net, an Affordable Care Act program tracking site.