(Salem) - Zoom Health Plan has notified the Oregon Department of Consumer and
Business Services, Division of Financial Regulation of its intent to withdraw
from the individual and small group insurance markets in 2018.
Zoom Health Plan currently serves fewer than 2,000 members in individual and
small group plans. Zoom+ Care is a health provider that started offering insurance
plans - through a separately created company - in the Portland area in 2016.
Zoom will be submitting to the Division of Financial Regulation a plan to wind
down its insurance business effective Dec. 31, 2017. The division has placed
Zoom Health Plan under supervision, which means the division will be on site
and overseeing the insurance plan as it winds down. This allows the division
to ensure that there will be sufficient funds to pay all remaining claims. Zoom
is fully cooperating with the division in this process.
"We will work closely with Zoom Health Plan to ensure that individuals
and businesses currently enrolled in Zoom plans are protected," said Laura
Cali Robison, administrator of the Division of Financial Regulation.
All current individual and group insurance policies will be canceled effective
Dec. 31, 2017. Individuals will have an opportunity to find a new plan for 2018
when health insurance open enrollment begins on Nov. 1, 2017.
Businesses with small group coverage through Zoom Health Plan should call their
health insurance agent for help picking new health insurance. Individuals with
group coverage should contact their employer with questions.
For more information and frequently asked questions, visit: dfr.oregon.gov/business/resources/Pages/zoom-faqs.aspx.
The Division of Financial Regulation is part of the Department of Consumer
and Business Services, Oregon's largest business regulatory and consumer protection
agency. Visit www.dcbs.oregon.gov