Members Health Plan NJ winds down as a result of COVID-19

[ExGingi]

Employers in NJ were able to obtain group health coverage through a Member's Health Plan NJ which is a brand used by Affiliated Physicians and Employers Master Trust.

FWIU it was created in order to cut out the greedy profit-driven insurance companies and pass-on savings to members.

Yet, it was never an insurance company, and while it did have reserves, those were not enough to cover the significant blow from COVID-19.

Attached are some documents sent out. But one of the most interesting pieces IMHO is the following slide showing the impact of COVID-19 on this group.

[AsherO]

Employers in NJ were able to obtain group health coverage through a Member's Health Plan NJ which is a brand used by Affiliated Physicians and Employers Master Trust.

FWIU it was created in order to cut out the greedy profit-driven insurance companies and pass-on savings to members.

Yet, it was never an insurance company, and while it did have reserves, those were not enough to cover the significant blow from COVID-19.

Attached are some documents sent out. But one of the most interesting pieces IMHO is the following slide showing the impact of COVID-19 on this group.

If it wasn't insurance, wouldn't members be uninsured and the US government would cover their treatment of COVID19?

My understanding is that the government is paying for testing and treatment of COVID19 for anyone who is otherwise unisured.

[ExGingi]

If it wasn't insurance, wouldn't members be uninsured and the US government would cover their treatment of COVID19?

My understanding is that the government is paying for testing and treatment of COVID19 for anyone who is otherwise unisured.

Uninsured ≠ self-insured.

This was a self-insured association (not sure if that's the exact legal structure/definition, but that's the gist) with benefits administered by Aetna (FTR - many large employers are self-insured, with benefits administered by one of the large health insures).

[joeberg]

Is there any chance of them surviving and is there any similar type of insurance. We had this plan and we are scrambling to find replacement.

[ExGingi]

Is there any chance of them surviving

Based on the letter I posted above, I would say chances are slim to none, and slim is long gone.

and is there any similar type of insurance. We had this plan and we are scrambling to find replacement.

Similar in what way?

[joeberg]

That would allow a company plan w/o medical UW.

Thank you,