Land of Lincoln Health’s insurance coverage for its individual enrollees will end Oct. 1, according to the Illinois Department of Insurance.
The agency posted the news on Land of Lincoln’s website. A green banner now greets visitors to the website with the headline, “Important notice to all members” with a link taking them to information about the Chicago-based insurer’s impending shutdown. The notice comes a week after the agency moved to seize control of the financially troubled Chicago-based insurer.
The failure of Land of Lincoln has triggered a “special enrollment” period under the federal Affordable Care Act that will allow the insurer’s approximately 39,000 individual enrollees to pick a new plan for the last three months of the year on Healthcare.gov, the federal health insurance marketplace. The notice advised employers who purchased group coverage from the company to contact their insurance agent or broker to explore their options. Land of Lincoln has about 10,000 group enrollees.