However, since Friday’s deadline to secure new insurance, affected members started getting letters offering insurance through a state association.
The Illinois Life and Health Insurance Guaranty Association may still cover members who are up-to-date with their payments to Land of Lincoln. In addition, if members pay their full October premiums to Land of Lincoln before Oct. 15, they can sustain coverage through the association, which protects members from insurance failures.
The entity will not pay more than $500,000 for individual health expenses. It provides a narrow provider network and members will not be eligible for federal subsidies. However, affected Land of Lincoln policyholders can remain covered through the remainder of the year through the association if they do not purchase other plans, according to the Chicago Tribune.
Chicago-based Land of Lincoln Health was placed under state control in July and shut down — leaving 49,000 uninsured — in light of $31.8 million it owes under the Affordable Care Act’s risk adjustment program.
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