People covered by HealthyCT, the state's nonprofit health insurer, may need a new plan... [View all]

People covered by HealthyCT, the state's nonprofit health insurer, will soon need a new plan provider after the state Insurance Department said Tuesday that the organization's financial health was seriously jeopardized.

An order of supervision was issued by the department, meaning that roughly 10 percent of Connecticut residents with health insurance policies bought through Obamacare will have to switch insurance companies by the end of the year — about 10,500 customers.

Another 27,000 policyholders, covered under group plans through small and large businesses, could have to switch sooner. Those with plans set for renewal Aug. 1 will need to find a new health insurer before then, while those that had their plans renewed July 1 will be covered by HealthyCT through June 30, 2017.

"People shouldn't panic," Insurance Commissioner Katharine Wade said Tuesday afternoon. "They're going to have their coverage to the end of the year. The providers are going to get paid."

Read the rest at: http://www.courant.com/business/connecticut-insurance/hc-obamacare-healthy-ct-20160705-story.html