The New York State Department of Financial Services last month approved the North Shore-LIJ Insurance Company Inc.'s application for an insurance license.
This marks one of the first times in state history that a major health system has created a controlled insurance company to sell commercial health insurance to individuals, families and employers, according to a press release from North Shore-LIJ officials.
North Shore-LIJ Insurance Company Inc. will begin marketing a wide range of commercial insurance plans on and off the New York Health Benefit Exchange to individuals and families in Long Island, Queens, Staten Island and Manhattan under the brand name "North Shore-LIJ CareConnect."
North Shore-LIJ CareConnect members will have direct access to:
- Inpatient care provided at 15 hospitals;
- Outpatient and specialty care offered at nearly 400 physician and ambulatory practices;
- After-care services such as home care and rehabilitation; and
- Thousands of physicians, physician assistants, nurse practitioners and other caregivers throughout the New York metropolitan area.
"As the first provider-owned health plan in New York, North Shore-LIJ CareConnect will be able to deliver a simple, total solution for individuals, families and businesses looking to access both high-quality medical care as well as more-affordable insurance coverage," said Michael J. Dowling, president and chief executive officer of North Shore-LIJ. "During an era when health care is becoming increasingly confusing, we're simplifying the process and transforming the way we connect with and serve our customers. In addition, taking risk for a population in this manner will significantly add to our capabilities to work productively and creatively with other third party insurance company partners."
Starting in October 2013, it is expected that consumers will be able to purchase North Shore-LIJ CareConnect insurance through the New York Health Benefit Exchange. The Exchange is an online marketplace where individuals and employers can purchase health insurance, and compare benefit plans, premium prices, subsidy amounts, tax credits and other related information. The health insurance plans will take effect Jan. 1, 2014. Plans will also be available outside the Exchange from storefront locations.
"We'll be offering a new connection for individuals who find it difficult to get access to care and insurance," said Howard B. Gold, the health system's executive vice president of managed care and business development.