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Friday Announces Winding Down Business In Multiple States

July 5, 2023

Friday Health Plans has experienced remarkable growth, demonstrating the strength of its mission to provide affordability, simplicity, and outstanding customer service. Unfortunately, the company has faced challenges in scaling its financial infrastructure to keep up with this rapid growth and secure the additional capital required to sustain its operations. In line with the decisions made by State regulators in the regions where it operates, Friday Health Plans has determined it necessary to gradually wind down its business operations. The company firmly believes that this course of action is in the best interest of its valued members.

Below, you will find specific state-related information and resources to facilitate a smooth transition during this period. Your support in assisting your clients in finding suitable alternative coverage, as needed, is greatly appreciated.

Colorado

In accordance with the Colorado Division of Insurance, Friday Health Plans of CO policies will remain valid until the end of the 2023 plan year, specifically until December 31, 2023. To ensure continuous coverage, members are advised to continue paying premiums for the remainder of the year.

Georgia

Members in Georgia will receive notifications from both CMS and Friday Health Plans, notifying them that their coverage will conclude on July 31, 2023. Instructions on how to obtain a new plan and access frequently asked questions can be found here. Members will have the opportunity to enroll in a new plan with a different carrier starting from June 1, 2023, until July 31, 2023. If a new plan is selected within this period, coverage will commence on August 1, 2023. If a member does not enroll in a plan with a new carrier by July 31, 2023, they will be granted an extension until September 29, 2023. However, please note that failure to enroll with another carrier by July 31, 2023, may result in a gap in coverage. If a member does not select a new plan before October 30, 2023, they will need to wait until the Open Enrollment Period begins in November to enroll in alternative coverage.

Nevada

Friday Health Plans is currently collaborating with the Nevada Division of Insurance to finalize the wind-down process. General information can be found on the state's website. Further updates will be communicated as soon as they become available.

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North Carolina

Members in North Carolina will receive notifications from both CMS and Friday Health Plans, indicating that their coverage will end on August 31, 2023. Instructions on how to obtain a new plan and access frequently asked questions can be found at the provided link. Members will have the opportunity to enroll in a new plan with a different carrier between July 2, 2023, and August 31, 2023. If a new plan is selected during this period, coverage will commence on September 1, 2023. If a member does not enroll in a plan with a new carrier by August 31, 2023, they will be given until October 30, 2023, to enroll with a new carrier. However, please note that failure to enroll with another carrier by August 31, 2023, may result in a gap in coverage. If a member does not choose a new plan before October 30, 2023, they will need to wait until the Open Enrollment Period begins in November to enroll in alternative coverage.

Oklahoma

Members in Oklahoma will receive notifications from both CMS and Friday Health Plans, indicating that their coverage will end on August 31, 2023. Instructions on how to obtain a new plan and access frequently asked questions can be found at the provided link. Members will have the opportunity to enroll in a new plan with a different carrier between July 2, 2023, and August 31, 2023. If a new plan is selected during this period, coverage will commence on September 1, 2023. If a member does not enroll in a plan with a new carrier by August 31, 2023, they will be given until October 30, 2023, to enroll with a new carrier. However, please note that failure to enroll with another carrier by August 31, 2023, may result in a gap in coverage. If a member does not choose a new plan before October 30, 2023, they will need to wait until the Open Enrollment Period begins in November to enroll in alternative coverage.

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