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Nippon Life Benefits - Notice of Withdrawal from NY Small Employer Group Medical Market

Story Content Provided by Nippon Life Insurance Co. on 6/7/13

Nippon Life Insurance Company of America, NAIC # 81264 180-Day Notice of Withdrawal from Small Employer Group Medical Market Segment in New York State in 2014 pursuant to 3221 § (p)(3)(E)

Please be advised that Nippon Life Insurance Company of America ("Nippon") intends not to market, issue or renew small group medical insurance in New York State after December 31, 2013. This difficult decision is part of a broad strategic shift in Nippon's small group medical insurance portfolio. We will continue to offer dental, STD, LTD, life and large employer group medical insurance in New York. We will maintain our Manhattan corporate headquarters and eastern region sales office in support of our ongoing lines of business.

What this change means for all Nippon New York small employer medical insurance groups, including yours, is that we will not be offering to renew your small group medical benefit plan at your next anniversary date in 2014. That will be your cancellation date.

You will have options to obtain other coverage for your employees before your cancellation date. As a carrier, we will honor any continuation or conversion benefits which your plan may confer. Additionally, in 2014, small medical insurance will be available on a guaranteed issue basis to all eligible small employers from any insurance carrier actively marketing small employer coverage in New York. If helpful to you, we can arrange for an early cancellation date for your Nippon Health Benefit Plan, should you request it, to coincide with any replacement coverage you may purchase.

As required by Labor Law Section 217, Insurance law Section 4235 and Title 11 of the New York Codes Rules and Regulations Section 55.2, Nippon hereby advises you of certain rights and obligations set forth in these sections.

All covered members, subscribers and certificate holders and their covered dependents shall be afforded the following rights under the termination policy: