Tag: health insurance co-op

Second Oregon health insurance co-op facing liquidation

H. Cutner
Oregon Health Insurance technology

The market in the State is continuing to experience a shakeup as a nonprofit insurer must liquidate assets. For the second time, an Oregon health insurance co-op has received a receivership order. This started last week and will now be sending Health Co-op assets into liquidation after facing notable financial struggles. The insurance company was a nonprofit and was consumer-operated, created under the ACA. The Oregon health insurance company’s board of directors voted on Friday. Their decision was to consent to the receivership order from state regulators. This takes the…

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Insurance co-op in Oregon shutting down

G. Turner
Oregon Health Insurance technology

The state is losing a cooperative from its 2016 marketplace, as it has started a “wind down of business”. An Oregon insurance co-op is now stepping out of the state’s health plan market for next year as it has entered into a “wind down of business”, claiming that the recent announcement from the government that it will honor only 12.6 percent of the risk corridor payment of insurers is to blame. This withdrawal of the co-op will mean that there will be 15,000 members in the state without coverage. The…

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Nevada health insurance co-op to shut down in 2016

S.Vagus
Nevada health insurance commissioner State Legislature Building

State’s insurance co-op will cease operations on January 1, 2016 Nevada’s health insurance co-op will be closing down on January 1 next year. The co-op was established through the Affordable Care Act and serves as a non-profit insurance organization that is meant to provide consumers with more options when it comes to affordable coverage. The problem, however, is that the co-op has struggled to meet its enrollment goals and has failed to generate profits, which has lead to a troubling financial situation that it is not able to recover from.…

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Colorado health insurance co-op takes a new approach on the insurance business

Logan B.
Colorado Health Insurance

Colorado HealthOP puts a new spin on member governance Colorado’s first health insurance co-operative has begun accepting applications for its board of directors. Colorado HealthOP aims to initiative a major shift in how insurance companies operate in Colorado, setting a new standard in regards to customer service and insurance availability. The co-op has member control as its top priority and intends to allow its members a great degree of engagement within the insurance industry that they have not had before. The Colorado HealthOP aims to accomplish this by inviting its…

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Maine to welcome its first health insurance co-op

Marc
Health Care Reform

State receives federal grant to aid in the establishment of new insurance system Maine Community Health Options has received a federal grant that will help it establish the state’s first health insurance co-op system. The organization has been a strong advocate for national consumer operated and oriented plans (co-ops), which are believed to make health insurance both more affordable and comprehensive. The grant provided by the government will assist in the development and introduction of a health insurance co-op in Maine. This new system may serve as an example for…

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