New York State Orders Health Republic Co-op to Wind Down Business

[PoliticAverse]

ALBANY — New York State authorities have ordered Health Republic, a nonprofit insurance cooperative, to stop writing new policies and wind down business after existing policies expire, citing the likelihood that the cooperative would become financially insolvent.

The Department of Financial Services said on Friday that current individual coverage should continue through Dec. 31 for 108,000 people, most of whom signed up through New York’s health exchange.

The agency and the State Health Department said existing small group plans also remained in effect, covering an additional 101,500 people. Most of those policies were bought outside the exchange established under the federal Affordable Care Act.

The agencies said they would evaluate how to proceed with those policies based on Health Republic’s continuing financial results.

Read the rest at: http://www.nytimes.com/2015/09/26/nyregion/new-york-state-orders-health-republic-co-op-to-end-new-business.html?_r=0

[Habibi]

1. Just got an email from HR to this effect.

I was not thrilled with them. Honestly, I miss Healthy New York. No, it didn't offer the coverage that the ACA demands, but it was decent, and affordable, for us lower-income New Yorkers.