"Regulators to Shut Down Health Republic Insurance of New York
Regulators will shut down Health Republic Insurance of New York, the largest of the nonprofit
cooperatives created under the Affordable Care Act, in the latest sign of the financial pressures
facing many insurers that participated in the law's new marketplaces.
The insurer lost about $52.7 million in the first six months of this year, on top of a $77.5
million loss in 2014, according to regulatory filings. The move to wind down its operations was
made jointly by officials from the federal Centers for Medicare & Medicaid Services; New York's
state insurance exchange, known as New York State of Health; and the New York State Department
of Financial Services."
Read more: http://legalinsurrection.com/2015/09/largest-obamacare-healthcare-co-op-to-close/
Regulators will shut down Health Republic Insurance of New York, the largest of the nonprofit
cooperatives created under the Affordable Care Act, in the latest sign of the financial pressures
facing many insurers that participated in the law's new marketplaces.
The insurer lost about $52.7 million in the first six months of this year, on top of a $77.5
million loss in 2014, according to regulatory filings. The move to wind down its operations was
made jointly by officials from the federal Centers for Medicare & Medicaid Services; New York's
state insurance exchange, known as New York State of Health; and the New York State Department
of Financial Services."
Read more: http://legalinsurrection.com/2015/09/largest-obamacare-healthcare-co-op-to-close/