Arizona: Health Insurance Co-Op Removed From the Marketplace
The Department of Insurance announced that co-op Meritus has been placed into "supervision" and will not be allowed to issue new or renew existing policies for coverage year 2016. Approximately 59,000 Arizonans—28% of the State’s Marketplace—who are covered by Meritus products will be able to access their benefits through December 31, though they will be required to find new coverage for 2016. Meritus is one of 11 co-ops to announce its closure.
New York: Insurance Co-Op Accelerating Shutdown, Will Close November 30
The New York State Department of Financial Services (NYDFS) has ordered co-op Health Republic Insurance of New York (HRINY) to close all of its existing policies by November 30, a month earlier than originally instructed. Individuals with HRINY will be required to select a new plan by November 15 in order to maintain coverage for December 2015. In addition to the original requirement that HRINY end all individual plans, NYDFS has now directed HRINY to end all small group health plans as well. HRINY is one of 11 co-ops across the country that are closing or facing regulatory action due to fiscal issues.
Utah: Co-Op Withdraws From Marketplace, One Insurer Remains
The Department of Insurance announced that Arches Health Plan, the State's health co-op, will no longer offer coverage through Utah’s Federally-facilitated Marketplace for coverage year 2016 due to financial difficulties. Arches issued approximately 35% of the State’s total individual Marketplace policies in 2015, representing around 45,000 Utahns. These individuals will remain covered through December 31, but will need to select new coverage either off the Marketplace or from SelectHealth, the one remaining insurer offering Marketplace plans for 2016.
Washington: Moda Health to Exit Marketplace, Twelve Insurers Remain
The Washington Health Benefit Exchange announced that Moda Health will no longer offer health plans on the Exchange after 2015, leaving 47,000, or 29% of all Exchange enrollees, to seek new coverage for 2016. According to Moda Health, its decision results from the lower-than-expected risk corridors reimbursement from the federal government. Washington consumers will be able to choose from twelve remaining insurers selling 143 health plans on the Exchange.