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Monday, December 28, 2015
After Dec. 26, Maine-based Community Health Options, a Consumer Operated and Oriented Plan (CO-OP),
... will stop selling individual insurance policies for
the 2016 plan year. The CO-OP also sells coverage in New Hampshire. This
decision is "a consequence of significant enrollment growth" over the
last two years and higher-than-expected claims costs in 2015, the company
explained on its website Dec. 10. The company asserted that its finances are
secure and that it is not ending operations. The CO-OP, which has more than 80%
of Maine's exchange enrollment, lost more than $17 million in the first nine
months of 2015, after making $10.9 million in the same period last year,
according to the Maine Bureau of Insurance. Since the beginning of the year, 12
out of 23 CO-OPs have said they would end operations on Jan. 1 ..
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