Monday, March 28, 2016

A report released on March 17 by the Government Accountability Office (GAO) ...

... said more than 600,000 public exchange members have had their policies discontinued due to the closure of Consumer Operated and Oriented Plans (CO-OPs). Last June, about 1 million individuals were enrolled in coverage sold by CO-OPs, but that number has since tumbled to less than 400,000 because of the many CO-OP failures, according to the report. There are now just 11 CO-OPs operating, down from the original 23. And Maine's Bureau of Insurance told CMS in a letter on March 14 that its CO-OP, the Maine Community Health Options carrier, is nearly insolvent. On March 21, CMS rejected a plan to stabilize the CO-OP, which is Maine's largest writer of individual policies. The GAO report is titled "Federal Oversight Premiums and Enrollment for Consumer Operated and Oriented Plans in 2015" ....

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