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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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