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Oregon's Health CO-OP also recently went under. Basically they lost $18.4m in 2015, and were expecting to receive $5m from the federal risk adjustment program a

Oregon's Health CO-OP also recently went under. Basically they lost $18.4m in 2015, and were expecting to receive $5m from the federal risk adjustment program and instead owed $900k[1]. I received less than a week's notice that my insurance plan was ending despite them knowing for almost 2 weeks before notifying me. 1: http://dfr.oregon.gov/public-resources/Pages/co-op-faqs.aspx http://dfr.oregon.gov/public-resources/Pages/co-op-faqs.aspx

bduerst 10y ago
Did you buy through ACA or get it through your employer? At least they're letting the ACA insureds transfer their out-of-pocket amounts to another provider.
- rob-olmos 10y ago
  I bought it directly from Oregon's Health CO-OP because I figured it would be safer than going through any marketplace after the whole Oregon $300m fiasco. I don't qualify for any assistance. Yea thankfully they are transferring those! Took them almost 3 weeks to do so for me; I'm glad I didn't have any major costs during that period.
fencepost 10y ago
The one in Illinois (Land of Lincoln Health) is in a similar situation, but the wind-down is being handled much better. I actually have coverage through the end of September and the state (which stepped in to shut it down) promises providers that they'll be paid. Part of the trigger for the shutdown was that on top of previous-year losses, LLH was being required to send something like $30m to the risk pool, money they just didn't have. The remains of LLH are also suing the Federal government for around $70m, because part of the original setup was that the government would cover (some portion of?) losses for the first few years through the risk pools regardless of the amount going into those pools; that was subsequently changed to "we'll divvy up the amount in the pools to companies according to their losses but we won't supplement as originally expected."
therealx 10y ago
Nevada's CO-OP also had this issue and ended service on 1/1/2016. We had a few months notice.

bduerst 10y ago

Did you buy through ACA or get it through your employer? At least they're letting the ACA insureds transfer their out-of-pocket amounts to another provider.

rob-olmos 10y ago
I bought it directly from Oregon's Health CO-OP because I figured it would be safer than going through any marketplace after the whole Oregon $300m fiasco. I don't qualify for any assistance. Yea thankfully they are transferring those! Took them almost 3 weeks to do so for me; I'm glad I didn't have any major costs during that period.

fencepost 10y ago

The one in Illinois (Land of Lincoln Health) is in a similar situation, but the wind-down is being handled much better. I actually have coverage through the end of September and the state (which stepped in to shut it down) promises providers that they'll be paid. Part of the trigger for the shutdown was that on top of previous-year losses, LLH was being required to send something like $30m to the risk pool, money they just didn't have. The remains of LLH are also suing the Federal government for around $70m, because part of the original setup was that the government would cover (some portion of?) losses for the first few years through the risk pools regardless of the amount going into those pools; that was subsequently changed to "we'll divvy up the amount in the pools to companies according to their losses but we won't supplement as originally expected."

therealx 10y ago

Nevada's CO-OP also had this issue and ended service on 1/1/2016. We had a few months notice.