Troubled Iowa insurer CoOportunity Health may be liquidated [View all]
Source: Omaha World Herald
By Steve Jordon
CoOportunity Health, the Iowa health insurance cooperative set up with federal assistance, is short of capital and may be liquidated, Iowa’s insurance commissioner said Wednesday.
The company’s 120,000 customers, most of them in Nebraska and the rest in Iowa, are still covered on their existing policies and should continue making premium payments to CoOportunity but should start looking for other coverage, said Nick Gerhart, head of the Iowa Division of Insurance.
The company is not insolvent and claims will continue to be paid, he said.
"Nothing has really changed on their plans today," Gerhart said. "They have coverage. ... The company is not liquidated as of today. If they can’t present a viable plan to continue, it would be faced with liquidation at a later date."
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Read more: http://www.omaha.com/money/troubled-iowa-insurer-cooportunity-health-may-be-liquidated/article_825f0962-8b7d-11e4-b6d3-ef7555754633.html
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