Health News
- 8 Of 23 Health Insurance Cooperatives Closing, More Likely To Follow; They Blame Republicans; Republicans Blame Obamacare
By Melissa Patrick Kentucky Health News One-third of the 23 health insurance cooperatives created under the Patient Protection and Affordable Care Act are closing, with others likely to follow. Republicans say this is yet another failure of "Obamacare,"...
- Most Insured Through Kynect Will Pay More In 2016; Kentucky Health Cooperative Seeks 25 Percent Increase
By Molly Burchett Kentucky Health News The federal health law requires that insurers planning to significantly increase premiums for policies on a health-insurance exchange to submit their rates by June 1 for review. Many insurance carriers across the...
- Humana Allows Policyholders To Keep Old Plans Without Paying More; Anthem Is Still Deciding
Humana, one of the three insurance companies offering individual health policies on the state's insurance exchange, will allow Kentuckians to keep their insurance coverage for another year without charging them more for it. The other two companies...
- 280,000 Kentuckians, Almost All Those With Individual And Small-group Insurance Policies, Will Have To Change Under Obamacare
By Molly Burchett Kentucky Health News About 280,000 Kentuckians will have to give up their current insurance policies, which are being discontinued because they don't comply with the Patient Protection and Affordable Care Act, according to the...
- Newly Formed Kentucky Health Cooperative Gets Ok To Offer Plans In State's Health Insurance Exchange
The new Kentucky Health Cooperative's health-insurance plans have received approval from the state Department of Insurance and will be available on Kentucky's insurance exchange market when it opens in October. ?This is a red-letter day for Kentuckians,?...
Health News
State to wind up operations of federally funded Kentucky Health Cooperative, says it will not assume liability for losses
By Melissa Patrick
Kentucky Health News
The Kentucky Department of Insurance is taking control of the day-to-day operations of the failed Kentucky Health Cooperative, but will not assume any of its liabilities, according to a state news release.
Franklin Circuit Judge Phillip Shepherd signed the order Thursday to place the co-op into rehabilitation, and makes Insurance Commissioner Sharon P. Clark the rehabilitator. The order also appointed Jeff Gaither and David Hurt, both on contract with the department, as special deputy rehabilitators, department spokeswoman Ronda Sloan said in an e-mail. Glen Jennings has said that he will continue to serve as the acting Kentucky Health Cooperative CEO through Nov. 8, when his contract expires, according to Sloan.
Clark said in the release, ?Today?s action placing KYHC into formal rehabilitation was necessary to ensure DOI is in a position to protect consumers and providers. Our central concerns are making certain policyholders receive the services to which they are entitled, and that the providers offering those services honor existing contracts and receive payment.?
The co-op announced in early October that it would be closing, but would meet its obligations to its members through Dec. 31. Co-op members must apply for coverage with a different insurance company by Dec. 15 to have coverage on Jan. 1. Open enrollment runs between Nov. 1 and Jan. 31.
Cooperative policyholders and providers with complaints or other issues related to the rehabilitation action should call the Insurance Department at 800-595-6053.
Kentucky Health News
The Kentucky Department of Insurance is taking control of the day-to-day operations of the failed Kentucky Health Cooperative, but will not assume any of its liabilities, according to a state news release.
Franklin Circuit Judge Phillip Shepherd signed the order Thursday to place the co-op into rehabilitation, and makes Insurance Commissioner Sharon P. Clark the rehabilitator. The order also appointed Jeff Gaither and David Hurt, both on contract with the department, as special deputy rehabilitators, department spokeswoman Ronda Sloan said in an e-mail. Glen Jennings has said that he will continue to serve as the acting Kentucky Health Cooperative CEO through Nov. 8, when his contract expires, according to Sloan.
The co-op announced in early October that it would be closing, but would meet its obligations to its members through Dec. 31. Co-op members must apply for coverage with a different insurance company by Dec. 15 to have coverage on Jan. 1. Open enrollment runs between Nov. 1 and Jan. 31.
Two insurers, Anthem and UnitedHealthcare, will offer plans in all 120 Kentucky counties. Some counties will have up to seven choices, with expanded provider networks offering 86 different plans.
Kentucky Health Cooperative lost $50.4 million last year, but had only lost $4 million by the end of June, and said it fully expected to overcome its losses, through payments the federal government makes to companies for insuring sicker populations. But last year's federal budget deal limited those "risk corridor" payments and destroyed that hope. The co-op was hoping to get $77 million in risk-corridor money and got $ 9.7 million.
- 8 Of 23 Health Insurance Cooperatives Closing, More Likely To Follow; They Blame Republicans; Republicans Blame Obamacare
By Melissa Patrick Kentucky Health News One-third of the 23 health insurance cooperatives created under the Patient Protection and Affordable Care Act are closing, with others likely to follow. Republicans say this is yet another failure of "Obamacare,"...
- Most Insured Through Kynect Will Pay More In 2016; Kentucky Health Cooperative Seeks 25 Percent Increase
By Molly Burchett Kentucky Health News The federal health law requires that insurers planning to significantly increase premiums for policies on a health-insurance exchange to submit their rates by June 1 for review. Many insurance carriers across the...
- Humana Allows Policyholders To Keep Old Plans Without Paying More; Anthem Is Still Deciding
Humana, one of the three insurance companies offering individual health policies on the state's insurance exchange, will allow Kentuckians to keep their insurance coverage for another year without charging them more for it. The other two companies...
- 280,000 Kentuckians, Almost All Those With Individual And Small-group Insurance Policies, Will Have To Change Under Obamacare
By Molly Burchett Kentucky Health News About 280,000 Kentuckians will have to give up their current insurance policies, which are being discontinued because they don't comply with the Patient Protection and Affordable Care Act, according to the...
- Newly Formed Kentucky Health Cooperative Gets Ok To Offer Plans In State's Health Insurance Exchange
The new Kentucky Health Cooperative's health-insurance plans have received approval from the state Department of Insurance and will be available on Kentucky's insurance exchange market when it opens in October. ?This is a red-letter day for Kentuckians,?...