The Bureau of Insurance hoped to stem Community Health Options’ losses, partly by ending as many as 17,000 policies, but CMS rejected the temporary plan.
Eric Cioppa, the state’s insurance regulator, wrote in the letter to CMS, his bureau “would have acted to reduce membership, increase capital and thereby better protect the remaining (co-op) members and their health care providers from the risk presented by the type of losses experienced in 2015. Because CMS’s decision has precluded my ability to act as proposed, CMS now must share responsibility for the risk of an outcome we all very much hope to avoid.”
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