The billboards went up quickly. The customers came in droves.
Then, in October, Arches collapsed as suddenly as it went up.
Now eight months after it was announced that the state’s only nonprofit insurance co-op would be dissolved, Utah hospitals are still waiting on about $33 million in outstanding claims that the Utah Department of Insurance says it likely cannot pay until 2017.
Officials with the insurance department say they are doing the best they can to create a “soft landing” for Arches after the federal government reneged on what was supposed to be a $11 million payment this summer.
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Obamacare’s health insurance exchanges open for business Nov. 1. Millions of Americans will soon have to log on to the digital state or federal marketplace to pick their plans for 2016. They’re in for a rude awakening. Obamacare is set to make insurance a lot more expensive next year. The law will increase its punishment for those who don’t obtain insurance. Many who do buy coverage on Obamacare’s exchanges will face premium hikes as high as 49 percent. Thousands of medium-size employers, meanwhile, will for the first time be subject to penalties if they do not offer coverage to their employees.