(Daily Signal) Obamacare’s 13th co-op announced it’s closing ahead of the 2017 open enrollment period, and more of the nonprofit insurers could follow suit in the coming months.
Ohio’s InHealth Mutual announced late last week it would be closing its doors after the state’s Department of Insurance requested to liquidate the insurer.
As insurers prepare to submit proposed rate changes to the government ahead of the next open enrollment period, it’s likely Ohio’s co-op won’t be the last to close its doors.
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“I think there are a couple of reasons why the picture will be clearer later in the summer,” Ed Haislmaier, a Heritage Foundation senior research fellow in health policy, told The Daily Signal. “First, insurers are making decisions to participate in the exchange and submitting rates. The other is the risk adjustment formula will kick in for the last plan year, 2015, this summer.”