Press Release - October 30, 2015: NYDFS, NYSOH, CMS Announce Additional Actions Regarding Health Republic Insurance of New York for the press release.
Moral is, they announced they were "winding down" a few weeks ago: no new enrollments, no renewals.
No guidance on groups, besides "will continue at least through 12/31". Said they'd let us know soon.
Today they announce that they're actually terming all business 11/30.
Golden nugget was "NYDFS and CMS led review of HRINY finances has found the company's financial condition is substantially worse than the company previously reported in it's filings to NYDFS." Take those other CO-OP filings with a grain of salt!
Gives us about 15 days to move everyone... I won't even get started on the logistical nightmare this creates, I'm sure you all know already.
I think Allen is right, the government doesn't give a $hit about how many people get hurt by the CO-OP debacle.
They haven't paid Sept or Oct commissions, and doctors have been refusing to accept clients for weeks because they're not paying claims either, in case we need some icing on the cake.
Moral is, they announced they were "winding down" a few weeks ago: no new enrollments, no renewals.
No guidance on groups, besides "will continue at least through 12/31". Said they'd let us know soon.
Today they announce that they're actually terming all business 11/30.
Golden nugget was "NYDFS and CMS led review of HRINY finances has found the company's financial condition is substantially worse than the company previously reported in it's filings to NYDFS." Take those other CO-OP filings with a grain of salt!
Gives us about 15 days to move everyone... I won't even get started on the logistical nightmare this creates, I'm sure you all know already.
I think Allen is right, the government doesn't give a $hit about how many people get hurt by the CO-OP debacle.
They haven't paid Sept or Oct commissions, and doctors have been refusing to accept clients for weeks because they're not paying claims either, in case we need some icing on the cake.
