Evergreen Barred From Maryland Exchanges As It Tries To Convert To For-Profit Model
Evergreen, which started as one of the health co-op insurers funded by the federal health law, ran into financial problems. Insurance regulators had hoped that it would work through the regulatory process for its conversion in time for the beginning of 2017 coverage, but it didn't manage to do so.
The Associated Press:
Evergreen Won’t Renew Individual Health Benefit Policies
Evergreen Health Cooperative Inc. won’t be issuing or renewing individual health benefit policies on the Maryland Health Connection for the 2017 plan year, Maryland regulators announced Thursday. Evergreen, a start-up health maintenance organization that began as a nonprofit, is working to become a for-profit company. (Witte, 12/8)
The Baltimore Sun:
Evergreen Removed From Individual Health Insurance Market Pending Approval Of Its Bid To Go For-Profit
The Maryland Insurance Administration barred Evergreen Health from selling health insurance policies for individuals until federal and state regulators decide whether to allow the cooperative to convert to a for-profit insurer and receive a much-needed cash infusion. Roughly 6,000 people who bought an Evergreen plan through the state's health insurance exchange last year now have only weeks to choose a new plan or automatically be assigned to another insurer's policy in order to have coverage starting Jan. 1. Another 3,000 people who bought individual plans directly from Evergreen will be on their own to pick a new insurer. (Gantz, 12/8)