Tenth Co-Op Established Under ACA To Shut Down
On Tuesday, Utah officials announced that a not-for-profit cooperative health plan in the state that was established under the Affordable Care Act will shut down by the end of 2015, making it the 10th co-op to close or announce its closure this year. Officials of the co-op, called Arches Health Plan, cited insufficient risk corridors payments as a reason for its closure. Utah Health Commissioner Todd Kiser in a release said, "We are proactively working with other insurers and the federal government to fill the vacancy left by Arches, particularly in the rural areas of the state."
- "Utah's Arches Health Plan Marks 10th Co-Op Closure" (Herman, Modern Healthcare, 10/27).