Insurer's Demise Forces Ohioans To Find New Coverage
COLUMBUS, Ohio (AP) - Thousands of Ohioans have sought new health insurance this summer as their financially troubled carrier winds down operations, an inconvenience that could come with a higher price tag.
Ohio regulators took over the suburban Columbus-based Coordinated Health Mutual Inc. in late May. A financial review showed the company's losses would prevent it from paying future claims.
The insurance co-op provided policies to nearly 22,000 Ohioans, who may now end up paying more for coverage. Such co-ops were created under President Barack Obama's health care law.
Officials say most InHealth customers have switched plans. But they likely will have to satisfy new deductibles, even if they met their previous ones.
Customers still covered by InHealth may be eligible to switch insurers through the federal marketplace. They face an Aug. 29 deadline to do so.