Commissioner Says New Jersey ACA Co-Op Needs To Be Placed Into Rehabilitation
(September 21, 2016, 1:46 PM EDT) -- TRENTON, N.J. — New Jersey’s insurance commissioner on Sept. 12 asked a state court to declare a Patient Protection and Affordable Care Act (ACA) Consumer Operated and Oriented Plan provider insolvent (Richard J. Badolato, Commissioner of the Department of Banking and Insurance of New Jersey v. Freelancers Consumer Operated and Oriented Program of New Jersey d/b/a Health Republic Insurance of New Jersey, No. MCR-C-000063-16, N.J. Super., Mercer Co., Chancery Div.).
(Petition available. Document #10-160923-023X.)
Richard J. Badolato, New Jersey’s commissioner of banking and insurance, petitioned the...