Judge Puts New Jersey ACA Insurer Into Rehabilitation
Mealey's (October 26, 2016, 2:16 PM EDT) -- TRENTON, N.J. — A New Jersey judge on Oct. 19 ordered a Patient Protection and Affordable Care Act (ACA) Consumer Operated and Oriented Plan into rehabilitation and deemed the insurer 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.).
(Rehabilitation order available. Document #10-161028-028R.)
New Jersey’s commissioner of banking and insurance, Richard J. Badolato, petitioned...