Connecticut Co-Op Closes After Learning It Owes $13.4M Under ACA Program

(July 8, 2016, 2:17 PM EDT) -- BRIDGEPORT, Conn. — The State of Connecticut on July 5 placed HealthyCT under order of supervision just days after the state’s consumer oriented and operated plan (Co-Op) was notified that it owed the federal government $13.4 million under the Patient Protection and Affordable Care Act (ACA) risk adjustment program.

Connecticut Department of Insurance Commissioner Katherine L. Wade said the move allows for the “orderly run-off of the company’s claim payment under close regulatory oversight.” Under supervision, HealthyCT may not write new policies or renew existing ones...
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