Under the deal that was announced in mid-October, Simply Healthcare would have paid $2.5 million in cash and covered up to $3 million in losses for the plan, which has lost $14.3 million this year, according to the report.
The deal unraveled over regulatory approval, which demanded a “longer transition period than was possible,” according to the report.
Jackson’s CEO Carlos Migoya said in the report another unidentified company has signed a non-binding letter of intent for the plan. Approximately 12,000 people are covered by Jackson’s Medicaid plan.
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