Peter Beilenson, MD, CEO of Baltimore-based insurer Evergreen Health, resigned Aug. 1, according to Baltimore Business Journal.
Here are three things to know.
1. Dr. Beilenson founded Evergreen Health in 2012 as a nonprofit insurer under the ACA.
2. Last week a Baltimore circuit judge ordered Risk & Regulatory Consulting in Farmington, Conn., take over the financially strapped insurer for the Maryland Insurance Administration. This followed a decision by three investors — Annapolis, Md.-based Anne Arundel Health System, Baltimore-based LifeBridge Health and JARS Health Investments — to abandon plans to acquire the payer.
3. Evergreen Health's 65 employees will remain at the payer as it moves into receivership, the Maryland Insurance Administration told Baltimore Business Journal. While Evergreen Health let go roughly 13 employees earlier this year amid acquisition negotiations, the insurer didn't announce any layoffs since the deal fell through.