Baltimore-based Evergreen Health, one of 23 nonprofit health plans created under the ACA, will be liquidated by the end of September, The Baltimore Sun reports.
Here are five things to know.
1. Baltimore Circuit Judge Yolanda Tanner ruled Evergreen Health is insolvent. Regulators said no viable investors exist.
2. About 24,000 Evergreen Health policyholders will lose coverage at the end of the month.
3. Judge Tanner called for a 30-day special enrollment period beginning Sept. 1 for affected members. Four insurers — Aetna, CareFirst BlueCross BlueShield, Kaiser Permanente and UnitedHealthcare — agreed to sell products during the period for coverage retroactive to Sept. 1.
4. In July, a Baltimore circuit judge ordered Risk & Regulatory Consulting in Farmington, Conn., take over the financially strapped insurer for the Maryland Insurance Administration.
5. 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.