First Circuit Judge Karen Nakasone signed the order April 7, which outlines why Family Health Hawaii must be liquidated. The insurer could not meet important finance deadlines to keep its operations afloat and has lost around $6.5 million, according to KITV.com.
“We’re very sorry that we were not able to overcome the [Affordable Care Act] requirements and continue, but we are going to help [our enrollees] find coverage so that the transition is as easy as possible,” said Family Health Hawaii CEO J.P. Schmidt, according to the report.
Family Health Hawaii was created three years ago and insured approximately 7,000 members.
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