“With a second year of high claims costs and limited opportunities for new investment, it has become clear that the amount of growth required to provide quality care at reasonable rates will be unlikely in the next plan year,” NHC CEO Pam Egan said in the news release. “NHC is working responsibly and pro-actively with the Nevada Division of Insurance and the Centers for Medicare and Medicaid Services to ensure that we meet all deadlines and fulfill obligations to our current members.”
When open enrollment begins in November, members will be able to choose coverage with other carriers. The CO-OP said it will work with employer groups who wish to change coverage before the end of the year.
More articles on payer issues:
Mergers among insurers ignite concerns over private Medicare: 4 things to know
UAW’s risky new healthcare deal: 5 things to know
Study: Large insurers showed greatest increase in premiums in 2015
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.
