The Nov. 30 shutdown of Health Republic Insurance of New York, a nonprofit cooperative established in connection with the Affordable Care Act, left policyholders scrambling to find new coverage and health care providers short millions of dollars. And it spurred an investigation into its practices and calls for legislation to protect providers and consumers.
On Monday, State Assemblyman Fred W. Thiele Jr. announced that he had co-sponsored a bill that would do exactly that by enabling policyholders of a bankrupt insurer to continue receiving care from their own doctors and hospitals and creating a fund to reimburse providers for uncompensated care in the event of a health insurance companys insolvency or failure.
Because of the low rat…
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