Health Insurer To Stop Offering Plans On Kentucky Exchange
A Kentucky nonprofit that has been one of the largest insurance providers on the state's health exchange has given notice that it won't offer plans for the 2016 enrollment period.
State health officials said Friday that current policyholders with the Kentucky Health Cooperative will continue being covered through their existing policies, most of which expire Dec. 31, 2015. The company currently serves about 51,000 members.
Kentucky Health Cooperative's interim CEO, Glenn Jennings, says the nonprofit "came up short" of where it needed to be. It had received federal loans to help it stay afloat. Jennings says the decision to stop offering plans resulted from the company not receiving federal funding on which it had relied.
State officials say seven companies will offer plans in the 2016 enrollment period, up from five in 2015.