An insurance cooperative created to provide health care in Iowa and Nebraska will be formally liquidated this weekend.
Iowa Insurance Commissioner Nick Gerhart said that a Polk County judge has agreed to approve the liquidation plan.
CoOportunity is a federally funded nonprofit established to provide health care in Iowa and Nebraska. Gerhart took the cooperative over after he determined the nonprofit’s claims would exceed its available cash.
About 24,000 people still have CoOportunity plans in Iowa and Nebraska, with about 5,500 who bought coverage on the insurance exchange created as part of the Affordable Care Act.
Gerhart said that people who received plans through the exchange must enroll in new coverage to maintain any federal tax subsidies.
Was this article valuable?
Here are more articles you may enjoy.
Insurify Starts App With ChatGPT to Allow Consumers to Shop for Insurance 
Zurich Insurance’s Beazley Bid Sets the Stage for More Insurance Deals 
Nine-Month 2025 Results Show P/C Underwriting Gain Skyrocketed 
Pipeline Explodes at Delfin LNG Planned Project in Louisiana 
