The 19th Judicial District Court granted an Order of Rehabilitation and Injunctive Relief, giving the Louisiana Insurance Commission control of the Louisiana Health Cooperative, according to Insurance Journal.
Here are five things to know:
1. The Louisiana CO-OP is a health maintenance organization that was formed under an Affordable Care Act provision as a non-profit health insurance company.
2. The Louisiana Department of Insurance is confidents the CO-OP can efficiently and successful pay claims to healthcare providers in a timely manner.
3. The Order and Rehabilitation aims to ensure uninterrupted healthcare for policyholders and the timely payment of claims to healthcare providers.
4. The department states policyholder should continue to pay premiums the same way.
5. Individual market insurance policies end of Dec. 31 of this year and CO-OP policyholders will need to enroll in new coverage that will go into effect on January 1, 2016.
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