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Massachusetts Insurance Department takes control of ACA co-op: 5 takeaways

The Massachusetts Insurance Department now controls Minuteman Health, a co-op based in Massachusetts, according to New Hampshire Union Leader.

Here are five takeaways:

1. In June, Minuteman announced it would cease offering insurance in 2018 due to less capital and surplus.

2. The co-op insures 27,000 individual members and three dozen small group members in New Hampshire.

3. Bay State Insurance Commissioner Gary D. Anderson is the "receiver" for Minuteman, which means he controls the company.

4. According to state regulators, Minuteman will be able to meet its members' and healthcare providers' obligations through the end of 2017.

5. A Minuteman spokesperson said the receivership is part of an initiative to restructure the company into a corporate insurance company.

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