Here are five quick facts:
1. Arches Health Plan will move to receivership; the Insurance Commissioner will help with closing out policies.
2. Those with policies will be insured until Dec. 31, 2015.
3. The insurance company will not sell new policies before its closure.
4. Approximately 45,000 Utahans hold Arches Health Plan policies. Many of the policyholders live in Grand County.
5. The closure is due to the failure of the risk corridor program, which was supposed to protect insurance companies from losses with fund reallocation between insurance companies. The federal government did not pay the full funds requested.
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