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State Says Moda Doesn't Have Enough Money To Continue Operating


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Oregon says Moda, one of the state’s biggest individual health insurers, doesn’t have enough money to continue operating.

The state is requiring Moda to raise more money and transfer its individual market plans to another carrier.

The state order said continuing business is quote, “hazardous to the public.”

In an email, Moda’s CEO Robert Gootee said, “Bringing tens of thousands of people into the ACA marketplace, many of them with acute health care needs, has been a difficult process to manage.”

Jesse O’Brien with the consumer group OSPIRG said Moda customers should still be able to get care and the state should ensure their claims are paid.

“So you will have options and you don’t have to worry about losing access to healthcare services. But I also certainly understand that this new may be alarming to Moda’s current members,” O’Brien.

The health care marketplace’s enrollment window remains open. Moda customers can switch their plans at Healthcare.gov until Jan. 31.

 

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