AABP EP Awards 728x90

Guaranty funds to pay more than $80 million in CoOportunity claims

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Iowa Insurance Commissioner Nick Gerhart announced that beginning tomorrow, March 7, the Iowa and Nebraska Life and Health Insurance Guaranty Associations will begin paying health care providers more than $80 million in outstanding eligible claims for health care services provided to CoOportunity Health members in Iowa and Nebraska. All providers under contract with CoOportunity that offered health care services will be paid up to $500,000 per individual for claims submitted to CoOportunity, Gerhart said in a press release. The Iowa Insurance Division is projecting that money recouped from the federal reinsurance, risk corridor and risk adjustment programs – often referred to as the “3 R’s” – on behalf of CoOportunity Health will be used to help pay back the state guaranty associations and other outstanding creditors. The division said it continues to work to transition people in Iowa and Nebraska out of the failed health insurance cooperative. Nebraska has 11,135 remaining CoOportunity Health members, while Iowa had 2,619 remaining members as of March 5.