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Dr. Ronald P. Rogers CHIROPRACTOR Support for your body's natural healing capabilities 270-384-5554 Click here for details 
  
Columbia Gas Dept. GAS LEAK or GAS SMELL Contact Numbers 24 hrs/ 365 days 270-384-2006 or 9-1-1 Call before you dig 
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Kentucky Health Cooperative Placed in Liquidation The non-profit health insurance company had enrolled the vast majority of individuals who had been members of Kentucky Access, the state's former high-risk pool, as well as a higher proportion of consumers who had chronic, high-cost conditions. In early October, KYHC was informed that it would receive just under $10 million of an anticipated $77 million in "risk corridor payments" from The Centers for Medicare and Medicaid Services. This put the cooperative into hazardous financial status under Kentucky law, triggering mandatory action by the Department of Insurance. By Ronda Sloan Commonwealth of Kentucky Public Protection Cabinet Frankfort, KY - Citing the need to preserve remaining assets, the Kentucky Health Cooperative (KYHC) was placed in liquidation today at the request of the Kentucky Department of Insurance (DOI). The order was signed this afternoon by Franklin Circuit Judge Phillip J. Shepherd. KYHC was placed in rehabilitation on Oct. 29, and DOI began oversight of the day-to-day operations of the nonprofit health insurance company at that time. "This is a regrettable situation, however, once we determined the degree of financial hazard, the decision to move to liquidation was an easy one," said Kentucky Insurance Commissioner Brian Maynard. "To continue an attempt to rehabilitate the fund would increase the risk of loss, jeopardizing both creditors and policyholders." Under the supervision of Franklin Circuit Court, the special deputy liquidators will begin terminating any remaining business of KYHC and will distribute the remaining assets in the order outlined in Kentucky statute. Providers, agents and others with claims against KYHC will be notified. The deadline for filing claims will be Oct. 15, 2016. All individual health insurance policies and most group plans terminated on Jan. 1, 2016. Any remaining KYHC policies will terminate no later than Jan. 31, 2016. Documents will be available on the DOI (insurance.ky.gov) and KYHC (mykyhc.org) websites. This story was posted on 2016-01-15 16:08:01
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Have comments or corrections for this story? Use our contact form and let us know. More articles from topic Kentucky:
Gov. Bevin announces action for racial balance on UL Board Bevin in Michigan today at NAIAS to promote KY auto industry Attorney General Andy Beshear Warns of sweepstakes scam Burchett new director of Value-Added Plant Production division Former Manager of IBEW credit union manager sentenced Special elections to take place March 8, 2016 Quarles sworn in as Kentucky's Commissioner of Agriculture Gov. Bevin names Brett Gaspard to head Boards & Commissions Governor announces plan to develop new Medicaid program Employment up in 6 local counties in November 2015 View even more articles in topic Kentucky |
 
115 Jamestown St. Columbia, KY. 270-384-2496 
  
   
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