DENVER (AP) — Colorado’s biggest nonprofit health insurer spawned by the Affordable Care Act faces an uncertain future — and its 80,000 or so customers don’t know whether their insurer will even be allowed to offer 2016 policies when open enrollment starts in about three weeks.
Colorado HealthOP faces possible insolvency because of a recent announcement that the federal government won’t be able to cover payments to help stabilize premiums in the health care law’s insurance markets.
The announcement has jolted insurance cooperatives like Colorado HealthOP.
The insurer offered some of Colorado’s cheapest health insurance plans but also relied on the federal funds for its first few years. So far the cooperative has borrowed $72.3 million and says it needs more until it can operate without government assistance.
