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IOWA INSURANCE COMMISSIONER PLACES COOPORTUNITY HEALTH IN REHABILITATION
NEBRASKA INSURANCE DEPARTMENT SUSPENDS HEALTH INSURER'S CERTIFICATE OF AUTHORITY TO DO BUSINESS EFFECTIVE DECEMBER 24, 2014
The Nebraska Department of Insurance has suspended CoOportunity Health's certificate of authority in Nebraska effective today, December 24, 2014. Since CoOportunity is an Iowa company, the Iowa Insurance Commissioner sought and received an order from an Iowa court placing the company in rehabilitation yesterday, December 23.
Agents and consumers are encouraged to visit the Nebraska DOI web site for more information and advice - click here and follow the links, including an FAQ document.
Insurance regulators in both Iowa and Nebraska advised CoOportunity's customers to be prepared to look for other options by February 15, 2015 - the open enrollment deadline of the Affordable Care Act.
If CoOportunity Health cannot be rehabilitated and an order of liquidation is entered, insurance coverage could be limited, the Nebraska Department said on its website. Nebraska statutes create a safety net to protect policyholders when insurers go out of business, with a $500,000 limit per person.
Read breaking news from the Lincoln Journal Star
IIAN will share more information as it becomes available. The IIAN office is closed for the Christmas holiday Wednesday afternoon, December 24 and all day December 25, open Friday December 26 8:30-5:00 p.m.
Call Carol McClelland, CAE, IIAN CEO with questions -
1-800-377-3985, 402-476-2951
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