Ben Philipson

  • Home
  • Nurses
    • Acknowledging the Tireless Work of Physicians on National Doctor’s Day
    • Nursing Organizations Push for Legislation to Reauthorize Workforce Programs
    • Nurse Practitioners Provide Quality Care to Diabetes Patients
    • Growing Role of Nurses and Progress on Future of Nursing Recommendations
    • Nurse Practitioners Update
    • NPs Joining Primary Care Increases
    • Increasing Trend In Graduating Nurses
    • Nurses Improving Outcomes
    • Nursing Home Rating to Be Overhauled
    • Pharma Payments to Nurse Practitioners Absent from Open Payments Database
  • Drugs
    • How is Drug Abuse Affecting Our Future Generation
    • Prozac- Its Uses and Side Effects
  • Diseases
    • Cancer
      • American Cancer Society Reveals New Breast Cancer Screening Recommendations
      • Personalized Breast Cancer Screening
    • Financial Burden of Dementia
    • COPD Awareness
  • Health Articles
    • Use Of Antipsychotic Medications Increasing Among Seniors
    • Veterans Health Care
    • EHR and ICD-10 Explained
      • ICD-9 to ICD-10 Translator
    • ACA Opens Thrid Open Enrollment Period
    • National Centenarian Day – Living to 100
    • Dietary Supplements Send 23,000 People To EDs Each Year
    • The Eden Prescription
  • News
    • De Blasio Releases Details of Turnaround Plan For NYC Health & Hospitals
    • Implantable Device Can Be Remotely Controlled to Deliver Drugs
    • Study: Women Who Use Contraceptive Implant 10 Times More Likely To Need Additional Surgery
    • Legionnaires’ Outbreak in South Bronx Claims 8 Lives
    • Zika Virus Precautions in Long Island
    • Stelara Trial for Crohn’s Disease
    • Teen Births In US Are Declining
    • New York Company To Offer World’s First Kosher Medical Marijuana
    • De Blasio Unveils $850 Million Mental Health Roadmap
    • Planet Fitness To Stop Offering “Unlimited” Indoor Tanning As Part Of Settlement With New York AG
    • Recognizing the Progress Made on World AIDS Day
    • Sodium Warnings Will Appear On Menus In New York City
    • Health Republic Closing Today (November 30, 2015)
    • Health Republic Insurance of New York Co-Op to Close
    • Family Medicine Residency Program At New York – Presbyterian To Remain Open
    • HHS Projects 10 Million People Will Have ACA Coverage By End Of 2016
    • NYPD Study Shows Increased Cancer Rates In 9/11 Ground Zero First Responder Police
    • Health Effects of Hurricane Katrina – Five Years Later
    • Family Medicine Residency Program At New York – Presbyterian To Remain Open
  • Contact Us
  • Resource
  • Location

Health Republic Insurance of New York Co-Op to Close

Thousands of people will be without health insurance due to the liquidation of Health Republic, the largest of the nonprofit cooperatives created under the Obamacare’s Affordable Care Act, in the latest sign of the financial pressures facing many insurers that participated in the law’s new marketplaces. New York State regulators ordered the health-insurance co-op to close as it was in danger of becoming insolvent.

More than 200,000 people insured through Health Republic Insurance of New York have been affected.

This is part of a wave of failures of the new co-ops nationwide. In a statement, the Department of Financial Services said the Health Republic Insurance of New York co-op’s closure comes after an increasingly troubled financial situation.

“Given Health Republic’s financial situation, commencing an orderly wind down process before the upcoming open enrollment period is the best course of action to protect consumers,” said Anthony Albanese, the acting superintendent of the Financial Services Department, which oversees and regulates insurers in New York. “Moving forward, we will work closely with New York State of Health and federal regulators to help ensure continuity of coverage for Health Republic’s customers.”

The AP has reported that the closure of New York’s health co-op “has been a big hassle for Health Republic policyholders,” who have until Monday (12/1/15) “to sign up with another company if they want to maintain coverage in December.”

The situation “may be worse,” however, for physicians, hospitals, and other providers. They are obligated to continue treating Health Republic patients through the end of the month “but have been given no assurances they will ever be paid for that care.” Joseph Maldonado, MD, president of the Medical Society of the State of New York, said, “I’m aware of at least two physicians who have gotten checks from Health Republic, and those checks have bounced.” Dr. Maldonado also “said that if state officials want to count on the continued support of physicians for the health care overhaul, the government should step up and ‘make the providers whole.’” The AP adds that a survey of 800 physicians by MSSNY found that 43 percent were owed money by the insurer.

Many medical practices are presumably owed millions of dollars. A survey of 800 doctors by the medical society found that 43 percent were owed money by Health Republic. Nearly 8 percent of these medical professionals have reported that they are owed over $25,000. One practice of 22 physicians reported being owed more than $5 million..

Health Republic Insurance of New York was one of 23 nonprofit health cooperatives created nationwide by the Affordable Care Act and was the largest of those to fail. The companies, backed with $2.4 billion in taxpayer-financed loans, were supposed to be a lower cost alternative to the for profit insurers that dominate the marketplace.

In a statement by Health Republic, it said they were “deeply disappointed” by the outcome and pointed to “challenges placed on us by the structure of the CO-OP program.”

Pages

  • Acknowledging the Tireless Work of Physicians on National Doctor’s Day
  • American Cancer Society Reveals New Breast Cancer Screening Recommendations
  • De Blasio Releases Details of Turnaround Plan For NYC Health & Hospitals
  • De Blasio Unveils $850 Million Mental Health Roadmap
  • Dietary Supplements Send 23,000 People To EDs Each Year
  • EHR and ICD-10 Explained
  • Family Medicine Residency Program At New York – Presbyterian To Remain Open
  • Family Medicine Residency Program At New York – Presbyterian To Remain Open
  • Filipino Nurses and Related Articles
  • Financial Burden of Dementia
  • Growing Role of Nurses and Progress on Future of Nursing Recommendations
  • Health Effects of Hurricane Katrina – Five Years Later
  • Health Republic Closing Today (November 30, 2015)
  • Health Republic Insurance of New York Co-Op to Close
  • HHS Projects 10 Million People Will Have ACA Coverage By End Of 2016
  • ICD-9 to ICD-10 Translator
  • Implantable Device Can Be Remotely Controlled to Deliver Drugs
  • Increasing Trend In Graduating Nurses
  • Legionnaires’ Outbreak in South Bronx Claims 8 Lives
  • National Centenarian Day – Living to 100
  • New York Company To Offer World’s First Kosher Medical Marijuana
  • NPs Joining Primary Care Increases
  • Nurse Practitioners Gain More Autonomy in New York in 2015
  • Nurse Practitioners Provide Quality Care to Diabetes Patients
  • Nurses Improving Outcomes, Saving Money
  • Nursing Home Rating to Be Overhauled
  • Nursing Organizations Push for Legislation to Reauthorize Workforce Programs
  • NYPD Study Shows Increased Cancer Rates In 9/11 Ground Zero First Responder Police
  • Personalized Breast Cancer Screening
  • Pharma Payments to Nurse Practitioners Absent from Open Payments Database
  • Planet Fitness To Stop Offering “Unlimited” Indoor Tanning As Part Of Settlement With New York AG
  • Recognizing the Progress Made on World AIDS Day
  • Resource
  • Sodium Warnings Will Appear On Menus In New York City
  • Study: Women Who Use Contraceptive Implant 10 Times More Likely To Need Additional Surgery
  • Teen Births In US Are Declining
  • The Eden Prescription
  • Use Of Antipsychotic Medications Increasing Among Seniors
  • Veterans Health Care
  • Zika Virus Precautions in Long Island
  • Home
  • Location
  • Contact Us

Archives

  • October 2016
  • August 2016
  • November 2015

Categories

  • Drugs (2)
  • Uncategorized (2)

WordPress

  • Log in
  • WordPress

Subscribe

  • Entries (RSS)
  • Comments (RSS)
© Ben Philipson
  • Acknowledging the Tireless Work of Physicians on National Doctor’s Day
  • American Cancer Society Reveals New Breast Cancer Screening Recommendations
  • De Blasio Releases Details of Turnaround Plan For NYC Health & Hospitals
  • De Blasio Unveils $850 Million Mental Health Roadmap
  • Dietary Supplements Send 23,000 People To EDs Each Year
  • EHR and ICD-10 Explained
  • Family Medicine Residency Program At New York – Presbyterian To Remain Open
  • Family Medicine Residency Program At New York – Presbyterian To Remain Open
  • Filipino Nurses and Related Articles
  • Financial Burden of Dementia
  • Growing Role of Nurses and Progress on Future of Nursing Recommendations
  • Health Effects of Hurricane Katrina – Five Years Later
  • Health Republic Closing Today (November 30, 2015)
  • Health Republic Insurance of New York Co-Op to Close
  • HHS Projects 10 Million People Will Have ACA Coverage By End Of 2016
  • ICD-9 to ICD-10 Translator
  • Implantable Device Can Be Remotely Controlled to Deliver Drugs
  • Increasing Trend In Graduating Nurses
  • Legionnaires’ Outbreak in South Bronx Claims 8 Lives
  • National Centenarian Day – Living to 100
  • New York Company To Offer World’s First Kosher Medical Marijuana
  • NPs Joining Primary Care Increases
  • Nurse Practitioners Gain More Autonomy in New York in 2015
  • Nurse Practitioners Provide Quality Care to Diabetes Patients
  • Nurses Improving Outcomes, Saving Money
  • Nursing Home Rating to Be Overhauled
  • Nursing Organizations Push for Legislation to Reauthorize Workforce Programs
  • NYPD Study Shows Increased Cancer Rates In 9/11 Ground Zero First Responder Police
  • Personalized Breast Cancer Screening
  • Pharma Payments to Nurse Practitioners Absent from Open Payments Database
  • Planet Fitness To Stop Offering “Unlimited” Indoor Tanning As Part Of Settlement With New York AG
  • Recognizing the Progress Made on World AIDS Day
  • Resource
  • Sodium Warnings Will Appear On Menus In New York City
  • Study: Women Who Use Contraceptive Implant 10 Times More Likely To Need Additional Surgery
  • Teen Births In US Are Declining
  • The Eden Prescription
  • Use Of Antipsychotic Medications Increasing Among Seniors
  • Veterans Health Care
  • Zika Virus Precautions in Long Island
  • Home
  • Location
  • Contact Us