Friday Health Plans

via Connect for Health Colorado:

There Are Just a Few Days Left for Friday Health Plans Customers to Avoid a Gap in Coverage 

08/29/2023

  • Customers must enroll in a plan by this Thursday to have coverage that starts Sept. 1

DENVER— Friday Health Plans customers have less than three days to choose a new health insurance plan before their current health insurance coverage ends. Last month, the Colorado Division of Insurance announced that it had asked the courts to move Friday Health Plans into liquidation, ending coverage for all Friday Health Plans customers on August 31, 2023. Connect for Health Colorado, the state’s official health insurance marketplace, continues to urge Friday Health Plans customers to sign up for a new plan on or before this Thursday, August 31, to avoid a gap in coverage.

via Connect for Health Colorado:

08/14/2023

  • So far, about 46 percent of these customers have picked a new plan*

DENVER— Friday Health Plans customers have about two and half weeks* to choose a new health insurance plan before their current health insurance coverage ends. Connect for Health Colorado, the state’s official health insurance marketplace, is urging Friday Health Plans customers to sign up for a new plan before the end of the month to avoid a gap in coverage.

*Note that this press release was issued 9 days ago, so CO Friday enrollees actually only have 8 days left.

I thought I had finally posted the last entry regarding the Friday Health Plans debacle, but there's still some mopping up left to do in a few states.

via Connect for Health Colorado:

Friday Health Plans Coverage Ending August 31

DENVER— Today, the Colorado Division of Insurance (DOI) announced that they have asked the courts to move Friday Health Plans of Colorado into liquidation, which will end coverage for Friday Health Plans customers on August 31, 2023. 

Chief Executive Officer of Connect for Health Colorado, Kevin Patterson, released the following statement: 

A few weeks ago, I reported that both Nevada and Oklahoma had placed insolvent insurance carrier Friday Health Plans under receivership, leaving just two states left to do so (North Carolina and Colorado, which happens to also be the home to Friday's corporate headquarters).

It turned out that I was correct about Oklahoma, but had jumped the gun slightly re. Nevada; the insurance commissioner had petitioned the court to put Friday into receivership, but hadn't actually done so yet.

Well, it turns out my error re. Nevada has been rendered moot as of yesterday; via the Nevada Division of Insurance:

JUNE 21, 2023 - Court orders receivership for Friday Health Plans of Nevada

FOR IMMEDIATE RELEASE – June 21, 2023

After the recent news about Friday Health Plans in Texas, Georgia, Colorado, New Mexico, Nevada & Oklahoma, this isn't terribly surprising, but...

via the North Carolina Dept. of Insurance (email; no link yet):

Insurance Commissioner Causey places Friday Health Plans of North Carolina Inc. into receivership

RALEIGH – North Carolina Insurance Commissioner Mike Causey announced today that Friday Health Plans of North Carolina Inc. (FHP-NC) has consented to being placed into receivership to protect North Carolina policyholders due to its reported insolvency and inability to raise additional funds from outside investors. 

The petition for receivership is expected to be filed with the Wake County Superior Court today and the receivership order will be posted on the North Carolina Department of Insurance website after the order is signed.   

Wow. It took less than 12 hours from this announcement by the COLORADO Dept. of Regulatory Agencies to be released...

Friday Health Plans, Inc. Winding Down Business

What Happened?

Friday Health Plans, Inc., the parent company of Friday Health Plan of Colorado, ,Inc. (HMO), has announced that it will begin to wind down its business activities throughout the country, working in close conjunction with state regulators, including the Colorado Division of Insurance.

In recent months, it became apparent that the parent company would need to raise substantial capital to continue. Friday was ultimately unable to raise that capital and on June 1, Friday Health Plans, Inc. (Parent) stated publicly that they would begin to wind down.

...to this press release from the NEVADA Division of Insurance:

 

October 2022:

Texas: Friday Health Plans Bails; Another ~230K Enrollees Will Have To Pick A Different Day Of The Week

It was just four days ago that Bright Healthcare, which had been aggressively expanding their individual market coverage area footprint as recently as a year ago, suddenly announced that they were doing a complete 180 and instead pulling out of virtually the entire individual & small group markets nationally starting in January 2023.

...Well, just one day after the Bright Healthcare bombshell news broke, Texas-based health insurance broker Jenny Chumbley Hogue sounded the alarm on another large carrier bailing on Texas next year:

And its confirmed. Email received from Friday. Buckle up folks! Individual OEP in Texas is going to be a bumpy ride! https://t.co/AMNJ4rPyr3

October 2022:

...Well, just one day after the Bright Healthcare bombshell news broke, Texas-based health insurance broker Jenny Chumbley Hogue sounded the alarm on another large carrier bailing on Texas next year:

TX Marketplace Rumor Mill: Friday Health Plans is OUT for 2023. @LouiseNorris @charles_gaba @bjdickmayhew

— Jenny Chumbley Hogue (@kgmom219) October 12, 2022

And its confirmed. Email received from Friday. Buckle up folks! Individual OEP in Texas is going to be a bumpy ride! https://t.co/AMNJ4rPyr3

— Jenny Chumbley Hogue (@kgmom219) October 12, 2022

 

October 2022:

Texas: Friday Health Plans Bails; Another ~230K Enrollees Will Have To Pick A Different Day Of The Week

It was just four days ago that Bright Healthcare, which had been aggressively expanding their individual market coverage area footprint as recently as a year ago, suddenly announced that they were doing a complete 180 and instead pulling out of virtually the entire individual & small group markets nationally starting in January 2023.

...Well, just one day after the Bright Healthcare bombshell news broke, Texas-based health insurance broker Jenny Chumbley Hogue sounded the alarm on another large carrier bailing on Texas next year:

 

October 2022:

Texas: Friday Health Plans Bails; Another ~230K Enrollees Will Have To Pick A Different Day Of The Week

It was just four days ago that Bright Healthcare, which had been aggressively expanding their individual market coverage area footprint as recently as a year ago, suddenly announced that they were doing a complete 180 and instead pulling out of virtually the entire individual & small group markets nationally starting in January 2023.

...Well, just one day after the Bright Healthcare bombshell news broke, Texas-based health insurance broker Jenny Chumbley Hogue sounded the alarm on another large carrier bailing on Texas next year:

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