The Iowa Insurance Commissioner Nick Gerhart plans to file a petition next week to liquidate CoOportunity Health, saying in a release that medical claims exceed cash on hand, with no expectation of additional cash flow until the second half of the year. Gearhart, the court appointed rehabilitator for CoOportunity Health, said in the release that the action is being taken to protect Iowans and Nebraskans to ensure that their medical providers and claims are paid by the state guaranty associations in Iowa and Nebraska. “Our No. 1 priority is to the Iowans and Nebraskans impacted by this event. We want to ensure a seamless transition as possible to other coverage and avoid any gaps in coverage,” he said. Once a petition is filed, a hearing will occur in late February with an order to liquidate taking effect Feb. 28. Iowans receiving advance premium tax credits to help pay for their insurance, need to find other coverage by March 1. After that date, CoOportunity Health will no longer be a qualified health plan, and advanced premium tax credits and cost sharing subsidies to CoOportunity enrollees will stop. Gearhart said individuals should obtain other coverage as soon as possible. Open enrollment continues until Feb. 15. Employers with coverage in the group market need to work with their agents to obtain other coverage as soon as possible. Upon liquidation, groups will have 30-45 days to secure coverage. For additional details see the General Information and FAQs posted on the websites of the Iowa Insurance

Division and the Nebraska Department of Insurance.