Though insurance regulators in Maine sought to put the state's struggling community operated and oriented plan (CO-OP) into receivership to curtail its mounting losses, the Centers for Medicare & Medicaid Services (CMS) rejected that plan, the Portland Press Herald reports. The move to let state regulators take temporary control of the CO-OP would have canceled as many as 17,000 individual policies. But CMS said the state's plan would have violated the Affordable Care Act's mandate that all policies be renewed, according to the article.
The CO-OP, Community Health Options, lost $31 million in 2015, though previously it had been one of the rare success stories. Given its losses, some have criticized salary increases awarded to its top executives. Article