Earlier this month, state officials assumed control of Minuteman Health, a Boston-based health insurer created under the Affordable Care Act. The state says the company does not have sufficient capital to move forward into 2018.
Minuteman began selling plans in 2013 on the state's Health Connector, with a multimillion-dollar loan from the federal government. The goal was to create a more affordable insurance option for patients — the company currently insures about 8,500 members in Massachusetts.
Though it's now in receivership, the company says no member policies will be canceled and claims will continue to be paid.
This is happening at an interesting moment for insurance companies; divided politics in Washington are creating a period of instability, and uncertainty, for the ACA.
This segment aired on August 10, 2017.