The Nebraska Division of Insurance coverage made a degree of fining Vivid Well being and criticizing its response to a state regulatory examination, though the corporate is already getting out of the medical health insurance enterprise.
The division just lately printed a consent order displaying that the Minneapolis-based firm has agreed to pay a $1 million penalty in response to considerations about the way it handles medical health insurance claims.
Vivid Well being can be alleged to ship the division a month-to-month declare cost standing report, and the division posted a report emphasizing that examiners’ evaluation of the corporate’s declare dealing with issues could also be incomplete, “due, partly, to the corporate being uncooperative and dismissive of regulators’ questions in sure cases.”
The corporate: Vivid Well being is one in every of a number of small, for-profit corporations that attempted to leap into the marketplace for Medicare Benefit plans and Reasonably priced Care Act particular person main medical insurance policy simply as COVID-19 was about to ship claims hovering, disrupt operations and roil the capital markets.
The corporate elevated enrollment quickly and had hassle elevating capital to assist its enterprise. It introduced in Might that it could be getting out of medical health insurance and specializing in operating well being care clinics.
The examination: Nebrask officers say they reviewed recordsdata associated to 91 client complaints together with a random pattern of different information.