Arches Health Plan to stop operations
SALT LAKE CITY — About 45,000 Utahns who use Arches Health Plan will need new health coverage beginning in 2016 because of a severe shortfall in expected federal funding, the Utah Department of Insurance announced Tuesday.
Arches customers will continue to receive full coverage through Dec. 31, the department said.
The Department of Insurance will take Arches into receivership, meaning it will supervise the processing of the health co-op's remaining claims.
Arches, the only co-op health plan in Utah, began offering insurance through the Affordable Care Act in fall 2013, beginning coverage in January 2014. The nonprofit group says it's ceasing operations because of a lack of funding from the federal "risk corridor" program, which was built into the Affordable Care Act and intended to protect insurance companies from their losses.
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