Health Insurance Provider Liquidated
A Hawaii health insurance provider for 420 employer groups was liquidated Thursday — and employers have 30 days to find new coverage.
Insurance plans for thousands of Hawaii workers will run out next month following a liquidation order issued Thursday for , a health insurance provider for employers and organizations.
The order, signed by State First Circuit Court Judge Karen T. Nakasone, gives 420 employer groups until May 6 to find new coverage for their employees, according to the of the .
About 6,000 to 7,000 policy holders will be affected, said William Nhieu, communications officer for the department.
FHH’s net worth in 2015 dropped below the minimum amount required state law. The said that in the three years since the company began in February 2013, FHH has reported an operating loss of about $6.5 million.
“Further delay would only increase the risk of loss and jeopardize FHH’s policyholders’ access to healthcare and providers under their plans,” Hawaii Insurance Commissioner Gordon Ito said in the release.
The Hawaii Insurance Division that employers with FHH policies begin notifying their employees of the change and immediately look for new coverage plans.
