JUNEAU, Alaska (AP) — Alaska insurance regulators have suspended Moda Health Plan from accepting new or renewal policies in the state, citing concerns with the Oregon-based company’s financial situation.
Moda is one of two companies offering individual insurance policies for Alaskans on the federally facilitated health insurance marketplace. The other is Premera Blue Cross Blue Shield.
The Alaska Division of Insurance acted Thursday after officials in Oregon placed the company under supervision due to its financial condition.
The supervision order issued by Oregon’s Department of Consumer and Business Services calls for the company to submit a business plan that it deems acceptable by Friday. The department says Moda cannot issue new policies or renew current policies in the individual market or add new groups.
A message was left for a Moda spokesman.
