As a result, a Baltimore circuit judge ordered Risk & Regulatory Consulting in Farmington, Conn., to take over the financially strapped insurer Wednesday for the Maryland Insurance Administration.
Evergreen, one of 23 nonprofit health plans created under the ACA, covers roughly 25,000 individuals. Risk & Regulatory Consulting will pay members’ claims until all plans expire. Afterward, the state will close out Evergreen’s operations unless a buyer surfaces.
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