The North Carolina Department of Insurance is suspending new enrollment in Friday Health Plans.
According to an April 17 news release from the North Carolina Department of Insurance, the plan reached its maximum expected enrollment for 2023. The plan will not be able to add new members in the state for the rest of the year, except for dependents of existing members.
The suspension does not have any effect on access to coverage and benefits for existing Friday Health Plan members in North Carolina, a Friday Health spokesperson told Becker's.
"Friday Health Plans has grown incredibly quickly in North Carolina and reached our maximum expected enrollment for the 2023 plan year, which is a testament to the strength of our offering for members in the state. We are currently working with regulators to optimize our operations and create a solid foundation for Friday's long-term success," the spokesperson said.
The payer has faced regulatory actions in Oklahoma and Texas in 2023. Oklahoma placed the company under the supervision of the state's insurance department. It cannot add new members or spend more than $5,000 without the state's oversight.
Texas regulators placed Friday Health Plans into liquidation and have ordered the plan to end all operations in the state.
The Alamosa, Colo.-based company was founded in 2015 and offers individual and small group plans both on and off the exchange. As of 2023, the company is offering ACA plans in Colorado, North Carolina, Georgia, Nevada and Oklahoma.