Oklahoma’s insurance department has placed Mending Health under supervision as the insurer winds down operations in the state
Formerly known as Taro Health, Mending was founded in 2021 and offered individual and small group plans in Oklahoma and Maine. In June, the company announced it would exit the marketplace business for 2027 and shift its focus to direct primary care access through other carriers via its Mending Access platform.
“Given the company’s current financial situation, we determined this action was needed to protect policyholders and ensure their claims are paid,” Oklahoma Insurance Commissioner Glen Mulready said Aug. 26.
The order of supervision requires Mending to continue processing and servicing claims, including making timely payments, and a supervisor has been designated to oversee the company’s finances and claims handling.
Co-founder Jeff Yuan told Becker’s the supervision was expected.
“We’ve been working with the OID for several months on an orderly exit,” he said. “We support the OID helping us stop enrollment as we wind down our insurance subsidiary businesses, so we can focus on our DPC technology and data platform for employers and other health plans.”
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