Citing the need to preserve remaining assets, the Kentucky Health Cooperative was placed in liquidation Friday (1/15) at the request of the Kentucky Department of Insurance. The order was signed by Franklin Circuit Judge Phillip J. Shepherd.
Kentucky Health Cooperative was placed in rehabilitation on October 29, and the Department of Insurance began oversight of the day-to-day operations of the nonprofit health insurance company at that time.
Under the supervision of Franklin Circuit Court, the special deputy liquidators will begin terminating any remaining business of the Kentucky Health Cooperative and will distribute the remaining assets in the order outlined in Kentucky statute.
Providers, agents and others with claims against the cooperative will be notified. The deadline for filing claims will be October 15, 2016.
All individual health insurance policies and most group plans terminated on January 1, 2016. Any remaining Kentucky Health Cooperative policies will terminate no later than January 31, 2016.
Documents will be available on the Department of Insurance (insurance.ky.gov) and Kentucky Health Cooperative (mykyhc.org) websites.
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