State Insurance Commissioner announces plans to liquidate CoOpportunity Health

Iowa Insurance Commissioner Nick Gerhart announced Friday that he would seek liquidation of CoOportunity Health, one of the insurance companies offering coverage to Iowans under the Affordable Care Act.

Nearly 120,000 customer of CoOpportunity in Iowa and Nebraska will be affected.

Gerhart said the company does not have enough cash on hand to continue operating.

Decorah insurance specialist Brian Huinker from Midwest Group Benefits says if you have a CoOpportunity health insurance policy, you should call an agent as soon as possible for help in transitioning into another policy.  The paperwork must be completed by February 15th in order to get coverage as of March 1st.

Huinker is helping many individuals and companies to switch to Coventry Health Insurance.  He says there are no financial worries about Coventry because it is owned by Aetna Insurance--the second largest insurance company in the United States.