Insurance regulators are petitioning a Ramsey County judge to let the state take control of operations at UCare, a move designed to protect consumers and stabilize operations as part of an orderly wind-down at the Minneapolis-based health insurer. The petition asking the court to put UCare in a status known as “rehabilitation” follows a previously undisclosed September finding that UCare should submit to administrative supervision and take immediate steps to “remedy its hazardous financial condition by seeking an acquisition or merger partner.
Read the full article: State Seeks Takeover at UCare After ‘Hazardous’ Financial Conditions at Health Insurer //
Source: https://www.startribune.com/state-seeks-takeover-at-ucare-after-hazardous-financial-conditions-at-health-insurer/601542205