New Hampshire insurance regulators have begun supervising the operations of Patriot Health Insurance Co. and another insurer will take over its policies and operations.
Insurance Commissioner Roger Sevigny says MVP Health Insurance Co. of New Hampshire will assume Patriot’s business at the end of the year. The changes come because Patriot’s cash reserves dropped below what the state allows for health insurers.
Patriot was founded in 2005, but its start-up operating losses continued through this year. It has 6,500 members.
Sevigny said that policyholders and providers will see business as usual.
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