U.S. Rep. Chris Gibson (R-N.Y., 19th district) formally requested New York State Comptroller Thomas P. DiNapoli investigate the state Department of Financial Service’s oversight of the failed Health Republic insurance co-op.
State and federal regulators decided to close Health Republic, a not-for-profit co-op established under the Affordable Care Act, leaving more than 200,000 New Yorkers without health insurance.
“When the healthcare of more than 200,000 New Yorkers is interrupted and more than $250 million of federal investment has been lost, it is the duty of government officials to restore confidence in the regulatory infrastructure designed to prevent such failures,” Gibson wrote in a Nov. 10. letter to Comptroller DiNapoli.
“I urge you to initiate an investigation of the caliber that your office has been known for by the people of New York, and look forward to reviewing your findings,” Gibson said in the letter to DiNapoli.
Gibson asked Comptroller DiNapoli to consider several points of inquiry, including whether Health Republic misrepresented their financials to state Department of Financial Service and whether that agency had the appropriate staffing to oversee Health Republic given the vacancies of several senior-level positions in recent months, according to the letter.
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- New York Regulators to Shut Obamacare Insurer Health Republic
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- Fine for Not Having Health Insurance Is Going Up
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