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December 13, 2007 at 12:03 PM
The New Hampshire Insurance Department has found an acquirer for the operations of a small, struggling health insurer.
MVP Health Insurance Company of New Hampshire, Bedford, N.H., a unit of MVP Health Care Inc., Schenectady, N.Y., has agreed to assume the policies and operations of Patriot Health Insurance Company, Manchester, N.H., Dec. 31, according to New Hampshire department officials.
Organizers started Patriot in 2005 to serve the market for account-based health plans. The company now covers 6,500 individuals and has suffered operating losses that required that steps be taken to maintain the security of the coverage over the long term, according to Roger Sevigny, the New Hampshire insurance commissioner.
