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Life Health > Health Insurance

Kentucky CO-OP liquidator posts agent notice

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The Kentucky Department of Insurance hopes to tell the state’s health insurance agents and brokers by next Tuesday how much it thinks Kentucky Health Cooperative Inc. owes them for unpaid commissions.

A state court issued a liquidation order for the nonprofit, member-owned Consumer Oriented and Operated Plan (CO-OP) carrier in January. The court appointed H. Brian Maynard, the Kentucky insurance commissioner, to be the liquidator.

See also: What happens if health insurers fail?

Agents and brokers do not have to file a formal proof of claim for unpaid Kentucky Health Cooperative commissions, but they can dispute the liquidator’s calculations, if they choose to do so, according to a version of the liquidation notice prepared for agents and brokers.

Any claims for disputed amounts are due by Oct. 15.

Producers who believe they are owed commissions, but do not receive a notice from the liquidator, can file proof-of-claim forms, according to the notice.

“Agents and brokers are not required to provide any additional notice of liquidation to insureds,” the notice states.

See also:

Guaranty funds start paying CoOportunity claims

Kentucky PPACA CO-OP to shut down

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