Moda Health has been stung with yet another downgrade of its credit rating by A.M. Best. This is the second time in the last several months that Moda’s taken a smacking from the world’s most authoritative insurance rating and information source.
The partnership announced by Oregon Health & Science University to acquire a 25 percent interest in Moda Health could have implications for the state’s largest coordinated care organization, Health Share.
The latest news about Moda’s failure to negotiate a contract with Providence Health & Services has onlookers speculating that the health plan could be on the chopping block – ripe for a takeover.
Once again Moda Health Plan has walked away with the highest number of individual members on the health insurance exchange in Oregon – 101,374 people for a growth of 19 percent over last year.
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Moda Health has more than doubled in size since Jan. 1, when federal rules surrounding health coverage went into effect. Over the same period, Oregon’s largest insurers have shed tens of thousands of members, according to third-quarter statements filed with regulators.
Oregon may move to increase the number of medical residencies in the state that have been all but frozen in place since 1997, with an assist from Moda Health.
Oregon’s dominant healthcare players are expected to make major announcements in the coming weeks that could transform the landscape, The Lund Report has learned.
Moda Health may have some more explaining to do if it’s going to get the full 12.5 percent rate hike it’s requested from Oregon’s Insurance Division for its 2015 individual health plans.
August 27, 2013 — Health insurance companies have poured more than $550,000 into state and local elections in Oregon since the start of 2011, with over 40 percent of that money spent by Regence BlueCross BlueShield, which invested $236,000 in its preferred candidates and causes.