Search Results for: SHIP rehabilitation

UPDATE: Find the approved rehabiliation plan posted by the court on Sept. 30 here: Aug. 26, 2021 — The Commonwealth Court of Pennsylvania has approved the amended rehabilitation plan for insolvent long-term care insurer, Senior Health Insurance Company of Pennsylvania (SHIP.)  The rehabilitation will address SHIP’s “hazardous financial condition” involving about 39,000 in-force policies by increasing … Continue reading “Court approves insolvent LTC insurer SHIP’s rehabilitation plan”

Feb. 6, 2021 — Senior Health Insurance Company of Pennsylvania or SHIP is on track for a potential rehabilitation in the third-quarter of 2021 with a hearing scheduled for April 26. That’s according to new filings in the case and sources involved wit hthe ongoing case of the beleaguered long-term care insurance company with a … Continue reading “SHIP’s amended rehabilitation plan gets some set-sail dates”

With updates Jan. 28 from Pennsylvania Insurance Department. Jan. 24, 2020 — After months of wrangling among industry experts, insurance regulators and board members, Senior Health Insurance Company of Pennsylvania, known as SHIP,  is now under a court petition for rehabilitation and has been declared by regulators to be insolvent. This is according to an application for an … Continue reading “Pa. commissioner files to send SHIP into rehabilitation, declares it insolvent, in dire condition”

March 3, 2022 –Claiming that only individual states have the authority to approve or deny insurance rates and forms for policies in their jurisdictions, a few states have begun issuing cease and desist orders against the rehabilitators of insolvent long-term care provider, Senior Health Insurance Company of Pennsylvania (SHIP). Some states have already won or … Continue reading “As SHIP policyholder election deadline approaches, multiple states file cease & desist orders again rehab plan”

Feb.15, 2022 — Two key regulators involved in the rehabilitation proceeds surrounding insolvent insurer Senior Health Insurance Company of Pennsylvania are leaving their posts.  Head SHIP rehabilitator and Pennsylvania Insurance Commissioner Jessica Altman is leaving as top regulator in the Commonwealth before leaving to become CEO of Covered California, the state’s individual health insurance marketplace. … Continue reading “Key SHIP LTC rehab players, Altman and Cioppa, leaving posts as top insurance regulators”

Feb. 7 — South Carolina and Louisiana state insurance regulators have won temporary injunctions against implementation of the rehabilitation plan for insolvent insurer Senior Health Insurance Co. of Pennsylvania (SHIP), even as a broad multi-state effort to stay the controversial plan pending appeal failed. S. C. judge thinks rehab plan might be overturned The temporary … Continue reading “S.C and Louisiana win temporary injunctions against SHIP rehab plan; stay pending appeal in Pa is denied”

Breaking, to be updated Dec. 29 — Three state regulators filed an appeal in the Supreme Court of Pennsylvania Dec. 27th against the amended rehabilitation plan for insolvent long term care insurer Senior Health Insurance Company of Pennsylvania. They were joined by a whopping 27 state regulators as amici to the case, demonstrating that well … Continue reading “Three states appeal SHIP LTC’s rehab plan to Pennsylvania Supreme Court; 27 other jurisdictions sign on as amici”

Breaking–will be updated with any comments, new information Update: Nov. 16, 2021: States have answered the Nov. 15th deadline to opt in or out of the rehabilitation. While no count is available at this time to us, some opposing states are electing to not recognize the two choices given, with South Carolina calling the rehab … Continue reading “19 states file amici intent with Pa SC to support Maine, Wash & Mass opposition to SHIP rehab plan”

Unless intervening states win a stay pending appeal UPDATE Nov. 18: A total of 12 states have opted out and a number of other states, likely about 10, have raised objections to the opt in/opt out question itself and are keeping open their legal options when and if the rehab plan is triggered Nov. 11, … Continue reading “SHIP rehab plan’s opt-out deadline fast-approaching for states”

April 10, 2021 — Parties to the rehabilitation of Senior Health Insurance Co. of Pennsylvania, or SHIP, are disputing the best way to treat insolvent long-term-care insurer’s policyholders when billions of dollars and end-of-life care coverage are at stake.  Rehabilitators and at least a dozen state insurance commissioners intervening, suing or supporting the interveners in … Continue reading “State insurance regulators challenge SHIP rehab plan, wonder if policyholders will get a fair shake”