Datapoint: Friday Health Plans Ordered to Liquidate in Texas

Friday Health Plans Inc., a Texas-based health insurance startup, has been placed under receivership by the Texas Department of Insurance and ordered to liquidate. The Travis County District Court found Friday Health to be insolvent, with total liabilities exceeding its admitted assets and total adjusted capital less than what is required under the Texas Insurance Code. The company launched in 2015 and focused on marketplace products, later expanding to Individual Coverage Health Reimbursement Arrangements (ICHRAs). But like other startups, it struggled to reach profitability or substantial market share. Prior to the receivership, Friday enrolled 293,111 members in Texas, making it the fourth-largest exchange insurer in the state. Members will continue to receive benefits until the company fully winds down operations, according to Friday Health’s website. The insurer continues to serve an additional 88,580 members in six other states; Colorado, Georgia, Nevada, New Mexico, North Carolina and Oklahoma.

Source: AIS’s Directory of Health Plans

0 Comments
AIS Health Staff

AIS Health Staff

Related Posts

businessman-using-laptop-computer-and-digital-tablet-analyzing-sales-data-and-graph-chart
February 22

Datapoint: Baystate to Sell Health Plan to Point32Health

Read More
businessman-using-laptop-computer-and-digital-tablet-analyzing-sales-data-and-graph-chart
February 21

Datapoint: Cigna, HelloFresh Partner on Meal Kit Benefits

Read More
businessman-using-laptop-computer-and-digital-tablet-analyzing-sales-data-and-graph-chart
February 20

Datapoint: SCAN, CareOregon Nix Merger Plans

Read More

GAIN THERAPEUTIC AREA-SPECIFIC INTEL TO DRIVE ACCESS FOR YOUR BRAND

Sign up for publications to get unmatched business intelligence delivered to your inbox.

subscribe today