30,000 people will lose health insurance at the end of August as Colorado shuts down Friday Health Plans.
Friday Health Plans started in Colorado in 2015 with hopes of revolutionizing the health insurance market. Nearly a decade later, the company has imploded, leading tens of thousands of people scrambling to find new health insurance.
State regulators are moving to “liquidate” the company, meaning its assets will be divided up and the business closed. As a result, all of Friday Health’s plans in Colorado will end on August 31st. The company was already set to close, seeming to collapse after an over-aggressive expansion. But state regulators decided to speed up the shutdown amid growing concerns about the company’s financial health, including from doctors who were refusing to honor its health plans.
A special enrollment period opened on Monday, July 17th. If you want to ensure you have continuous insurance coverage, you should enroll in your new plan by August 31st.
Most Friday Health customers will be able to register for the special enrollment period and find new plans on the Connect for Health Colorado exchange or find coverage through their insurance broker. The special enrollment period will remain open through October 31st, and after that the regular enrollment period will open.
