'A South Carolina health insurer has become the ninth insurance cooperative formed nationwide under the Affordable Care Act to fold.
Consumers' Choice Health Insurance Co. said Thursday that it will not sell policies in 2016, a decision that will leave 67,000 individuals and business customers looking for new coverage.
Ray Farmer, director of the South Carolina Department of Insurance, said Consumers' Choice and state regulators reached a mutual decision to shut down the company's business. He said the company was in a "financially hazardous condition."
"I did not have the confidence that this company would be a viable entity throughout the entire year of 2016," Farmer said.”' - Ninth cooperative formed under Affordable Care Act closing, AP, 10/22/2015
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