Ohio insurance regulators moved to liquidate Renaissance Health Plan, Cleveland, making it the state's fifth failed Medicaid HMO since 1997. The plan was seized by the state in August after an independent audit discovered it had suffered a deficit of $8.1 million last year. Renaissance had 55,772 enrollees at the end of 2001, but membership plummeted this year after the company discontinued its commercial and Medicare+Choice plans. In August Renaissance notified providers that it planned to sell its Medicaid operations to a potential buyer in Texas, but the proposed sale fell through. Renaissance had 35,500 Medicaid enrollees as of Aug. 1. The HMO blamed its woes on low reimbursement, computer system problems and rising healthcare costs. In May the company dismissed its CEO and president, replacing them with a five-member management team. -- by Laura B. Benko
Ohio to liquidate Medicaid HMO
Send us a letter
Have an opinion about this story? Click here to submit a Letter to the Editor, and we may publish it in print.