U.S. Bankruptcy Court in Denver refused a Nov. 15 petition by the Community Health Plan of the Rockies, Denver, for Chapter 11 bankruptcy protection. The HMO, the first in Colorado to file for bankruptcy, wants to exit the commercial market in an effort to save its original Medicaid business, company officials said. "We made the determination that the commercial lines had not been profitable for a couple years and for that reason elected to get out of that business," said Ron Taylor, the company's general counsel. The HMO has 10 days to appeal and is evaluating whether to do so, Taylor said. It also is working with the state Division of Insurance to resolve certain issues, he said. "We're continuing in operation and have the ability to continue to cover our members' claims," Taylor said. The health plan has laid off about 40 employees, roughly one-third of its total staff. -- by Julie Piotrowski
Court rejects Colo. HMO's plea for bankruptcy
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