Carson City, NV June 01, 2023
Nevada Insurance
Commissioner, Scott Kipper, has filed legal action with the Nevada District
Court to place Friday Health Plans of Nevada under regulatory supervision. This
action will allow the Commissioner to assume oversight and management of the
day-to-day operations of the company, while performing a thorough financial
analysis.
Friday Health Plans of Nevada is a Nevada-domiciled health
insurance company and a subsidiary of Colorado-based Friday Health Plan
Group. The company has been licensed to sell insurance in Nevada since
May 2020 and currently has approximately 2,805
individual enrollees in Nevada.
“The primary responsibility of the Division of Insurance is
to protect the consumers of the state,” said Insurance Commissioner Scott
Kipper. “Through this receivership, we can further evaluate the health of the
company and determine how to best serve the interests of Nevadans.”
Policyholders’ contracts will remain in effect and members
will need to continue to pay their premiums in accordance with the terms of
their policies to ensure there is no disruption to their coverage. Once
the court places the company in receivership, the Commissioner, through an
appointed special deputy receiver, will communicate with policyholders during
the receivership process.
Information may also be accessed through the Nevada
Division of Insurance website at doi.nv.gov or by calling the Division of Insurance at (888)
872-3234.
About the Nevada Division of Insurance
The State of Nevada Division of Insurance, a Division of
the Nevada Department of Business and Industry, protects the rights of Nevada
consumers and regulates Nevada’s $22 billion insurance industry. The Division
of Insurance has offices in Carson City and Las Vegas. For Fiscal Years 2021
and 2022, the Division investigated 5,062 consumer complaints, answered
approximately 25,000 inquiries, and recovered over $8 million on behalf of
consumers. For more information about the Division of Insurance, visit DOI.NV.GOV and follow us on our social media channels: Twitter | Facebook | LinkedIn | Instagram.
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