PORTLAND, Maine - Maine's only insurance co-op will leave the New Hampshire market in 2017, two years after it first entered.
Community Health Options CEO Kevin Lewis says exiting New Hampshire will help the co-op recover after losing more than $30 million in 2015 due to higher-than-expected claims costs.
"We're leaving New Hampshire as of 2017 to concentrate our capital in Maine, and to continue our effort to strengthen our position here," Lewis says.
Lewis says he hopes Community Health Options will re-enter the New Hampshire market at a later date. The co-op is being closely monitored by the Maine Bureau of Insurance, which reports that the company has been operating close to plans and projections to regain stability.
