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Colo. losing last Medicaid HMO; 65,000-member plan will close by end of August.

Publication: Modern Healthcare
Publication Date: 14-AUG-06 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
Byline: Laura B. Benko

Colorado's last remaining Medicaid HMO issued pink slips last week to more than half of its 250 employees after deciding to pull out of the state-funded insurance program for low-income adults amid mounting losses and dwindling reimbursement rates.

Provider-owned Colorado Access, Denver, said it will eliminate 140 positions companywide by Oct. 9 in a turnaround effort that involves refocusing on its much smaller yet far more profitable Medicare managed-care business. The layoffs come just weeks after the not-for-profit health plan announced plans to shutter its 65,000-member Medicaid medical HMO by the end of August. The HMO will continue to serve 100,000 members enrolled in its Medicaid behavioral-health plan, Child's Health...

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