A lack of federal funding from the Obama administration has caused the 10th taxpayer-funded Obamacare insurance startup to close.
Utah's insurance regulator announced Tuesday that it will place Arches Health Plan in receivership. The reason is due to a small amount of funding from a federal program intended to help buttress insurers that offer plans in the Obamacare marketplaces.
The decision by the Utah Insurance Department allows the regulator to supervise the runoff of its policies. The department says Arches' customers should call their insurance agent or use healthcare.gov when open enrollment starts Nov. 1.