Moda Health Plan to Shut Down in Two States

Moda, one of Oregon's largest health insurers, has suffered two consecutive years of losses, a depletion of capital and heightened regulatory scrutiny after an aggressive push into new insurance markets mandated by the Affordable Care Act proved a financial disappointment.

Moda learned earlier this month that it will receive only $11 million of the nearly $90 million it was expecting from the federal government to cover costs related to the Affordable Care Act.

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