NEW MEXICO HEALTH CONNECTIONS CO RISK & REGULATORY CONSULTING LLC

ON MARCH 19, 2021, THE SECOND JUDICIAL DISTRICT COURT, BERNALILLO COUNTY, ORDERED NEW MEXICO HEALTH CONNECTIONS ("NMHC THE "COMPANY") INTO LIQUIDATION. RISK AND REGULATORY CONSULTING, LLC WAS APPOINTED AS SPECIAL DEPUTY RECEIVER. NEW MEXICO HEALTH CONNECTIONS HAS NOT CONDUCTED ACTIVE PROGRAM OPERATIONS DURING THE REPORTING PERIOD AND EXISTS SOLELY TO ADMINISTER THE WINDDOWN OF THE ORGANIZATION UNDER COURT SUPERVISION. REVENUES REPORTED FOR THE YEAR CONSIST PRIMARILY OF POSTLIQUIDATION RECOVERIES, INCLUDING LITIGATION SETTLEMENTS AND RECOVERIES OF PRIOR RECEIVABLES. THESE AMOUNTS ARE NOT RELATED TO ONGOING PROGRAM ACTIVITIES. ALL FUNDS ARE USED TO SATISFY CREDITOR CLAIMS, COURTAPPROVED DISTRIBUTIONS, AND ADMINISTRATIVE COSTS OF THE LIQUIDATION ESTATE, AND ARE NOT USED TO RESUME OR RESTART OPERATIONS. PRIOR TO LIQUIDATION, NEW MEXICO HEALTH CONNECTIONS WAS A PRIVATE, NONPROFIT COMPANY ESTABLISHED UNDER INTERNAL REVENUE CODE 501(C)(29) THAT WAS INCORPORATED IN THE STATE OF NEW MEXICO IN FEBRUARY 2011. ON FEBRUARY 17, 2012, THE COMPANY BECAME A QUALIFIED NONPROFIT HEALTH INSURANCE ISSUER UNDER THE CONSUMER-OPERATED AND ORIENTED PLAN (CO-OP) PROGRAM ESTABLISHED BY SECTION 1322 OF THE AFFORDABLE CARE ACT AND APPLICABLE REGULATIONS. UNDER THIS PROGRAM, THE COMPANY RECEIVED STARTUP AND SOLVENCY LOANS FROM THE UNITED STATES DEPARTMENT OF HEALTH AND HUMAN SERVICES, CENTERS FOR MEDICARE AND MEDICAID SERVICES (CMS). THE COMPANY WAS GOVERNED BY ITS BOARD OF DIRECTORS, WHICH HAVE THE AUTHORITY AND RESPONSIBILITY FOR MANAGEMENT, CONTROL, AND ADMINISTRATION OF THE COMPANY. THE COMPANY RECEIVED ITS CERTIFICATE OF AUTHORITY FROM THE STATE OF NEW MEXICO PUBLIC REGULATION COMMISSION, INSURANCE DIVISION IN FEBRUARY 2013. THE PRIMARY MISSION OF THE COMPANY WAS TO PROVIDE AFFORDABLE COMMUNITY HEALTH CARE INSURANCE ACROSS THE STATE OF NEW MEXICO TO THE INDIVIDUAL AND SMALL GROUP MARKETS. THE COMPANY BEGAN OPEN ENROLLMENT IN OCTOBER 2013, FOR AN EFFECTIVE INSURANCE COVERAGE DATE OF JANUARY 1, 2014. THE COMPANY WAS FOCUSED ON THE WELL-BEING OF PARTIES BY MAKING SURE THEIR HEALTH CARE WAS COORDINATED AT EVERY LEVEL AND THAT A STRONG NETWORK OF PRIMARY CARE PROVIDERS WAS AVAILABLE TO ENSURE GOOD HEALTH OF OUR MEMBERS. THE COMPANY'S PRIORITY WAS TO KEEP MEMBERS HEALTHY, LOWERING PREMIUM COSTS AND DELIVERING APPROPRIATE LEVELS OF CARE AT THE RIGHT TIME TO KEEP MEMBERS HOME AND OUT OF UNNECESSARY HOSPITAL STAYS. THIS WAS ACCOMPLISHED BY PROVIDING COMMUNITY-BASED CASE MANAGEMENT TO ENSURE THE MEMBERS WERE WELL CARED FOR.