The 8th Judicial District Court of Nevada has ordered Friday Health Plans of Nevada into receivership and appointed Nevada Insurance Commissioner Scott Kipper as Receiver.
Kipper initiated the petition for receivership on June 1 with the company’s consent due to concerns about FHP-N’s financial condition.
The order allows Kipper, through an appointed special deputy receiver, to take over the day-to-day operations of the company and to examine its finances to determine the best option to protect policyholders and creditors鈥攅ither by rehabilitating and returning the company to private management, or by liquidating the company.
The court has also issued an injunction against providers from denying health services to members during the receivership.
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