The Health Insurance Administration (ASES) Executive Director, Jorge Galva, confirmed this Sunday that the entity has not authorized the sale of Puerto Rico ‘s insurer Molina Healthcare to Triple-S . According to the official, “after a risk assessment, the board of directors of ASES, specialized advisors and our team have determined that the proposed transaction is contrary to the best interests of the Vital Plan beneficiaries and providers, of which Molina Healthcare is a part.
Galva gave the insurer five business days to submit to ASES and the state and federal regulatory agencies with jurisdiction over the government’s health plan a “acceptable plan.” According to a press release from ASES, Molina Healthcare, which has some 168,000 beneficiaries of Plan Vital, planned to cease operations on 1 July to transfer them to Triple-S. “Therefore, before an orderly transition is approved, Molina Healthcare will continue to provide its services until Molina ceases its operations in Puerto Rico,” Galva said.
The official said he expects to meet with the insurer’s executives next week to discuss his determination.
“We will keep the beneficiaries and service providers assigned to the Molina Healthcare Insurer informed of the transition plan which is finally approved and which we will communicate appropriately,” she added, “in this process the patient has and will have the power to choose their insurer and we will ensure the protection of the interests of the providers in the current Molina network.”