- Associated Press - Thursday, August 11, 2016

PHOENIX (AP) - The Arizona Department of Insurance says a judge has placed the state’s failed health insurance co-op into receivership after it ran out of money to pay its debts.

The order issued Wednesday allows the department to sell the assets of Meritus Health Partners and Meritus Mutual Health Partners to pay its creditors.

Meritus ceased operations at the end of last year after the insurance department suspended its right to sell new policies or renew current ones because of fears it would become financially insolvent. It had been the largest Arizona insurer on the federal health insurance marketplace with more than 59,000 customers.

Meritus has been winding down operations and paying hospital and doctor claims. It wasn’t immediately clear how much it still owes.

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