Return of the Rose Garden?

[SlyPokerDog]

OHSU props up money-losing Moda with secret, unsecured $50 million loan

When embattled health insurer Moda Health Plan Inc. launched a high-stakes hunt for money in 2014, deep-pocketed help came not from Wall Street or the capital markets but atop Portland's Pill Hill.

Oregon Health and Science University stepped up with an unprecedented $50 million loan to shore up Moda's sagging financial condition. It was the largest such transaction in OHSU's history and, as the institution is learning, one of the riskiest.

A public corporation funded in part by taxpayer money making an eight-figure loan to a private insurance company would be unusual at any time. But additional financial setbacks at Moda this fall raise new questions about the safety of the loan and OHSU's judgment.

OHSU acknowledges it threw Moda the lifeline in part out of gratitude.

http://www.oregonlive.com/business/...ops_up_money-losing_mod.html#incart_big-photo

 

[bodyman5000 and 1]

Is this a joke?

 

[SlyPokerDog]

Moda to shut down in two states after health insurance setbacks

Moda Health Plan Inc. is pulling out of the state of Washington and will soon do the same in California, the latest sign of turbulence at the Portland-based health insurer.

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.

http://www.oregonlive.com/business/..._shut_down_in_two_state.html#incart_big-photo

 

[jlprk]

They need to change their name to something more Anglo-Saxon, like Westminister Health Services, the equivalent of Pomposity Insurance. If they stick with the name Moda, they should develop a radical logo, a hilarious ad campaign, and should steal Flo from Progressive Insurance.

 

[Chris Craig]

Should have never changed names to begin with...I'm sure Geiko center will be next though

 

[Fez Hammersticks]

Daimler are building their HQ north of the Fremont Bridge.

They are a logical choice to take over for Moda.

 

[TBpup]

If that is true, that is a huge waste of more taxpayer money or donations that certainly could have gone elsewhere.

 

[barfo]

Daimler are building their HQ north of the Fremont Bridge.

They are a logical choice to take over for Moda.

I've said it before, but I never get tired of saying it. Honey Bucket needs to step up and buy the naming rights.

barfo

 

[TBpup]

Isn't Alaska Airlines NW Regional?

I will always call it the Rose Garden but with this young group, the Alaska Flight Center sounds like they could bring back 'Rise with Us'.

 

[barfo]

Since OHSU basically paid for the naming rights, maybe it should be Oregon Health and Sciences University Center. That would be plenty confusing.

barfo

 

[TBpup]

Since OHSU basically paid for the naming rights, maybe it should be Oregon Health and Sciences University Center. That would be plenty confusing.

barfo

Switch it around. the Science and Health of Oregon University....Welcome to the Big SHOU!!!

 

[BBert]

Since OHSU basically paid for the naming rights, maybe it should be Oregon Health and Sciences University Center. That would be plenty confusing.

barfo

OH-SUC?