Last week, The Lever’s Matthew Cunningham-Cook reported on how the private-equity backed health insurer Friday Health Plans imploded amid Wall Street greed, corporate health care consolidation, and lax government oversight.
The collapse left 30,000 Colorado policyholders, and many more in other states, scrambling to find new coverage and wiping out nearly all payments they had made towards their annual deductibles and out-of-pocket maximums. And Friday’s breakdown is just one example among several.
When we report on developments like this, we try to put a human face on the cost of corporate and government malfeasance. In this case, we had the perfect story to illustrate the dangers of Wall Street getting into health insurance — but for journalistic reasons, we couldn’t include it.
That story was my own.