YoungInsurer has agreed to sell insurance products to people who have pre-conditions.
The company announced the decision Thursday, a day after it announced it was closing its Houston office and suspending plans to expand in the city.
YoungInsurance said it would no longer offer insurance products that cover pre-existing conditions, including people with certain chronic conditions.
The decision comes as the insurance industry struggles with rising premiums and rising rates of people who buy coverage without any medical conditions.
Youngs insurance, which is based in Texas, said in a statement that it would “immediately terminate all existing plans and terminate all new coverage for existing customers and will continue to work with the Department of Insurance and the Texas Health Resources Board to provide the same coverage to our existing customers.”
The announcement comes after the U.S. House of Representatives passed legislation last week that would require insurance companies to provide insurance to those with pre-, moderate- and severe-risk conditions.
The legislation would also allow states to impose limits on what insurers can charge people with conditions.