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Insurance Agency To Close at St. Francis Medical Center

A local hospital may be taking extra measures to alleviate financial difficulties seen across the healthcare system.

MONROE -- A local hospital is looking to take extra measures to alleviate financial difficulties seen across the healthcare system.

Officials with St. Francis Medical Center confirmed that they have decided to close the St. Francis Insurance Agency.

An employee, who wants to remain anonymous, made KTVE/KARD aware of the closure, which they were told would be effective July 31st.

The agency has been in business for 20 years.

Eight agents total could lose their jobs, according to the source. But St. Francis officials say two employees will be affected.

St. Francis representatives released this statement Friday evening:

"St. Francis Insurance Agency has been challenged for some time due to increasing competition and market options, and we have decided to wind down its operations in order to redeploy resources to other community services. We are aware of the potential concern by policyholders as well as the impact on the agency’s two employees, who have provided a valuable service to policy holders. It’s important to know that insurance coverage remains intact for anyone with policies purchased through St. Francis Insurance Agency. Nothing changes for those individuals. Formal correspondence with policyholders is in progress. The two employees affected will be given priority for reassignment to other areas in the organization if at all possible."
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