JUNEAU, Alaska (AP) - Insurance regulators say they have lifted the suspension of an Oregon-based company to again offer health insurance policies in Alaska and Oregon.

The Alaska Division of Insurance and the Oregon Department of Consumer and Business Services announced Monday that they've reached an agreement with Moda Health Plan Inc.

The Division of Insurance says it will allow Moda to again renew policies and sell new policies to both individual and group customers in Alaska and Oregon.

Both states late last month suspended Moda from accepting new or renewal policies, citing concerns with the company's financial situation.

In a release Monday, Alaska officials said both states came to an agreement with Moda over the weekend that outlines a plan for the company to stabilize its financial position and continue to offer coverage.

More top stories:

Vigil held for fallen Seaside Sgt. Jason Goodding

WATCH: Massive flood hits Ore. 20 years ago today

Did Marshawn Lynch announce his retirement on Twitter?

Portland ties record high on Sunday, more warm days ahead

Follow us on Facebook for the latest breaking news updates.

Watch live or check weather & traffic updates on the go with the KGW News app.