Two south Mississippi hospitals have received more than a half million dollars altogether from the liquidation of a Pearl-based health care insurer accused in 2004 of failing to pay over $800,000 in medical claims.
Gulfport Memorial Hospital has received $482,569 and Singing River Hospital in Pascagoula was given a check for $72,825 as part of the assets recovered in the liquidation of Family Health Care Plus Inc.
Mississippi Insurance Commissioner Mike Chaney delivered the checks last week.
The state requires HMOs to maintain a net worth of at least $1 million. In 2004, Family Health’s net worth was less than $200,000. The company was taken over by the state; Chaney oversaw the liquidation of its assets.
“It’s vital for the Mississippi Legislature to continue providing the funding that allows us to staff qualified financial examiners who were instrumental in uncovering the true financial position of Family Health Care Plus,” Chaney said Tuesday in a news release.
Magnolia Tribune
