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Friday, August 10, 2012
OKLAHOMA CITY–Health care providers across Oklahoma will be receiving checks worth more than $15.3 million this month, Oklahoma Insurance Commissioner John D. Doak announced today. The funds are actual damages owed by the defunct AmCare Health Plans of Oklahoma, Inc., a health maintenance organization (HMO).
“This is great news for Oklahoma hospitals and medical providers,” Doak said. “They were left holding the bag when this company failed to pay hundreds of claims. Now, finally, these claims will be paid in full.”
Commissioner Doak plans to visit many of the involved health care providers to personally thank top executives for their patience, dedication and service to their communities.
Oklahoma, Texas and Louisiana filed suit against AmCare Health Plans after it was placed in receivership in 2003. The company ceased operations in Oklahoma on Oct. 1, 2002. Investigators found AmCare was severely undercapitalized and was manipulating its financial records by moving assets back and forth between sister companies in an attempt to appear solvent.
“AmCare had no intention of paying its claims,” Doak explained. “This was a purely financial move on their part and we won’t stand for it. I refuse to let Oklahoma taxpayers foot the bill for companies’ mistakes.”
The checks, administered through the Oklahoma Receivership Office, will complete principal payments to the affected providers. In 2006, the Oklahoma Insurance Department successfully petitioned the court for an early distribution of approximately $8.8 million.
About the Oklahoma Insurance Department
The Oklahoma Insurance Department, an agency of the State of Oklahoma, is responsible for the education and protection of the insurance-buying public and for oversight of the insurance industry in the state.
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