Oath nearly insolvent
The Oath, an Alabama HMO, is teetering on the brink of insolvency, according to the state insurance commissioner. The Oath said it was worth only $44,323 at the end of June after losing $2 million in the three prior months.
Birmingham News, Sept. 7, 2001
Ohio HMOs keep bleeding
While many HMOs recovered financially during 2000, most weren't in Ohio. That state's HMOs continued to bleed red ink.
Dayton Business Journal (free registration required),
$7 million accounting error puts Colorado Access in red
By Marsha Austin
Denver Post Business Writer
Thursday, September 06, 2001 - Colorado Access, one of the state's largest, and until recently, most profitable Medicaid HMOs, has been further in the red than anyone knew - including its own executives.
Outdated accounting systems missed a $7 million debt against the HMO's 2000 income, and the error wasn't discovered until a few weeks ago, said Colorado Access chief executive Don Hall.
Survey rates New Jersey HMOs below par
While HMOs around the nation made big strides in providing preventive care for their members, New Jersey managed care plans
fell short of the national average in five of seven standards.
Bergen Record, Sept. 7, 2001
Maryland fines health plans a record $1.4 million
Maryland insurance regulators announced a record $1.4 million fine against five healthcare plans, including $850,000 against Aetna U.S. Healthcare, which is a repeat offender.
Washington Post, Sept. 6, 2001
HMO shuffle stresses California state employees
Nearly 150,000 of the 1.2 million enrollees in the California Public Employees Retirement System will have to find new health insurance after insurers dropped out. Retirement system drops four of its 10 plans. Action signals turbulence in managed care.
Los Angeles Times, Sept. 6, 2001