Maxicare Unit For Sale: Insurance regulators in...
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Maxicare Unit For Sale: Insurance regulators in Illinois, Indiana and Ohio agreed to suspend a planned challenge to the health maintenance organization’s Chapter 11 bankruptcy proceeding in Santa Ana federal court pending an attempt to place Maxicare Midwest’s 250,000 subscribers with another HMO. The commissioners gave Inglewood-based Maxicare until Monday to place the unit’s current enrollees, reasoning that the income would help pay current claims. But they reserved the right to dispute the court’s jurisdiction unless agreement is reached with them on a plan to pay off all pending claims of enrollees and providers, said James Schacht, Illinois’ chief deputy insurance director.
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