|Name of Company:||SunCoast Physicians Health Plan, Inc.|
|Date of Liquidation:||August 10, 2007|
|Policy Cancellation Date:||August 11, 2007|
|Claims Filing Deadline:||August 11, 2008|
|date of discharge:||March 31, 2014|
|Type of Coverage:||Health Maintenance Organization|
|State of Domicile:||Florida|
|Status of Receivership:||Closed|
Notice of Receivership
On August 10, 2007, SunCoast Physicians Health Plan, Inc., (“SunCoast”) was ordered into receivership for purposes of liquidation by the Second Judicial Circuit Court (”Court”) in Tallahassee, Florida. The Florida Department of Financial Services is the Court-appointed Receiver of SunCoast.
SunCoast was a health maintenance organization that obtained its Florida license in July 2005 and began operations in January 2006. Headquartered in Weston, Florida, the Medicare only HMO had approximately 700 Medicare subscribers. Medicare premiums and contracts are administered through a federal agency, the Centers for Medicare and Medicaid Services (“CMS”).
Claim Evaluation and Distributions
On February 8, 2011, the First Interim Claims Report was filed with the Court in the estate of SunCoast. On February 9, 2011, the Court issued an order approving the report. The First Interim Claims Report addresses claims filed in Classes 2, 4, 5, 6, 7 and 10. Only claims in Classes 2, 4, 5 and 6 were evaluated due to limited assets in the estate. The Receiver does not anticipate a distribution to any claimants beyond Class 6. On March 1, 2011, Notices of Determination ("Notices") were mailed to the 1,944 claimants that filed a claim in the estate. The Notice informed them of the Receiver's recommendations concerning the classification and amount of their claim, along with instructions on how to proceed if a claimant objected to the recommendations. Objections are required to be filed by the claimant, in writing, with both the Court and the Receiver and postmarked by April 29, 2011. Objections filed after that date were not considered.
On December 11, 2013, the Receiver mailed 502 distribution checks in the amount of $757,059.50 to all Class 6 claimants. This represents a 22.5% distribution of the recommended claim amount for these claims. The Receiver does not antipate further distributions from this estate.
On March 12, 2014, the Court approved an order, to be effective March 31, 20134, discharging the Receiver from any further responsibilities regarding Sunrise Physicians Health Plan, Inc. and closing the estate. The total amount of funds distributed to claimants over the life of the estate was $805,897.49.