Division of Rehabilitation and Liquidation
Why is the Receiver returning previously paid assessments?
As a direct result of asset recovery efforts in this estate, the Receiver is now able to refund amounts collected from 1999 and 2003 Caduceus Self Insurance Fund's assessments plus any interest levied against and paid by former members.
How much of the total assessment is being refunded to previous fund members?
On December 21, 2007, the Receiver refunded $11,000,000.20 to Caduceus fund members who had paid either a portion or the entirety of the levied assessments. This $11,000,000.20 refund represented 73.3424% of the $14,998,140 in assessment principal and interest previously collected from fund members.
On December 23, 2009, the Receiver refunded $3,998,139.80 to Caduceus fund members who had paid either a portion or the entirety of the levied assessments. This $3,998,139.80 refund represented the remaining 26.6576% of the $14,998,140 in assessment principal and interest previously collected from fund members.
How was the amount of my refund determined?
The actual amount of assessment funds to be returned to the individual assessees will be based upon a report by the actuaries who prepared the original assessment report. The actuaries reexamined the assessment calculations with the goal of determining a fair, equitable, actuarially sound formula and process for returning some portion of the assessment funds. The amounts returned to the individual former members of Caduceus is based on the portion of the 1999 and 2003 Caduceus assessments plus any interest levied against and paid by the former policyholder.
Where can I get a copy of the court order or other documents concerning calculation of the assessment return?
The motion and court order approving the return of assessments funds along with a spreadsheet indicating how the amounts were calculated are posted within this website under Caduceus - Related Documents. Members will need their policy number in order to look up their calculation.
I disagree with the amount that the actuary's report credits to me and think that I deserve a different amount than was mailed to me. What do I do?
If you have a dispute concerning the amount credited as having been paid by you toward the 1999 and 2003 assessments, please mail the Receiver a letter detailing your concerns and be sure to include any documentation supporting your claim. The Receiver will examine each dispute on an individual basis.
Why did I get more than one check for return of assessment funds?
Each check represents a return of assessment funds on an individual policy. If you received more that one check, you previously had more than one policy with Caduceus and paid assessment amounts on each policy.
When were the assessments previously billed to Caduceus fund members?
There were two previous assessments. The first one was done in 1999 by the management of Caduceus and the second one was done in 2003 by the Receiver of Caduceus.
Will I receive any additional returns of assessment funds in the future?
No. The Receiver has now refunded 100% of the two previous assessments done in 1999 (by the management of Caduceus) and 2003 (by the Receiver of Caduceus).
For questions or comments regarding this website, please click here.