Author Topic: Insurance Co Out of Business  (Read 1405 times)

AdvancedSpine

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Insurance Co Out of Business
« on: March 22, 2011, 03:12:03 PM »
Has anyone experienced this before?  Seminole Casualty went out of business so they have referred me to the state CFO website for all my pending PIP claims.  I'm trying to find out how to do it right now but, do I have any chance of recovering anything? or should I just wait until the settlement.  The patient tells me she is still paying her premiums.

EDIT: I found out a bit more from the CFO, typically the FIGA ( FL Insurance Guarante Assoc) takes over payments.  They receive all files from the Insurer and mail us vouchers.  My boss is still telling me thay they will probably take a long time and pay us cents on the dollar so.  I'm still wondering if anyone has any input and if the balance I can get from the settlement.  Thanks.
« Last Edit: March 22, 2011, 04:40:28 PM by AdvancedSpine »

PMRNC

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Re: Insurance Co Out of Business
« Reply #1 on: March 23, 2011, 06:42:29 AM »
Yes, small TPA's have filed bankruptcy in the past and you are stuck with sometimes NOTHING and others with settlement amounts. It's only happened to me once a long time ago.
Linda Walker
Practice Managers Resource & Networking Community
One Stop Resources, Education and Networking for Medical Billers
www.billerswebsite.com

AdvancedSpine

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Re: Insurance Co Out of Business
« Reply #2 on: March 29, 2011, 12:37:34 PM »
 :-\  ty Linda!