Amid Settlement Battle With Regulators, HealthTrust Announces $13.9M Refund
Communities that carry HealthTrust insurance for public workers could split $13.9 million following a vote by the program’s board of directors. In an announcement late Tuesday afternoon, HealthTrust noted that the refund was bigger than expected. The money comes from another risk pool, Property-Liability Trust.
Both programs were once part of the old Local Government Center, and have been in a long legal battle with the state. Recently, the State Supreme Court upheld an order that the property program return $17.1 million in illegal subsidies to HealthTrust.
But in a secret settlement, HealthTrust agreed to take less money. State regulators strongly objected, and filed a motion to strip the risk pool of its non-profit status.
In Tuesday’s announcement, Health Trust said the $13.9 million refund was contingent on the approval of the Bureau of Securities Regulation.