Amid Settlement Battle With Regulators, HealthTrust Announces $13.9M Refund

Apr 2, 2014

Offices of HealthTrust, Property-Liability Trust, and the N.H. Municipal Association, all formerly part of the LGC.
Credit Amanda Loder / NHPR

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.