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Connecticut Seeks Approval to Close Books on Failed Health Plan.
Knight Ridder/Tribune Business News, April, 2004
By Diane Levick, The Hartford Courant, Conn. Knight Ridder/Tribune Business News
Apr. 15--Connecticut regulators are seeking court approval to close the books on a failed HMO -- Suburban Health Plan -- and distribute a final $2 million to doctors and health care facilities that served its members.
Founded in 1987, Shelton-based Suburban peaked at about 12,000 members in 1997, but terminated business in early 1999.
The health plan, a subsidiary of the same company that owns Griffin Hospital in Derby, had lost nearly $10 million in five years. The HMO had spent money on trying to grow enrollment, but wasn't big enough to command the kinds of discounts from health care providers that larger health plans could.
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