Business Services Industry
Maxicare appeals Board of Claims ruling
Business Wire, April 28, 1997
LOS ANGELES--(BUSINESS WIRE)--April 28, 1997--Maxicare Health Plans Inc. (NASDAQ/NMS:MAXI) Monday announced that the company filed an appeal with the Commonwealth of Pennsylvania Commonwealth Court seeking to overturn the order received by the company on March 31, 1997, from the Commonwealth of Pennsylvania Board of Claims and to award the company damages.
In its order, the Board of Claims ruled that the company is not entitled to any recovery on its claim against the Pennsylvania Department of Public Welfare for in excess of $24 million plus accrued interest, in connection with the operation of a Medicaid managed care program from 1986 through 1989.
Maxicare is a managed health care company with health plans operating in California, Indiana, Illinois, Louisiana, North Carolina, South Carolina and Wisconsin.
CONTACT: Maxicare Health Plans Inc., Los Angeles
Robert J. Landis, 213/765-2205
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