The Greater New York Hospital Association says it’s still talking to member hospitals to find out how much a failed carrier, Health Republic Insurance of New York, owes them.
But Kenneth Raske, president of the association, said last week in a letter to member hospitals that the nonprofit, member-owned Consumer Operated and Oriented Plan (CO-OP) carrier owes the hospitals at least $142 million and probably owes them more than $150 million.
New York state regulators have put the carrier in the hands of a chief restructuring officer and are planning for it to shut down Nov. 30.
The carrier said earlier this year that it had about 215,000 enrollees. If it owes about $150 million to hospitals, that would mean that it has an average of $700 in hospital claim obligations per enrollee.
The total does not include obligations to physicians or independent clinics.
The carrier owes several hospitals more than $10 million each, Raske wrote in the letter.