Health Republic Insurance of New York
Liquidation Administration Website
Liquidation Proceeding and Claims Process
On April 22, 2016, the Superintendent of Financial Services of the State of New York commenced a liquidation proceeding for Health Republic in the Supreme Court of the State of New York. Health Republic consented to the proceeding.
On May 10, 2016, a New York State Supreme Court judge approved a Liquidation Order that authorized the liquidation proceeding and appointed the Superintendent as the Liquidator. The Liquidation Order also directed the Liquidator to take possession and control of Health Republic’s property and assets and to liquidate Health Republic’s business and affairs in accordance with the New York Insurance Law. The Liquidation Order is posted in the Key Legal Documents section of this website.
Based on the information available to date, it is highly unlikely that Health Republic will have sufficient funds to pay any claims against Health Republic other than (1) claims for administrative expenses (i.e., expenses incurred in administering the liquidation proceeding) and (2) a portion of the claims under Health Republic policies submitted by providers and members. Under the New York Insurance Law, administrative expenses and policy claims must be paid in full before any other claimants may receive distributions. With respect to outstanding claims of vendors for services provided or goods sold to Health Republic prior to approval of the Liquidation Order, Health Republic does not anticipate being able to pay. For this reason, vendors should not file claims against Health Republic at this time. Please check this website periodically for updated information on the claims process.
Additional information regarding the liquidation can be found on the Frequently Asked Questions page.