Overview
What is Consumers Choice Health Insurance Company In Liquidation?
Consumers Choice Health Insurance Company In Liquidation was a nonprofit organization that provided healthcare benefits to its members. Based in Scottsdale, Arizona, the company ceased operations for health insurance coverage on December 31, 2015. Following this, the company entered receivership on January 8, 2016, with covered claims now being handled by the South Carolina Life and Accident and Health Guaranty Association. The entity officially liquidated on February 28, 2023. Despite its closure, Consumers Choice Health Insurance Company In Liquidation contributed to the well-being of its members by offering health insurance coverage during its active period.
Official website here: www.cchpsc.org
Is Consumers Choice Health Insurance Company In Liquidation legitimate?
Consumers Choice Health Insurance Company In Liquidation is a legitimate nonprofit organization registered as a 501(c)(29) entity. Consumers Choice Health Insurance Company In Liquidation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.cchpsc.org
What is the mission statement of Consumers Choice Health Insurance Company In Liquidation?
Consumers Choice Health Insurance Company In Liquidation, prior to its liquidation on February 28, 2023, was dedicated to providing healthcare benefits to its members. The company ceased offering health insurance coverage as of December 31, 2015, and entered receivership on January 8, 2016. Following its liquidation, the South Carolina Life and Accident and Health Guaranty Association has taken over the responsibility of processing and paying out covered claims for the former members of this insurance company. While the company itself is no longer in operation, its former role was to provide health insurance coverage and associated benefits to its members.
Official website here: www.cchpsc.org
Who is the CEO of Consumers Choice Health Insurance Company In Liquidation?
Michael J Fitzgibbons is the Special Deputy Receiver of Consumers Choice Health Insurance Company In Liquidation.
Official website here: www.cchpsc.org
What is the revenue of Consumers Choice Health Insurance Company In Liquidation?
Consumers Choice Health Insurance Company In Liquidation's revenue in 2023 was $345,921.
Official website here: www.cchpsc.org
Who are the executives of Consumers Choice Health Insurance Company In Liquidation and what are their salaries?
There is 1 key member and their salary:
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.cchpsc.org
Where can I find the form 990 for Consumers Choice Health Insurance Company In Liquidation?
Consumers Choice Health Insurance Company In Liquidation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.cchpsc.org
Learn more at the official website: www.cchpsc.org
Mission Statement of Consumers Choice Health Insurance Company In Liquidation
Consumers Choice Health Insurance Company In Liquidation, a former healthcare provider, had a mission to extend healthcare benefits to its members. Despite operating effectively, the company encountered challenges and was eventually placed in receivership on January 8, 2016, following the cessation of health insurance coverage on December 31, 2015. The company's official liquidation took place on February 28, 2023. Post-liquidation, the South Carolina Life and Accident and Health Guaranty Association began processing and settling covered claims on behalf of Consumers Choice Health Insurance Company In Liquidation's previous members. Though the company is no longer in operation, its legacy of providing healthcare benefits to members continues through the payments made by the South Carolina Life and Accident and Health Guaranty Association.
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Impact
October, 2024
The liquidation of Consumers Choice Health Insurance Company significantly impacts its former members and the broader healthcare landscape. Since the company ceased providing health insurance coverage at the end of 2015 and was placed in receivership in early 2016, members were left in a state of uncertainty regarding their healthcare benefits.
As of February 28, 2023, when the company officially liquidated, covered claims began to be addressed by the South Carolina Life and Accident and Health Guaranty Association. This transfer of responsibility may provide some level of financial coverage for claims, but it likely falls short of meeting the full healthcare needs of affected individuals.
Former members may experience disruptions in their healthcare services, including challenges in accessing necessary medical care and prescription medications. The loss of coverage can also lead to increased financial strain as individuals may need to seek new insurance plans, often at higher costs and with different coverage options.
The liquidation also raises concerns about the stability and reliability of health insurance providers, potentially shaking consumer confidence in the industry. This situation highlights the importance of regulatory oversight and the need for transparency in the financial health of health insurance companies. Overall, the winding down of Consumers Choice Health Insurance Company exacerbates existing challenges for its former members and poses broader implications for healthcare access and insurance stability.
This information is meant to be a general summary of Consumers Choice Health Insurance Company In Liquidation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $345,921
- Gross Receipts: $345,921
Assets and Liabilities:
- Total Assets: $0
- Total Liabilities: $451,878
- Net Assets: -$451,878
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ADMINISTRATIVE SERVICE
Organization Details
Founding Year
2011
Phone
(480) 948-4351Principal Officer
Michael J Fitzgibbons
Main Address
8701 VISTA BONITA DR Suite 200, SCOTTSDALE, AZ, 85255
Website
www.cchpsc.orgNTEE Category
Code: Y20 - Mutual benefit
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