Calif. Department of Managed Health Care Fines Contra Costa County Health Plan $210K
The state Department of Managed Health Care has fined Contra Costa County Health Plan $210,000 for failing to meet tangible net equity requirements -- the amount of assets on hand relative to the risk the plan takes on -- nine times from 2002 through 2010. DMHC will waive $150,000 from the fine if the Medi-Cal managed care plan files timely financial reports for the next two years and maintains 130% of the minimum tangible equity, as well as $2 million for the next year. Medi-Cal is the state's Medicaid program.
- "DMHC Fines Contra Costa Health Plan" (Payers & Providers, 10/23).