On December 1, 2008, an order for rehabilitation was entered by an Indiana court against Medical Savings Insurance Company (MSIC), an Indiana domestic health insurer, commencing voluntary rehabilitation proceedings. MSIC’s business consisted primarily of high-deductible health insurance policies, many of which were coupled with health savings accounts. Some of the policies also included term life riders. In accordance with a court approved transition plan, the majority of the business was voluntarily terminated on or before December 31, 2008, and rewritten by Golden Rule Insurance Company (“GRIC”), a health insurer and member of the UnitedHealthcare family of companies, whose product line includes high-deductible health insurance policies for individuals and their families. MSIC was ordered into liquidation on February 26, 2009. Policy administration for the limited in-force block will continue pending cancellation of the remaining business.
MSIC was licensed in 35 states, including Alabama, Alaska, Arizona, Arkansas, California, Colorado, District of Columbia, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Mississippi, Missouri, Montana, Nebraska, Nevada, New Mexico, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, Washington, and West Virginia.
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Guaranty association coverage is coordinated on a state-by-state basis, with coverage usually being provided by the association in your state of residence, regardless of where you purchased your policy. Policyholders should contact their state guaranty association with any questions they have about their policies. The drop-down menu below will take you to your state association's Web site, which provides answers to frequently asked questions and contact information.
Policyholder questions may be directed to Medical Savings Insurance Company (In Liquidation) at 800.589.8911.
If you are unsure whom to contact with your questions, please e-mail us here, and we will forward your message to the appropriate party.
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NAIC Number: 74217A
An NAIC number is a five-digit number assigned to every insurance company by the NAIC (National Association of Insurance Commissioners). Because each company has its own unique number, the NAIC number can be used to identify a particular company.
Domiciliary State: Indiana
The domiciliary state is the state in which an insurance company is incorporated or organized.
Rehabilitation Date: December 01, 2008
Liquidation Date: February 26, 2009
Estate Closed: October 07, 2015
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