A South Carolina insurance company has declared bankruptcy, stranding thousands of health providers statewide with an estimated million in unpaid claims for services already provided, a contractor responsible for liquidating the firm's assets said Friday.
And consumers who still have policies with the company now must pay higher premiums or, in some cases, premiums for the first time.
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The bankruptcy of Guardian Healthcare, which offered Medicare Advantage policies in every county through December, is among the biggest bankruptcy filings involving a South Carolina health insurance company in state history, said Andrea Bowers, the independent contractor responsible for liquidating Guardian's assets.
The company has an estimated million in assets, Bowers said.
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