SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) March 31, 1997
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MAXICARE HEALTH PLANS, INC.
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(Exact name of registrant as specified in its charter)
Delaware 0-12024 95-3615709
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(State or other jurisdiction (Commission (IRS Employer
of incorporation or File Number) Identification No.)
organization)
1149 South Broadway Street, Los Angeles, California 90015
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (213) 765-2000
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Item 5. Other Events.
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Maxicare Health Plans, Inc. (the "Company") reported that
it received on March 31, 1997 a ruling from the
Commonwealth of Pennsylvania Board of Claims. The Board
of Claims ruled that the Company is not entitled to any
recovery on its claim against the Pennsylvania Department
of Public Welfare ("DPW") for in excess of $24 million
plus accrued interest, in connection with the operation of
a Medicaid managed care program from 1986 through 1989.
The Company is reviewing the Board of Claims' findings and
order and is evaluating its options, including the effect
of the order on the Company's recorded estimate of amounts
due the Company from the DPW.
Item 7. Financial Statements, Pro Forma Financial Information and
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Exhibits
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(a) Financial Statements of Businesses Acquired.
None.
(b) Pro Forma Financial Information.
None.
(c) Exhibits.
Exhibit No. 99.2 Press release re Board of Claims
Ruling
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned hereunto duly authorized.
Maxicare Health Plans, Inc.
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(Registrant)
April 1, 1997 /s/ EUGENE L. FROELICH
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Eugene L. Froelich
Chief Financial Officer
and Executive Vice President -
Finance and Administration
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Exhibit 99.2
BOARD OF CLAIMS RULES AGAINST MAXICARE
LOS ANGELES, APRIL 1, 1997---- MAXICARE HEALTH PLANS, INC. (NASDAQ
- - NMS:MAXI) announced today that the Company received on March 31,
1997 a ruling from the Commonwealth of Pennsylvania Board of
Claims. The Board of Claims ruled that the Company is not entitled
to any recovery on its claim against the Pennsylvania Department of
Public Welfare ("DPW") for in excess of $24 million plus accrued
interest, in connection with the operation of a Medicaid managed
care program from 1986 through 1989. The Company is reviewing the
Board of Claims' findings and order and is evaluating its options,
including the effect of the order on the Company's recorded
estimate of amounts due the Company from the DPW.
Maxicare is a managed health care company with health plans
operating in California, Indiana, Illinois, Louisiana, North
Carolina, South Carolina and Wisconsin.
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