The Oregon Department of Consumer and Business Services accused Portland-based Zoom Management, the parent company of Zoom Health Plan, of leading the department to think the management company was going to infuse $3 million into Zoom Health Plan by the end of 2016. However, the state claims Zoom Management never sent the money to its health plan.
Zoom Health posted capital and a surplus of nearly $2.9 million in its 2016 financial reporting to Oregon officials, which includes the $3 million infusion state health department officials allege the plan never received. According to the state’s complaint filed in Marion County Circuit Court, Oregon alleged Zoom Health’s “representation that it was solvent and had capital and surplus of $2,873,168 was false, because that figure improperly accounted for the $3 million in Surplus Note funding that has never been received.”
Lisa Morawski, a spokesperson for the department, said unnamed federal agencies have interviewed Zoom staff as part of the investigation, the report states.
Zoom spokesperson Len Bergstein declined The Oregonian‘s request for comment and said he was “not aware of the details.”
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