PENN TREATY PLUS INC

What they do

PENN TREATY PLUS is ORGANIZED to PROMOTE SOCIAL WELFARE BY (I) PROVIDING LONG TERM CARE and OTHER HEALTH CARE BENEFITS to A BROAD GROUP of INDIVIDUALS CONSISTING of CURRENT or FORMER POLICYHOLDERS of PENN TREATY NETWORK AMERICA INSURANCE COMPANY and AMERICAN NETWORK INSURANCE COMPANY, EACH A PENNSYLVANIA DOMICILED INSURANCE COMPANY (COLLECTIVELY THE "COMPANIES") WHOSE POLICIES HAVE BEEN or WILL BE CANCELLED PURSUANT to THE COMPANIES RECEIVERSHIPS (THE "POLICYHOLDERS"), and AS A RESULT of SUCH CANCELLATION, THE POLICYHOLDERS WILL BE LEFT WITHOUT THE FULL SCOPE of THE BENEFITS THAT WOULD HAVE BEEN PROVIDED UNDER THEIR POLICIES to THE EXTENT THEIR BENEFITS WILL NOT BE COVERED BY A STATES GUARANTY ASSOCIATION, I.E. UNCOVERED BENEFITS and (II) POTENTIALLY SERVING AS THE GRANTOR of A GRANTOR TRUST ESTABLISHED WITH ASSETS FROM THE COMPANIES to COVER EXPENSES and CONTINGENCIES to BE INCURRED IN WINDING DOWN and ULTIMATELY DISSOLVING THE COMPANIES and DISTRIBUTING ANY REMAINING ASSETS.