Canopy Financial 'Fesses Up
Court documents filed with Canopy's Chapter 7 bankruptcy today show that the company owes nearly $26 million -- most of it to holders of Health Savings Accounts that were managed by Canopy or one of its partners. The difference between what Canopy thought was in the accounts and what remained there as of November 30 is nearly $20 million. Thousands of accounts are affected -- the documents show that 13,697 accounts, with a balance of more than $17 million, were held by Coventry Health Care. Coventry is reimbursing its account holders and has filed a claim to get the money back from Canopy. Other account holders include Dewitt Stern, FlexRight, ISU Financial Services, Shawnee Administrative Services, Veritas Health Systems Administrators and Canopy itself, through its Wellfund program. Account holders may have a tough time getting their money back, though,
