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New York HMO going under.

20,000 residents of the cities, Nassau and Suffolk in New York are losing their health insurance coverage in May as MDNY Healthcare, an HMO, goes out of business. Melville made the decision based on its financial condition, which in recent years has deteriorated rapidly resulting in fines from the

New York Insurance Department for failure to pay claims promptly. MDNY was founded by a group of Long Island doctors in 1995.

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