DMHC Fines Dental Plan $40,000

The California Department of Managed Health Care has fined Sacramento-based Access Dental Plan $40,000 for missing a series of financial filings and notifications after its acquisition by Chicago-based First Commonwealth, Inc.

According to DMHC records, First Commonwealth acquired Access Dental in August 2014. It was required to file by Jan. 31 of last year copies of correspondence indicating it had hired new auditors to go over Access Dental's books and whether it had had any disagreements with the prior accountants. It did not file that correspondence with the agency until Dec. 7 of last year.

First Commonwealth also failed to meet deadlines for certified financial statements for Access Dental. The 2015 statement was required to be filed by last April 30, and the 2014 statement was required to be filed by April 30 of last year. It filed the statements 24 days and 224 days past the deadlines, records show.

Access Dental agreed to pay the fine and submit a corrective action plan, records show.

The fine is the largest ever levied against Access Dental and the first against the plan in nearly nine years. It had been fined a total of $29,000 in five actions dating between 2003 and 2007.