Florida Attorney General Bill McCollum says his office has launched a formal investigation into a company selling insurance-like products to seniors in Florida, but failing to pay for services.
McCollum simultaneously issued a consumer alert, warning Floridians about the business practices employed by Homeward Bound, a Pennsylvania-based company already banned from selling its products in Pennsylvania and Wisconsin.
Homeward Bound targets senior citizens, selling policies with waiting periods of six months to a year. The policies are intended to pay for a specified number of hours contracted for assistance services, including cleaning, meal preparation and basic care services.
Although the company has been selling policies in Florida since 2004, it has routinely failed to pay for the promised services.
The Attorney Generals Economic Crimes Division launched the investigation after receiving complaints from several health care providers. The investigation also includes Personalized Home Services, a company with similar business practices and some common ownership with Homeward Bound.
