State Treasurer Riley Moore today announced his Office’s Unclaimed Property Division returned more than $48,000 worth of unclaimed property to the West Virginia University Medical Corporation, which conducts business as University Health Associates (UHA), and WVU Hospitals, Inc. (WVUH).
“WVU Medicine is one of the leading hospital systems in the state for its innovative approach to patient care and accessibility to West Virginians,” Treasurer Moore said. “I’m delighted when my Office partners with West Virginia businesses to return their lost funds, and I want to encourage everyone to visit our online database at www.WVUnclaimedProperty.gov to search for their unclaimed property.”
The amount of unclaimed property totaled $48,629.61 and was returned to two entities associated with WVU Medicine. WVUH was reunited with $16,341.14 worth of its unclaimed property, and UHA had two separate claims which totaled $32,288.17. The funds were from various vendor checks, refunds and insurance payments turned over to the Office’s Unclaimed Property Division.
This marks the second time this year Treasurer Moore has returned unclaimed property to WVUH. In May, he presented WVUH with an unclaimed property check for $42,976.99.
“A lot of our patients must travel great distances to receive specialized care here in Morgantown,” Michael Grace, Ed.D., president of WVU Hospitals, said. “Many of them face financial hardship, and do not have the means to afford gas and other expenses associated with such travel, including lodging, if they need to stay overnight.
“We appreciate Treasurer Moore and his team for getting these funds back to us, as we will use them to help offset the expense burden often incurred by these patients,” Grace said.
As part of Treasurer Moore’s efforts to modernize the State Treasurer’s Office and efficiently return lost funds to its rightful owners, he recently announced about $4 million worth of unclaimed property is slated to be returned to verified residents next month. Through his new West Virginia Cash Now program, some West Virginians will automatically receive an unclaimed property check this fall without the need to go through the claims paperwork process.
In July, 3,677 notification letters were sent from the Office to verify addresses and notify residents that they should receive their unclaimed property check in October.
Since the new program will not cover all claim types, Treasurer Moore emphasized that individuals should still regularly visit www.WVUnclaimedProperty.gov to search and see if the Office is holding any assets in their name.
What is Unclaimed Property?
Unclaimed property can include financial accounts or items of value in which the owner has not initiated any activity for one year or longer. Common examples include unpaid life insurance benefits, forgotten bank accounts and unused rebate cards. (While the title includes the word “property,” it does not however include real estate.)
West Virginia’s unclaimed property laws protect the public by ensuring money and property owed to them is returned, rather than remaining permanently with financial institutions, business associations, governments and other entities. The Treasurer seeks to reunite the unclaimed property, including uncashed paychecks, stocks, or safe deposit box contents, with its owner.
Nationwide, nearly 33 million people in the United States – one in every 10 – are estimated to have unclaimed property available for them to claim.
How Can I Find Unclaimed Property in My Name?
West Virginians searching for lost financial assets can go to www.WVUnclaimedProperty.gov. In addition to finding property, the website will also help you track a claim.
A demonstration of how to use the Unclaimed Property search site is available on the Treasury’s YouTube page, at: https://youtu.be/K09yQ7YNKlE.
To search for lost financial assets outside West Virginia, visit www.MissingMoney.com.