Aetna to Settle Federal Case for $120 Million

Insurance giant Aetna Inc. agreed to pay up to $120 million in a proposed settlement stemming from a federal class-action suit over reimbursement of out-of-network health insurance claims.

The Associated Press (AP) reports that the class-action suit filed in federal court in New Jersey alleged that Aetna lowered data the company provided to a database used to help calculate payment rates for care received outside its network of health care providers. Patients and doctors alleged that this allowed the insurer to underpay claims from out-of-network providers.

Aetna did not admit to any wrongdoing. The company said that the proposed settlement includes claims calculated using that database and other methods.

Aetna will pay the settlement in two parts: $60 million upon final court approval of the deal and as much as $60 million more after claims are submitted and authenticated, reports AP.

If you or a loved one has been wronged by consumer fraud, contact Sokolove Law today for a free legal consultation and to find out if a consumer fraud lawyer may be able to help you.

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