UnitedHealth is off the hook. Insurance regulators are no longer monitoring its claims payment practices after they concluded the nation's largest insurer has met all requirements under a settlement agreement.
Insurance regulators in 41 jurisdictions, led by insurance commissioners in Arkansas, Connecticut, Florida, Iowa and New York, began monitoring UnitedHealth after doctors complained it wasn't paying claims or handling claim decision appeals in a timely manner, LifeHealthPro reported.
UnitedHealth and the insurance regulators in 2007 reached a settlement agreement, which required the insurer to pay more than $14 million to the National Association of Insurance Commissioners and undergo a monitoring program from 2008 to 2010, reported Reuters.
The NAIC released a report Friday saying UnitedHealth met or exceeded each requirement; therefore, the review was concluded and the insurer wasn't liable for additional penalties.
Some of the benchmarks UnitedHealth was required to meet included handling 97 percent of claims accurately and 96 percent of claims in a timely fashion, while also reducing insurance department complaints upheld to 35 percent, LifeHealthPro noted.
To learn more:
- here's the NAIC report
- read the Reuters article
- see the LifeHealthPro article