New York fines 20 insurers $716,800 for ‘prompt pay’ violations
New York insurance regulators clamped down on 20 health insurers and HMOs operating in the state by fining them a total of $716,800 for failing to promptly pay claims.
The New York State Insurance Department said the violations of New York’s Prompt Pay Law stemmed from complaint files that were closed by the agency between Oct.1, 2008, and Sept. 30, 2009.
New York’s Prompt Pay Law requires health insurers and HMOs to pay undisputed health insurance claims within 45 days of receipt, ensuring timely payment. By agreeing to pay the fines imposed by the NYSID, the companies acknowledged that they failed to pay certain claims within the state-mandated timeframe, officials noted in a statement.
“The Prompt Pay Law has been extremely effective in ensuring that consumers and health care providers are paid in a timely fashion and it remains an excellent deterrent against entities slow to pay undisputed claims,” New York Insurance Superintendent James J. Wrynn said in the statement.
Insurers and HMOs have paid the state $9.1 million in prompt pay fines since 1998 when the law became effective.
In the latest action, companies and fines included:
Aetna, $25,100
Affinity, $154,000
Amerigroup, $43,500
CIGNA, $57,750
Empire, $31,500
Excellus, $8,000
Fidelis, $7,200
GHI, $68,500
GHI HMO, $2,400
Guardian, $2,600
HealthFirst, $24,900
HealthNet, $13,600
HealthPlus, $9,600
HIP, $54,500
MetroPlus, $3,300
Neighborhood Health, $1,000
NY-Presbyterian, $9,600
Oxford, $31,100
UnitedHealthcare, $159,650
Wellcare, $9,000
Similar Posts:
- GEICO files three suits in N.Y. over suspect no-fault claims
- N.Y. orders life insurers to use death master file
- Medical Mills Help Drive Up Insurance Rates In New York, Questionable Claims For Excessive Treatment On The Rise
- New York Car Insurance
- PA. Insurance Regulators Recover $3.4 Million for Consumers
