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Article: Insurer booted out of Mass. market for deceptive practices
- Article from:
- The Patriot Ledger Quincy, MA
- Article date:
- September 1, 2009
CopyrightCopyright 2009 The Patriot Ledger Quincy, MA. Provided by ProQuest LLC. (Hide copyright information)
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BUSINESS IN BRIEF
Insurer booted out of Mass. market for deceptive practices
BOSTON - A Texas-based health insurer will be forced to leave the
Massachusetts market and pay the state $17 million as part of a
settlement with the attorney general's office to resolve allegations
of deceptive sales practice.
Attorney General Martha Coakley said HealthMarkets Inc. and its
subsidiaries improperly persuaded people to buy coverage with
limited health benefits. HealthMarkets will be banned for at least
five years from selling health insurance in Massachusetts. The
insurer can renew existing customers through 2012 to give them time
to find an alternative plan.
HealthMarkets has about 27,000 customers ...