Article: Insurer booted out of Mass. market for deceptive practices

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 ...

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