Latest Insurance industry News

N. Carolina woman accused of forging insurance claim forms

Dec. 03, 2021 08:42 AM EST

RALEIGH, N.C. (AP) — Authorities have arrested a North Carolina woman and accused her of forging bills and claim forms to get more than $70,000 from an insurance company, the N.C. Department of Insurance said. Insurance Commissioner Mike Causey says special agents with...

Nevada jury says health insurer undercut ER reimbursements

Dec. 01, 2021 19:27 PM EST

LAS VEGAS (AP) — A jury in Nevada has found one of the nation’s largest health insurers liable for underpaying millions of dollars to out-of-network emergency medical providers in what plaintiffs’ attorneys argued was a systematic bid to boost company profits. The...

Lawmakers outline insurance complaints after Hurricane Ida

Dec. 01, 2021 15:47 PM EST

BATON ROUGE, La. (AP) — Slow responses to damage claims. Constant switch-ups of insurance adjusters assessing the destruction. Low payment offers forcing people unnecessarily into litigation to get a fair deal. Louisiana lawmakers and others said Wednesday that those...

Pharmacy marketer gets 30 months in health care fraud scam

Dec. 01, 2021 12:40 PM EST

JACKSON, Miss. (AP) — A pharmacy marketer has been sentenced to 30 months in prison for his role in a scheme to defraud a military health care program and private insurance companies, federal prosecutors said. Thomas Wilburn Shoemaker, 57, of Rayville, Louisiana, was...

Judge OKs $5.4M settlement over Transamerica retirement plan

Nov. 23, 2021 18:30 PM EST

A federal judge has approved a $5.4 million settlement between Transamerica and its current and former employees who accused the company of offering several poor performing investments in its employee retirement plan. The money will be divided up between roughly 24,000...

Liz Weston: 3 times you need money advice from a human

Nov. 22, 2021 08:19 AM EST

You can now manage most aspects of your money without ever consulting another human being. You can budget, borrow, save, invest, buy insurance, prepare your tax return and create a will — among many other tasks — by using apps, websites and software. But technology...

Kansas to phase out some free testing for COVID-19 next year

Nov. 19, 2021 18:01 PM EST

TOPEKA, Kan. (AP) — Kansas will start next year to require employers, individuals and health insurance companies to pay some costs associated with COVID-19 testing. The state Department of Health and Environment announced Friday that it will start phasing out free...

Court largely upholds North Dakota law regulating PBMs

Nov. 19, 2021 14:19 PM EST

BISMARCK, N.D. (AP) — A federal appeals court has largely upheld a North Dakota law aimed at regulating companies that are hired to hold down prescription costs for insurers and employers. A three-judge panel of the 8th U.S. Circuit Court of Appeals ruled on Wednesday,...

CVS Health to close hundreds of drugstores over next 3 years

Nov. 18, 2021 15:47 PM EST

CVS Health will close hundreds of drugstores over the next three years, as the health care giant adjusts to changing customer needs and converts to new store formats. The company said Thursday that it will close about 300 stores a year for the next three years, nearly a...

Audit: Michigan unemployment error overpaid $3.9 billion

Nov. 18, 2021 15:06 PM EST

LANSING, Mich. (AP) — Shortcomings in the Michigan Unemployment Insurance Agency Office caused $3.9 billion in overpayments during the processing 5.4 million unemployment claims amid the COVID-19 pandemic, according to a state audit released Thursday. The agency's...