Aetna Scraps $120M Class Settlement Of Underpaid Claims

Law360, New York (March 14, 2014, 4:53 PM EDT) -- Aetna Inc. said Friday it has terminated a proposed $120 million class settlement over antitrust and rackeetering claims brought in New Jersey federal court by insurance plan members and health care providers alleging the insurer systematically underpaid claims for out-of-network services.

The life insurance giant notified the court and the plaintiffs’ counsel on Thursday that it was terminating the settlement agreement based on the number of class members who opted out, according to an Aetna regulatory filing with the U.S. Securities and Exchange Commission on Friday....
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