Cuomo Tells 11 Insurers To Refund $114.5M To Customers

Law360, New York (November 9, 2011, 3:29 PM EST) -- New York Gov. Andrew Cuomo has ordered 11 health insurers including Aetna Health Inc. to refund $114.5 million to policyholders they overcharged in 2010, his office said Wednesday, also revealing the state has finalized plans to make rate filings public.

New York state's law mandates that health insurance companies either spend 82 cents of every dollar on medical care or refund the difference to consumers if they don't, Cuomo said.

“In this economic climate, every penny counts, and in this case, insurance companies were overcharging New...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.