Fox Insurance's $3M Award Over Lost CMS Contract Stands

By Erica Teichert (May 22, 2012, 5:26 PM EDT) -- A Georgia federal judge on Monday upheld a $3.3 million arbitration award for Fox Insurance Co., stemming from the company's battle with a pharmacy benefit manager that caused the insurer to lose its Centers for Medicare and Medicaid Services prescription drug plan contract.

Fox filed the breach of contract and negligence suit against ProCare Pharmacy Benefit Manager Inc. after CMS terminated its Medicare Part D provider contract in March 2010, claiming ProCare's claims processing system caused the CMS issues in the first place.

The $3.3 million arbitration award to Fox included $1.66 million in damages, which U.S. District Judge Thomas W....

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