Aetna Reaches $120M Deal To Settle Underpayment Claims

Law360, New York (December 7, 2012, 3:20 PM EST) -- Aetna Inc. has agreed to pay up to $120 million to settle an antitrust and racketeering multidistrict litigation in New Jersey federal court brought by plan members and health care providers accusing the insurer of systematically underpaying claims for out-of-network services, the company said Thursday.

Aetna said it will pay $60 million upon final approval of the settlement by a New Jersey district court judge, followed by additional payments of up to $60 million at the end of a claim submission and validation period, according to...
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