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Aetna Fined $1M Over Pharmacy Network Errors

Law360, New York (April 7, 2015, 3:29 PM EDT) -- The Centers for Medicare and Medicaid Services has slapped Aetna Inc. with a $1 million penalty for misleading thousands of consumers about pharmacy networks, a mishap that helped the insurance giant rack up one of the highest complaint rates this year in Medicare Advantage and Part D, according to recent correspondence.

The discipline, which was disclosed in a letter that CMS quietly posted online on Friday, represents one of the largest so-called civil monetary penalties that the agency has dished out in recent years for compliance issues related to private Medicare coverage. 

According to the letter, Aetna in recent months falsely...

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