Two of California’s largest health plans will pay a combined $13 million in fines to resolve investigations by state insurance regulators. Under the agreement, Anthem Blue Cross and Blue Shield will also reinstate coverage for more than 2,000 policyholders whose coverage was wrongly rescinded during the past four years. Neither company admitted any wrongdoing as part of the agreement.
The agreements bring to a close the department’s industrywide investigation into the problems of rescission that were brought to light in a series of articles in The L.A. Times. The problem affects individual policies, the type of coverage consumers without access to employer-sponsored group health benefits purchase on their own. About 14 million Americans, including 3 million Californians, rely on this type of coverage.
You can read more HERE in the L.A. Times.
