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Health Net will pay N.J. penalties

August 27, 2008|From Times Wire Services

Health Net Inc. agreed to pay a $13-million fine and $28 million in other penalties for a decade of underpaying New Jersey subscribers' out-of-network claims.

The insurer, based in Woodland Hills, waived its right to a hearing on the charge, the New Jersey Department of Banking and Insurance said. Health Net of New Jersey paid $26 million in restitution and interest to compensate 88,000 subscribers for "dramatically underpaid claims," the department said.

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