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Business Briefing / Insurance

WellPoint, Cigna settle N.Y. probe

February 18, 2009|TIMES WIRE REPORTS

WellPoint Inc. and Cigna Corp. each agreed to pay about $10 million to settle an investigation by New York into how the insurer reimburses clients for out-of-network services, according to a person familiar with the probe.

They are the latest insurers to agree to fund a new nonprofit database to help determine reasonable and customary charges for reimbursement.

UnitedHealth Group Inc. settled for $50 million, and Aetna Inc. paid $20 million.

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