Health Markets Fined $20 Million

moonlightandmargaritas · 07-22-2008, 08:22 AM

HealthMarkets fined $20 million after multistate investigation - USATODAY.com

Dave020 · 07-22-2008, 11:37 AM

"HealthMarkets, owned by three private-equity firms including the Blackstone Group, has about 612,000 policyholders in 44 states through its subsidiaries: Mega Life and Health Insurance, Mid-West National Life Insurance and Chesapeake Life Insurance. "

I found this amazing. That is a very small total book of business for any carrier. Not even 1 million total nationwide. Wow!

moonlightandmargaritas · 07-22-2008, 11:43 AM

Also buried in the article: a $12 million fine for UHC...

InsuranceBenefitsGroup · 07-23-2008, 04:38 PM

Amazing. $20M for fraud, $12M for a screwed up billing system! This never affected my 1000's of GR/UHC clients, must have been with their group/medicare blocks?

healthagent · 07-24-2008, 08:20 PM

AM Best just nailed 'em

A.M. Best Downgrades Ratings of HealthMarkets, Inc. and Its Subsidiaries - MarketWatch

chp · 07-24-2008, 10:36 PM

I know they are losing agents left and right. I just found out about a good district manager leaving from my old office, and the office I used to work in is writing very low production.

HomeService · 07-25-2008, 02:17 PM

I still hear the nationwide radio ads out there.
you have heard them I am sure...

" affordable health insurance for the self employed"

HomeService · 07-25-2008, 02:21 PM

when does torchmark get nailed for the UA stuff that goes on, which sounds similar to this.