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Jun 18, 2012

WellPoint settles class action with Anthem policyholders for $90 million
 

WellPoint, the nation’s second-largest health insurer, announced Friday the surprise settlement of a class action lawsuit alleging that the company’s “Anthem subsidiary underpaid policyholders who opted to receive cash instead of stock when the Blue Cross-Blue Shield franchisee converted in 2001 into a stock company,” the Indianapolis Star reports. In the settlement with more than 700,000 former Anthem policyholders, WellPoint has agreed to pay $90 million. Had the case gone to trial, “claims could have run into the hundreds of millions of dollars,” the article said. For more, read the full story.


 
Posted by A. Sharett  in  Insurance Industry   Settlements  

 

 

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