Regulators Conclude Monitoring of Process Improvements at UnitedHealthcare
|Targeted News Service|
Members of the
In 2007, the company reached a Regulatory Settlement Agreement with insurance regulators who oversee 26 entities owned by UnitedHealthcare in 41 jurisdictions to address past practices regarding timely payment of claims by the national health insurer. The company agreed to a plan that emphasized compliance, collaboration, innovation and continuous improvements that maximize performance for consumers and health care providers. The agreement included minimum standards against which UnitedHealthcare's performance would be measured in real time, escalating penalties for non-attainment, the payment of restitution when appropriate, and extensive assessment by an independent examiner. A final report concludes UnitedHealthcare has met all metrics and compliance benchmarks set out under the settlement agreement.
Lead regulators from
"The course of action was guided by the principles of our state-based system of insurance regulation and was intended to foster regulatory coordination and efficiency through a framework for overall and sustained improvement," said
"By employing forward-looking methods to improve UnitedHealthcare's regulatory performance, members of the NAIC have successfully illustrated how state-based regulation can drive performance improvement for a national insurer," added
Click HERE (http://www.naic.org/documents/united_healthcare_report.pdf) to view the final report.
TNS 61RiaMontes 130118-4172780 StaffFurigay
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