Georgia's insurance department has fined Anthem/Blue Cross Blue Shield$5 million for several violations of state law following a months-long investigation.
"This examination uncovered a number of serious issues, including improper claims settlement practices, violations of the Prompt Pay Act, failure to reply to consumer complaints in a timely manner, inaccurate provider directories, and significant delays in loading provider contracts," state Insurance and Safety Fire Commissioner John King said Tuesday.
"As a result, our office has issued the largest fine in agency history, with potential additional penalties if certain benchmarks are not reached."
To avoid additional fines, Blue Cross Blue Shield must develop a new process for handling provider complaints, pay claims within the time frames established under state law, and load provider contracts in a timely manner.
In a statement responding to the state's action, Anthem Blue Cross Blue Shield said the company has worked "diligently" to make changes since the investigation was completed.
"We have since migrated to a new platform with the goal of improving accuracy and transparency," the statement read. "We are dedicated to those we serve and partner with, and we believe the recent enhancements we have made will create an improved overall care provider experience."
This story is available through a news partnership with Capitol Beat News Service, a project of the Georgia Press Educational Foundation.
Judge hears passionate arguments from Surfside victims but OKs $83 million settlement [Miami Herald]
Fed nominee withdrawal reinforces need for transparency, commitment to improving the economy
Advisor News
- House panel advances CLEAR Forms Act backed by IRI
- Modifying life insurance based on evolving needs
- Gen X faces ‘pension envy’ as they head into retirement
- Your client wants to cash out an annuity. Here’s what to consider
- How student loan debt impacts 401(k) balances
More Advisor NewsAnnuity News
- A-Cap strikes back with lawsuit accusing SC regulators of sloppy process, leaking secrets
- AM Best to Discuss Its Views on Private Credit Surge and Risks at 2026 NAIC/NIPR Insurance Summit
- OID recovers $260M in life insurance benefits
- NUNN BILLS TO COMBAT PAYMENT SCAMS, CUT FINANCIAL RED TAPE PASS FINANCIAL SERVICES COMMITTEE
- SS&C Black Diamond Expands Annuities & Insurance Marketplace with New Insurance Capabilities and Carriers
More Annuity NewsHealth/Employee Benefits News
Life Insurance News