Insurance Companies to Pay $1 Million in Fines
JEFFERSON CITY - Three health insurance companies that issue policies for Assurant Health have agreed to pay $1 million for violating Missouri laws on handling claims.
Missouri's Department of Insurance says it found several instances in which Time Insurance Co., Union Security Insurance Co. and John Alden Life Insurance Co. denied claims for childhood immunizations, colon cancer screenings, mammograms, Pap smears and prostate screenings.
Under the settlement announced Thursday, the companies agreed to pay a $500,000 fine to the Missouri State School Fund and donate $500,000 to a state charitable or nonprofit organization of their choosing.
The companies also agreed to provide childhood immunizations without copayments, co-insurance, deductibles or waiting periods. They will also review all claims they denied for the basic procedures since Jan. 1, 2004.