State levies $1 million fine against Aetna
OLYMPIA, Wash. (AP) - Aetna Life Insurance Company has agreed to pay a $1 million fine for violations in Washington state.
The Washington state Office of the Insurance Commissioner said Thursday that Aetna's violations included issuing unapproved insurance policies and failing to file legally required documents. The office says the Connecticut-based company has agreed to pay the fine.
Aetna said in a statement that it sometimes makes mistakes. The company says it self-reported information to Washington state regulators and proposed a corrective action plan more than a year ago. Aetna says it is disappointed by the size of the fine given the company's self-reporting and cooperation.
The Washington state Office of the Insurance Commissioner said Thursday that Aetna's violations included issuing unapproved insurance policies and failing to file legally required documents. The office says the Connecticut-based company has agreed to pay the fine.
Aetna said in a statement that it sometimes makes mistakes. The company says it self-reported information to Washington state regulators and proposed a corrective action plan more than a year ago. Aetna says it is disappointed by the size of the fine given the company's self-reporting and cooperation.
They are disappointed by the fine. They will just pass the cost onto their customers.
why does the state always get the money?
Why not share the 1,000,000 among all the people who bought the illegal insurance products?
@Harrison Not illegal, unapproved. Sounds to me like they had some people 'insured' by taking their money but found that any claims made would not be paid.
Welcome to Obamacare.
@KOMO_Sapiens This has nothing to do with Obamacare. Hate to b the one to say it but Obama isn't the sole person responsible for the problems of the world.
 @KOMO_Sapiens Get over it.
1,000,000 is like 1.00 to you and me
If only they would go after Regence...
I think the State has to keep an eye on this company,it has been cheating their
customers for denying their claims for most of the times !
Yeah! And lower your deductibles and better define medical versus dental and actually pay my claims, you schmucks!
 @Donkey Kong Being fined $1 million will done none of those things.