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Insurers barred from state for fraud scheme

Four Maine insurance companies each must pay more than a quarter of a million dollars
July 4, 2012 | By
Tools

Four health insurers operating in Maine are barred from doing business in the state, and each must pay a $260,000 fine, plus restitution, for their involvement in an alleged healthcare fraud scheme.

The Maine Bureau of Insurance began investigating the insurers--United States Contractors Trust (USCT), Real Benefits Association (RBA), Metropolitan Business Alliance (also known as National Association of Business Leadership, or NABL) and Access Health Now (AHN)--after receiving consumer complaints about unpaid medical bills, reported MaineBiz.

That investigation resulted in the bureau finding that USCT, RBA and NABL conducted unlicensed insurance transactions with AHN's assistance. What's more, the insurers engaged in fraudulent activity, taking advantage of vulnerable consumers by falsely promising affordable insurance coverage, according to the Portland Press Herald.

Maine law prohibits an insurance company from conducting business without first receiving authorization from the state insurance superintendent, Insurance & Financial Advisor reported.

"Unlicensed insurance activities must be reported and stopped," Maine Insurance Superintendent Eric Cioppa said in a statement. "Maine policyholders paid their premiums but received little to no benefit in return. Anyone seeking to purchase insurance can always contact the bureau to make sure the company is licensed in Maine."

To learn more:
- see the MaineBiz article
- read the Insurance & Financial Advisor article
- see the Portland Press Herald article
- check out the Maine Bureau of Insurance statement

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