CIGNA NY Fined $2,000,000 by Insurance Department

DFS SUPERINTENDENT VULLO ANNOUNCES $2 MILLION FINE AGAINST CIGNA FOR VIOLATIONS OF NEW YORK INSURANCE LAW DFS Investigation Discovered That Cigna Illegally Sold Stop-Loss and Fully Insured Health Insurance Policies Outside of New York to New York-Based Small Groups Cigna Cherry-Picked Risks, Undermining the Integrity of New York’s Health Insurance Market Financial Services Superintendent Maria T. Vullo today announced that …

You’ll be surprised at how much this one mistake can cost you

From Employee Benefit Advisor There has been a long-standing rule that employers are prohibited from offering an incentive of any kind to an individual who is Medicare-eligible to enroll in Medicare in lieu of the employer’s group health plan.   Encouraging your older employees to leave your plan and financially incenting them to do so can cost you – big …