Cigna is paying over $172 million to settle claims over Medicare Advantage reimbursement

2025-01-13 17:20:46 source:lotradecoin top token listings category:Invest

Health insurance provider The Cigna Group will pay more than $172 million over claims it gave the federal government inaccurate Medicare Advantage diagnoses codes in order to inflate reimbursement.

The case centered around allegations that Cigna violated the False Claims Act by submitting and not withdrawing “inaccurate and untruthful” codes, according to the U.S. Department of Justice.

The department said in a statement Saturday that Cigna falsely certified in writing that its data was truthful.

Cigna said that the settlement with the government resolved a long-running legal case and “avoided the uncertainty and further expense” of a drawn-out legal battle.

Medicare Advantage plans are privately run versions of the federal government’s Medicare program mainly for people 65 and older.

Cigna also said it will enter a corporate-integrity agreement for five years with the Department of Health and Human Services inspector general office. That deal is designed to promote compliance with federal health program requirements.

Shares of Bloomfield, Connecticut-based Cigna climbed 86 cents to $286.93 in Monday afternoon trading. Broader indexes were mixed.

More:Invest

Recommend

'September 5' depicts shocking day when terrorism arrived at the Olympics

On Sept. 5, 1972, Munich's Summer Olympics morphed in a gut-wrenching instant from the world's bigge

Three children died in a New Orleans house fire in a suspected triple homicide, police say

NEW ORLEANS (AP) — The deaths of three children in an overnight house fire are being investigated as

Takeaways from AP’s reporting on who gets hurt by RFK Jr.'s anti-vaccine work

Independent presidential candidate Robert F. Kennedy Jr. has spent years using his famous name to di