Business Services Industry
CIGNA, providers reach agreement.
Knight Ridder/Tribune Business News, December, 2004
By Diane Levick, The Hartford Courant, Conn. Knight Ridder/Tribune Business News
Dec. 14--CIGNA Corp. said Monday it has agreed to settle lawsuits involving thousands of specialty health care providers nationwide -- including podiatrists, psychologists and chiropractors -- for about $19 million.
CIGNA would create an $11.55 million fund to compensate providers, pay as much as $7.5 million for plaintiff attorneys' fees, and make improvements in the way claims are handled.
CIGNA is the first health insurer to announce a proposed settlement with specialty providers in the class-action litigation pending in Miami's U.S. District Court.
Specialty professionals sued other managed care companies, too, including Aetna, Health Net,...
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