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Company: HealthMarkets Inc.
Current Parent Company:
UnitedHealth Group
Parent at the Time of the Penalty Announcement:
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Recap of Ownership Changes:
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Penalty: $20,000,000
Year: 2008
Date: July 24, 2008
Offense Group: consumer-protection-related offenses
Primary Offense: insurance violation
Violation Description: HealthMarkets agreed to pay $20 million to a group of state following a three-year investigation which found multiple problems involving consumer disclosure, oversight and training of agents, claims handling and complaint-handling practices.
Level of Government: state
Action Type: agency action
Agency: Multistate Financial Regulators Case
Civil or Criminal Case: civil
HQ Country of Current Parent: USA
HQ State of Current Parent: Minnesota
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: healthcare services
Specific Industry of Current Parent: insurance; managed care
Source of Data: $20 MILLION FINE LEVIED AGAINST INSURER TO SETTLE MISCONDUCT PROBE, US States News, July 24, 2008 (via Nexis).
Source Notes: If an online information source is not working, check the Violation Tracker
Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the
Update Log.