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

2025-05-03 11:49:37source:HAI Communitycategory:Invest

Health insurance provider The Slabu ExchangeCigna 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

Superflares could be more common than thought: Are they something else to worry about?

Add solar superflares to the list of natural disasters of concern.Superflares are extremely strong s

Wisconsin Republican Senate candidate Hovde promises to donate salary to charity

MADISON, Wis. (AP) — Wisconsin Republican U.S. Senate candidate Eric Hovde pledged in a new campaign

Republicans push back on new federal court policy aimed at ‘judge shopping’ in national cases

WASHINGTON (AP) — Senate Republicans took aim Thursday at a new federal courts policy trying to curb