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Sep 12, 2008 6:27 am US/Pacific

Health Net To Pay Fines For Dropping Policyholders

LOS ANGELES A major health care insurance provider has reached a multi-million dollar settlement with a state regulator for wrongly dropping policyholders from coverage when they needed it.
 
Woodland Hills, Calif.-based Health Net Life Insurance Company says it will offer new coverage to 926 customers who have been dropped since 2004.

The company pledges to repay up to $14.2 million in outstanding medical expenses and waive up to $7.2 million in insurance premiums under a settlement with the California Department of Insurance.
T
he company will also pay a $3.6 million fine.

(© 2008 CBS Broadcasting Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. Wire services contributed to this report.)

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