Insurer Fined $1 Million Plus Refunds
AUGUSTA, Maine - Officials of the State of Maine said MEGA Life and Health Insurance Co., falsely determination of premiums for individual health insurance companies, expressed its willingness to pay a fine of $ 1 million and the penalty for reimbursement of $ 4.6 million, plus interest, Consumer.
The sanctions were adopted Thursday by the Maine Bureau of Insurance and the Maine Attorney General’s Office. Maine Insurance Superintendent Mila Kofman, colonization, “said one of the largest fines and the amount of the agreement for the return of consumers in Maine.
Officials from the State, said the metropolitan area has about 9,830 rules, as from January 1, 2004, December 31, 2007.
MEGA Life has 30 days to the Office of Insurance, as the allocation of the refund to insurance.
The company expects refunds said to begin, go in 60 days.
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