New Jersey insurance regulators are warning state residents who bought health insurance from a collection of Tennessee-based trade associations that have been shut down to file claims for any losses by Aug. 31.
Maryland insurance regulators have ordered American Trade Association and its subsidiaries to stop selling what they called bogus health insurance, according to an administrative order.
Following up on an emergency cease and desist order issued last month, Maine regulators are prohibiting a Tennessee company and its operators from continuing activity in the state and have ordered the firm to pay of $1.2 million in civil penalties.
Regulators in South Carolina have issued an emergency cease and desist order against two state residents and several individuals and companies, in what they are calling a “nationwide, multimillion dollar health insurance fraud scheme.”
A Tennessee judge has ordered the closure and liquidation of two health providers sanctioned by regulators across the U.S. for allegedly failing to provide adequate services to customers.
Kansas has become the fourth state this year, and the latest state over the last couple of years, to order several Tennessee-based companies to stop selling its products to residents.
Insurance regulators in both Oklahoma and Washington state have issued sanctions against companies they say are illegally selling health coverage in their states.
As a direct result of the Patient Protection and Affordable Care Act (PPACA) – also known as ObamaCare – health insurance agent and broker commissions have been slashed by as much as 50%. Agencies have been forced to lay off employees, limit products and services, shift to other lines, and have seen significant drops in compensation.