Why has HealthMarkets been fined by state regulators?
The health insurance industry is highly regulated. As such, state regulators have the right to take a close look at the policies and procedures of any insurance company selling within their state either as part of a routine review, or as part of a market conduct exam if they perceive there are issues with a company.
Like every other insurance company, HealthMarkets’ insurance subsidiaries have been the subject of regulatory examinations that in some cases have resulted in fines. This is a matter of public record.
In each and every instance, the company’s officers and employees have worked cooperatively with regulators because we share the same goal: full compliance with all applicable laws and regulations to the benefit of our customers, employees, agents and other stakeholders. We will continue to work cooperatively with regulators to quickly resolve and close exams as they occur in the normal course of business.