Aetna Inc. announced today that it will contribute $20 million to a nonprofit organization to help create a new reimbursement database that will replace UnitedHealth Group’s Ingenix database.
The Hartford-based insurer also said it would halt all future use of Ingenix databases.
Meanwhile, UnitedHealth Group, parent of Connecticut-based Oxford Health, says it will pay $350 million to settle a class-action lawsuit over reimbursement for out-of-network medical claims.
The agreement resolves a case filed by the American Medical Association against the Minnetonka, Minn.-based managed care company UnitedHealth says it admits no wrongdoing but believes it is in the company’s best interest to move forward.
The money will fund a settlement in connection with out-of-network claims dating to 1994.
Earlier this week, UnitedHealth agreed to settle a complaint in New York and pay $50 million to help establish a new independent pricing database for insurers to figure payment of these claims.
That also will replace the much-criticized database run by Ingenix Inc., which has offices in Rocky Hill.
Connecticut Attorney General Richard Blumenthal has said his investigation continues into UnitedHealth’s actions.
At 11 a.m., UnitedHealth shares traded at $24.01, down 7 cents, or 0.3 percent. (AP)
