With the addition of CIGNA’s payment, N.Y. Attorney General Andrew Cuomo has raised $80 million that will be paid to a qualified, nonprofit organization for the establishment of a new, independent database that will determine fair out-of-network reimbursement rates for consumers. The nonprofit will also develop a Web site that will allow consumers to determine their costs in advance as well as other advancements for health insurers.
"Today’s agreement with CIGNA is the latest domino to fall in our industry-wide sweep of the healthcare reimbursement system and brings us another step closer to complete reform," said Mr. Cuomo.
Mr. Cuomo also announced his intention to sue Excellus Health Plan for defrauding consumers and patients by manipulating reimbursement rates for out-of-network services.
Read the news release about the CIGNA agreement.
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