Aetna will not have to pay Florida hospitals owned by Nashville, Tenn.-based HCA Healthcare $150 million related to an arbitration case, according to a Securities and Exchange Commission filing from Aetna's parent company, CVS Health.
In October, an arbitrator awarded HCA-owned hospitals in Florida $150 million in out-of-network emergency room payments from Aetna. Aetna appealed the decision, and on March 28, the appellate arbitrator lowered the award to about $86 million.
The proceeding was the result of a lawsuit the hospitals filed in Florida court Aug. 25, 2015. The HCA-owned hospitals' arbitration proceeding concerned Aetna's out-of-network and administration practices in Florida for its individual ACA exchange products from 2014-16. Aetna largely exited the individual exchange business at the end of 2016.
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