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Regulators end monitoring of UnitedHealthcare claims
State regulators said Friday they are satisfied after a six-year monitoring of one of the country's largest insurers.
Officials from the National Association of Insurance Commissioners (NAIC) had been monitoring claims processing by UnitedHealthcare, as part of a settlement reached in 2007.
The settlement arose from complaints about the timeliness with which United processed claims. The insurer agreed to pay $14 million and abide by a series of standards monitored by the NAIC.
In a report released Friday, the NAIC said United had "met or exceeded" its standards, bringing its oversight to a close.
“We are pleased to report a successful outcome and believe this is an important step toward quality improvement and regulatory compliance for UnitedHealthcare," Iowa Insurance Commissioner Susan Voss said in a statement.
