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International Business Times UK
International Business Times UK
World
David Unyime Nkanta

US Insurance Giant Aetna Agrees to $117.7M Settlement Over Medicare Advantage Fraud Claims

Aetna Medicare Advantage Medicare United States CVS Health CMS FBI the Justice Department
Aetna Inc. (Credit: Tony Webster from Minneapolis, Minnesota, United States, CC BY 2.0 , via Wikimedia Commons)

Aetna Inc., a major US health insurer and subsidiary of CVS Health, has agreed to pay $117.7 million (£88.7 million) to resolve allegations that it violated federal fraud laws by submitting inaccurate diagnosis codes to inflate its payments from the Medicare Advantage programme.

The settlement, announced by the US Department of Justice on Wednesday, brings to a close claims that the insurer made false and misleading submissions to federal healthcare authorities over several years.

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