HARTFORD, Conn. (AP) — The Connecticut State Medical Society is welcoming a $120 million class action settlement with Aetna over out-of-network payments to providers and consumers.
The society was one of 10 associations that joined with the American Medical Association in a lawsuit against the insurer.
Aetna, which is based in Hartford, said Friday it will pay $60 million, most of it after the settlement receives final court approval, and then as much as $60 million more after claims are submitted and validated. Aetna, the nation’s third-largest health insurer, said it admitted no wrongdoing in the settlement.
Matthew C. Katz, executive vice president and chief executive of the Connecticut State Medical Society, says the settlement recognizes years of work by the medical group and other organizations on behalf of doctors and patients.