United health options backdating


03-Sep-2020 12:45

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The announcement included a statement that Cuomo intended "to file suit against Ingenix, Inc., its parent United Health Group, and three additional subsidiaries." Cuomo asserted that his investigation found that rates found in a database of health care charges maintained by Ingenix were lower than what he determined was the actual cost of certain medical expenses.Cuomo said this inappropriately allowed health insurance companies to deny a portion of provider claims, thereby pushing costs down to members.The investigations came to light after a series of probing stories in the Wall Street Journal in May 2006, discussing apparent backdating of hundreds of millions of dollars' worth of stock options by UHC management.

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Under the settlement, United Health Group and Ingenix would pay million to finance a new, non-profit entity that would develop a new health care pricing database.In 1977, the United Health Care Corporation was created to reorganize the company and become the parent company of Charter Med.



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