Assurant to Refund $1.7 Million for Price Discrimination - KFBB.com News, Sports and Weather

Assurant to Refund $1.7 Million for Price Discrimination

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HELENA, Mont. (AP) - A health insurance company will refund roughly $1.7 million to Montana customers that have been forced to pay what the state calls unfairly high prices.

Wisconsin-based Assurant Health finalized a settlement with the state this week agreeing to pay the restitution and a $25,000 fine.

An investigation by Montana's Insurance Commissioner found Assurant charged lower prices for healthy customers and higher prices for about 1,600 sicker customers with the same coverage.

State law prohibits health insurance companies from imposing higher prices based on any factor other than age.

Assurant notified its Montana customers last month that it will end coverage and leave the national health insurance market at the end of the year.

The refunds must be mailed before February 2016.

Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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