March 28 Deadline to File Claims Under Aetna Class-Action Settlement will be Extended; Court Evaluates Whether to Terminate the Settlement Agreement
Aetna is seeking to terminate a proposed class-action settlement agreement that would pay physicians and patient/subscribers $120 million. At issue is Aetna’s use of the Ingenix data base to calculate usual, customary, and reasonable fees over the past decade. The settlement was reached last year and was to be the subject of a federal district court hearing for final approval on March 18. Ahead of the hearing, Aetna notified the court it was invoking a provision of the settlement that gave the insurer the right to terminate the agreement if the settlement claims of providers and subscribers opting out of the settlement exceeded $20 million. Aetna told the court, “Based on the list of Opt-Outs provided by the Settlement Administrator to Aetna and Class Counsel, the Opt-Out levels exceed the threshold.” While the termination issue is being adjudicated Aetna has agreed to toll the time for physicians/subscribers to file their claims. Therefore, physicians who planned to file a claim by the end of this week are no longer required to meet that deadline. We will keep members apprised of developments on the termination proceedings. If the settlement is terminated, then the matter will proceed to trial. Read more. Keep up to date by visiting the Aetna UCR settlement website.