Oxford Health Insurance
37,000 Small Businesses in New York Will Share $50 Million In Insurance Refunds
By admin - Posted on May 30th, 2008
Refund Points to Need for Insurance Law Reform
May 29, 2008 -- New York Governor David A. Paterson and New York State Insurance Department Superintendent Eric Dinallo today announced that Oxford Health Insurance, Inc. has agreed to refund $50 million to approximately 37,000 small businesses in New York City, Long Island and the northern suburbs for overcharging on health insurance policies in 2006.
The refund highlights the need for legislation to reinstate the Insurance Department’s authority to approve rate increases before they go into effect, something the Insurance Department is pursuing this legislative session. » read more »
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