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A 13-year-old class-action lawsuit accusing New Jersey's largest insurance carrier of short-changing surgery centers across the state ended Friday, resulting in a settlement of at least $160 million, federal court records and the lead attorney in the case said.

Horizon Blue Cross Blue Shield of New Jersey denies the "material factual allegations and legal claims" contained in the lawsuit, but both sides agreed to settle and avoid further protracted and expensive litigation, according to the settlement.

The settlement is an important win for the 180 same-day surgery c...

Tests produce winners and losers. The one that the government imposed on the nation’s biggest banks this week was no exception.

The Federal Reserve on Thursday released results of the second round of its annual stress tests, which assess whether large banks have enough capital to make it through an economic crisis, and whether they have the systems and plans in place to deal with the related upheaval. When banks fail the tests, the Fed may limit how much money they can pay out to shareholders or, in the case of the American operations of foreign banks, how much they...

Wells Fargo & Co has been hit with a lawsuit by a Texas jewelry company accusing it of encouraging thousands of retailers nationwide to charge hidden fees to customers using financing programs created by the bank.

Then lawsuit, filed on Thursday in San Francisco federal court, said retailers were told to build financing fees into the price of goods and advertise that purchases could be financed interest-free. In reality, the higher purchase price amounted to a hidden, double-digit interest charge, the lawsuit said.

It alleges violations of the U.S. Truth in Lending A...

A group of more than 180 ASCs requested a federal court's final approval of a $4 million settlement with Horizon Blue Cross Blue Shield of New Jersey, Law360 reports.

Here are six insights:

1. The suit, which was initiated 13 years ago regarding Horizon's out-of-network reimbursement practices, accuses the payer of making improperly low reimbursements on medical claims in violation of the Employee Retirement Income Security Act. The suit includes two subclasses — Navigant and the Student Employee Health Plan.

2. The centers have already received more than $150 million...

If you own a restaurant, plumbing company or other small business, you may be intrigued by the expected expansion of association health plans under a new rule that got a stamp of approval from the Trump administration last week.

Will they meet your needs? Save you money?

Those are important questions for small businesses and self-employed people who struggle to buy affordable insurance for themselves and their workers.

Federal officials say the new rule would help level the playing field for these businesses, giving the kind of flexibility on benefits and leverage to...

Bank of America Corp. was accused in a lawsuit of providing more than 100 accounts used to perpetrate what the U.S. regulators called a $102 million Ponzi scheme.

The class-action suit filed on behalf of people who lost money follows a complaint last week by the Securities and Exchange Commission alleging that five men and three companies defrauded more than 600 investors.

One of the alleged ringleaders once commissioned a song about himself for a party in Las Vegas with lyrics celebrating his $10,000 suits and his partner’s affinity for champagne, according to Monda...

In his new job overseeing health coverage for 1.2 million workers and their families, Atul Gawande says he hopes to find specific ways to make health care more efficient and the solutions exportable.

Dr. Atul Gawande, the surgeon-writer-researcher chosen to lead a joint health venture by three prominent employers who hope to bring down health costs, says his biggest goal is to help professionals "make it simpler to do the right thing" in delivering care to patients.

Gawande elaborated a bit on what that means at the Aspen Ideas Festival this week, just days after bei...

Optum subsidiary Optum360 and U.S. Bank are partnering on innovation geared toward enhancing providers' ability to optimize the revenue cycle. 

The two companies are partnering on an expanded suite of capabilities to help hospitals and providers better manage their revenue cycle, combining Optum's focus on healthcare technology and US Bank's financial expertise. Said Samuel Robb, U.S. Bank  senior vice president and head of receivables in the Global Treasury Management Group.

The technology suite called Healthcare Receivables Manager is slated to launch later in the...

Wells Fargo is once again being accused of misconduct, this time because it allegedly used complex financial investments to take advantage of mom-and-pop investors.

The Securities and Exchange Commission said on Monday that between 2009 and 2013, Wells Fargo (WFC) reaped large fees by "improperly encouraging" brokerage clients to actively trade high-fee debt products that were intended to be held to maturity.

Wells Fargo Advisors, the bank's brokerage division, agreed to pay a $4 million penalty over its handling of the products, known as market-linked investments. T...

The Fifth Circuit Appellate Court has revived a Texas hospital's $58 million lawsuit against 16 independent insurers and claims administrators doing business under the Blue Cross and/or Blue Shield trademarks across the U.S. over alleged underpayments.

Here are 10 things to know about the lawsuit:

1. In 2012, Victory Medical Center-San Antonio (Texas), previously Innova Hospital San Antonio, sued the BCBS independent insurers and claims administrators in Texas state court. In the lawsuit, which was removed to federal court, the hospital alleged the insurers failed to...

WASHINGTON/NEW YORK (Reuters) - Bank of America Corp's Merrill Lynch unit admitted to misleading brokerage customers about which firms processed their trades and agreed to pay a $42 million fine under a settlement with the U.S. Securities and Exchange Commission announced on Tuesday.

The settlement follows a similar agreement with the New York attorney general in a related probe nearly three months ago, under which Merrill Lynch also admitted to wrongdoing and agreed to pay a $42 million fine.

Merrill "fell far short of the standards expected of broker-dealers in our...

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