House panel probes Anthem,
UnitedHealth over short-term health plans
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[March 14, 2019]
(Reuters) - The U.S. House Committee on
Energy and Commerce on Wednesday launched an investigation into 12
health insurers, including Anthem Inc and UnitedHealth Group, over their
sale of short-term plans.
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 Terming the short-term plans as "junk", the committee said it was
troubled that consumers who sign up for the plans are being misled
about the nature of the coverage they are purchasing.
"The Democrats cite concerns over several troubling reports of STLDI
(short-term, limited duration insurance) plans denying coverage
entirely, charging more based on age, gender or health state, or
refusing to cover consumers for care that may stem from what the
company deems a pre-existing condition," the panel said.
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Shares of Health Insurance Innovations Inc fell nearly 20 percent,
while eHealth Inc dropped 4.8 pct. Shares of Anthem and UnitedHealth
Group pared gains, but were still up between 2 and 3 percent.
(Reporting by Vibhuti Sharma in Bengaluru; Editing by Maju Samuel)
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