Optima Health Plan paid a $24,000 fine to Virginia insurance regulators after being found in a market conduct examination to have violated a number of state laws.
The Virginia State Corporation Commission Bureau of Insurance also ordered the Virginia Beach, Va.-based health insurer to comply with a Corrective Action Plan, records show.
Optima was found to have violated unfair claims settlement practices laws. Regulators also found it failed to maintain a complete complaint register and to comply with provisions relating to accident and sickness insurance, records show.
The insurer also failed to comply with requirements of a complaint system for Managed Care Health Insurance Plans, or MCHIPs, and with advertising requirements, records indicate.
Optima Health Plan fined $24,000 by Virginia regulators via IFAwebnews.com .
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