SAI Plus, LLC, of Rockville, Md., has agreed today to stop its unlicensed health insurance business in Texas and to pay restitution to people whose medical bills should have been paid by the company. Commissioner Jose Montemayor and officers of the company signed a consent order that includes a $1 million fine if SAI Plus or any of its principals fail to pay the restitution or to comply with any other provision of the agreement.
The exact amount of restitution is not known, but Texas Department of Insurance staff members estimate it may total several hundred thousand dollars. More than 140 Texas consumers and medical care providers have complained to TDI about unpaid claims since January 1, 2000.
In agreeing to the consent order, SAI Plus denied allegations made against it by TDI staff attorneys following a six-month investigation. SAI Plus did not admit to any violation of Texas insurance laws and rules.
Topics Texas
Was this article valuable?
Here are more articles you may enjoy.
German Insurtech Wefox to Replace CEO After Board Rejects Mubadala Sales Plan 
Zurich to Buy AIG’s Travel Insurance Business for $600 Million 
QBE to Non-Renew $500M of North American Mid-Market Biz 
‘Great Resignation’ Enters Third Year as Workers Embrace AI, Upskilling, PwC Says From This Issue
