Aetna slapped with $120 million statement

Physicians in a class action suit against Aetna may see a proposed $120 million settlement if it is finalized by a federal district court in New Jersey.

The lawsuit was brought against Aetna by thousands of physicians, including the American Medical Association and 20 state medical societies, accusing the insurance company of underpaying physicians and other out-of-network providers.

The physicians contend that Aetna set usual, customary, and reasonable reimbursement rates for out-of-network providers at too low a level and transferred hefty medical costs to patients who should have been covered.