BUSINESS BRIEFING / INSURANCE
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TIMES WIRE REPORTS
WellPoint Inc. and Cigna Corp. each agreed to pay about $10 million to settle an investigation by New York into how the insurer reimburses clients for out-of-network services, according to a person familiar with the probe.
They are the latest insurers to agree to fund a new nonprofit database to help determine reasonable and customary charges for reimbursement.
UnitedHealth Group Inc. settled for $50 million, and Aetna Inc. paid $20 million.
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