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Insurers fined $280,000 for selling unapproved student plans

Four health insurance companies have paid a combined $280,000 in fines to the Maryland Insurance Administration for selling health insurance plans to college students that did not meet state standards. Aetna Life Insurance Co., CareFirst of Maryland Inc., National Union Fire Insurance Co. of Pittsburgh, and UnitedHealthcare Insurance Co. were ordered to pay fines that ranged from $20,000 to $140,000. The plans, sold through a college or university, were required to offer the same coverage and cost-sharing as other health plans in Maryland under new rules that went into affect Jan. 1. The insurance administration launched an investigation after it noticed at the start of the school year...

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