The Mississippi Insurance Department is revoking the licenses of 59 insurance agents accused of fraudulently selling ACA marketplace plans while living outside the state.
All 59 agents were served notice of a hearing in June, but none appeared at the July 20 proceeding to dispute the allegations, according to a July 23 news release.
State officials said they learned from CMS and an insurer that the agents had submitted applications to sell coverage through the federal marketplace while living outside Mississippi, which violates state licensing law. Investigators determined most of the agents live in Florida, and some had undisclosed criminal backgrounds on their applications.
Other state insurance departments are conducting similar investigations, according to the release.
At the Becker's 5th Annual Fall Payer Issues Roundtable, taking place November 2–3 in Chicago, payer executives and healthcare leaders will come together to discuss value-based care, regulatory changes, cost management strategies and innovations shaping the future of payer-provider collaboration. Apply for complimentary registration now.