July 7, 2020
Anthem Owes $7 Million for Anti-Wrapping Rules
Bloomberg Law reports that a California state appeals court ruled that Anthem Blue Cross Life and Health Insurance Co. owes $7 million for “bullying insurance brokers into a boycott of Ben-E-Lect, a ‘wrapping’ company that makes high-deductible employee health plans more affordable through cost sharing.” The judge wrote, “Anthem’s ban on wrapping was an unreasonable and unwarranted restraint of trade.”
Anthem violated California’s Cartwright Act, which is the primary state antitrust law prohibiting anti-competitive activity. Similar to the Sherman Antitrust Act and the Clayton Antitrust Act, the Act prohibits competitors from agreement of any restraint to trade, price fixing or production, or reducing competition.
I find myself wondering how these people placed in positions of power for multi-billion dollar companies get there, given the repeat lapses in judgement displayed!
Sean M. Weiss is a Partner and serves as VP/Chief Compliance Officer for DoctorsManagement, LLC based in Knoxville, TN. DoctorsManagement, LLC services more than 20,000 clients nation-wide and has been in existence since 1956. Weiss serves as an Investigator and expert witness in Federal and State cases as well as an expert or lead in Administrative Law Judge Hearings. During his 25-year career, Weiss has engaged in more than 200 cases working with law firms and health systems across the country. Weiss serves as a third-party compliance and regulatory officer for more than a dozen health care organizations across the country of varying sizes. For more information on Sean M. Weiss or DoctorsManagement, LLC visit us online at www.doctorsmanagement.com or contact us directly at 800.635.4040. You can also follow Sean on his biweekly Blog on LinkedIn (Sean M. Weiss “The Compliance Guy”) or at www.thecomplianceguyblog.com
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