Cigna Fraud Report 2012

Below is the Cigna Fraud Report for 2012. The report is an updated history of  Cigna’s felonious misconduct.

Cigna Fraud

Cigna Financials

33% denial rate (Healthcare.Gov, Kaiser, AMA)

CEO compensation: $12.5 million ( AP, CNBC)

$466 million profit (3Q earnings 2012, CEO to layoff 1,300 in order to get more profit CNBC reports)

$5.61 billion premium revenue (CNBC)

80% medical loss ratio (supposed to be 85% by 2013 according to CMS)

Cigna Board of Directors  - responsible for denials) 

David Cordani – CEO

Eric Foss – CEO of Pepsi Company

Isaiah Harris – CEO of AT&T Advertising

Roman Martinez – private investor and Director of Alliant Technologies

John Partridge – President of Visa

James Rogers – CEO of Duke Energy

Joseph Sullivan – Director of Amylin Pharmaceuticals

Eric Wiseman – Chairman of VF Corporation

Donna Zarcone – former COO of Harley-Davidson

William Zollars – CEO of Yellow Roadway Corporation

Cigna’s history of Fraud 

History of Medicare Fraud:

Fined $2.5 million       –   April 2012

Fined $24.5 million  – December 2002

Fined $9 million       – March 2000

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History of Non-Medicare Fraud:

Fined $1.2 million  -     April 2011

Fined $638,000      -  March 2011

Fined $4,300,000   – February 2011

Fined $40,000         – January 2011

Fined $32,000          - April 2010

Fined $20 million    -    February 2009

Fined $97 million    -    July 2007

Fined $150,000      -    January 2006

Fined $540 million  -    September 2003

Fined $15 million       – May 2004

Fined $200,000        - November 2002

Fined $80,000         -    June 2002

Fined $300,000     –     January 2001

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Medicare Fraud Fines:            $36,000,000 million

Non-Medicare Fraud Fines:  $678,940,000  million

Total Fraud Fines:                      $714,940,000 million

 

Pocketed $5.9 million in income taxes illegally from employees in New Jersey

According to the American Medical Association, Cigna has been fined $4,941,534 by state governments since 2000 for failing to pay physicians in a timely manner.

Fined $15,000,000 million for downcoding physician claims on purpose in May of 2004

Cigna Fraud Report 2012

Listed above is an updated history of Cigna’s felonious misconduct. Stay tuned to see how Cigna will do in 2013.

 

photo credit: http://www.tuition.io/blog/wp-content/uploads/2012/12/Studen-Loan-Fraud-Triangle.jpg