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Strategic Limited Partners LP must exit Minnesota’s health market by year-end, pay $290K, and cover claims after selling deceptive plans to over 1,700 consumers.
The Minnesota Department of Commerce has settled with unlicensed insurer Strategic Limited Partners LP, requiring it to exit the state’s health insurance market by year-end and pay a $290,000 penalty, $250,000 of which is suspended.
The company sold deceptive health plans to over 1,700 Minnesotans, some misled into believing they were dealing with MNsure, resulting in invalid coverage, denied claims, and unexpected medical bills.
As part of the agreement, the company must cover all outstanding consumer claims.
The department urges affected individuals to verify if they are owed money and to check insurer licensing before purchasing coverage, warning of risks during open enrollment.
Strategic Limited Partners LP debe salir del mercado de salud de Minnesota antes de fin de año, pagar $ 290K, y cubrir las reclamaciones después de vender planes engañosos a más de 1.700 consumidores.