Last week, Humana Inc (NYSE:HUM) agreed to pay $90 million to the federal government to settle a whistleblower lawsuit alleging fraudulent Medicare Part D bids.
The lawsuit, filed by Phillips & Cohen under the False Claims Act, accused the healthcare insurance giant of overcharging the government by submitting misleading bids for Medicare Part D prescription drug contracts between 2011 and 2017.
The case is the first of its kind to address alleged fraud in the Part D contracting process.
Also Read: Insurance Giant Humana Stock Tumbles After Q2 Earnings Beat, Issues Sub Par Profit Outlook.
Medicare Part D, the federal government’s voluntary prescription drug program, contracts with private insurers to cover ...
