PacifiCare Places Dividend Pay on Hold During Inquiry
PacifiCare Life & Health Insurance has agreed to delay a $120 million dividend payment to its parent company UnitedHealth Group during an investigation by California Insurance Commissioner Steve Poizner (R). Earlier this week, Poizner issued an order blocking the payment because PacifiCare might need the money to pay penalties related to the mishandling of health insurance claims.
- "PacifiCare Agrees To Delay $120M Dividend Payment" (Robertson, Sacramento Business Journal, 12/16).