NU Online News Service, July 25, 11:49 a.m. – The Florida Department of Insurance has issued a final order suspending the license of American Medical Security Group Inc., Green Bay, Wis., to operate in the state for one year.
The Florida department has accused American Medical, a company that sells major medical insurance to individuals and small groups, of violating its rating rules.
American Medical called the order an “abuse of regulatory discretion.” It says it will immediately file an appeal with a Florida state appeals court and ask the court to stay the department’s order.
A state administrative law judge ruled in favor of American Medical and against the Florida department in April, and American Medical has also offered to change its rating system, even though it believes its system is lawful and appropriate, the company says.
“Unfortunately, our efforts were rebuffed,” Timothy Moore, American Medical’s general counsel, said in a statement about the company’s efforts to negotiate with the Florida department.