After a two-day bench trial held October 25th and 26th in Helena, Lewis and Clark District Court Judge Kathy Seeley, found Arthur Leroy Heffelfinger guilty of Exploitation of an Older Person. Monica J. Lindeen, Commissioner of Securities and Insurance (CSI), commends her legal team for their hard work in prosecuting the defendant. Lindeen further hopes this verdict will send a strong message that her office will prosecute criminals to the fullest extent of the law.
Insure Montana, the state run insurance pool for small businesses, is in the final stages completing renewals for the coming year. The Insure Montana Board and Blue Cross Blue Shield were able to negotiate a premium increase of only 2.2% for plans.
Today, Montana Commissioner of Securities and Insurance Monica J. Lindeen began the multi-year process of establishing a state health insurance Exchange. The Exchange Stakeholder Involvement Council held its first meeting at the State Capitol to discuss how the state and insurance companies will put this new process for purchasing insurance in place.
Montana Commissioner of Securities and Insurance Monica J. Lindeen announced today that her office was awarded a federal grant to plan for the establishment of a Montana Health Benefit Exchange. The grant is part of a $49 million federal grant to states to conduct research and planning needed to improve the health insurance marketplace and set up state Exchanges. Montana is one of forty-eight states to receive $1 million in grant funds to begin the planning process.
Montana’s senior U.S. Senator Max Baucus and Montana Insurance Commissioner Monica Lindeen today announced the implementation of important consumer protections under the new health care law that will ban private insurance company abuses and provide Montanans with the insurance security and choices they deserve.
Montana Commissioner of Securities and Insurance Monica Lindeen met with President Obama today to discuss the important role state Insurance Commissioners play in enforcing early provisions and full implementation of the Patient Protection and Affordable Care Act.
Montana Commissioner of Securities and Insurance, Monica J. Lindeen, and KMS Financial Services, Inc., a Seattle-based securities firm, have entered into a settlement agreement that provides restitution to the victims identified in the Commissioner’s action against Arthur Heffelfinger, a former KMS stock broker. In an effort to be responsive to the victims affected by Heffelfinger’s illegal activities and to the communities in which KMS Financial Services does business, the firm has agreed to pay the victims just over $975,000 in restitution. The firm was also agreed to pay a total of $50,000 in fines and investigative costs to the State of Montana.
Montana Commissioner of Securities and Insurance Monica J. Lindeen announced today that her office was awarded a federal grant to review premium rates of health insurance companies. The grant is part of a $46 million federal grant to states to enhance States’ current processes for reviewing health insurance premium increases. Montana is one of forty-five states to receive $1 million in grant funds to help improve the review of proposed health insurance premium increases, take action against insurers seeking unreasonable rate hikes, and ensure consumers receive value for their premium dollars.
Operators who scammed people who did not have health insurance – the uninsured, the unemployed and the uninsurable – have been targeted by the Office of the Commissioner of Securities and Insurance (CSI) and a federal/state coalition of law enforcement agents for fraudulently marketing “medical discount plans” as health insurance plans. In addition to CSI, the Federal Trade Commission and law enforcers in 23 other states have filed 50 lawsuits and regulatory actions to stop the scammers’ deceptive practices.
Montana Commissioner of Securities and Insurance Monica J. Lindeen recently reached a settlement agreement with Hancock Securities Group, LLC, a Missouri based stock brokerage firm.