Notices of the class action settlement of medical societies' lawsuits against Cigna Corp. were sent out on Monday to more than 500,000 doctors nationwide, the Philadelphia-based company reports.
Physicians will have the option of sending in a form to opt out of the lawsuit. If they do not opt out, they will be eligible for payments from Cigna totaling at least $85 million.
If a certain percentage of physicians opts out, Cigna would have the opportunity to exit the agreement.
U.S. District Judge Federico Moreno in Miami granted preliminary approval for the Cigna settlement on Sept. 4. He will decide on final approval on or after a fairness hearing on Dec 18.
In addition to the payments to physicians, the settlement agreement would change the company's business practices, creating a common definition of medically necessary procedures that must be covered.