UnitedHealth purchased Fiserv’s health-related business in January 2008. Nevada Attorney General Catherine Cortez Masto required assurance at the time that the insurer would not acquire or merge with Fiserv Nevada, a healthcare benefits administrator, and placed restrictions on joint venture activity. But through a series of assignments, UnitedHealth acquired all but one of Fiserv Nevada’s active customers, its employees and assets, Masto said.
“Based on investigating United’s compliance with this condition, we have concluded United failed to deliver on its promises to us regarding Fiserv Nevada,” Masto said in a news release.
Masto said she is seeking court approval to tighten monitoring of the Sierra Health merger agreement. The new settlement also requires UnitedHealth to change its internal policies to protect confidential data on Nevada-based customers previously with Fiserv Nevada.
The Minnetonka, Minn.-based insurer said in a statement that it is pleased to have resolved the matter but that it disagrees “with the allegations because UnitedHealth Group did not acquire an interest in, or engage in a joint venture with Fiserv Nevada.”