Teachers to recover health insurance loss in $14 million lawsuit settlement
The Indiana State Teachers Association (ISTA) is likely to pay $14 million after a preliminary lawsuit settlement was made on August 13 in connection with its fraudulent long-term disability insurance plan for Hoosier teachers amounting to nearly $30 million.
The lawsuit was filed by the state securities commissioner in 2009, claiming that ISTA’s improperly invested money paid by teachers for their medical insurance into the union’s large long-term disability plan, as an attempt to make up for the program’s deficits.
The settlement of the union’s health insurance scam, which the Indiana Secretary of State Connie Lawson compared to a Ponzi ploy, would allow several Hoosier schools to recover part of the money they lost.
Mark Shoup, spokesperson for the ISTA, explained that this is the fairest agreement for all parties involved.
Unfortunately, many employees run into problems when trying to obtain their long-term disability insurance or benefits. If this is the case for you or a loved one in Indiana, contact the attorneys of the Hankey Law Office at (800) 520-3633 today.