Aetna Wins Initial OK for Settlement

A federal judge in Miami gave health insurer Aetna Inc. preliminary approval for a $170-million plan to settle claims by 700,000 doctors that the company unfairly cut reimbursements.

The settlement approved by U.S. District Judge Federico Moreno gives doctors $100 million. Hartford, Conn.-based Aetna also agreed to pay $20 million to create a foundation to address health-care problems and $50 million in legal costs.

The agreement, which would reduce Aetna’s second-quarter earnings by $75 million, lifts the threat of a multimillion-dollar damage award against the company.

Aetna shares fell 9 cents to $56.40 on the New York Stock Exchange.