Defunct Prudential Unit Settles FTC Charges for $100 Million

Assurance IQ Inc. and MediaAlpha Inc. agreed to pay a total of $145 million in separate cases to resolve charges that they misled consumers who were hoping to buy comprehensive health insurance.

The Federal Trade Commission accused both companies Wednesday of giving consumers the impression that they were selling healthcare plans compliant with the Affordable Care Act, but instead led consumers to buy heavily restricted plans and collected information to generate and sell leads to telemarketers.

The complaint against Assurance was filed in the US District Court for the Western District of Washington, and the MediaAlpha complaint was filed in ...