To maintain auto insurance coverage charges within the province reasonably priced, the Monetary Companies Regulatory Authority of Ontario (FSRA) has introduced its suspension of the licenses of 106 well being service suppliers.
The regulator revealed in a launch that it suspended well being service suppliers who’ve didn’t file their Annual Info Returns (AIR) between 2018-2021. The AIR is an annual questionnaire meant to gather particular info from well being service suppliers, with the information serving to the FSRA conduct market evaluation, danger evaluation, in addition to regulate the service supplier sector.
“FSRA is taking motion as a result of a small variety of well being service suppliers have failed to answer our trade eblasts, a number of reminders, overdue notices and private cellphone calls encouraging them to file their Annual Info Returns on time,” mentioned FSRA government vp of market conduct Huston Loke. “I strongly encourage all well being service suppliers to make sure they file their AIRs on time. This info is critically vital within the job we do to guard shoppers.”
Information of this administrative motion comes after the FSRA confirmed that it had issued warning letters to non-compliant well being service suppliers in late August.
Learn extra: FSRA places its foot down on well being service supplier licensing situation
FSRA supplied a reminder to the well being service suppliers that it has licensed that they’re legally required to file their AIR every year, including that it “regulates the billing practices of well being service suppliers to assist preserve truthful and affordable auto insurance coverage charges for shoppers.”
Whereas service suppliers whose licenses are suspended should still provide care to motorized vehicle accident victims, they can not obtain direct cost from insurers, the FSRA cautioned.
“Insurance coverage firms can pay the claimants that obtain therapies from unlicensed service suppliers and claimants must reimburse the clinic for companies rendered,” the regulator mentioned.