New Jersey's largest health care insurer will pay the state a record-breaking $100 million settlement.

Attorney General Matt Plotkin says the agreement with Horizon Blue Cross Blue Shield, an underwriter of NJ Spotlight News, settles allegations the company fraudulently secured a 2020 contract to deliver public employee health benefits and then overcharged the state for years.

At the heart of the case was a condition that required horizon to build the state.

The lower amount between what a provider charged and the insurers negotiated rate.

Will state investigators say horizon promised to follow that rule, but never intended to submitting more than 1000 false claims, billing the higher amount and issuing inaccurate explanation of benefit statements.

Plotkin says that fraudulent move drove up health care costs for hundreds of thousands of public servants in the state.

As part of the settlement, Horizon must pay the full amount within the next 25 days, comply with strict monitoring and reporting requirements, and of course, stop that fraudulent billing practice.

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