By Karen Freifeld
Feb. 13 (Bloomberg) -- New York Attorney General Andrew Cuomo said he plans to sue one of the largest U.S. health insurers and to probe the health-care industry.
Cuomo will release details of the lawsuit and the investigation at a press conference at noon New York time, his office said in a statement today. UnitedHealth Group Inc., WellPoint Inc., Aetna Inc. and other health insurers fell in New York trading in anticipation of Cuomo's announcement.
The New York Attorney General's office has been investigating whether insurers use ratings to send patients to cheaper physicians instead of better ones. Cuomo, 50, has said financial motives create a conflict of interest that may harm patients.