To keep auto insurance rates in the province affordable, the Financial Services Regulatory Authority of Ontario (FSRA) has announced its suspension of the licenses of 106 health service providers.
The regulator revealed in a release that it suspended health service providers who have failed to file their Annual Information Returns (AIR) between 2018-2021. The AIR is an annual questionnaire meant to collect specific information from health service providers, with the data helping the FSRA conduct market analysis, risk assessment, as well as regulate the service provider sector.
"FSRA is taking action because a small number of health service providers have failed to respond to our industry eblasts, multiple reminders, overdue notices and personal phone calls encouraging them to file their Annual Information Returns on time," said FSRA executive vice president of market conduct Huston Loke. "I strongly encourage all health service providers to ensure they file their AIRs on time. This information is critically important in the job we do to protect consumers."
News of this administrative action comes after the FSRA confirmed that it had issued warning letters to non-compliant health service providers in late August.
FSRA offered a reminder to the health service providers that it has licensed that they are legally required to file their AIR each year, adding that it “regulates the billing practices of health service providers to help maintain fair and reasonable auto insurance rates for consumers.”
While service providers whose licenses are suspended may still offer care to motor vehicle accident victims, they cannot receive direct payment from insurers, the FSRA cautioned.
“Insurance companies will pay the claimants that receive treatments from unlicensed service providers and claimants will have to reimburse the clinic for services rendered,” the regulator said.
