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Centene uses narrow networks in its ACA plans. Joe Raedle / Getty

A new class-action lawsuit, first reported by Bloomberg, alleges health insurance company Centene deceived customers about how many doctors accept its Affordable Care Act health plans. The lawsuit said Centene's provider network was largely "fictitious," resulting in many people having trouble finding in-network doctors.

The big picture: Centene is the largest ACA insurer, with about 1.4 million members, and the company said its networks are adequate. But the lawsuit epitomizes the struggle between insurers, who say narrow networks are needed to contain costs, and consumers, who say the plans restrict their ability to get care.

Go deeper

Stark reminder for America's corporate leaders

Rosalind "Roz" Brewer is about to become only the second Black woman to permanently lead a Fortune 500 company. She starts as Walgreens CEO on March 15.

Why it matters: It's a stark reminder of how far corporate America's top decision-makers have to go during an unprecedented push by politicians, employees and even a stock exchange to diversify their top ranks.

Ina Fried, author of Login
Updated 1 hour ago - Technology

Apple's quarterly sales top $100 billion for first time

Credit: Apple

Spurred by strong sales of the latest iPhones, Apple reported it took in a record $111 billion in revenue for the three months ended Dec. 31, as the company crushed expectations.

Why it matters: The move showed even a pandemic didn't dull demand for Apple's latest smartphones.

1 hour ago - Technology

Facebook stock whipsaws amid ad targeting concerns

Photo Illustration by Igor Golovniov/SOPA Images/LightRocket via Getty Images

Facebook's stock showed volatility in after-hours trading Wednesday, despite adding users and beating on top and bottom lines.

Why it matters: Investors seem spooked by proposed changes to user data collection by Apple that would impact Facebook's ad business, in addition to perennial threats of new federal privacy regulations.

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