11:46 AM EDT, 08/07/2025 (MT Newswires) -- (Updates with company comment in the fifth paragraph.)

Prudential Financial's ( PRU ) Assurance IQ was ordered to pay $100 million to settle US Federal Trade Commission charges that the company deceptively marketed health insurance plans and unfairly charged consumers without their consent, the FTC said Thursday.

The company allegedly used telemarketing to make deceptive statements to consumers about actual costs and benefits of its limited benefit and short-term medical plans bundled with add-ons such as telemedicine and dental discounts, the agency said.

The FTC said telemarketers falsely claimed the plans covered preexisting conditions, had no benefit caps, and provided access to cost-saving medical provider networks.

The proposed court order that imposes $100 million judgment will be used to refund consumers, the FTC said.

"None of the allegations are against Prudential, but rather involve the historical operations of an acquired business that is no longer operational," the company said in an emailed statement to MT Newswires. "Prudential is pleased this matter is settled so we can continue to prioritize our core businesses and capabilities."

Prudential shares fell 2.6% in Thursday trading.

Price: 101.36, Change: -2.72, Percent Change: -2.61