Live Insurance News

Maryland’s health insurance exchange has some major problems, according to state audit

October 16, 2015October 14, 2015 S.Vagus

Audit reveals many problematic issues with state’s insurance exchange The Maryland Office of Legislative Audits has reviewed the state’s health insurance exchange, called the Maryland Health Benefit Exchange, and have found that the exchange’s operators did not appropriately protect sensitive personal information from those enrolling in the marketplace. The state’s exchange began official operations in June of 2011 and the Office of Legislative Audits reviewed data from the exchange from that point through July 2014. The findings of the audit highlight many instances in which the exchange can be improved.…

Piecemeal insurance plan is costing Mississippi state employees

October 15, 2015October 13, 2015 Julie Campbell

The method of coverage used for those workers has fragmented contracts that are more expensive. According to a recent report by The Clarion-Ledger in Mississippi, if all state employees were to receive supplemental coverage on their insurance plans, they would likely receive better benefits while paying less for them. At the moment, the contracts for insurance coverage are spread out among over 100 state agencies and school districts. At the moment, the state doesn’t require competitive bidding to occur for insurance plans, nor are proposals for the best price or…

Colorado could revolutionize its health insurance system with a single-payer initiative

October 15, 2015October 13, 2015 Logan B.

State residents will have a chance to change how they get their insurance coverage Colorado residents will soon have a chance to determine how their health care in managed. Colorado’s Initiative 20, also referred to as ColoradoCare, aims to make major changes to how consumers receive their health insurance coverage, and it could have significant implications for the state’s insurance exchange. The initiative aims to establish a single-payer system, which involves the government, rather than private insurers, covering the cost of health care. While many have supported such a system,…

New Jersey Senators take issue with proposed health insurance plans

October 15, 2015October 13, 2015 Nordstrom

Senators seek more regulation for insurance plans that will be offered by Horizon Blue Cross Blue Shield Two Senators in New Jersey have filed a request with the state’s Attorney General to delay one of the largest health insurance providers from offering a set of new plans. The plans are meant to be sold as money-saving solutions that would provide better coverage for health care costs. The plans are coming from Horizon Blue Cross Blue Shield and the Senators are concerned that the plans could be a detriment to both…

Cyber insurance coverage is very costly for health insurance

October 14, 2015October 13, 2015 Julie Campbell

Following the record breaking data breaches that were suffered by several insurers, premiums are soaring. The large number of high profile data breaches that have been suffered by health insurers over the last year or so have made the cost of cyber insurance coverage skyrocket for those companies. This rise in rates has affected not only insurance companies but also retailers and banks. The reason is that those sectors have also been victims of data breaches and cyber insurance companies are seeing that it is becoming increasingly costly to cover…