Live Insurance News

Expiration of Terrorism Risk Insurance Act could bode ill for the insurance industry

December 19, 2014December 18, 2014 S.Vagus

Federal backstop will no longer be available for insurers and businesses The Terrorism Risk Insurance Act is set to expire at the end of the year following the blocking of a legislation that would have extended its lifetime. The U.S. Senate has failed to reach an agreement concerning the legislation, with lawmakers unable to reach a vote before the end of the Congressional legislative session. Because no solution was found for the issue, the federal backstop that the government had provided to the insurance industry will no longer be available…

California insurance exchange seeks to boost Latino participation

December 18, 2014December 16, 2014 Julie Campbell

Efforts have been boosted to help to encourage this community to enroll in health plans through the online marketplace. Agents are finding that while the health insurance exchange in California has been designed to help residents of the state to be able to find the coverage that they need at a price that they can afford, and yet it remains a tough sell for many people. The primary struggle is in interesting Californians and motivating them to actually take part. According to some agents, this can be especially challenging in…

Health insurance enrollment is up throughout the US

December 18, 2014December 17, 2014 Logan B.

2.5 million people enroll for coverage through exchange An estimated 2.5 million new people have enrolled in health insurance exchanges throughout the United States, according to reports from the Centers for Medicare and Medicaid Services. The agency is responsible for managing the exchanges nationwide and has seen a significant increase in consumer activity over the past month. This year’s open enrollment period has, thus far, proven to be less turbulent than last year’s as exchanges have managed to avoid serious technical difficulties. Exchanges have managed to avoid the technical difficulties…

Some may avoid tax penalties if they do not have health insurance

December 18, 2014December 16, 2014 Nordstrom

Affordable Care Act tax penalties may not be a problem for some people Some people without health insurance in the United States may not be subject to tax penalties next year. According to the Affordable Care Act, all U.S. citizens must have a certain level of health insurance coverage. If people do not have the adequate level of coverage, they could be subject to fines from the federal government, issued during tax season. Some people may qualify for an exemption from these fines, however, due to provisions of the federal…

Health insurance for married same sex couples now offered by Blue Cross

December 17, 2014December 16, 2014 Julie Campbell

The largest insurer in Alabama is now required to comply with a federal rule to treat all married couples equally. Blue Cross Blue Shield of Alabama, the largest health insurance company in the state, is now offering spousal coverage to same sex couples that are legally married, so that the insurer will comply with a federal regulation that states that all married couples must be treated equally regardless of their sexual orientation. A spokesperson for the insurance company said that the same sex spousal coverage started being offered this year.…