Insurance News Round Up…
Here are the stories we cover in this week’s insurance news round up!
In order to address one of the many concerns that states have concerning some of the health insurance provisions of the law, the Department of Health and Human Services has issued a new rule concerning the use of health insurance “navigators.”
Navigators are meant to help consumers find the best coverage available to them through state or federally run insurance exchanges.
The new rule introduced by the HHS declares that these navigators must be volunteers rather than formal employees.
Illinois has received a $115 million federal grant designed to help the state build and promote a functioning health insurance exchange for residents.
The problem, however, is that there is still a great deal of uncertainty among Illinois residents concerning their eligibility for the exchange and the subsidies being offered by the federal government.
Illinois will be using some of the money it has received to launch a marketing campaign in order to raise awareness of the exchange among consumers.
Insurance statistics show that a growing number of Americans are not protecting themselves through renters insurance coverage.
Experts suggest that many Americans misunderstand the costs associated with renters insurance, thus are driven away from the coverage due to the idea that it is a financial burden.
Statistics show that confusion regarding renters insurance is especially high in Atlanta, Georgia, as well as other large cities throughout the country.
The Pre-Existing Condition Insurance Program is in danger of running out of funds due to legislative oversight in the Affordable Care Act.
The federal health care law has attributed $5 billion to the program, which critics claim is simply not enough to cover the program’s costs.
The health insurance program may actually require more than $30 billion in federal funding in order to accomplish its goal of providing coverage to those with pre-existing medical conditions.
Canada’s Northern Gateway Project has been causing a stir in the insurance industry due to the costs associated with covering the pipelines of the project.
Coverage for the entirety of the project is estimated to be more than $1 billion, making it a costly venture for any insurance provider.
A joint review panel has brought attention to several potential scenarios that could prove