Affordable Care Act stirring rage in California

health care reform

Affordable Care Act spurs insurers to raise rates Since the passage of the Affordable Care Act in 2010, health insurance companies have been warning of a nationwide rate increase that could introduce new financial pressures to consumers throughout the U.S. Insurers claim that the provisions of the health care law are responsible for the possibility of higher rates. The law requires insurance companies to take more aggressive measures on the types of coverage they provide, the administration of the companies themselves, as well as expand the eligibility of insurance coverage.…

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Aetna faced with fine from Washington regulators

aetna faces insurance fine

Aetna facing $1 million fine for faulty policies Insurance giant Aetna has run afoul of regulators in Washington. Insurance Commissioner Mike Kreidler has announced that Aetna has been fined $1 million for issuing more than 7,000 policies in the state to residents that faced premiums  that were never approved by state regulators. Regulators suggest that many of these policies did not live up to the state’s legal requirements, thus were never official and introduced significant risk to consumers that held these policies as well as major financial stress. Policies do…

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Aetna predicts major rate increases in 2014

Aetna Insurance

Aetna CEO forecasts future of rates for health insurance consumers Health insurance continues to be a hot topic in the U.S., especially as 2014 approaches bearing the full weight of the Affordable Care Act. Last week, Aetna, the third largest health insurance provider in the U.S., held its annual investor conference in New York. During the conference, Aetna executives provided a wealth of information to the company’s investors concerning the insurance providers future plans and how it will adapt to the changing insurance landscape. Aetna CEO Mark Bertolini offered a…

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Anthem Blue Cross seeks to raise rates in California

montana Health insurance

Anthem Blue Cross aims for rate increase of an average 18% California’s Anthem Blue Cross, the state’s largest for-profit health insurance company, is looking to raise rates on individual policies by an average of 18%. The rate increase proposal has put the insurer at odds with state insurance regulators once again. Anthem Blue Cross has proposed rate increases regularly in the hopes of addressing issues it considers to be important, including the rising cost of medical care. Regulators have renewed their scrutiny of the health insurance company to determine whether…

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Siegel+Gale releases new insurance industry survey

Insurance industry is confusing for consumers

Complexity of insurance industry noted in new Siegel+Gale survey Insurance can be a complicated matter. While many insurers offer coverage that is somewhat straightforward in concept, the language used in policies can be profoundly confusing, even for those well versed in insurance legalese. Insurance policies are often worded in a particular manner so as to limit legal liability. While this protects the insurance industry from rampant and excessive lawsuits, it also ensures that many policies can only be deciphered by a lawyer. This is a real problem for consumers, according to…

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