Colorado health insurance co-op closes its doors

Colorado Health Insurance

State’s co-op has failed to challenge and order to cease operations Colorado’s largest not-for-profit health insurance provider closed its doors earlier this week. Colorado HealthOP, the state’s co-op set up under the Affordable Care Act, did attempt to save itself from the state’s decision to shut it down, but was ultimately unsuccessful in the attempt. The Colorado Division of Insurance has ordered the co-op to stop writing new policies, citing serious financial issues that the insurer has been facing. The state’s co-op is one of several that will be shutting…

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Marijuana creates some uncertainty in the health insurance space

Medical Marijuana Auto insurance statistics

Some insurers may opt to raise rates for marijuana users in the future Some companies in the insurance industry are still unsure how to approach the issue of legal marijuana. In Colorado and Washington, where the use of recreational marijuana is legal, the issue has not yet had any impact on health insurance premiums. This may not be the case for long, however, as insurers begin to examine whether or not smoking marijuana can be considered to be within the same category as smoking tobacco, in terms of risk. Despite…

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Health insurance cancellations reach 250,000 in Colorado

Colorado Health Insurance

Cancelled health insurance policies cause frustration throughout state The number of people in Colorado who are likely to see their health insurance policies cancelled has reached 250,000. These cancellations are causing frustration for many consumers in Colorado and several other states throughout the U.S. According to the Colorado Division of Insurance, 23 insurance providers are opting to cancel policies due to federal regulations introduced through the Affordable Care Act. The majority of these policies are expected to expire in January and February of next year. Insurers opt to cancel policies…

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Public insurance adjusters in Colorado face new regulations

Public Insurance Adjusters Colorado

State lawmakers devise new regulations for public insurance adjusters Public insurance adjusters in Colorado are likely to face tougher regulations in the coming year. State lawmakers are currently debating a new bill that will institute strict regulations concerning the operations of public insurance adjusters throughout the state. The bill would provide the state’s Division of Insurance. with the authority to suspend or otherwise revoke the license of a public insurance adjuster, power that the state agency currently lacks, while also tasking the agency with the enforcement of several new regulations.…

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Report shows Colorado Division of Insurance plays a vital industry role in the state

OnlineAutoInsurance.com has announced that the insurance regulators for the state of Colorado have released their annual report and that this document points out two critical services performed by the regulators, which are: making company-specific information relating to complaints publically available, and managing those complaints. The report, which was made by the agency to the Colorado Legislature, provides detailed data regarding the number of consumer complaints that have been received by the Division of Insurance, and what those disputes involved. It covered the complaints that occurred from July 2010 through June…

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