State-run health insurance exchanges may lack funds

Colorado Health Insurance
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Exchanges in some states do not have the access to financial resources they need to remain stable Some states may not have the money they need to operate their own health insurance exchanges. The Affordable Care Act gave states throughout the country the opportunity to build and operate their own insurance exchanges, but only 14 opted to do so. The federal government provided billions of dollars in funding to help exchanges take form in these states, but these exchanges also need to be self-sufficient and operate as effective and profitable…

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Insurance fraud to be highlighted at Colorado summit

auto insurance fraud

National Insurance Crime Bureau to focus summit on fraud activity in Colorado Representatives from throughout the insurance industry will be flocking to Colorado to attend a fraud summit hosted by the National Insurance Crime Bureau. The summit will be focused on the Colorado insurance market, highlighting the problems with fraud it has experienced over the past several years. The state is home to a large number of staged auto accidents, thefts, and catastrophe-related fraud schemes that have placed a financial burden on consumers and insurance companies alike. State is attractive…

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Many drivers in Colorado lack auto insurance

georgia auto insurance news

Lack of insurance coverage is becoming a problem that needs attention Auto insurance is a problem in Colorado. The number of uninsured drivers on the state’s roadways is growing every year and this is a significant issue when considering the frequency of vehicular accidents. It is likely that a single driver will be involved in as many as four accidents during their life. In most cases, auto insurance coverage will handle the issue relatively quickly. Accidents become significantly more complicated if the other party does not have insurance coverage. One…

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Report highlights disparity in children’s health insurance

Children’s Health Insurance Program kids

Report shows that insurance for children is lacking in state-based exchanges and the private market The Wakely Consulting Group has released a report showing the disparity in coverage for children between state insurance exchanges and Children’s Health Insurance Programs. These programs are jointly funded by the federal and state governments and exist to provide insurance coverage to children. In many cases, coverage for children is somewhat lacking in the private market, and this may also be the case for insurance exchanges. These exchanges typically offer policies that are very similar…

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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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Colorado health insurance co-op takes a new approach on the insurance business

Colorado Health Insurance

Colorado HealthOP puts a new spin on member governance Colorado’s first health insurance co-operative has begun accepting applications for its board of directors. Colorado HealthOP aims to initiative a major shift in how insurance companies operate in Colorado, setting a new standard in regards to customer service and insurance availability. The co-op has member control as its top priority and intends to allow its members a great degree of engagement within the insurance industry that they have not had before. The Colorado HealthOP aims to accomplish this by inviting its…

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Enrollment in Colorado health insurance exchange growing slowly

Colorado Health Insurance

State exchange sees more activity Enrollments in Colorado’s health insurance exchange have been lagging behind that seen in other states throughout the U.S. Technical difficulties with the exchange’s website and servers has made it difficult for residents to enroll for coverage. Colorado runs its own insurance exchange and has managed to avoid some of the problems associated with the federal government’s exchange network. Even as the problems with the state’s exchange are being fixed, consumers seem somewhat uninterested in purchased coverage through the marketplace. Consumers have not yet been won…

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