Illinois workers compensation moves through state Senate

Illinois workers compensation - Construction Site - Construction Workers

Senators have given the nod to new restrictions on insurance companies writing this type of policy. New Illinois workers compensation legislation has received approval in the state Senate. It applies new restrictions to insurance companies that write workers compensation policies. The insurance legislation passed the state Senate this week in a vote of 34 to 21. This Illinois workers compensation legislation is a mirror image of one that was approved by lawmakers in the state last year. However, when that proposal reached Governor Bruce Rauner’s desk, he vetoed it. This…

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Life insurance companies in Illinois owe $7.5 billion to unknowing beneficiaries

life insurance companies

Many insurers are keeping the money owed to beneficiaries who have no idea they’re entitled to a payout. Life insurance companies across the country are struggling with the issue of tracking down beneficiaries owed death benefits. While some states have very strict and specific laws about insurer practices in these situations, others make it possible for insurers to admittedly keep the owed money. In Illinois, this problem has risen to several billions of dollars owed to beneficiaries but kept by insurers. The practice has meant that life insurance companies aren’t…

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Allstate auto insurance rates are going up for Illinois drivers

allstate auto insurance

The insurer has increased premiums in the state by an average of 6 percent, following a statewide trend. Allstate auto insurance customers are about to face an increase in the rates they’re paying for their policies. This announcement was made only 6 months after a similar one was made State Farm, the largest car insurance company in the state. The average increase for drivers in the state with Allstate coverage will be about 6 percent. The original filing to increase Allstate auto insurance rates was made in January. An Illinois…

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Health insurance rate increases may be on their way to Illinois

Health Insurance rate increases

That said, there is no way for consumers to know for sure until the information is released on August 1. Residents of Illinois are going to have to wait a while before they will know if health insurance rate increases are coming. The information about the proposed premiums changes under the Affordable Care Act for next year isn’t available until August 1. It is at that time that the health exchange plan premiums information will be made public within the state. To many in Illinois, having to wait until August…

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Privacy breach may have some impact on the insurance industry in Illinois

Illinois Insurance industry

State agency announces privacy breach, revealing Social Security Numbers of health care providers The Illinois Department of Insurance has announced that it has mistakenly allowed the Social Security Numbers of health care providers to be publicly posted. The number of health care providers affected by this privacy breach has not yet been disclosed, but the event may have some impact on the insurance industry. State officials recently learned of the privacy breach after receiving complaints. It is unclear how long the Social Security Numbers of health care professionals were visible…

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Illinois can no longer pay health insurance claims for state employees

Health Insurance Illinois

State agency cannot cover the cost of claims The Illinois Department of Central Management Services has announced that it will no longer be able to pay state employee health insurance claims without a state budget. The claims are coming from those that receive coverage through the State Employees Group Insurance Program. Since the agency can no longer pay for the claims being made by policyholders, some 150,000 people could face higher out-of-pocket costs associated with their health insurance coverage. Those with self-insured plans will be hit the hardest by lack…

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Ad campaign in Illinois seeks to promote health insurance among young adults

health insurance marketing young woman

New ad campaign launched in Illinois to connect with young consumers A new ad campaign has been launched in Illinois that seeks to raise awareness about health insurance and the state’s exchange. The new campaign has a very specific focus on young adults, a notoriously elusive market for the health insurance industry. Many young adults believe themselves to be proverbially invincible and see little need for insurance coverage of any kind. Others see insurance as an expensive investment that will never benefit them and avoid coverage in order to save…

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Health insurance rate proposals opened to the public in Illinois

Health Insurance Illinois

State officials make rate filings from insurers open to the public Illinois officials have granted the public with access to rate proposals filed by the state’s health insurance companies. These proposals contain detailed information about the rates that insurance companies charge for the coverage that they provide. Insurers have submitted proposals for rate increases recently, which will affect policies in 2015, and many companies have had to offer sufficient evidence that these rate increases are necessary. State officials believe that such information should be available to the public. State residents…

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Illinois is on track to reach health insurance exchange enrollment goals

Health Insurance Illinois

Enrollment in state’s insurance exchange continues to accelerate as people become more conscious of March 31 deadline In Illinois, enrollment in the state’s health insurance exchange has begun to pick up momentum. Nearly 900 people are enrolling for coverage through the exchange on a daily basis, according to figures released by the Department of Health and Human Services.  Some 113,733 people throughout the state have enrolled for coverage through the exchange in the first five months of its existence. Similar results are being seen in other states when it comes…

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Insurance news made when high school football player inspires law

football sports student insurance news

The Governor of Illinois has just signed a new bill that was inspired by an injured student. Pat Quinn, the Governor of Illinois, has just signed a new bill into law, making insurance news when he added his signature while visiting Eisenhower High School, located in Blue Island Illinois. The reason that the signing occurred at that high school was that the law was inspired by one of its students. The insurance news started back in the year 2000, when a student at Eisenhower, who was on the football team,…

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