Live Insurance News

Health insurance regulators in California not awarded more power

November 10, 2014November 8, 2014 S.Vagus

California Proposition 45 has been defeated by voters amidst strong opposition to the measure Voters in California have decided to deny the passage of Proposition 45, which would have provided the state’s Insurance Commissioner, Dave Jones, and the state’s Department of Insurance, with the power to review health insurance rate increases. Under current law, state regulators cannot reject rate increases coming from insurers before these increases have been implemented. Commissioner Jones has been advocating for more regulatory power for some time, claiming that tougher regulations would be a benefit to…

Auto insurance for self-driving vehicles is a hot topic in California

September 19, 2014September 19, 2014 S.Vagus

State regulators are beginning to show more attention to insurance issues involving automaked vehicles Self-driving cars could become more common in the future and this may have an impact on auto insurance. The California Department of Insurance is advising the state’s insurance companies to prepare for the eventual proliferation of automated vehicles. Insurance Commissioner Dave Jones has been gathering data about these vehicles and the technology behind them, hoping that insurers will use this data to adapt more quickly to a future where drivers are a thing of the past.…

Health insurance rates are on the rise in California, again

August 4, 2014August 2, 2014 Logan B.

Insurance premiums have grown by 88% so far this year Health insurance rates in California are growing rapidly. Over the past few years, insurers have been raising premiums, trying to offset the financial impact of increasingly expensive medical care and the provisions of the Affordable Care Act. Since the health care reform law was passed in 2010, rates for health coverage have been growing at a rapid pace. According to the state’s Department of Insurance, health premiums have grown by as much as 88% so far in 2014. Higher rates…

Legislation in California raises questions about health insurance coverage

June 25, 2014June 23, 2014 S.Vagus

Regulations targeting insurance rates could put Covered California in a precarious position New regulations targeting health insurance rates in California are raising questions about the state’s insurance exchange, Covered California. The Insurance Rate Public Justification and Accountability Act is set to be included on the November ballot. If approved by voters, it would go into effect on November 5 this year, 10 days before the state’s insurance exchange begins its second open enrollment period. The legislation would have an impact on the cost of the policies sold through the exchange, but…

Health insurance issues place regulators in a difficult position

November 26, 2013November 25, 2013 Logan B.

Health insurance regulations continue to cause problems Insurance Commissioners throughout the U.S. have been placed in a difficult situation. Earlier this month, President Obama announced that insurance companies could continue to honor substandard health insurance policies rather than cancelling these policies because they do not comply with the standards of the Affordable Care Act. This is meant to create a transition period wherein consumers can have a reprieve from cancellations and insurers can better prepare to comply with federal law. The problem, however, is that many Insurance Commissioners have been…