Alaska’s health marketplace loses 3 insurance companies

Alaska health insurance

Three insurers have now announced that they will no longer be selling individual plans in the state. Yet another insurer has now announced that it will be leaving the individual health plan marketplace in Alaska, which has brought the number of insurance companies that will be leaving the state up to three over the last couple of months, alone. This will cause over 5,000 Alaskans to have to seek out a new provider for their health care policies. The three insurance companies that have given their notice during the last…

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Program to protect health insurance companies to be expanded

insurance industry claims

Government plans to expand reinsurance program to protect insurers The Obama Administration has announced that it will be expanding a program that is designed to protect health insurance companies from high claims. The system serve as a reinsurance program, which provides insurers with the protection they need from the risks that they face. Insurers throughout the country will have the chance to pay into the program, which will partially reimburse them for insurance claims that go beyond a certain level. HHS will have the program cover the cost of claims…

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Insurance companies scramble to find out if Chinese hack reached them

cyber insurance companies security mobile

The industry is attempting to determine if the hackers that breached government employee files also affected them. Cybersecurity experts are cautioning insurance companies that the same Chinese hackers that were behind the data breach of a minimum of four million government employee files may also have been responsible for similar data thefts at two health care giants: Premera and Anthem. The tremendous hack to the Office of Personnel Management was likely not the first large scale American hack for the group. There have been a series of different attacks that…

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Auto insurance discounts are missed by 84 percent of US drivers

storm auto insurance discounts car

A recent study has shown that only 16 percent of American motorists actually take advantage of all savings opportunities. A new report was recently released by insuranceQuotes.com and has shown that a large majority of consumers in the United States are not taking advantage of all of the potential auto insurance discounts for which they might qualify with their providers. The report showed that only 16 percent of drivers had actually asked their insurance company about discounts. Among the types of auto insurance discount that are common are marriage, low…

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Smartphones insurance trends are spreading across the country

police mobile proof insurance trends

New Jersey has just become the latest among many states to approve electronic proof of coverage. New Jersey Governor Chris Christie has recently signed A-3905/S-2680 into law, allowing the state to join into one of the fastest growing insurance trends in which consumers will be allowed to display a proof of their coverage over a mobile device screen in addition to the traditional paper format. This provides only one more reason that the smartphone has become a more central part of the lives of the average American. It will now…

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