Iowa insurance commissioner cautions against cryptocurrency investments

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Bitcoin and other cryptos have seen hot headlines but many think they’re in a bubble that will burst. Iowa Insurance Commissioner Doug Ommen issued a consumer bulletin warning state residents against investing into cryptocurrencies such as Bitcoin unless they understand the risks. The insurance commissioner pointed out that there is a meaningful difference between IPOs and ICOs. According to the Iowa insurance commissioner, people need to know the risks associated with investments into cryptocurrencies before putting money into them. This is a very new market and concept. They are not…

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Aetna health insurance backs out of Iowan individual exchange

Iowa stopgap health insurance plan

A second large insurer has announced its intention to step out of the state, leaving residents in a lurch. Aetna health insurance has revealed its intentions to withdraw from the Iowa individual marketplace. This raises concerns that residents will not have any coverage options available for 2018. Tens of thousands of Iowans who purchased health plans through the insurance exchange may be out of luck. The Aetna health insurance exchange withdrawal will be effective as of January 2018. The insurance company informed state regulators that it has chosen to cease…

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Iowa Insurance Commissioner Gerhart to step down before the end of the year

Iowa Insurance Commissioner Gerhart , Nick

The governor’s office has announced that the commissioner will be leaving his post as of December 23, 2016. The Iowa Governor’s Office has announced that Insurance Commissioner Gerhart has resigned. It stated that the resignation of Nick Gerhart will become effective as of December 21, 2016. The outspoken commissioner said in an interview this week that he had opted not to pursue another term. Commissioner Nick Gerhart has held the position in Iowa since February 1, 2013. Insurance Commissioner Gerhart’s wife, Jessica, is expecting their first child, who is due…

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Insurance industry jobs get a trendy makeover to appeal to millennials

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Iowa brokerage Holmes Murphy is taking aim at old stereotypes of dullness and daily tedium. The vice president of Iowa brokerage Holmes Murphy, Cameron Burt, is more than familiar with the reputation of dullness that is associated with insurance industry jobs, but at a time when it is becoming difficult to fill these positions, his firm is seeking to show the millennial generation that times have changed. The image of an insurance job doesn’t seem to have changed for two solid generations, losing all appeal. However, Burt and his firm…

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Iowa public universities owe millions to insurance company

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The post secondary institutions have refused to pay for a health plan subsidy program but they still owe the money. Public universities in Iowa have been standing their ground and refusing to pay an insurance company millions of dollars in fees which would cover a program meant to provide residents with medical risks with a subsidy for their health plans. The universities had been billed for the fees but until now have refused to fork over the money for it. That said, the Iowa Supreme Court recently ruled that the…

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Insurance news in Iowa reveals struggles as state takes over co-op

Iowa stopgap health insurance plan

CoOportunity Health was established under the Affordable Care Act, but it has found itself in financial calamity. A young health insurer in Iowa, CoOportunity Health, which was established under the Affordable Care Act, is now making insurance news as it has been taken over by the state due to considerable financial struggles. The health insurance division of the state has now had to step in as a result of the co-op’s money woes. The insurance news had originally appeared promising for CoOportunity Health, as it had been established as an…

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Insurance marketing warning issued by state of Iowa

Insurance News about Marketing

An official agency has now released a statement cautioning consumers of potentially deceptive ads. The Iowa Insurance Division has now released a warning to the residents of the state, cautioning them that certain insurance marketing and ads for annuities may have potentially deceptive messages. The agency has been watching a growing number of marketers that work with the industry using misleading ads. The insurance marketing strategies used by those firms are becoming misleading on an increasing basis, said the agency in a bulletin, in the attempt to try to boost…

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Ride sharing service in Iowa comes with potential insurance problems

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Commissioner Nick Gerhart has cautioned drivers that signing up for these programs could negate their coverage. The Iowa insurance commissioner, Nick Gerhart, has released a statement of caution to drivers in the state who are considering participating in ride sharing services, such as Uber, as signing up to give people drives under this type of program could nullify their auto policies. While the Uber service has not yet made its way into Des Moines, the company has been looking at the city. That said, the commissioner spoke in advance of…

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Insurance agency under investigation for overbilling thousands of policyholders

insurance agency overbilling fraud

State officials are now looking into the Iowa business that may have overcharged 10,500 government employees. An insurance agency in Iowa has found itself in hot water after having been accused of overbilling an estimated 10,500 government employees for their health policies. It is believed that the overcharged workers paid a total of millions of dollars too much. The Two Rivers Insurance Co. is now being investigated by the Iowa Insurance Division (I.I.D.). The insurance agency has office locations in West Des Moines, Davenport, Burlington, and a number of other…

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Health insurance plans will be offered by six insurers in Iowa

Iowa stopgap health insurance plan

Half a dozen providers have already applied to be able to offer their plans on the state’s exchange. Although six health insurance companies have already applied to be able to sell their policies on the Iowa exchange, having made their submissions to do so by the deadline last Sunday. However, the largest insurer in the state was not among those who opted to participate in the marketplace. The largest health insurance company in Iowa, Wellmark Blue Cross/Blue Shield, currently has about 2 million policyholders in that state and South Dakota.…

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