Tag: massachusetts

Massachusetts health insurance exchange may be too broken to fix

Nordstrom
Massachusetts Health Insurance

State insurance exchange may need to be rebuilt entirely Some health insurance exchanges in the U.S. may be too broken to fix. This is the case in Massachusetts, where state officials are suggesting that the exchange needs to be dismantled and rebuilt from the ground up. The state’s insurance exchange began serving residents in October 2013, but severe technical difficulties have prevented many people from using the exchange in any way. Now, the state is under pressure to fix the exchange, or cede control of it to the federal government.…

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California health insurance exchange shows healthy growth

S.Vagus
California Health Insurance Companies

State-run health insurance exchanges are faring better than their federal counterparts Throughout the U.S., relatively few people have enrolled in state-based health insurance exchanges. The majority of these exchanges are managed by the federal government, with only 12 states opting to run their own exchanges. Technical problems with the federal exchange network have kept many people from enrolling in exchanges properly, which is one of the reasons behind low enrollment numbers. States managing their own exchanges, however, have fared better in terms of enrollment, as is the case in California.…

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Flood insurance rates to spike this year

Logan B.
Flood homeowners Insurance Rates raising homes

Flood insurance rates are set to rise throughout the US Flood insurance throughout the U.S. is expected to become costlier as legislation passed last year concerning the National Flood Insurance Program comes to fruition. The legislation was designed to address the several, severe financial problems that the flood insurance program has faced over the past several years. The program first began experiencing these troubles in the wake of Hurricane Katrina. The storm dealt such a powerful blow that the federal program has not yet recovered. Ensuing years of floods throughout…

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Auto insurance fraud falling in Massachusetts

Nordstrom
Auto insurance fraud

Auto insurance fraud meets aggressive action in Massachusetts Auto insurance fraud has been a growing problem in Massachusetts. This problem began receiving significant attention from state lawmakers more than a decade ago when a staged accident caused resulted in the death of a state resident. A new report from the Insurance Fraud Bureau of Massachusetts and the Automobile Insurers Bureau of Massachusetts highlights the progress that the state has made in its ongoing fight against auto insurance fraud. The report suggests that the state’s continuous efforts have saved consumers from…

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Insurance industry may not be liable for payouts relating to Boston Marathon Bombings

Logan B.
Insurance Industry Boston sports

Insurance industry may be exempt from claims payouts The Boston Marathon Bombings continue to send ripples throughout the insurance industry as more details concerning the disaster come to light. Last week, President Obama declared that last week’s bombings were, in fact, an “act of terror” perpetrated by a malicious party. The federal government has been pressured to avoid the term “terrorism,” however, due to the implications that could have within the insurance industry. Classifying the disaster as terrorism could potentially exempt insurance companies from providing benefits to policyholders. Bombings may…

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