Some insurers no longer sell wildfire insurance policies in Montana’s high risk zones

California wildfire damage

As fires blast their ways across western portions of the states, many providers have refused to continue selling. Wildfire insurance policies are becoming harder to obtain in certain parts of Montana. Some insurance companies have decided to stop offering this protection in some of the zones where the fires are currently ablaze. This is not an abnormal practice for companies selling protection such as wildfire and flood insurance. “It’s very common for insurance policies when it comes to natural disasters, whether it be fires or floods, that insurers won’t write…

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Montana earthquake insurance policyholders are few and far between

montana earthquake insurance

Residents of the state are cleaning up after having experienced a 5.8-magnatude quake last week. Montana earthquake insurance has been a subject of discussion for the first time in a very long time as residents pick up after last week’s quake. Homeowners and business owners find themselves looking into their policies to see what type of damage is and is not covered when the ground rocks. In a state where earthquakes – particularly strong ones – rarely happen, insurance companies are getting inquiries. Agents say that they are receiving inquiries…

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Montana residents save $1.5 million by shopping around for health insurance policies

health insurance plans healthcare reform affordable care act

HHS report shows that consumers are saving money by shopping around for coverage Many residents of Montana have saved money by shopping around for health insurance coverage, according to a new report from the Department of Health and Human Services. The federal agency recently urged consumers throughout the country to shop around for coverage. The agency suggested that many consumers may be paying too much for their insurance coverage, largely because they are unwilling to shop around and consider new options. In Montana, many consumers took this urging to heart,…

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Health insurance rates set to rise in Montana

Trumpcare health insurance investigation

Insurance premiums for Montana residents expected to rise as much as 34% for 2016 coverage Montana residents can expect to see their health insurance premiums rise in 2016. Insurance Commissioner Monica Lindeen has announced that rates will increase between 22% and 34% in 2016, affecting as many as 41,000 people living in the state. The rate increases will not affect those that receive employer-sponsored health insurance coverage or those that receive coverage through HealthCare.gov and receive federal subsidies for these policies. Those in the private market, however, may experiencing a…

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Montana is working to expand its health insurance program

montana Health insurance

Montana opens public comment period for Medicaid expansion Federal officials are taking public comment in Montana concerning the expansion of Medicaid coverage. The state is currently working on expanding Medicaid coverage to some 70,000 low-income residents. The comment period is set to run through October 15, according to the Centers for Medicare and Medicaid Services. Expanding the state’s health insurance program has been a hard battle, as state lawmakers have resisted expanding the program due such an action’s association with the Affordable Care Act. State has already outlined plans to…

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Montana insurance market will be losing Assurant

montana Health insurance

The health insurer has now announced its intentions to step out of the state and will be notifying its customers. The Montana insurance marketplace will soon have one fewer company to include among those selling health plans, as Assurant has filed its notice to leave the state and will soon be sending its policyholders their notifications, as well. The Wisconsin-based health insurance company is seeking to step out of this type of offering. Assurant Health has said that it will be leaving the 7,283 customers that it serves in the…

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Native Americans may lack access to health insurance in Montana

montana Health insurance

Report highlights the disparity in insurance access among Native communities A new report from the Alliance for a Just Society, Indian People’s Action, and the Montana Organizing Project suggests that Native Americans may not have as much access to Montana’s health insurance exchange as they should. Approximately 6.5% of Montana’s population is comprised of Native Americans, with an estimated 1.7% of enrollees in the state’s health insurance exchange falling into this demographic. The report highlights barriers that exist in the state that may be preventing Native Americans from receiving medical…

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Montana releases estimates concerning costs of health insurance exchange policies

montana Health insurance

State provides estimates concerning cost of health insurance policies sold through exchange Montana has become the latest state in which estimates concerning the rates for policies sold through the state’s health insurance exchange have been released. The state’s Office of the Commissioner of Securities and Insurance has released these estimates in order to give state residents a glimpse at what they could be paying for coverage purchased through the federally-operated insurance exchange. The exchange is meant to provide Montana residents with access to affordable health insurance coverage and is a…

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Life insurance companies are the focus of a new law in Montana

Life Insurance News

A new bill has just been signed by the state governor that requires firms to search for beneficiaries. Governor Steve Bullock has just signed a new Montana bill that will require that life insurance companies always search for policy beneficiaries when the policyholder has died. This is the case even when there have not been any claims submitted following the policyholder’s death. The bill was created as a response to a number of settlement agreements that have been made across the country in which life insurance companies had been charged…

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Health Insurance Rate Review Act gains support

Montana Senator Jon Tester

Health Insurance Rate Review Act earns the support of Montana Senator Montana Senator Jon Tester has announced his support of a new legislation that would give states the ability to block what they consider unreasonable health insurance rate hikes. The legislation is known as the Health Insurance Rate Review Act and will grant state Insurance Commissioners expanded authority over rate proposals coming from health insurance companies. Per the legislation, regulators will be able to deny or modify increases to health insurance rates. They will also be able to require insurers…

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