State insurance agencies battle over surplus of taxpayer money in New Hampshire

New Hampshire lawyers are convening this week to discuss a long-standing dispute between non-profit organizations and health insurance companies. The issue lies in how these non-profit organizations manage some 80,000 health insurance plans for state workers and retirees. The key figure in the dispute is the Local Government Center, which serves as an insurance administrator for state employees. According to state insurance regulators, the agency has acquired a surplus of more than $100 million and is demanding that the money be returned to taxpayers. Officials with the Local Government Center…

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New Hampshire regulators to receive federal grants to improve state’s insurance system

New Hampshire insurance regulators are set to receive $3.56 million in federal grants over the next three years in accordance with the federal health care law. The state’s Insurance Department is welcoming the money with open arms, hoping to utilize the funds to help some of the regulatory shortfalls that have befallen the state in recent years. While regulators have yet to determine the breadth of their plans for the funds, officials have noted that some of the money will be used to instill more transparency in the state’s insurance…

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New Hampshire insurance regulators battle with non-profit organization over surplus funds from insurance pools

Insurance regulators in New Hampshire have been clashing with a non-profit organization known as the Local Government Center (LGC). The dispute is centered on how the LGC manages health insurance risk pools for state employees and retirees. The Bureau of Securities Regulation has been investigating the operations of the organization and has released a final report regarding the issue. According to the report, taxpayers may be receiving a big refund from the LGC in the coming months. The report shows that the LGC has merged with several smaller corporations in…

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New Hampshire: Early retirement will cost more now

The Supreme Court of New Hampshire has approved a bill that would allow companies to charge early retirees for their health insurance coverage. The bill is similar to one that was defeated in 2009 after inciting stiff opposition from the state’s employee associations. Last month, the legislation was being hotly debated with opponents arguing that the bill was nothing more than a ploy to generate more revenue. The court has determined that the legislation will serve no detriment to retiree’s rights. They will still be eligible for pension benefits and…

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