Live Insurance News

Flood insurance rates may see turmoil throughout the US in coming months

March 12, 2014March 10, 2014 Logan B.

Insurance rates may soon become chaotic due to changing flood maps and new legislation Flood insurance rates are expected to begin fluctuating throughout the U.S. this year. Reforms are taking hold of the National Flood Insurance Program due to new legislation. The provisions of this legislation are delaying significant increases in insurance premiums for the time being, but the Federal Emergency Management Agency (FEMA), which oversees the federal insurance program, continues to make revisions to flood maps that are having a dramatic impact on the cost of insurance protection. Arizona…

New York health insurance exchange hit by technical difficulties

October 8, 2013October 5, 2013 Logan B.

Health insurance exchange website encounters problems New York’s health insurance exchange has begun open enrollment on schedule, but the exchange’s website has been experiencing some technical difficulties. The site is meant to serve as the face for the exchange and functions as the marketplace through which state residents can purchase health insurance policies. The site is quite similar to those that exist in other states, but New York officials have found that there are some glitches that escaped discovery when the site was being tested last month. Site upgraded to…

New health insurance company aims to revolutionize health care in New York

September 30, 2013September 28, 2013 S.Vagus

Newly formed health insurance company will debut with New York’s insurance exchange A new health insurance company is set to make its debut when New York’s insurance exchange, called New York State of Health, begins open enrollment on October 1. The company is called, simply, Oscar, and aims to take a new approach on how coverage is offered to consumers throughout the state. The company was founded by Josh Kushner, Kevis Nazemi, and Mario Schlosser, all of whom have participated in entrepreneurial ventures in the technology industry. Company aims to…

Aetna pulls out of New Jersey health insurance exchange

September 19, 2013September 17, 2013 Logan B.

Company opts to not participate in state health insurance exchange Aetna, one of the largest health insurance companies in the U.S., has announced that it will not be participating in the New Jersey health insurance exchange. The exchange is set to begin open enrollment on October 1 this year, and is meant to provide consumers with access to affordable health insurance plans. Aetna was expected to be a prominent participant in the exchange, but disagreements with state officials may have discouraged the company from participating in the state’s exchange. Aetna…

Health insurance rates in New York drop by 50%

July 23, 2013July 20, 2013 S.Vagus

Health insurance premiums are plummeting in New York Health insurance rates are rising throughout the U.S. as insurers prepare to comply with the various regulations being introduced with the Affordable Care Act. These regulations are placing more stringent requirements on insurers, effectively raising the costs associated with administration and general business while also lowering their ability to generate profit. In New York, however, health insurance rates for individuals could plummet due to the state’s health insurance exchange program. Officials approve 17 affordable plans from insurers New York officials have approved…