Trustmark Life Insurance Co. has run afoul of federal insurance regulators who claim that the company has raised rates for health insurance to unreasonable levels. The insurer has raised rates in five states by at least 13%, according to the Department of Health and Human Services. These states are Arizona, Virginia, Wyoming, Pennsylvania and Alabama. The Affordable Care Act requires insurers to submit their rate proposals for federal review if…

The Pennsylvania Insurance Department has had its authority over insurance rates for small employer health care policies expanded this week. On Thursday, Governor Tom Corbett signed Senate Bill 1336 into law, giving regulators the power to adjust the insurance rates in the small group market. For the first time, state insurance regulators will be able to review and disapprove new rate proposals coming from insurers. They will also be able…

United States Senator Bob Casey (D-PA), has addressed Insurance Commissioner Michael Consedine, of Pennsylvania, and has asked for assistance for homeowners in covering themselves against the devastation that can be caused by sinkholes. What Senator Casey has called for is the help of the insurance industry to make homeowners more aware of what overage they have to protect them against the cost of sinkhole damages in the event that one…

Pennsylvania’s Insurance Commissioner may soon be getting more authority to influence the terms of health insurance policies as a new bill gains approval from the state’s Senate Banking and Insurance Committee. The bill would allow the commissioner to extend terms of contracts formed between Highmark Inc., one of the state’s largest insurance companies, and UPMC, a health care provider. The Commissioner would also gain the power to affect policies coming…

A new bill passed in Pennsylvania has consumer advocacy groups a little worried about the state’s future health insurance program. The bill in question was passed by the state Senate on Wednesday requires all health insurers in the state to submit their rate proposals to regulators for review if they are seeking increases of 10% or higher. While legislators claim that more regulations will help ensure insurance companies do not…

The Department of Health and Human Services has exercised one of the new authorities it has been granted under the Affordable Care Act this week. The agency has denied a rate proposal request from Everence Insurance of Pennsylvania. This marks the first time the agency has made use of its new authority over the nation’s insurance companies. Everence Insurance must now rework their rate proposal so that it aligns with…

Pennsylvania’s Department of Insurance is urging lawmakers to pass laws concerning the building of a health insurance exchange. The department has begun noting the benefits of such a program, claiming that it will help residents find affordable coverage and help bring more competition to the state’s insurance market. The advocacy from the department comes at the end of a lengthy study conducted by regulators and state legislators concerning the benefits…

Open enrollment season for health insurance has come to Pennsylvania and the state’s insurance regulators are urging consumers to weigh their options before making any decisions on coverage. Insurance Commissioner Mike Consedine released a statement yesterday in which he outlined the benefits of evaluating multiple insurance policies and state-run programs. Policies from other insurance companies may be more beneficial for a person’s needs than those offered by their current insurer….