On Monday, Kathleen Sebelius, Secretary of the Department of Health and Human Services, unveiled a sleuth of federal rules that are to be used in governing health insurance exchanges. The rules, which will be in effect regardless of whether states choose to set up and exchanges themselves or pass that burden to the federal government, have a particular leaning in favor of insurers. This has drawn sharp criticism from legislators and the public, as the exchange programs have always been lauded as being consumer friendly. Now, there are concerns that…
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Insurers lobby for segregation from the international banking system, turn to Obama for aid
The U.S. government is being asked to support a new measure before the U.N. that would separate banks and insurance companies from the Financial Stability Board’s efforts to overhaul the international banking system. Several insurance company trade groups have been partitioning President Obama to join other G20 leaders in these efforts, hoping that the added support will affect the measure toward their goals. Insurers are concerned with this issue because one set of regulations is being used to govern both banking institutions and insurance companies. Given the recent failings of…
Read MoreAlabama Governor erects new panel to investigate the state’s shaken insurance market
A new panel has been set up in Alabama by Governor Robert Bentley comprised of 24 of the state’s insurance and business officials as well as several regulatory figures. The panel is tasked with investigating the state’s insurance market in the wake of deadly tornadoes that ravaged the state, along with its neighbors, two months ago. The original intent of the panel was to focus their investigation to coastal areas, spurred by the forecasts of a tumultuous hurricane season. The effort has been expanded, however, to account for the toll…
Read MoreGovernor Corbett signs reform legislation for civil liability in Pennsylvania
Pennsylvania Governor Tom Corbett has signed a bill that would place a limitation on the liability of defendants in some negligence cases in civil court. The bill was put to a vote in the state House, where it was passed 116 to 83. This was the second similar bill that has been passed within three months. After the vote, it moved to Corbett. This despite the protests of Democrats, who said that the bill is being pursued by business organizations, but that it comes at the cost of the victims…
Read MoreNew bill in Maine calls for lawmakers to pay health insurance tax
Republican legislators in Maine have proposed a new bill that would levy a $4 monthly health insurance tax throughout the state. The bill notably exempts federal and state employees from the tax, drawing harsh criticism from both Democrats and citizens. Democrats had submitted amendments to the bill late last week that would remove the exemption for lawmakers, but the notion was dismissed by Republicans. However, Senator Richard Whittemore, R-Skowhegan, issued an emergency legislation that would require state legislators to be included in the tax. The reasoning behind the proposed tax…
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