Live Insurance News

Why Home Insurance Is Becoming Unaffordable for Many Americans

January 18, 2025January 17, 2025 Logan B.

Homeowners Insurance Under Pressure Amid Climate Challenges The rising costs of living are hitting homeowners hard in unexpected ways. A newly released report by the U.S. Department of the Treasury’s Federal Insurance Office (FIO) shines a spotlight on a troubling trend—home insurance is becoming not only more expensive but also increasingly challenging to obtain. This comes as climate-related disasters continue to test the resilience of both insurers and customers. Here’s what this comprehensive study reveals and how it impacts millions of Americans. Rising Costs of Homeowners Insurance If you’ve noticed…

California’s Home Insurance Crisis Amid Rising Claims Denials

January 16, 2025January 15, 2025 Logan B.

Growing Denials Leave Homeowners Vulnerable California’s homeowners faced significant challenges in 2023 as leading insurance companies denied nearly half of all claims, far exceeding the national average. A report by Weiss Ratings revealed that some of the state’s top insurers, including Farmers (50%), USAA (48%), and Allstate (46%), topped the list for denied claims. This comes as insurers deal with increasing exposures to climate-related disasters like wildfires, hurricanes, and flooding. While some insurers show alarming claim denial numbers, others demonstrate relatively better performance. Among these are two affiliates of AAA,…

Massive $21 Billion Medicare Boost Set to Transform Senior Healthcare in 2026

January 14, 2025January 13, 2025 Logan B.

Proposed 2026 Medicare Advantage Reimbursement Rates See Positive Growth The Centers for Medicare & Medicaid Services (CMS) has proposed a 2.2% increase in reimbursement rates for Medicare Advantage (MA) plans in 2026, marking a sharp improvement from the 0.2% decline seen the previous year. When factoring in the 2.1% “risk score” adjustment to account for higher payments for individuals with severe health conditions, the total estimated increase in payments rises to 4.3%—equivalent to more than $21 billion. This proposal is poised to have a significant impact on insurers, healthcare beneficiaries,…

Massachusetts Court Orders UnitedHealthcare Affiliates to Refund Millions to Victims

January 10, 2025January 10, 2025 Logan B.

Massachusetts Court orders Unitedhealthcare refund

UnitedHealthcare-Affiliated Insurers Ordered to Pay $165 Million for Misleading Consumers Historic Ruling Against Deceptive Sales Practices A Massachusetts Superior Court has ordered HealthMarkets Inc. and its subsidiaries, The Chesapeake Life Insurance Company and HealthMarkets Insurance Agency, to pay $165 million for engaging in what the court described as “egregious” and widespread deceptive practices. These companies, owned by UnitedHealth Group, have been found guilty of misleading thousands of Massachusetts consumers into purchasing supplemental health insurance policies they did not need or fully understand they were buying. This judgment—comprising $50 million in…

Work-Related Stress Compensation Reform in New York – Understanding S.B. 755

January 10, 2025January 10, 2025 Logan B.

The Stress Debate and Who Really Deserves Compensation? The New York State Senate is set to deliberate on S.B. 755, a bill proposing significant amendments to the workers’ compensation law passed in December 2024. This 2024 statute opened a pathway for employees experiencing “extraordinary work-related stress” to file compensation claims, broadening access to mental health support in the workplace. However, S.B. 755 seeks to narrow this scope, limiting eligibility for such claims to first responders only. If adopted, the bill would focus on professions such as police officers, firefighters, paramedics,…