Problematic provision has been rescinded by FEMA The U.S. Federal Emergency Management Agency has rescinded a provision of the 2012 Biggert Waters Act as ordered by the Homeowner Flood Insurance Affordability Act. The provision had made it impossible for new homeowners to take on any existing flood insurance of properties. Now that the provision has been repealed, policy rate tables have been reverted to what they had been before the 2012 Biggert Waters Act. Rate tables are expected to remain in this state as Congress works to address emerging issues…
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Agents may be responsible for success of state’s health insurance exchange
Insurance exchange reaches enrollment goals with the help of agents California officials have been boasting about the state’s insurance exchange achieving its enrollment goals, but insurance agents, rather than the exchange itself, may be the reason behind the high rate of enrollments. Covered California has been working to market its insurance services to consumers throughout the state for several months. The exchange encountered modest technical difficulties that had made the enrollment process problematic for many people, but these issues were overcome fairly quickly. Despite other problems, the exchange was able…
Read MoreInsurance CEOs are getting paid more in wake of health care reform
Insurance executives may be the ones benefiting most from the Affordable Care Act Chief executive officers from some of the largest health insurance companies in the U.S. have seen their pay skyrocket recently. The steep increase in pay CEOs have been seeing is, somewhat ironically, due to the Affordable Care Act. This is ironic because the insurance companies benefiting from this trend have actually been quite outspoken with their opposition of the federal health care reform law. This issue may go a long way in highlighting just how important political…
Read MoreHomeowners insurance rates in Kansas are on the rise
Insurance is growing more costly due to natural disasters in the past Kansas homeowners insurance rates are on the rise and it may be because of storms in the past. In 2011, the state suffered the most financial damaging storm season it has ever seen. An outbreak of tornadoes and hundreds of hailstorms punished Kansas, causing an estimated $1.1 billion in insured losses. The majority of these losses came from damage to homes and properties and 2011 accounted for the costliest financial blow that the state’s insurance sector had ever…
Read MoreDoctors in Texas find an alternative to health insurance
Direct primary care model may be ideal for some doctors Doctors in Texas may be pushing for an alternative to health insurance that they call “direct primary care.” Both the state and federal government have been working to address the financial issues of insurance coverage for Texas residents. Insurance costs are high throughout the state, which insurers suggest is due to the rising cost of medical care and various other factors. Doctors, however, believe that the cost of insurance coverage may be prohibiting people from receiving the care that they…
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