Author: S.Vagus

Progressive to launch new app to help drivers save money on auto insurance

S.Vagus
usage based insurance dashboard

New app will work in tandem with insurer’s Snapshot program Progressive Insurance has begun developing a new pilot mobile application that may allow drivers to earn discounts on their auto insurance coverage. The insurer has chosen Censio to develop the software for the new mobile application, which will be based on Progressive’s usage-based insurance program, called Snapshot. This type of insurance coverage is becoming more popular among consumers, especially as they look for ways to save money on the coverage they have. Usage-based auto insurance continues to attract more interest…

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New health insurance model to be tested in seven states

S.Vagus
U.S. Health Insurance

CMS announces that a new health insurance model will be tested to reduce the cost of medical care A new health insurance model is set to be tested in the United States, according to an announcement made by the Centers for Medicare & Medicaid Service (CMS). The model was designed to improve medical care while also cutting costs and the concept behind the model was designed over the course of 10 years at the University of Michigan. Called the Medicare Advantage Value-Based Insurance Design Model, the program is meant to…

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Nevada health insurance co-op to shut down in 2016

S.Vagus
Nevada health insurance commissioner State Legislature Building

State’s insurance co-op will cease operations on January 1, 2016 Nevada’s health insurance co-op will be closing down on January 1 next year. The co-op was established through the Affordable Care Act and serves as a non-profit insurance organization that is meant to provide consumers with more options when it comes to affordable coverage. The problem, however, is that the co-op has struggled to meet its enrollment goals and has failed to generate profits, which has lead to a troubling financial situation that it is not able to recover from.…

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National Flood Insurance Program continues to struggle from financial losses

S.Vagus
flood insurance rates

10 years after Hurricane Katrina, federal program is still financially crippled More than 10 years have passed since Hurricane Katrina hit the United States, and many homeowners are still reeling from the damage caused by the catastrophe. Homeowners faced one of the most expensive disasters in the history of the country and its insurance industry, with some $80 billion in losses, with another $16.1 billion in flood insurance claims. The hurricane, as well as other storms that hit the country between 2008 and 2012, caused serious problems to the National…

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Health insurance premiums to see a modest rise in Florida

S.Vagus
Florida health insurance

Florida regulators announce rate hikes for policies sold through exchange The Florida Office of Insurance Regulation has announced that it has approved an increase in health insurance premiums for coverage sold through the state’s exchange. Florida’s insurance exchange in managed by the federal government, and consumers looking for policies can find them through HealthCare.gov, the federal exchange network. The rate increases in Florida are more modest than what is being reported in other states and consumers are expected to experience a small increase in premiums for coverage in 2016. Premiums…

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Health insurance premiums are on the rise in Michigan

S.Vagus
cash money subsidy health insurance deductibles

Michigan insurers are raising rates on coverage, but by a modest degree Insurance premiums in Michigan are set to rise next year. The Michigan Department of Insurance and Financial Services has approved rate increase proposals that will affect small businesses and individuals in 2016. For small group health insurance coverage, rates will rise by a very modest degree, while those with individual coverage will see a greater increase in their premiums beginning next year. Rate proposals were approved in order to allow insurers to recover from losses they had experienced…

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UNLV students are paying more for their health insurance coverage

S.Vagus
college student health insurance accident

Premiums for Student Health Insurance Plan coverage are on the rise Students at the University of Nevada, Las Vegas, (UNLV) are facing growing health insurance premiums. Those that receive coverage through the school’s Student Health Insurance Plan, which provides policies for undergraduates, may be facing rate shock, as premiums continue to climb significantly. Growing premiums are forcing some students to seek coverage through the state’s health insurance exchange, which is designed to serve as an alternative to conventional insurance markets, allowing consumers to find affordable coverage. Average premium for coverage…

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