Live Insurance News

Disability insurance could cost Canadians $600 million to repay veterans

October 5, 2012April 30, 2013

Cost sharing health plan makes insurance news

The ruling to compensate disabled vets for their military pensions comes with a high price. The recent ruling that the Canadian government must compensate veterans with disability insurance payments as a part of their military pensions with retroactive payments that span back nearly four decades could be an extremely costly one. The internal estimates produced by the government have shown that this could cost $600 million. They have also stated that this figure may be on the low side of the scale. At the end of last week, the attorneys…

Disability insurance benefits are not awarded properly 1 out of 4 times

September 21, 2012April 30, 2013

A Senate report is showing that 25 percent of cases are potentially unnecessarily costing taxpayers millions. A new report from the Senate is showing that one quarter of disability insurance benefits awarded by the Social Security Administration were done improperly between the years 2006 and 2010, which could possibly have cost millions of dollars to taxpayers. The findings were the result of an investigation that was held over eighteen months. The research was performed by the chamber’s Permanent Subcommittee on Investigations. What it discovered that approximately one out of every…

Insurance news from the NHLPA shows strict efforts to restore coverage

September 21, 2012April 30, 2013

The policies may have been cancelled, but the Players’ Association is working to bring it back. This week, the NHL Players’ Association made insurance news by informing its members that it would be paying for the restoration costs of all of the coverage that the league has cut off from the players and their families following the week before last. Players’ Association members, including Sidney Crosby, were cut off by the league on Monday. A memo from the NHLPA explained that “NHL has instructed the insurers to cancel all insurance…

California workers compensation insurance overhauled

September 20, 2012September 20, 2012 Nordstrom

California Insurance Commissioner rejects workers compensation rate hike for the third time

Governor signs workers compensation insurance legislation into law California Governor Jerry Brown has signed into law a legislation that will increase the disability insurance benefits workers receive if they are injured on the job. The legislation aims to provide workers with benefits more fitting to the rising costs of worker’s compensation insurance premiums. These premiums have been growing in California, largely due to the growing costs of medical care associated with workplace injuries and the prevalence of fraud. The legislation was approved by the state Legislature last month, but was…

Workers compensation bill signed by California governor

September 19, 2012April 30, 2013

California Governor Jerry Brown on Workers Compensation bill

Gov. Jerry Brown has approved the bill to revamp the state’s injured employee insurance program. California Governor Jerry Brown has added his signature to a bill that will help to boost the workers compensation disability benefits for employees who are injured on the job, while at the same time keeping the cost of the premiums under control. The bill was first approved by lawmakers last month, on the final day of session. A rush was placed on the workers compensation bill’s approval after Brown, himself, gave a personal appeal for…

California lawmakers renovate workplace injury coverage

September 10, 2012September 8, 2012 H. Cutner

Insurance industry risks - Banana Peel Survey

A new bill has been approved to give the system in the state a complete overhaul. Lawmakers in California have announced their latest insurance news by sharing that they have approved a bill that has the support of both labor groups and businesses, in order to give an overhaul to the coverage system in the state for employees injured on the job. This bill received tremendous bipartisan support in the state’s Democrat dominated legislature. The bill received its approval just in time for the completion of this year’s session, boosting…

New program for Medicaid in New Hampshire receives approval

September 7, 2012September 6, 2012 H. Cutner

Medicaid health insurance program in New Hampshire

The federal government has given the nod to the managed care plan. Officials from the federal government have given New Hampshire their approval to move forward with the implementation of a Medicare health insurance program managed care system for the poor and disabled in the state. The changes to the current system were expected to save the state approximately $16 million. That savings would have applied to this fiscal year, but unfortunately, it won’t be put into place until the end of the year, so the savings won’t start to…