Live Insurance News

Massachusetts lawmaker aims to stop homeowners insurance rate increases

December 7, 2015December 6, 2015 G. Turner

After the losses from last winter that were greater than $1 billion, insurers have received approval for hikes. Although a decision has already been made to approve the homeowners insurance rates hikes that were requested by some of the top insurers in Massachusetts, the chairman of the Division of Insurance state Senate committee is now seeking to have that decision reconsidered by opening hearings to determine if those increases are truly justified. This is focused primarily on the rate increases approved for two of the largest insurers in the state.…

Health insurance and medication is growing more expensive in the US

December 7, 2015December 6, 2015 S.Vagus

Health care costs saw significant growth in 2014 Health care costs saw significant growth in 2014, according to the Centers for Medicare and Medicaid Services. The federal agency has noted that health care expenditures are accelerating, with consumers and businesses spending a great deal of money on insurance coverage. As costs continue to grow, consumers are beginning to feel significant financial pressure. Finding a way to reduce health insurance costs is beginning to become a priority for the country, but an effective solution has yet to be found. Centers for…

Could headlights be the secret to auto insurance savings?

December 4, 2015December 3, 2015 Julie Campbell

The Insurance Institute has been looking into research regarding the beams that light the way for drivers. Automakers are continually looking for new ways to be able to earn better safety ratings so they can stand above the competition with their awards, and among the considerations they may make to help keep auto insurance rates down for drivers in the near future may be in the headlights they install. According to the Insurance Institute for Highway Safety, it is coming up with a headlight rating program. Auto insurance companies and…

Tennessee health insurance co-op faces complaints from consumers

December 4, 2015December 3, 2015 Marc

Tennessee consumers are having problems with the state’s health insurance co-op, Community Health Alliance Tennessee’s Community Health Alliance, a health insurance co-op operating in the state, has become the subject of complaints being issued to the Tennessee Department of Commerce and Insurance. Now, the state agency is looking to hear from more people that may have had problems with the co-op in an effort to determine how outstanding problems can be resolved. At the end of the year, the co-op is expected to shut down, which will leave some 27,000…

New Jersey will not stop selling OMNIA health insurance plans

December 4, 2015December 3, 2015 S.Vagus

Acting Insurance Commissioner refuses to stop selling OMNIA plans New Jersey’s acting Insurance Commissioner, Richard Badolato, has refused to halt the sale of OMNIA health insurance plans coming from Horizon Blue Cross Blue Shield of New Jersey. Badolato suggests that stopping the sale of these policies would “immediately trigger chaos” in the state’s health insurance market. Earlier this month, 11 hospital systems requested that OMNIA plans no longer be allowed to be sold in the state, but New Jersey officials believe that this would be the wrong move. Consumers are…