Live Insurance News

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,…

What the Proposed Rate Hikes Mean for North Carolina Homeowners Insurance Policies

January 13, 2025January 13, 2025 Nordstrom

North Carolina Faces Rising Homeowners’ Insurance Rates Background on the Rate Increase Proposal North Carolina homeowners are bracing for a significant decision regarding a substantial proposed increase in homeowners’ insurance premiums. The North Carolina Rate Bureau (NCRB), representing private insurance companies, has requested an average statewide rate hike of 42.2%. Insurers argue that escalating costs due to natural disasters, repair expenses, and reinsurance premiums necessitate the increase. While the proposed hike averages 42.2%, coastal areas like Emerald Isle and Swansboro could see skyrocketing increases ranging from 71.4% to 99%. Meanwhile,…

Louisiana Homeowners Score Relief as Property Insurance Fees Drop Early

January 13, 2025January 13, 2025 Angela Linders

Loiusiana Homeowners Property Insurance fee drop

Louisiana Insurance Relief: Ending the 1.36% Assessment Louisiana property insurance policyholders are poised to experience some financial relief this year as the Louisiana Citizens Property Insurance Corporation (Louisiana Citizens) implements significant changes to reduce costs. The most notable adjustment is the early termination of a 1.36% statewide assessment on residential and commercial property insurance policies. Originally scheduled to conclude in June 2026, the assessment will now end in April. This fee was introduced to pay off bonds associated with claims from hurricanes Katrina and Rita. Louisiana Citizens, the state-run insurer…

California Health Insurance Law SB 1120 Takes a Stand Against AI-Driven Health Insurance Denials

January 11, 2025January 10, 2025 Angela Linders

California Enacts SB 1120 to Rein in AI-Powered Health Insurance Decisions California has taken a groundbreaking step in regulating the role of artificial intelligence (AI) in health insurance decision-making. Senate Bill 1120 (SB 1120), also known as the “Physicians Make Decisions Act,” prohibits health insurers from denying, delaying, or altering claims solely based on AI algorithms. Signed into law by Governor Gavin Newsom, this legislation ensures human oversight in healthcare coverage decisions, addressing mounting public concerns about fairness and accuracy in the use of AI technologies. Effective as of January…

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…