Live Insurance News

California health insurance initiative has qualified for the ballot in 2014

August 30, 2012April 30, 2013

This change in the regulation of the industry will be voted on in just over two years. A California health insurance industry regulation initiative has now qualified to be added to the ballot in November 2014. This initiative will increase the regulation on the rates that are set by insurers. The measure was drafted by Consumer Watchdog, a consumer advocacy group based in Santa Monica, after the legislation for the regulation of California health insurance rates fell short last year in the previous effort. Its approval could change the face…

California health insurance rates may soon be on the rise for small businesses

June 16, 2012April 30, 2013

A proposed increase will mean premiums that are over 10 percent higher for smaller firms. Some California health insurance companies have proposed a rate increase for small business plans which will bring the price up by more than 10 percent and could become effective as soon as July or August. This proposal has drawn notable criticism from regulators in the state. Aetna, which has already received the scrutiny of state officials earlier in 2012, is now planning to hike up its premiums by an average of 10 percent, with increases…

California health insurance rate regulation to save medical industry $23 million

April 13, 2012April 30, 2013

A rate regulation for California health insurance that was implemented about two months ago has already managed to save doctors and other medical care and service providers approximately $23 million from excessive premiums for malpractice coverage. This regulation was put into place by the California Department of Insurance and has managed to decrease the premiums that these medical professionals must pay by eliminating unjustified amounts that were being added to their malpractice coverage costs. The regulation authority put the rule into place by using prior approval. That said, while it…