Live Insurance News

California health insurance exchange revises payment deadline

January 8, 2014January 6, 2014 Marc

Covered California offers people more time to pay for their coverage The California health insurance exchange, called Covered California, has recently witnessed a massive influx of new enrollees which has caused exchange officials to revise the deadline on payments for insurance coverage. Policies sold through Covered California went active on January 1 and that had been the initial payment deadline for those that have received coverage through the exchange. Policyholders will now have more time to pay for their coverage due to a revised payment deadline. New deadline set for…

California health insurance exchange still has challenges to overcome

December 13, 2013December 10, 2013 S.Vagus

Exchange has a backlog of over 25,000 physical applications The California health insurance exchange, called Covered California, has a backlog of over 25,000 paper applications. Consumers have been scrambling to apply for coverage through the state-run exchange, but have encountered several problems in doing so over the Internet. The exchange suffered from crippling technical issues during the early stages of its launch, but many of these issues have been resolved. Unfortunately, those seeking out coverage through physical applications have encountered other problems that have left them in the dark concerning…

Health insurance issues place regulators in a difficult position

November 26, 2013November 25, 2013 Logan B.

Health insurance regulations continue to cause problems Insurance Commissioners throughout the U.S. have been placed in a difficult situation. Earlier this month, President Obama announced that insurance companies could continue to honor substandard health insurance policies rather than cancelling these policies because they do not comply with the standards of the Affordable Care Act. This is meant to create a transition period wherein consumers can have a reprieve from cancellations and insurers can better prepare to comply with federal law. The problem, however, is that many Insurance Commissioners have been…

Flood insurance rates spike in California

November 21, 2013November 19, 2013 S.Vagus

California homeowners may soon contend with higher flood insurance premiums A sudden increase of flood insurance rates in the U.S. may soon force people from their homes. Rising flood insurance costs have become quite common in states like Florida and Louisiana, both of which experience a high degree of exposure to natural disasters. Homeowners in the San Francisco Bay Area may be feeling a great deal of financial pressure from the latest hike in flood insurance rates, however. For many, this coverage may soon become too costly to manage. Rates…

Report highlights growth of auto insurance rates in the US

November 20, 2013November 19, 2013 Logan B.

Auto insurance rates have been on the rise for the past 25 years The Consumer Federation of America has released a new study highlighting auto insurance rates throughout the U.S. According to the study, auto insurance rates have been on the rise for the past 25 years. The only state that has shown any significant average decrease in these rates has been California. As auto insurance rates continue to rise throughout the country, coverage may be getting too expensive for some drivers to afford. This could lead to many people…