Live Insurance News

Affordable Care Act stirring rage in California

January 24, 2013January 24, 2013 Dan

Affordable Care Act spurs insurers to raise rates Since the passage of the Affordable Care Act in 2010, health insurance companies have been warning of a nationwide rate increase that could introduce new financial pressures to consumers throughout the U.S. Insurers claim that the provisions of the health care law are responsible for the possibility of higher rates. The law requires insurance companies to take more aggressive measures on the types of coverage they provide, the administration of the companies themselves, as well as expand the eligibility of insurance coverage.…

Covered California wins additional funding from federal government

January 22, 2013January 22, 2013 Nordstrom

Covered California receives $674 million grant The California health insurance exchange, which is called Covered California, has been awarded an additional $674 million in funds from the federal government. The funds will help with the development and launch of Covered California, as well as power the marketing campaign that will promote the health insurance exchange. The funds will be issued to the state over the next two years, with part of this grant to be used after Covered California officially begins operation in 2014. Funds to be used to market…

Anthem Blue Cross seeks to raise rates in California

November 30, 2012April 30, 2013

Anthem Blue Cross aims for rate increase of an average 18% California’s Anthem Blue Cross, the state’s largest for-profit health insurance company, is looking to raise rates on individual policies by an average of 18%. The rate increase proposal has put the insurer at odds with state insurance regulators once again. Anthem Blue Cross has proposed rate increases regularly in the hopes of addressing issues it considers to be important, including the rising cost of medical care. Regulators have renewed their scrutiny of the health insurance company to determine whether…

Covered California exchange program set in stone

November 17, 2012November 17, 2012 Nordstrom

Covered California plan approved by governing board The board that is meant to govern California’s efforts to build its own health insurance exchange have approved the operational plans for the program. This is a major step towards the state running its own health insurance exchange program and complying with federal deadlines. The California Health Benefit Exchange board, which has changed the name of the exchange program to Covered California, has sent its approval for the operational plans to the Governor’s Office, which is expected to forward these plans to the…

Auto insurance rates in California show major disparity

November 15, 2012November 14, 2012 Marc

Analysis highlights disparity in auto insurance prices Auto insurance in California has been in a turbulent state for the past several months. Last week, the 2012 presidential campaign came to an end, also marking the end of an auto insurance reform bill that had won a great deal of support from the auto insurance industry. The bill was steeped in controversy, but was expected to bring some benefits to consumers in the state and help alleviate some of the problems that exist in the insurance market. A new analysis of…

California health care reform moves on

November 10, 2012 Marc

Obama victory adds momentum to California heatlh care reform efforts President Obama has won a second term, and this may be good news for California lawmakers who are eager to institute the next phase of their California health care reform plans. California is one of several states that has been making quick and decisive progress on complying with the Affordable Care Act. The state was the first in the country to pass laws concerning the establishment of its own health insurance exchange, and now lawmakers are looking to take advantage…

Auto insurance industry backs California Proposition 33

October 30, 2012October 28, 2012 S.Vagus

Proposition 33 could have major implications for auto insurance In California, Proposition 33 has won the support of the insurance industry. The legislative measure is designed to allow consumers that have held policies in good standing with the same auto insurance company for five years to switch companies and still receive so called “loyalty benefits.” Though Proposition 33 seems straightforward, it has created some controversy in the world of auto insurance and with some special interest groups. Nonetheless, many in the insurance industry support the measure, claiming that it will…