Live Insurance News

California warns consumers to get health insurance coverage or face federal fines

January 16, 2015January 15, 2015 Marc

Covered California is encouraging consumers to purchase health insurance coverage California’s health insurance exchange is about to emphasize the potential fines that consumers could face by remaining uninsured. Covered California officials are warning consumers that the open enrollment period will be coming to an end soon, which means that those without health insurance coverage will face fines from the federal government for being uninsured. In order to help people avoid these fines, the state’s insurance exchange, which is the largest state-run exchange in the country, is taking steps to raise…

Auto insurance firm hit with $27.6 million fine

January 16, 2015January 15, 2015 S.Vagus

Mercury Insurance is being ordered to pay a large fine for wrongful fees issued to consumers The California Department of Insurance has ordered Mercury Insurance, one of the state’s largest auto insurance providers, to pay some $27.6 million in fines for allegedly charging consumers wrongful fees. This represents the largest fine issued against an auto insurance company in the state. Insurance Commissioner Dave Jones ordered the fine, accusing the insurer of charging broker fees that it did not approve of to begin with. Mercury Insurance believes that the fine is…

California health insurance exchange on track to reach enrollment goal

December 12, 2014December 11, 2014 Marc

California Health Insurance exchange popularity

Covered California is finding success in the most recent open enrollment period California’s health insurance exchange, Covered California, is reporting healthy enrollment numbers as the open enrollment period continues. The state has been working to promote the exchange as a place to find affordable insurance coverage for those that currently lack it. Promotional efforts seem to be paying off, as thousands of consumers have applied for coverage through Covered California. The state is currently on track to reach its goal of adding some 500,000 new consumers to the exchange during…

Medical groups team with Covered California to promote health insurance

December 5, 2014December 4, 2014 Nordstrom

Medical groups to work with state’s insurance exchange to promote coverage among consumers Medical groups are joining forces to promote health insurance coverage in California. The California Medical Association, along with various physician, hospital, and pharmaceutical groups, has partnered with Covered California, the state’s insurance exchange. Together, the groups will be encouraging consumers to enroll in the exchange and receive the insurance coverage that they need. The exchange’s open enrollment period began last month and will run through February 2015. Covered California aims to enroll 500,000 people during current enrollment…

Health insurance rates could spike in small states

November 13, 2014November 12, 2014 Nordstrom

Baby boomers relying more heavily on medical care could lead to a surge in spending Baby boomers are entering their “golden years” and this may have a significant impact on health insurance premiums for everyone else. An estimated 76 million people from the baby boomers generation are expected to create a surge in spending on prescription medications, health care, and hospice car. This may become a major financial issue for insurance companies, with insurers like UnitedHealth and WellPoint seeing few other options than raising rates. For some states, premiums may…

Health insurance regulators in California not awarded more power

November 10, 2014November 8, 2014 S.Vagus

California Proposition 45 has been defeated by voters amidst strong opposition to the measure Voters in California have decided to deny the passage of Proposition 45, which would have provided the state’s Insurance Commissioner, Dave Jones, and the state’s Department of Insurance, with the power to review health insurance rate increases. Under current law, state regulators cannot reject rate increases coming from insurers before these increases have been implemented. Commissioner Jones has been advocating for more regulatory power for some time, claiming that tougher regulations would be a benefit to…

Lyft’s auto insurance policy falls under more scrutiny

November 7, 2014November 6, 2014 S.Vagus

Fatal accident puts more focus on ride share insurance coverage A fatal car accident in California may put ride share company Lyft’s auto insurance to the test. The company has been under heavy scrutiny recently regarding its insurance coverage. Some lawmakers have questioned whether Lyft’s coverage was adequate enough to cover accidents and any damage that would be caused by such events. Some had introduced new legislation that would hold ride share companies to higher insurance standards, and these companies had been heavily resistant to such legislative efforts in the…