Live Insurance News

Health insurance premiums to see a modest rise in Florida

August 28, 2015August 27, 2015 S.Vagus

Florida regulators announce rate hikes for policies sold through exchange The Florida Office of Insurance Regulation has announced that it has approved an increase in health insurance premiums for coverage sold through the state’s exchange. Florida’s insurance exchange in managed by the federal government, and consumers looking for policies can find them through HealthCare.gov, the federal exchange network. The rate increases in Florida are more modest than what is being reported in other states and consumers are expected to experience a small increase in premiums for coverage in 2016. Premiums…

Supreme Court ruling secures health insurance for 1.3 million people in Florida

July 22, 2015July 21, 2015 Marc

Ruling from the Supreme Court has ensured that many consumers get to keep their coverage The recent ruling from the Supreme Court on the King v. Burwell case will have a beneficial impact on those with health insurance coverage in Florida. Some 1.3 million consumers will be able to keep their insurance coverage, supported by subsidies, due to the ruling from the Supreme Court. The King v. Burwell case had caused concerns among many that received subsidized coverage, as it called into question whether or not the federal government can…

Lawmakers begin to focus on flood insurance in Florida

July 17, 2015July 16, 2015 S.Vagus

Florida introduces new legislation that could have an impact of flood insurance premiums Florida lawmakers are beginning to focus their attention on flood insurance. Some are calling for an extension for the Homeowner Flood Insurance Affordability Act, which was passed in 2014 as a way to reduce the insurance premiums that homeowners were paying for their coverage. The law is meant to limit premiums increases to no more than 18% in a given year, making flood protection less of a financial burden for consumers. Legislation would assist in the development…

Florida Senate approves ambitious health insurance plan

June 10, 2015June 8, 2015 S.Vagus

Florida Health Insurance Affordability Exchange has received approval from the Senate The Florida Senate has approved a health insurance plan that could expand insurance coverage to a greater number of people. The plan is called the Florida Health Insurance Affordability Exchange, and involves providing those without insurance, and the underinsured, with coverage if they qualify for the program’s services. The state’s Senate approved of the plan this week, but it still faces significant opposition as it moves on to the Florida House of Representatives. Changes to the plan ease the…

Florida-run homeowners insurance provider sheds more policies

May 13, 2015May 11, 2015 S.Vagus

Florida homeowners insurance, Citizens Property

Citizens Property Insurance removed more policies More than 30,000 homeowners insurance policies have been removed from Florida’s Citizens Property Insurance. These policies were removed as depopulation efforts continue by the insurer. These efforts are meant to reduce the overall number of policies that Citizens is responsible for, thereby reducing its financial responsibilities and making the insurer more sustainable in the future. The depopulation was sparked by serious issues the insurer faced in the wake of serious natural disasters that it did not have the financial capability to handle on its…