New supplemental insurance law passed in Massachusetts

Supplemental Insurance

Governor Patrick signs supplemental insurance legislation into law A new law that eliminates the cap on insurance payments for non-medical hospital expenses has gone into effect in Massachusetts. Governor Deval Patrick has signed a bill that would remove the payment cap, which had been placed on supplemental health insurance policies that are meant to provide aid for non-medical expenses. Massachusetts had been the only state in the country that had placed payment limits on such coverage. Law has removed the cap placed on insurance payments for non-medical hospital visitis The…

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Massachusetts residents to see insurance rate increases

Ohio health insurance

Regulators approve rate increase proposal The Massachusetts Division of Insurance has announced the approval of a health insurance rate increase throughout the state. The increase is expected to have an effect on individuals and small businesses and will come from one of the state’s largest insurance companies. Initially, insurers had sought approval for large rate increases, typically 10% or higher. State regulators, however, have succeeded in keeping rate hikes at or below the 2% threshold for nearly two years running. With health care reform bringing significant changes to health insurance…

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Massachusetts insurers banned from using credit score to price auto insurance, according to new law

A new law has passed in Massachusetts that will ban insurers from pricing auto insurance based upon socioeconomic factors. Governor Deval Patrick signed the associated bill into law this week and believes that it will afford consumers with more protections against insurers constantly on the lookout for extra money. The ban was already enacted in the state some months ago but existed only as an administrative regulation. The bill’s passage comes after months of legislative struggle and conflict between consumer advocacy groups and insurance companies. Insurers opposing the measure claim…

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Insurers in Massachusetts gain approval for health insurance rate increases

Massachusetts insurance regulators have approved a number of rate increase proposals from some of the state’s largest health insurance companies. Governor Deval Patrick supports the approval, citing rising health care costs that threaten to make an already ill economy more volatile. Consumer advocacy groups have decried the rate increases, saying that they put undue financial stress on those struggling to make ends meet. Regulators, however, have only approved proposals whose increases were less than 9% in the hopes of lightening the impact of higher rates. Blue Cross Blue Shield has…

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Massachusetts picks up the pieces after violent tornadoes rip through towns

Massachusetts is now recuperating from deadly tornadoes that recently wrecked havoc upon residents of 19 small communities in its central and western regions. It was one that caught the state by surprise, leaving many in a state of shock. Although, the city has been used to dealing with snow and extreme colds, residents of Massachusetts where taken off guard with a series of seven deadly twisters.  At least three people in West Springfield and Brimfield died as a result and over 200 reported injured. While also leaving over 48,000 people…

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