As the insurance news concerning the health industry begins to change, many are beginning to question how necessary insurance companies actually are. For centuries, insurers have provided access to policies that allow businesses and individuals to enjoy some degree of protection against unforeseeable events. People rely on insurance companies to handle the risks associated with daily life, but fall victim to the whims of these companies that are very much business oriented. When the Affordable Care Act was signed into law in 2010, it opened the way for a new…
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Report shows that employees in California will be paying more for their health insurance coverage
InstantHealthInsuranceQuotes.com, a premium aggregation website, has released a new report that shows how employees in California are beginning to pay more for their insurance coverage. The report suggests that employers are trickling down the cost of coverage to their employees in an attempt to offset the cost of insurance. This is largely due to the rate at which health insurance premiums are rising. Some employers claim that rates are rising to levels that they can no longer support without more help from workers. The company’s report is based on a…
Read MoreState of the Union: President Obama touches briefly on the issue of health care
President Obama delivered his third State of the Union on Tuesday. The president spoke about many issues concerning the U.S. in his speech, but only made one mention of the controversial Affordable Care Act he signed into law in 2010. In his address, the president noted that it was no longer possible for insurance companies to operate with impunity and must submit to new regulations that help protect consumers. Obama also stated that part of the goal of the health care reform law was to get rid of regulations that…
Read MoreCommissioner Dave Jones reflects on achievements a year after taking office
California Insurance Commissioner Dave Jones has been in office for a full year now and he has taken the occasion of this anniversary to reflect on the accomplishments he has been a part of from 2011. In a statement released by the state’s Department of Insurance, the Commissioner notes that his time in office has been filled with confrontation with the insurance industry. Indeed, many of the actions coming from the Commissioner have been met with opposition from insurers, especially the bid to give state regulators more authority over the…
Read MoreDepartment of Health and Human Services seizes control of rate review process in Arizona
Arizona insurance companies are falling prey to federal insurance regulators as the Department of Health and Human Services (HHS) seizes control of the rate review process in the state. Last year, federal regulators began reviewing rates proposals from a company that sought approval for a 40% increase. Regulators decried this as one of the most unreasonable rate proposals they had seen since the passing of the Affordable Care Act and have vowed to fully investigate proposals coming from 32 other health insurance companies. Federal regulators will be reviewing any proposal…
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