Live Insurance News

Health insurance rate increases may be on their way to Illinois

June 21, 2016June 19, 2016 Logan B.

That said, there is no way for consumers to know for sure until the information is released on August 1. Residents of Illinois are going to have to wait a while before they will know if health insurance rate increases are coming. The information about the proposed premiums changes under the Affordable Care Act for next year isn’t available until August 1. It is at that time that the health exchange plan premiums information will be made public within the state. To many in Illinois, having to wait until August…

Illinois can no longer pay health insurance claims for state employees

September 22, 2015September 19, 2015 Logan B.

State agency cannot cover the cost of claims The Illinois Department of Central Management Services has announced that it will no longer be able to pay state employee health insurance claims without a state budget. The claims are coming from those that receive coverage through the State Employees Group Insurance Program. Since the agency can no longer pay for the claims being made by policyholders, some 150,000 people could face higher out-of-pocket costs associated with their health insurance coverage. Those with self-insured plans will be hit the hardest by lack…

Ad campaign in Illinois seeks to promote health insurance among young adults

November 26, 2014November 25, 2014 S.Vagus

New ad campaign launched in Illinois to connect with young consumers A new ad campaign has been launched in Illinois that seeks to raise awareness about health insurance and the state’s exchange. The new campaign has a very specific focus on young adults, a notoriously elusive market for the health insurance industry. Many young adults believe themselves to be proverbially invincible and see little need for insurance coverage of any kind. Others see insurance as an expensive investment that will never benefit them and avoid coverage in order to save…

Health insurance refunds coming to 75,000 retired Illinois workers

November 25, 2014November 22, 2014 Logan B.

State workers to receive insurance refunds from the state due to ruling by the Illinois Supreme Court Approximately 75,000 retired Illinois workers may be receiving refunds on their health insurance coverage in February next year. The refunds are part of an ongoing legal battle that began centered on a law that was passed in 2012. The law required retired workers to cover the insurance costs with a portion of their pensions. A recent ruling from the Illinois Supreme Court requires insurance companies to return this money to policyholders. State law…

Health insurance rate proposals opened to the public in Illinois

August 8, 2014August 5, 2014 Nordstrom

State officials make rate filings from insurers open to the public Illinois officials have granted the public with access to rate proposals filed by the state’s health insurance companies. These proposals contain detailed information about the rates that insurance companies charge for the coverage that they provide. Insurers have submitted proposals for rate increases recently, which will affect policies in 2015, and many companies have had to offer sufficient evidence that these rate increases are necessary. State officials believe that such information should be available to the public. State residents…