Illinois insurance rates on the rise According to the March state filings by a number of insurance companies, some residents of Illinois will soon be receiving the unwelcome news that the coverage that they require for their homes and vehicles will soon be rising. For example, Hanover Insurance has filed a proposal to increase their rates for homeowners’ insurance by an average of 4.9 percent. This rise will go into effect for the renewals on July 11, 2012. Similarly, the filing from Unitrin Preferred Insurance Co., has shown that they…
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Changes to Illinois health insurance up for vote
Illinois Governor Pat Quinn is expected to make a decision on a bill arriving at his desk today. The State’s House of Representatives passed legislation— by a sweeping majority of 98-15 – that would keep the state’s health insurance contracts intact for the next two years. This conflicts with Quinn’s move to change the state’s health insurance carrier, a measure that would have left more than 100,000 government workers in need of new coverage. The bill will also reopen the health insurance procurement process and allow the state’s insurers to…
Read MoreIllinois state insurance may be getting a new carrier
Controversy abounds in Illinois. State legislators have received a significant amount of criticism from the public for their decision to change health insurance providers. The switch has an effect on more than 100,000 state employees and their dependants. Furthermore, lawmakers have been embroiled in a struggle to better define the authority of the Commission on Government Forecasting and Accountability (COFGA) has over the insurance industry. The Senate recently voted to allow COFGA the authority to approve applicable health insurance contracts for state workers. Senator Dale Righter, a supporter of the…
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