California health insurance industry being eyeballed Consumer Watchdog, a non-profit advocacy group focused on the insurance industry, has proposed a new ballot initiative to the California Legislature that would put a stop on rising health insurance premiums. The organization claims that the state’s largest insurance companies have increased premiums by 20% since April 1, 2012. Consumer Watchdog suggests that these companies will raise rates a second time in May, and increase that will likely be 20% again. These higher rates have affected more than 1 million Californians, many of whom…
Read MoreTag: insurance commissioner dave jones
California insurance regulators clash with insurers over coverage for small businesses
California insurance regulators are pushing for new legislation that would institute limitations on a controversial form of health insurance that is targeting small businesses. This coverage is a type of self-insurance that is designed for businesses with 25 or fewer employees. Regulators claim that these policies are being used by health insurers to find companies with the healthiest workers, lowering their risk of costly payouts. Insurance Commissioner Dave Jones is concerned that these policies undermine one of the key principles of the Affordable Care Act: Lowering premiums by allowing insurers…
Read MoreCalifornia insurance regulators target GeoVera Insurance, imposing fines and requiring the company to make changes to underwriting
California insurance regulators have taken action against GeoVera Insurance Co., providers of residential earthquake insurance, this week. Regulators took notice of the company after having received a multitude of complaints from policyholders. According to these complaints, the insurer’s underwriting procedures are not as adequate as they are supposed to be. Regulators have investigated the matter and found that the insurer’s practices were indeed falling short of the state’s standards. GeoVera will be facing major changes as regulators look to make the company more compliant with state laws. The insurer will…
Read MoreCalifornia insurance commissioner issues report card for PPO
The California Department of Insurance has released the quality of care report card by insurance commissioner Dave Jones, called the “2012 Preferred Provider Organization (PPO)”. According to Jones, this report is a useful resource which provides consumers with a larger amount of practical data about the quality of the care they can expect to receive, so that they are better able to make decisions that will meet their healthcare requirements. He added that “I want to encourage all Californians to take a look at the findings of the PPO report…
Read MoreConstruction subcontractors in California applaud announcement by insurance commissioner Jones
California insurance commissioner Dave Jones has made an announcement regarding the 57 felony charges that were laid against a business owner in Millbrae, including workers’ compensation insurance fraud and payroll theft. The California Professional Association of Specialty Contractors (CALPASC) has worked along with the Painting and Decorating Contractors of California (PDCC) and other allied associations, as an element of the LEVEL Program, in order to assist state agencies in the targeting and identification of deceitful construction industry employers who are scamming the state and costing Californians millions of dollars, as…
Read More
