Insurance companies in Kentucky have been granted a waiver from a provision of the health care law that requires insurers to spend at least 80% of the money they collect from premiums on improving medical care. The waiver does not remove mandate, however, and insurers will still need to spend 75% of their premiums toward medical care. According to federal law, if companies do not follow this mandate, they must refund the money to policyholders. The state’s Department of Insurance petitioned the federal government for a waiver in an effort…
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Town’s enforce emergency response fees
Many cash-strapped cities across the U.S. are beginning to charge citizens for fire department calls. This is one method of many, which city officials have turned to; hoping to raise additional money for their broke and struggling city deficits. In Louisville Kentucky, a small, suburban town will begin to charge citizens for services that cost (what they consider) above the normal. Claiming it’s just a way to cover their budget. The charges will actually be billed to the home or business owner’s insurance company. Across the nation city officials have been tasked…
Read MoreKentucky passes bill in hopes to lower fraud activity
The legislative department of Kentucky passed a bill that regulates the requirements of the federal government tax requirements on insurance for surplus lines as well claims for auto personal insurance that involve fraud. The bill was passed as the end of the legislative session is getting near. A measure was submitted by the lawmakers regarding lawyers who immediately get in contact with victims of car accidents offering their services. Called HB 382, this measure does not allow any unauthorized individual to contact a victim of a motor vehicle accident within…
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