Tag: Massachusetts insurance

Allstate makes a return to Massachusetts after 25 year absence

S.Vagus
Allstate Insurance company

Allstate returns to Massachusetts as regulations grow lax Allstate Insurance has announced that it is opening its first office in Massachusetts in over 25 years. The insurer had abandoned the state a quarter century ago due to its strict regulations concerning auto insurance rates. These regulations have seemed to be relaxed, however, creating an opportunity for Allstate to make its return. The insurer will be offering up auto insurance policies in the state by the end of the year. Auto insurance regulations drove away Allstate in the past The last…

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Workers compensation rate increase proposal rejected in Massachusetts

Julie Campbell
Joseph Murphy, the Massachusetts Insurance Commissioner on workers compensation plan

State Division of Insurance turns down the requested changes. The Massachusetts Division of Insurance has revealed that they have rejected the proposal that was made to increase the rates for workers compensation by 18.8 percent. The outcome of this will bring about no changes to the rates. The decision was made after having undergone a hearing process that lasted five months. The result is that there will not be any change to the current workers compensation rate. According to a statement from the Division of Insurance, this is expected to…

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Massachusetts residents to see insurance rate increases

S.Vagus
Ohio health insurance

Regulators approve rate increase proposal The Massachusetts Division of Insurance has announced the approval of a health insurance rate increase throughout the state. The increase is expected to have an effect on individuals and small businesses and will come from one of the state’s largest insurance companies. Initially, insurers had sought approval for large rate increases, typically 10% or higher. State regulators, however, have succeeded in keeping rate hikes at or below the 2% threshold for nearly two years running. With health care reform bringing significant changes to health insurance…

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Massachusetts Commonwealth Care program brings more benefits to consumers

Marc
Health Insurance plans

Health insurance program gets a thumbs up Massachusetts health insurance exchange seems to be faring well, despite concerns that an exchange is not a viable solution to the current problems within the insurance industry. The exchange, called the Massachusetts Commonwealth Care program, has been operating since 2006, when it was established by legislation that is today being referred to as Romneycare, after Mitt Romney, who presided as governor of Massachusetts. The program was subjected to early criticism but has recently been showing strong results despite economic turmoil and a changing…

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Massachusetts insurance exchange awarded funds to help it fall in line with the Affordable Care Act

Massachusetts is currently one of the few states that has a working insurance exchange in place. The state’s online marketplace has been a boon for those looking for affordable health insurance policies but it does not comply with the standards established by the Affordable Care Act. Instead of requiring the state to scrap the project and start from scratch, the Centers for Medicare & Medicaid Services, and auxiliary arm of the Department of Health and Human Services, has awarded the state with funding to help legislators make necessary changes. He…

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