Live Insurance News

Massachusetts aims to overhaul its health insurance program, MassHealth

April 22, 2016April 26, 2016 S.Vagus

State introduces plans to make changes to its troubled insurance program Massachusetts Governor Charlie Baker, along with other officials, has drafted new plans to overhaul the state’s Medicaid program, called MassHealth. This will be the largest overhaul that the program has seen in the past 20 years, marking a significant shift in the health insurance space and potentially ensuring that more consumers will have access to the coverage that they need. MassHealth currently provides coverage to some 1.8 million low-income people throughout the states and represents that majority of the…

Massachusetts to investigate homeowners insurance rate increases

September 24, 2015September 23, 2015 Logan B.

Senate panel to look into the rate at which homeowners insurance premiums are growing Homeowners in Massachusetts have been reeling from major insurance hikes in recent years. Many insurers have been raising rates by significant margins due to record snowfall over the past winter. Homeowners have expressed their concerns regarding the rate increases, which have placed them under a greater degree of financial stress. Now, state lawmakers are looking into the issue to determine whether or not the rate increases are necessary. Panel will be interviewing insurance professionals and regulators…

Homeowners insurance premiums continue to rise in Massachusetts

September 17, 2015September 16, 2015 Logan B.

State’s homeowners are expressing anger about higher premiums Homeowners in Massachusetts are growing more frustrated with high insurance premiums. The Massachusetts Division of Insurance has taken a step to help consumers better understand why rates are rising so quickly by making the rate review process open to the public. The decision may provide more transparency when it comes to increasing homeowners insurance rates. It is unlikely, however, that this will reduce the frustration that consumers are feeling when it comes to insurance premiums. Division of Insurance will provide more transparency…

Health insurance rates to go up in Massachusetts

September 2, 2015September 1, 2015 Marc

Consumers and businesses will see a modest increase in insurance premiums Health insurance premiums are set to grow in Massachusetts, as regulators have approved rate increases for small groups and individuals. The state will see a modest increase in rates when compared to others in the country. The Massachusetts Division of Insurance has posted information concerning the rate increases, providing consumers with an opportunity to review the rate increases coming from insurers and see how it will affect them and the coverage that they have. 300,000 people to be affected…

Senate to investigate growing homeowners insurance premiums in Massachusetts

August 12, 2015August 11, 2015 Nordstrom

Senate panel will uncover the necessity of homeowners insurance rate hikes Homeowners insurance premiums are spiking in Massachusetts, and a new Senate panel intends to look into the issue. The Senate’s Post Audit and Oversight Committee will be investigating the Massachusetts Division of Insurance and its approval of costly homeowners insurance rate increases. Senator Michael Barrett will be leading the Senate panel in the investigation. Depending on the findings of the investigation, homeowners in Massachusetts could eventually see some relief to growing homeowners insurance rates. State regulators approve rate increases…

State to investigate homeowners insurance rate hikes

July 31, 2015July 30, 2015 S.Vagus

Massachusetts launches inquiry into growing homeowners insurance premiums The Massachusetts Senate will be launching an inquiry into “troubling homeowners insurance rate increases.” Several homeowners in the state have been hit by large increases as insurers sought to recover from financial losses due to heavy snowfall last winter. Last year, record snowfall caused significant damage to property and loss of business, which placed more pressure on insurers who now want to recover from these losses. This is somewhat typical for the insurance industry, especially in the wake of significant natural disasters.…

Boston 2024 releases information about policies it wants from the insurance industry

July 29, 2015July 28, 2015 S.Vagus

New information emerges about the policies the state is interested in for the 2024 Olympics Boston, Massachusetts, is looking to play host to the 2024 Summer Olympic Games, and those behind the Boston 2024 initiative have released more information about the insurance proposals they believe will provide coverage for those attending the Games. Boston 2024 is responsible for the push to bring the Olympic Games to Massachusetts. The committee behind the initiative has been working on overcoming challenges that prevent the Games from coming to the state by working with…