New legislation in Michigan seeking to change the state’s auto insurance laws has found opposition with some of the state’s lawmakers. Michigan Democrats have taken issue with the pending legislation, claiming that it is unfair for some motorists that currently have trouble paying for the insurance coverage they have. The law would remove the cap on medical benefits provided through insurance coverage for those injured in auto accidents as well as broaden the requirement for the level of coverage drivers should have. Supporters of the legislation argue that it will…
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Florida Legislature may be looking to change how the state’s insurance industry works as fraud continues to grow unabated
According to experts, Florida’s auto insurance industry is currently facing the possibility of changes or the outright elimination to the no-fault system, which may provide drivers who are well-insured with an appealing decrease in premiums, but may also increase the price of basic policies. In Florida, drivers must have at least $10,000 in coverage for personal injury. However, Governor Rick Scott has stated that he would prefer to make this an optional protection. Personal injury protection (PIP) system critics are saying that scam artists are provided with incentive to stage…
Read MoreMichigan Supreme Court rules in favor of insurance company denying coverage for stem cell surgery
Stem cell research is a controversial issue. While the issue is primarily comprised of its uses in medicine, the controversy extends well into the insurance industry. As new methods of treatment emerge, insurance companies must weigh the risks involved with such treatments and what implications could be made to their policies. Most insurers cringe away from covering medical procedures that have a limited history of use, arguing that the risks involved with such things as stem cell surgeries are immeasurable. The fears insurers harbor over the issue may have been…
Read MoreWhat consumers should know when shopping for car insurance; cheap is not always better
Before you hit “Buy Now” consider this when online shopping for car insurance. It doesn’t matter what kind of car you drive, experts in the industry are reminding drivers that at the time of a collision, there is a significant difference between a good quality auto insurer and policy, and one that is weaker or that offers less. Many consumers are finding this out when trying to save money but learn that fly-by-night insurance carriers are not there for them nor have they been properly advised. Unfortunately, with budgets being tighten, many are…
Read MoreAmericans uninsured on the rise
An epidemic has swept across our nation. The number of people who are uninsured is over 13 million. There are about 1500 community care clinics across the United States. Many of those clinics will have their funding cut; if they even get government aid; many are funded on donations or private grants. Where do you turn when you’re ill and have no insurance? At last count, there were 43 states that made Medicaid unavailable for adults with no children. Even if you didn’t have a dime to your name; without…
Read MoreSteps towards health care reform insurance exchange programs
The Department of Health and Human Services has awarded $241 million to seven states to help fund their design and implementation of insurance exchanges. Awarded to “Early Innovator” states, the money will help establish the infrastructure needed to operate the exchanges. The HHS is encouraging that others follow the example set by these states when they begin building their own exchanges. The seven states, Kansas, Maryland, Massachusetts, New York, Oklahoma, Oregon, and Wisconsin, will share the funds – larger states will receive more than smaller states. They were selected based…
Read MoreCalifornia health insurers proposed rate hikes delayed
Early last month, California Insurance Commissioner, Dave Jones, called for a delay on a proposed rate hike on premiums from Blue Shield. The rate hikes would have raised premiums by at least 60% and would have gone into effect March 1st. Blue Shield has agreed to postpone the hikes for 60 days after becoming the focus of demonstrations from citizens and health care professionals. Blue Shield initiated proposed the rate hikes as a necessary measure in light of the rising cost of medical care and associated expenses. They claim that…
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