The Self-Insurance Institute of America (SIIA) is challenging a new law in Michigan that would impose a 1% tax on paid health insurance claims beginning January, 2012. According to the law, the money collected from the tax will go to the state’s Medicaid program. The program would use part of the money to help cover the cost of claims and administrative fees stemming from participating insurance companies. The tax would generate $400 million in annual revenue for the state, but the Self-Insurance Institute claims that it violates federal law. According…
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Michigan lawmakers make changes to state’s unemployment insurance system
Several legislations were passed by the Michigan Legislature this week. Many of these legislations held provisions that will make deeper cuts to the state’s unemployment insurance system, if signed into law by Governor Rick Snyder. The state’s unemployment insurance system has already seen changes earlier in the year, when lawmakers passed new legislations that limited the maximum benefits people could receive. These new changes will have a profound impact on how benefits are calculated for residents and will change who is eligible to receive these benefits. The legislations aim to…
Read MoreMichigan’s unemployment insurance system to see reform next year
Governor Rick Snyder has plans to reform Michigan’s unemployment insurance system. According to the Governor, the reformation will reflect the administration’s plan to reinvigorate the state economy. Snyder has proposed a plan to the state Legislature he calls “work sharing.” Essentially, the plan would prevent employers from making layoffs by having them cut the hours given to their non-essential workforce. The Legislature is mulling over another plan to extend aid to those that have lost their jobs in an attempt to help them start their own businesses. Work sharing programs…
Read MoreAdequately insured motorcycle riders don’t require helmets
Motorcycle riders who carry enough motorcycle insurance – and who carry proof of that coverage – are now allowed to drive in Michigan without helmets following a preliminary vote in the state’s House that lifted that requirement. The legislation states that any motorcycle driver who is 21 years or older will be allowed to ride without wearing a helmet as long as he or she carries a minimum of $20,000 in medical coverage. Furthermore, the driver must have successfully completed an approved motorcycle safety course and must have at least…
Read MoreMichigan is home to the nation’s fourth worst insurance market, according to report
A recently released report from the American Medical Association casts some doubt on the insurance market in Michigan. The report shows that the state has the fourth least-competitive health insurance market in the U.S. The findings are the result of rigorous studies done throughout the country to find how many companies are actually participating in the various markets. The lackluster status of Michigan’s market may be due to the fact that Blue Cross Blue Shield encompasses the majority of the market. According to the report, the large insurance corporation controls…
Read MoreLegislators fight back against auto insurance changes in Michigan
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…
Read MoreInsurance industry backing a bill stopping medical marijuana claims from workers compensation coverage
The Insurance Institute of Michigan has revealed that the insurance industry in the state has supported a proposed law that would stop the workers compensation from being able to fund medical marijuana claims. There is already a bill being considered by the legislature in Michigan which would ban auto insurance companies from being allowed to provide payouts for medical marijuana as an part of accident claims. Some auto insurers have already been making these payments as there is some uncertainty connected to the law regarding medical marijuana in the state.…
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