Tag: Missouri

Health insurance costs in Missouri and Kansas are cut down thanks to tax credits

Nordstrom
Flag of Kansas health insurance news

Tax credits lead to more affordable coverage for those in Missouri and Kansas Tax credits offered by the U.S. federal government are having a major impact on the cost of health insurance in Missouri and Kansas. These tax credits come from the Affordable Care Act, passed in 2010, and have helped make insurance coverage more accessible and less expensive. The credits are applied to policies that are sold through state-based insurance exchanges and are available to those that fall within a certain poverty level, as defined by the federal government.…

Read More

Missouri Legislature overturns Senate Bill 749

Birth Control insurance

Lawmakers dismantle Senate Bill 749 The Missouri Legislature has overridden a veto from Governor Jay Nixon concerning legislation that would have allowed consumers and businesses to opt out of insurance coverage providing benefits for certain types of birth control. The legislation, called Senate Bill 749, could have required employers to provide coverage for abortions, sterilization, and other forms of birth control through their insurance company. The Legislature voted on overriding the legislation this week with a 26-6 vote from the Senate. Bill allows employers and individuals to opt out of…

Read More

Mutual insurance companies subject to new regulations in Missouri

Nordstrom
Joplin Tornado Damage Statistics

Insurance changes come in the wake of Joplin tornado On May 22, 2011, a powerful tornado struck the town of Joplin, Missouri. The tornado was classified as an EF5 and was a catastrophic event that decimated much of the town. The tornado had caused $2.8 billion in damages to property and vehicles and claimed 158 lives. In the wake of the disaster, it was expected that the state would make revisions to its insurance regulations in an attempt to prevent fraud and protect consumers from the exploitation that ran rampant…

Read More

Missouri Department of Insurance releases report concerning 2011 natural disasters

The Missouri Department of Insurance has released its annual report for the year of 2011. The report notes that the state experienced many “firsts” in the U.S. insurance industry last year, many of which were brought about by calamitous natural disasters. These firsts included record breaking numbers of claims, the highest claims payouts in U.S history, and the largest amounts of claims funds recovered by Missouri insurance regulators. The Department of Insurance notes that, despite massive challenges, it was able to complete its mission of protecting Missouri residents throughout 2011.…

Read More

Oklahoma lawmakers look to expand liability protection to shelter providers

Lawmakers seek to provide comprehensive liability protection insurance… Last weekend, a number of powerful tornadoes swept through the state of Oklahoma, as well as its neighbors. According to the National Weather Service, 75 tornadoes touched down throughout the Midwest, many of which caused rampant damage throughout the region, especially in Oklahoma, where a powerful tornado claimed six lives. The total damage of the tornado outbreak is still be assessed by the insurance industry, but the event has spurred Oklahoma lawmakers to develop a comprehensive liability protection policy to help shelter…

Read More

Missouri Senate overturns Governor Nixon veto on worker’s compensation changes

Nordstrom

The Missouri Senate has overridden a veto from Governor Jay Nixon concerning the states worker’s compensation laws. Governor Nixon had vetoed a bill last month that would have imposed bans on some lawsuits regarding workplace injuries. The Senate voted to overturn this veto with a 24-9 vote, claiming that the ban would cause significant legal problems throughout the state. After overriding the veto from Governor Nixon, state legislators passed a bill that would stop employees from suing their co-workers for injuries they receive whilst working. This is not the only…

Read More

Missouri insurer finds criticism from state auditor

S.Vagus

Missouri’s largest provider of worker’s compensation insurance has come under fire from one of the state’s auditors, Tom Schweich. The Missouri Employers Mutual Insurance Company (MEM) is a state-backed insurance company created in 1993. Since its creation, the insurer has avoided paying federal taxes because of its claim to be a public corporation. Accusations of corruption led to the company’s agreeing to a one-time review from the state to ensure that its business practices were sound and that it was not misrepresenting itself for the sake of profit. According to…

Read More