Tag: Montana insurance

Montana releases estimates concerning costs of health insurance exchange policies

Nordstrom
montana Health insurance

State provides estimates concerning cost of health insurance policies sold through exchange Montana has become the latest state in which estimates concerning the rates for policies sold through the state’s health insurance exchange have been released. The state’s Office of the Commissioner of Securities and Insurance has released these estimates in order to give state residents a glimpse at what they could be paying for coverage purchased through the federally-operated insurance exchange. The exchange is meant to provide Montana residents with access to affordable health insurance coverage and is a…

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Life insurance companies are the focus of a new law in Montana

Life Insurance News

A new bill has just been signed by the state governor that requires firms to search for beneficiaries. Governor Steve Bullock has just signed a new Montana bill that will require that life insurance companies always search for policy beneficiaries when the policyholder has died. This is the case even when there have not been any claims submitted following the policyholder’s death. The bill was created as a response to a number of settlement agreements that have been made across the country in which life insurance companies had been charged…

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Health Insurance Rate Review Act gains support

Marc
Montana Senator Jon Tester

Health Insurance Rate Review Act earns the support of Montana Senator Montana Senator Jon Tester has announced his support of a new legislation that would give states the ability to block what they consider unreasonable health insurance rate hikes. The legislation is known as the Health Insurance Rate Review Act and will grant state Insurance Commissioners expanded authority over rate proposals coming from health insurance companies. Per the legislation, regulators will be able to deny or modify increases to health insurance rates. They will also be able to require insurers…

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Debate over illegal workers covered for “while at work” injuries

H. Cutner

Illegal immigrants have once again moved to the forefront of public debate. Now, the various law makers, and state governing boards, are trying to come to a “middle of the road” agreement. What prompted all of this? It seems that a few states have taken a stand against compensating illegal immigrants who are injured at their job. Which prompts another question; how did these illegal immigrants get jobs? The best-guess numbers say that five percent of the U.S. workforce is (illegal) immigrants.  The estimate is there are around eight million…

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Captive Insurance Companies: New Money Saving Trends for Businesses

S.Vagus

Officials from Helena, Montana, are reporting that an increasing number of businesses and organizations are forming their own insurance companies in an effort to manage costs. These impromptu coalitions are being called “captive” insurance companies. The specific objective of these companies is to finance or insure the risk of their parent groups. Steve Matthews of the State Auditor’s Office says that the trend is to keep insurance premium taxes from leaving the state. In 2010, Montana licensed 26 captive insurance companies, bringing the total number of such companies in the…

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