Health insurance regulations continue to cause problems Insurance Commissioners throughout the U.S. have been placed in a difficult situation. Earlier this month, President Obama announced that insurance companies could continue to honor substandard health insurance policies rather than cancelling these policies because they do not comply with the standards of the Affordable Care Act. This is meant to create a transition period wherein consumers can have a reprieve from cancellations and insurers can better prepare to comply with federal law. The problem, however, is that many Insurance Commissioners have been…
Read MoreTag: montana
Montana releases estimates concerning costs of health insurance exchange policies
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…
Read MoreHealth insurance landscape shifts in Montana
Montana sees major transition in health insurance sector Montana has taken a major step in the field of health insurance. The state’s Insurance Commissioner, Monica Lindeen, has granted her approval for the sale of Blue Cross of Montana, the state’s largest private health insurance provider. Blue Cross of Montana is being sold to the Health Care Service Corp., which is based in Chicago, Illinois. The sale comes with numerous conditions, however, which are meant to benefit state residents to some degree. Sale of Blue Cross of Montana has been approved…
Read MoreHealth Insurance Rate Review Act gains support
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…
Read More