Health insurance policies throughout US could face cancelation

Health Insurance policies

Affordable Care Act may cause mass cancellation of health insurance policies In the U.S., the Affordable Care Act is meant to make health insurance coverage more available to a wider range of consumers. The federal health care law initially received strong praise for its provisions that would allow consumers to find the health insurance coverage they needed without being met with staunch rejection from private insurance companies. The problem, however, is that the law’s provisions may actually lead to many people losing their health insurance coverage as the law takes effect in…

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Insurance news being made by Amy Grant and her father

Insurance News Amy Grant NAIC

The Grammy award winning singer has announced her support for the NAIC in light of her dad’s health. The National Association of Insurance Commissioners has placed itself in the insurance news spotlight, as it makes headlines through the support that it has received through Amy Grant. The musician has been speaking about the importance of coverage to protect consumers against the unexpected. Grant has been making insurance news headlines as she highlights the benefits of purchasing policies to guard against damaging events. She explained that “Planning ahead and getting smart…

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Insurance regulators pass controversial resolution to amend the Affordable Care

The National Association of Insurance Commissioners (NAIC) gathered this week to vote on a controversial resolution that would have drastic effects on a consumer protection clause of the Affordable Care Act. The provision would have saved consumers nationwide approximately $1 billion in premiums while offering them protections from future rate hikes. The provision is also part of the controversial medical loss ratio provision of the health care law – which requires insurers to pay no less than 80% of their premium money on medical care. Regulators have been divided on…

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Smokers are increasingly required to pay more for their health insurance

Starting on January 1, 2012, Dallas County employees in Texas will be required to pay an additional monthly $50 on their health insurance premiums if they smoke. This increase in premiums will not be charged to nonsmokers, but will also apply to each of the employee’s family members who smoke and who are covered by the health insurance plan provided by the county through the worker’s employment. According to Dallas County, there will be a medical cost savings of $500,000 as soon as next year as a result of this…

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NAIC survey reveals ways consumers have been saving money on car insurance

The National Association of Insurance Commissioners (NAIC) has released the results of a survey that determined the top ways that consumers have made lifestyle changes within the last year in order to save money with their car use to reduce their insurance fees. Over the last twelve months, 53 percent of Americans made this type of change with car insurance costs in mind. The insurance commissioners’ survey showed that the following changes were made by consumers: Among automobile owners, almost 20 percent exchanged their car for a less costly model…

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