Tag: north carolina

North Carolina homeowners insurance rate hike paused for now

Logan B.
Releigh, Capital of North Carolina homeowners insurance rates

The NC insurance commissioner declined the price increase for the moment, but the halt is temporary. A recent request for a North Carolina homeowners insurance rate hike has been declined. This saves state residents from having to pay an average of 18.7 percent more for their home coverage. That said, the reprieve from the increased prices is only a temporary one as the rates will eventually rise. In the state, its commissioner must approve any North Carolina homeowners insurance rate changes. Though the industry requested the rate hike, it was…

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North Carolina auto insurance customers will be paying more for coverage

G. Turner
north carolina auto insurance

Rates are expected to rise for many drivers in October, though the increase is less than what it might have been. North Carolina auto insurance rates may be on the rise in October, but drivers could have seen a much higher hike if regulators hadn’t stepped in. The state Department of Insurance signed a settlement agreement with the N.C. Rate Bureau to allow for a considerably lower rate increase than initially proposed. Insurance Commissioner Mike Causey made the announcement regarding the settlement agreement signing. Initially, the state Rate Bureau requested…

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Health insurance benefits improve infant mortality rates

Logan B.
baby health insurance benefits infant mortality

A new study conducted by NC Child revealed that these rates are closely linked to coverage. Children’s health care advocacy group, NC Child, released the outcome of a recent health insurance benefits study it conducted. The organization looks into best health practices by collecting data from North Carolina families and communities. This most recent research looked specifically at the infant mortality rates and their relationship with health plans. The study indicated a direct relationship between health insurance benefits and improved infant mortality rates. NC Child director of research and data,…

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Health insurance provider Blue Cross Blue Shield may face fines in North Carolina

Nordstrom
Blue Cross Blue Shield health insurance

North Carolina Department of Insurance may issue fines against Blue Cross Blue Shield Blue Cross Blue Shield may be facing significant fines in North Carolina due to “unprecedented administrative failures,” according to the state’s Insurance Commissioner, Wayne Goodwin. The Commissioner intends to levy the maximum permissible fines against the health insurance provider as the insurers goes into its third month of enrollment and billing issues. The North Carolina Department of Insurance claims that it has received more than 8,700 calls and 1,900 formal complaints concerning Blue Cross Blue Shield this…

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North Carolina health insurance companies owe $8.5 million in rebates

Logan B.
U.S. Health Insurance

Insurers must return some $8.5 million in premiums to consumers and businesses Health insurance companies in North Carolina will be reimbursing consumers and businesses some $8.5 million, according to the state Insurance Commissioner Wayne Goodwin. These insurers have failed to comply with the medical loss ratio, a provision of the Affordable Care Act that requires insurers to spend no less than 80% of the money they collect through premiums on medical care. For insurers providing coverage to businesses, the medical loss ratio is set at 85%. Medical loss ratio continues…

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