Live Insurance News

Oregon regulators say new wildfire risk map won’t raise insurance rates

August 17, 2022August 16, 2022 G. Turner

State officials said that they don’t intend to use the new map for purposes that include determining coverage. According to regulators in Oregon, the new wildfire risk map created for the state will not lead to increased insurance rates as has been the worry among many home and business owners. Financial regulators released a statement saying that the speculations of this nature are unfounded. The story was covered by Live Insurance News earlier this month, as predictions of increased insurance rates abounded. That said, according to regulators, insurers in the…

Four health insurance companies violated mental health coverage law

March 6, 2017March 3, 2017 Logan B.

The state of Oregon has accused four insurers in failing to cover certain treatments including one for autism. The state of Oregon is currently calculating potential fines for four health insurance companies that failed to comply with the law for covering certain mental health treatments, including one for autism. State law requires insurance companies to provide mental and physical coverage in a similar way. The regulation in Oregon states that health insurance companies “cannot categorically deny coverage,” for mental health care and therapies, such as for Applied Behavior Analysis (ABA),…

Second Oregon health insurance co-op facing liquidation

July 11, 2016July 9, 2016 H. Cutner

The market in the State is continuing to experience a shakeup as a nonprofit insurer must liquidate assets. For the second time, an Oregon health insurance co-op has received a receivership order. This started last week and will now be sending Health Co-op assets into liquidation after facing notable financial struggles. The insurance company was a nonprofit and was consumer-operated, created under the ACA. The Oregon health insurance company’s board of directors voted on Friday. Their decision was to consent to the receivership order from state regulators. This takes the…

Open enrollment for health insurance exchanges is coming to an end

January 15, 2016January 13, 2016 Marc

Deadline for consumers to purchase coverage is rapidly approaching For those without health insurance coverage, time is running out to acquire coverage in the United States. The open enrollment period for insurance exchanges will come to an end on January 31 this year. After the enrollment period is over, consumers will no longer be able to use exchanges to purchase health insurance coverage, except in some special cases. Currently, those without coverage can find policies through HealthCare.gov, the exchange system established by the federal government. Uninsured consumers will face a…

Insurance co-op in Oregon shutting down

October 19, 2015October 18, 2015 G. Turner

The state is losing a cooperative from its 2016 marketplace, as it has started a “wind down of business”. An Oregon insurance co-op is now stepping out of the state’s health plan market for next year as it has entered into a “wind down of business”, claiming that the recent announcement from the government that it will honor only 12.6 percent of the risk corridor payment of insurers is to blame. This withdrawal of the co-op will mean that there will be 15,000 members in the state without coverage. The…

Student health plan may launch at the University of Oregon

May 28, 2015May 27, 2015 Julie Campbell

college student health insurance accident

The college is considering the creation of its own self-insured coverage that it would call UOCare. The University of Oregon has now decided to consider the creation of its own student health plan in order to provide insurance to those who are enrolled at the college, in order to help to make certain that those who are enrolled are also covered. Should the university self-insure, it will affect both new and returning students for the term starting in the fall. The student health plan would include the on-campus healthcare plus…

Wildfire insurance could continue in Oregon, but at a cost

April 6, 2015April 5, 2015 G. Turner

California wildfire insurance fire season homeowners

The state will be able to continue to purchase its unique coverage, but with a higher deductible and premium. Lloyd’s of London has now offered Oregon wildfire insurance coverage of up to $25 million for the upcoming season, but it will involve a greater expense than in previous years and the deductible will be notably higher. For instance, the coverage that will be provided will kick in only after the state has paid a $50 million deductible. After that deductible has been paid, the wildfire insurance coverage being provided by…