A new law that will expand the authority of the Pennsylvania Department of Insurance has taken effect this week. The law was introduced last year and won approval from the state’s legislators. Governor Tom Corbett signed the bill, Act 134, into law late last year, with an enactment date of March 21, 2012. The law is nearly identical to similar legislation in California that gave regulators more authority over rate proposals coming from insurance companies. Legislators believe that new authority granted to the Department of Insurance will help protect consumers…
Read MoreTag: pennsylvania small group health insurance
Pennsylvania insurance bill has consumer advocates on edge
A new bill passed in Pennsylvania has consumer advocacy groups a little worried about the state’s future health insurance program. The bill in question was passed by the state Senate on Wednesday requires all health insurers in the state to submit their rate proposals to regulators for review if they are seeking increases of 10% or higher. While legislators claim that more regulations will help ensure insurance companies do not enact excessive rate increased, consumer advocacy group Pennsylvania Health Access Network, says that the bill compromises the protections of small…
Read MorePennsylvania Insurance Commissioner encourages consumers to take advantage of open enrollment season
Open enrollment season for health insurance has come to Pennsylvania and the state’s insurance regulators are urging consumers to weigh their options before making any decisions on coverage. Insurance Commissioner Mike Consedine released a statement yesterday in which he outlined the benefits of evaluating multiple insurance policies and state-run programs. Policies from other insurance companies may be more beneficial for a person’s needs than those offered by their current insurer. Keeping an eye out for such policies can net significant savings. Some employers may begin offering a wide variety of…
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