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…
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Lowest health insurance competition found to be in Alabama
According to a recent report from the Kaiser Family Foundation, the least competitive market for health insurance in the United States is in Alabama. The Kaiser Family Foundation is a nonprofit health policy organization and released the report which showed that 86 percent of the policies in the individual market in Alabama were sold by Blue Cross Blue Shield. In the small group market in that state, that insurer sold 96 percent of the policies. Though the report did indicate that individual insurers hold the majority of the insurance markets…
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