Texas health insurance providers are discontinuing certain policies

Texas health Insurance companies

Many Texans have been receiving letters informing them that their coverage won’t be available next year. All across the state, Texas health insurance customers have been receiving the letters that they don’t want to receive, which have been telling them that their insurers won’t be continuing their policies and that they will need to start shopping for new coverage for next year. The letters have informed them that even though they have made their payments on time, their health plans are canceled. These Texas health insurance policies have been discontinued,…

Read More

Texas insurance regulatory system may be seized by federal regulators if the state’s Department of Insurance is not granted more authority

The Texas Department of Insurance has been reviewing health insurance rate proposals since the Affordable Care Act was passed in 2010. Regulators have been scrutinizing any insurer that aims to raise rates by 10% or higher, but their efforts may be in vain. According to the Department of Insurance, regulators do not have the authority to block any rate proposal that they deem excessive. They also do not have the means to distribute information regarding rate hikes amongst consumers. This is because the state does not have the laws to…

Read More

Texas insurance bill promises transparency

Texas is making a move to ensure the transparency of the state’s insurance industry. Legislators are toiling over a bill, dubbed the Texas Insurance Awareness and Affordability Act, which will require insurers to provide exhaustive information regarding any changes in policies. There have been growing concerns about how insurers determine their rate hikes recently, driving demand for more transparency. The bill is seeking to garner explanations on proposed premium increases in a language that everyone can understand. State insurers would be requires, upon changes in policy, to provide a side-by-side…

Read More