Live Insurance News

Health insurance company to put its individual PPO plans to rest

August 5, 2015August 5, 2015 Marc

Blue Cross Blue Shield of Texas will begin phasing out its PPO coverage Blue Cross Blue Shield of Texas has announced that it will be phasing out its PPO coverage for individuals. The health insurance providers is doing so because it believes that offering this coverage is no longer financial sustainable. Those with PPO coverage from the insurer will have to switch to HMO plans as a result. Notably, the company’s PPO plans will continue to be offered to employers and group PPO plans will still be available. Cost of…

Health insurance gap remains large in Texas Hispanic population

August 3, 2015July 31, 2015 G. Turner

A new study has shown that this ethnic community still finds costs to be prohibitively high. According to the outcome of the research conducted by a team at the Baker Institute from Rice University, the health insurance gap among the middle aged, lower income, and Hispanic populations. Affordability was cited among the top reasons that many people in those communities remained uninsured. The research team from the Baker Institute worked along with the Episcopal Health Foundation in order to prepare a number of briefs that would provide a better understanding…

Farmers reaches settlement in homeowners insurance case

July 10, 2015July 9, 2015 S.Vagus

Insurer finalizes a settlement for a lawsuit that it has been fighting since 2002 Many Texas residents may receive refunds from Farmers Insurance Group as the company has reached a settlement in a lawsuit from 2002. The lawsuit involves policyholders paying higher premiums for less coverage, and state regulators found that this had been the case after examining many complaints issued against the company. The insurer will be paying $84.4 million per the settlement, which will be issued to policyholders that are eligible for refunds from the company. State regulators…

Homeowners insurance premiums expected to drop in Texas

June 22, 2015June 20, 2015 S.Vagus

Legislation may help lower the insurance premiums for homeowners in coastal areas Coastal property owners in Texas may get a break in their homeowners insurance premiums. A new law that aims to reconfigure the Texas Windstorm Insurance Agency is set to go into effect. The organization provides insurance coverage for those that live in coastal areas, and offers protection from the damage caused by windstorms and similar disasters. The law is meant to decrease the homeowners insurance premiums for those receiving coverage through the Texas Windstorm Insurance Agency. Texas has…

New health insurance legislation passed in Texas

June 3, 2015June 1, 2015 Marc

Health insurance cards for policies sold through state exchange will have a QHP label New legislation in Texas will place a special label on all health insurance cards for those that have purchased plans through the state’s exchange. This label — QHP — will be affixed to insurance cards to denote that policyholders have purchased coverage through the state’s exchange. The label stands for “qualified health plans,” which are policies that are approved to be sold through the health insurance exchange marketplace. This may serve as a “teachable” moment for…