Tag: united states

Many consumers lack an understanding of health insurance terms

S.Vagus
us health insurance reform

New study highlights the education problem that pervades the insurance sector Health insurance in the United States has evolved since the Affordable Care Act and many consumers may still be unaware of how marketplaces have changed. A new study from the Episcopal Health Foundation and the Rice University Baker Institute for Public Policy shows that many people still do not understand certain insurance terms. This lack of understanding is highest among those who have purchased coverage through state insurance exchanges. Some 1.3 million people have acquired coverage, but nearly half…

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Lawmakers seek to postpone reforms to the National Flood Insurance Program

S.Vagus
texas flood insurance insurance claims hurricane ike 2008

Congressmen aim to halt needed reforms in order to limit the growth of premiums Federal lawmakers are looking to make changes to the National Flood Insurance Program (NFIP), but some are pushing to postpone much needed reforms. Representatives David Jolly and Gus Bilirakis have introduced a new measure that seeks to put reforms for the federal program on hold. NFIP is currently $23 billion in debt, with no practical way to repay this money. Congress has been working to resolve the program’s financial issues for some time, but proposed reforms…

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Flood insurance premiums to grow in the US

S.Vagus
flood insurance news

Homeowners will face higher flood premiums as of April 1 Flood insurance premiums in the United States are set to spike on April 1. Those with coverage through the National Flood Insurance Program (NFIP) will see higher rates as the program continues to recover from its massive $24 billion debt. Much of the debt came in the wake of Hurricane Katrina and Hurricane Sandy. These two disasters caused significant financial damage, which NFIP has been unable to recover from despite action taken by Congress. Consumers believe higher rates may be…

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Chubb bundles cyber bullying coverage with its homeowners insurance policies

Nordstrom
Chubb homeowners Insurance

Chubb is now offering coverage for cyber bullying Insurer Chubb Limited has announced that it will be adding cyber bullying to its homeowners insurance policies. These policies will cover several costs, including those associated with mental health treatment, legal expenses, and lost wages. For many, cyber bullying is a very real issue that can cause significant trauma. Since the advent of the Internet, those with malicious intent have targeted various types of people, some doing so for the sake of entertainment. Chubb intends to provide these people with some degree…

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Taxpayers to commit $660 billion for health insurance subsidies in the US

S.Vagus
Health Insurance Expense

Subsidies to help cover the cost of coverage for those over the age of 65 are growing This year, taxpayers in the United States will commit more than $660 billion to help subsidize health insurance coverage for those over the age of 65, according to the. The federal agency has released one of its most comprehensive reports concerning the cost of subsidized insurance coverage, highlighting the potential these subsidies have to reduce the national deficit. According to the report, the 2016 tax bill accounts for 3.6% of the country’s gross…

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