Live Insurance News

Health insurance rates may be going up in Alabama

June 4, 2015June 2, 2015 Nordstrom

Insurers seek rate increases Health insurance premiums for policies sold through the Alabama exchange could be rising by a significant margin. Blue Cross Blue Shield of Alabama, which sells policies through the exchange, is requesting a rate increase averaging 28%. This rate increase would affect individual plans. For the Blue Choice Platinum – Individual plan that the insurer offers, rates could go up as much as 71%. The rate increases are expected to affect some 175,000 people. Average cost of UnitedHealthcare plans could grow by 24.5% Another insurer is also…

State agency modifies health insurance rate increase proposals

October 13, 2014October 11, 2014 Logan B.

Connecticut Insurance Department modifies some proposals, rejects others The Connecticut Insurance Department has modified rate proposals from health insurance companies for policies that will offer coverage in 2015. The agency has modified rate proposals from some of the state’s largest insurers, including Aetna and UnitedHealthcare. Some rate proposals were rejected, while insurers were required by the agency to change their proposals in order to reduce the financial pressure that consumers experience from the coverage. Some of the rate proposals that the agency has modified have to do with policies that…

New health insurance company expanding into New Jersey

September 30, 2014September 27, 2014 Marc

Oscar Health Insurance will offer coverage through the state’s insurance exchange for the next open enrollment period New Jersey residents that will be shopping for health insurance through the state’s exchange will have more options beginning on November 15 this year. Oscar Health Insurance, a startup that was launched last year in New York, has announced that it is expanding to New Jersey. The insurer covers some 16,000 people in New York and has won praise from its customers. The insurer will be participating in New Jersey’s insurance exchange when…

Connecticut regulators deny rate proposals from two health insurance companies

August 5, 2014August 2, 2014 S.Vagus

Regulators deny insurers the ability to raise rates on 2015 policies The Connecticut Insurance Department has denied rate increase proposals from two insurance companies that had sought approval to raise premiums by at least 12% in 2015. One of the companies seeking an increase in premiums was Anthem Blue Cross, which had wanted approval to increase its rates by an average of 12.5%. State regulators have deemed this request “excessive” and denied the proposal, requiring the insurer to submit a new rate proposal for policies it plans to sell in…

Insurers are flocking to Illinois health insurance exchange

June 16, 2014June 13, 2014 Logan B.

Eight companies seek to sell their policies on the state exchange Eight insurance companies are looking for approval to sell plans in the Illinois health insurance exchange. State officials note that there has been a surge in interest in the exchange coming from insurance companies. The exchange represents a competitive marketplace that is on its way to becoming one of the primary ways people find and purchase the coverage that they want. The new insurers looking to participate in the state’s exchange could bring some 504 new insurance plans to…