New insurers have been approved to sell coverage to participate in the state’s insurance exchange The Washington Office of the Insurance Commissioner has announced the approval of some 136 individual health insurance plans that will be sold through the state’s insurance exchange. The plans come from 12 insurance companies, which had requested for rate increases of 5.4%. State regulators have approved an increase in premiums of 4.2% for these insurers, however. Consumers will be able to purchase these plans during the exchange’s upcoming open enrollment period, which begins in November…
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State commissioner sends a warning to the insurance industry
Insurers practicing price optimization could be running afoul of state law Washington Insurance Commissioner Mike Kreidler has issued a warning to insurance companies concerning using the personal data of customers to price coverage. In a “Technical Assistance Advisory” notice sent to property and casualty insurers operating in the state, the commissioner suggested that the practice of “price optimization” is illegal throughout Washington. Price optimization is the process of using non-insurance data, as well as other information, in order to affect the cost of insurance coverage. Price optimization may be having…
Read MoreHealth insurance is now more accessible in Washington than ever before
Affordable Care Act has been a major success in Washington Health care reform may have been a major success in Washington, according to the state’s Insurance Commissioner, Mike Kreidler. This week, Keridler spoke to a Congressional subcommittee, highlighting the benefits that the Affordable Care Act has brought to his state. Most notable among these benefits is the impact that the law has had on the uninsured population. According to Kreidler, Washington now has the lowest rate of uninsured people it has seen since 1987. State’s uninsured population drops to 8.5%…
Read More170,000 people sign up for the Washington health insurance exchange
More people find the coverage they need through the Washington insurance exchange An estimated 170,000 Washington residents have purchased health insurance coverage through the state’s exchange marketplace, according to information provided by the state. This is an increase in the number that purchased health insurance through the exchange during the first open enrollment period. Many people were able to take advantage of a special enrollment period, which offered consumers more time to sign up for coverage through the state’s exchange before they filed for taxes. Special enrollment period proves to…
Read MoreHealth insurance enrollment period extended in Washington
States begin extending the enrollment period for their insurance exchanges The open enrollment period for health insurance exchanges in the United States has come to an end, but that may soon change for many states in the country. In Washington, the enrollment period has been extended until the middle of April, which will allow more people to sign up for health insurance coverage through the state’s exchange. In other states, lawmakers are considering extension to the enrollment period, as well. Federal penalties encourage states to extend their enrollment periods in…
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