New insurance cooperative has won approval to operate in West Virginia A new insurance cooperative is preparing to make its entrance into the West Virginia market. The Kentucky Health Cooperative has received approval from the state’s Offices of the Insurance Commissioner and will be able to offer its health insurance products in West Virginia beginning in November of this year. The policies offered by the cooperative will go into effect on January 1, 2015. The co-op may bring some much needed competition to the state’s insurance market, encouraging other insurance…
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West Virginia seeks to open flood insurance to the private market
States begin taking matters into their own hands when it comes to flood protection As U.S. federal lawmakers continue to work to find a solution to the problems facing the National Flood Insurance Program, states are beginning to take steps to address these issues on their own. Typically, homeowners can only find the flood protection they need through the federal program. The program, however, is crippled by debt that has made it nearly impossible for the program to provide coverage adequately. Because federal lawmakers have been slow to resolve the…
Read MoreWest Virginia legislators decry rising flood insurance rates
State lawmakers to confront Congress regarding rising premiums Lawmakers in West Virginia are beginning to express their concerns regarding rising flood insurance rates. The state’s House of Delegates plans to urge Congress to address the issue in the coming year, but whether federal lawmakers will seek to mitigate the pressure of higher insurance premiums is an uncertain matter. West Virginia lawmakers suggest that homeowners and businesses alike are suffering under the financial pressure associated with higher insurance premiums and this pressure is only expected to grow as premiums continue to…
Read MoreAetna pulls out of New Jersey health insurance exchange
Company opts to not participate in state health insurance exchange Aetna, one of the largest health insurance companies in the U.S., has announced that it will not be participating in the New Jersey health insurance exchange. The exchange is set to begin open enrollment on October 1 this year, and is meant to provide consumers with access to affordable health insurance plans. Aetna was expected to be a prominent participant in the exchange, but disagreements with state officials may have discouraged the company from participating in the state’s exchange. Aetna…
Read MoreWest Virginia weighs options on health insurance exchange
West Virginia may partner with federal government West Virginia is making strides in building a health insurance exchange program, but the state’s plans have hit a snag in the form of finances. The state, like others in the country, is required to host a health insurance exchange by the Affordable Care Act. Though some state officials have shown opposition to the federal health care law, West Virginia remains on track to comply with the law by 2014. The state will not run the exchange on its own, however, as state…
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