Wisconsin is seeking to obtain a waiver from the federal government that would provide the state’s insurance companies with immunity against a new health care law that would require them to pay at least 80% of the money collected from premiums on medical care. The law is part of the controversial Affordable Care Act, which, as a whole, has been met with varying degrees of opposition from the nation’s insurance industry and legislators. Governor Scott Walker claims that the waiver is necessary for insurers to remain competitive, and hopes to…
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Wisconsin insurance regulators seek 80 percent rule exemption
Insurance regulators for the state of Wisconsin have expressed their worry over the impact of a new federal rule, which may make it impossible for some health insurance companies from being capable of providing coverage to individuals who purchase their own health coverage as opposed to receiving it through their employers. In Wisconsin, the insurance commissioner’s office has made a request to federal officials to gradually ease into their new rule, which would necessitate that health insurance companies spend at least 80 percent of the premiums they collect on actual…
Read MoreAuto insurance anti-stacking language causes disagreements between insurers and lawyers
Following an April vote by Wisconsin lawmakers that permitted the inclusion of anti-stacking language in auto insurance policies, it is anticipated that one of the first acts from the Republican-controlled state legislature will be a decision to permit insurers to disallow policy stacking. The decision in April was made in an attempt to resolve a common battle that was regularly being fought between trial lawyers and insurers. What occurred was the repealing of every element of the “Truth in Auto” law that was passed in 2009, except for the aspect…
Read MoreInsurers bring in teams from surrounding areas just to keep up with major storm activity
Severe thunderstorms and tornadoes tore their way through Wisconsin on Sunday. Businesses all over the state shut down as owners begin to assess the damage wrought by the unruly weather system. The state’s insurance companies are beginning to field claims from both business and home owners as they prepare for what has been a particularly devastating storm. The storm is expected to have a considerable impact on hundreds of jobs all over the state as several manufacturing companies temporarily close their doors to recover. Six businesses in the Merrill area…
Read MoreWisconsin auto liability requirement up for discussion
Wisconsin drivers may get a break on their auto insurance prices; Republican’s have put a bill up for vote to decrease the minimum amount of liability insurance required. This may be a no-win situation; some of the components of the bill may end up costing drivers more in the long run. Just over two years ago the Democratic majority passed a bill to raise the minimum liability limits required to reflect pricing changes. It had been over 20 years since liability insurance had been raised. When Republican’s won the state…
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