Live Insurance News

Health insurance scams may emerge as exchange pick up momentum

October 9, 2013October 7, 2013 S.Vagus

Consumers warned to be cautious of health insurance scams Health insurance exchanges have officially launched throughout the U.S. as part of the Affordable Care Act. The exchanges are meant to provide people throughout the country with access to affordable health insurance plans. So far, these exchanges have been quite popular, with consumers flocking to the virtual marketplaces to find policies. In New York’s exchange, more than 10 million people attempted to purchase coverage through the state’s exchange on its first day. While these health insurance exchanges seem popular with consumers,…

Idaho officials warn of health insurance fraud

September 17, 2013September 14, 2013 Logan B.

Fraud activities cause concern for health insurance regulators Idaho residents are being warned by the state’s Department of Insurance to be cautious of fraud concerning the Affordable Care Act. State regulators are suggesting that some consumers may be targeted by malicious groups that seek to exploit the confusion surrounding the federal law. This exploitation could lead to major financial disturbance for some consumers and leave them without adequate health insurance coverage. The Department of Insurance has begun working to inform consumers of what they can look for in order to…

Insurance fraud lawsuit filed by Allstate

June 25, 2013June 22, 2013 H. Cutner

The insurer has filed a lawsuit worth $6.6 million against 47 durable medical supply companies and their owners. Allstate has just filed a new insurance fraud lawsuit in order to help to recover $6.6 million in treble damages against 80 defendants throughout the states of New York and Florida. The insurer is not new to this type of filing, as it is the fourth that it has made since the start of the year. The insurance fraud lawsuit filing was also the 48th that Allstate has made since 2003, in…

Insurance fraud lawsuit filed by Allstate against providers

May 20, 2013May 25, 2013 Julie Campbell

The massive insurer has sued five medical professional companies and six physicians in the U.S. Allstate has just filed an insurance fraud lawsuit worth $3.8 million in order to recover the funds from five medical professional corporations and six physicians. This is the third lawsuit of this nature that the insurer has filed within this year alone. Overall, there have been 47 insurance fraud lawsuits filed by Allstate in the state of New York since 2003. In total, the insurer has sought over $235 million in damages throughout those years.…

Health insurance refund checks circulating throughout California

March 7, 2013March 6, 2013 Logan B.

Fake checks being issued to health insurance consumers Reimbursement checks from the California Department of Insurance have been circulating throughout the state. Many of these checks are in regards to health insurance, offering consumers refunds for their coverage or to help cover the cost of their health insurance policies. The checks have come as a surprise to many consumers throughout the state, also raising suspicion as the Department of Insurance had not informed consumers that they would be receiving these checks in any way. Insurance Commissioner Dave Jones has announced…

Auto insurance fraud under attack in California following $1.3 million grant

November 12, 2012November 11, 2012 Julie Campbell

A Contra Costa district attorney has directed the funds toward an aggressive effort. According to the district attorney in Conta Costra, California, officials will now be establishing an investigation into workers’ compensation, disability, health care, and auto insurance fraud, with the assistance of a state grant worth $1.3 million. The announcement explained that these funds will help in both investigations and prosecutions. The Contra Costa County District Attorney’s Office, and the California Department of Insurance made the announcement through District Attorney Mark Peterson, saying that the grand money would be…

IBM supercomputer to recommend action on thousands of insurance claims for WellPoint Inc

September 13, 2011September 13, 2011 H. Cutner

IBM’s famed supercomputer, Watson, is taking on a new challenge, the results of which may have a sweeping impact on the nation’s insurance industry. The supercomputer has successfully overcome several challenges in the past, including a “Jeopardy!” competition in which the computer won a decisive victory against some of the brightest minds in trivia knowledge. Watson has shown that its computing power surpasses the capabilities of a human mind and, because it is a machine, is not prone to typical human error. For this reason, the computer is now being…