Live Insurance News

Florida faced with $300 million penalty from federal regulators

January 19, 2013January 19, 2013 Dan

Florida runs afoul of regulators due to health insurance program The State of Florida has run afoul of federal insurance regulators and is facing serious penalties under the federal health care law. The state’s health insurance program for public workers is the subject of the problem. Those responsible for the health insurance program warned that Florida could be liable for penalties, and federal regulators have taken note of the issue. If the Florida Legislature does not take action within the next few months, the state may be forced to brace…

Health insurance for college students may see new regulations

January 16, 2013April 30, 2013

Lawmakers are thinking about removing the mandatory coverage in New Jersey. Officials from the colleges in New Jersey have been pushing to eliminate the health insurance law in the state that requires students to have coverage as the combination of this regulation and the new healthcare reforms are causing the cost of the plans offered by the schools to head skywards. Lawmakers are taking these requests into consideration, but there is a careful balance to consider. They currently face the question of priority between the affordability of health insurance coverage…

Health insurance rules from healthcare reforms generate $1.5 billion in savings

December 7, 2012December 6, 2012 Julie Campbell

Regulations put into place from the system wide overhaul have customers spending less. The results of a study by the Commonwealth Fund, a research institution, have now been released, indicating that the health insurance rules that have been put into place by the healthcare law reforms have caused system wide improvements in efficiency that saved Americans almost $1.5 billion last year. The law’s provision says that insurers must spend at least 80 percent of collected premiums on medical care This is the case among insurers selling plans to individuals and…

Insurance Commissioners show concern over late release of regulations

December 6, 2012December 5, 2012 S.Vagus

Insurance Commissioners worried that late issuance of regulations could harm implementation of Affordable Care Act After years of criticism for not providing enough guidance in regards to the implementation of the Affordable Care Act, the U.S. Department of Health and Human Services has begun issuing rules concerning the law at a rapid pace. These rules may help some states comply with the federal law in a more comprehensive manner, but their delayed issuance could also be creating some significant problems. Insurance Commissioners throughout the country have begun expressing concerns over…

Health insurance benefits regulations released by HHS

November 23, 2012April 30, 2013

The department has now provided additional information to assist the states. The U.S. Department of Health and Human Services has now issued additional details regarding health insurance benefits requirements that have to do with coverage of prescription drugs. The cover has now been further strengthened for the millions of people who will be buying plans. These prescription drug benefits regulations will apply to health insurance policies that will come available late in 2013, in time for the official complete opening of the state exchanges, as per the overall healthcare overhaul…

Health insurance vows by Romney will make notable changes to the system

October 10, 2012April 30, 2013

Millions of Americans with pre-existing medical conditions are asking if they will lose their protection. In the heated debates over health insurance, that have only become more intense as the election draws nearer, Mitt Romney has expressed his intention to extend continued coverage to individuals with pre-existing medical conditions. The presidential nominee for the Republican party has said that those switching jobs will have their coverage shielded. Those who are changing jobs will have their health insurance coverage protected. What has yet to be seen from Romney’s plans is what…

Legislative Referendum 122 could put an end to insurance mandate

October 9, 2012 S.Vagus

Affordable Care Act provision could be cut down by Legislative Referendum 122 The Affordable Care Act is one of the most controversial legislations in the U.S.’s modern history. While the law aims to provide Americans with access to affordable health insurance coverage, it also requires them to purchase this coverage or risk fines and, in the most extreme circumstances, jail time. The insurance mandate has been at the crux of the controversy surrounding the law, and was the reason it landed before the Supreme Court earlier this year. While the…