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Illinois health insurance companies seek to circumvent federal law

August 6, 2013August 3, 2013 Nordstrom

Acts of health insurance providers create drama with state regulators Drama has erupted in the insurance industry in Illinois. The state’s Department of Insurance has taken issue with an action that many of the state’s largest health insurance providers plan to take in order to avoid federal reforms for an entire year. Per the Affordable Care Act, insurers will not be able to charge higher rates for women, those with pre-existing conditions, and other demographics beginning January 1, 2014. In an attempt to sidestep these new regulations, many of the…

Illinois looks to raise awareness of health insurance exchange

April 16, 2013April 15, 2013 Logan B.

Federal grant to help popularize state health insurance exchange Last week, Illinois received a $115 million federal grant designed to help the state build and promote a functioning health insurance exchange for residents. The exchange is a mandatory part of the Affordable Care Act, which rules that all states must have a working exchange in place by 2014. Several states have opted to oppose this provision of the controversial health care law, in which case the federal government has taken the responsibility of establishing an exchange program in these states.…

Illinois sets sights on health insurance co-op

December 29, 2012December 29, 2012 Marc

Illinois announces plans for health insurance co-op As the Affordable Care Act inches closer to becoming fully enacted in 2014, states are making moves on the health insurance exchanges that the law requires them to host. These health insurance exchange systems are meant to be online marketplaces where consumers can find affordable health insurance policies. Several states have chosen not to build or operate their own insurance exchange but others, such as Illinois, have been considering a somewhat less popular approach to the issue. Co-op could be a decent alternative…

Esurance aims to raise auto insurance rates in Illinois

December 11, 2012January 12, 2014 Dan

Questionable tow and glass claims run rampant

Esurance introduces new rate hike for Illinois market Esurance, a leading online auto insurance provider owned by Allstate, is looking to raise the rates of its coverage in Illinois. The auto insurance company has plans to raise rates by an average of 5% throughout the state by December 11.Esurance suggests that the increase comes after a review of the Illinois insurance market. The company has determined that a rate increase is necessary in order to remain competitive and account for some of the risks that are emerging within the market…

Illinois health insurance exchange still uncertain

November 14, 2012November 13, 2012 Nordstrom

Illinois health insurance exchange is the basis for new political turmoil in its home state The Affordable Care Act is here to stay in the U.S., secured by a second term victory from President Obama and upheld by the Supreme Court. Because the future of the health care reform law is not longer in question, states are beginning to take aggressive steps to ensure they comply with the federal law. Some of the provisions of the Affordable Care Act are more easily accomplished than others, however, and some states are…

Illinois health insurance exchange making progress

November 9, 2012November 9, 2012 Nordstrom

Legislators continue to push for Illinois health insurance exchange The Illinois health insurance exchange is on track to comply with federal regulations and deadlines. State officials have been making progress in building the state’s own exchange program, hoping to have one established before being confronted by deadlines from the federal government. Thus far, progress has been modest, but promising. The state is now reviewing five bids from companies and organizations interested in building the exchange program. Legislators are expected to choose one of these bidders within the coming months. State…