Live Insurance News

State’s Unemployment Insurance Fund is falling behind on repaying federal debt

June 9, 2015June 6, 2015 Logan B.

California still owes the federal government $8 billion on a loan California is falling behind on repaying a loan to the federal government. The state borrowed $10 billion from the federal government in order to ensure the recovery of its troubled Unemployment Insurance Fund. The fund exists as an insurance pool that is designed to cover the financial issues related to lack of employment. The economic recession that hit the country in 2008 and persisted through the following years placed the fund under a great deal of financial strain. Higher…

Unemployment insurance program amps up fraud detection

October 16, 2014October 14, 2014 Julie Campbell

The program will now be receiving assistance in being able to spot “suspicious patterns” among those claiming benefits. The struggling unemployment insurance program in California is now working with Pondera Solutions in order to be able to detect fraud more effectively and save the program – and tax payers – money. This new partnership is meant to help to boost the technology capabilities of the program. The unemployment insurance program in California is currently operating on an old computer system that was causing thousands of legitimate claims for benefits to…

Unemployment insurance costs addressed in Massachusetts

June 30, 2014June 28, 2014 Logan B.

New legislation focused on unemployment insurance costs passes in Massachusetts Massachusetts businesses are expected to save money on their unemployment insurance coverage thanks to new legislation that has been signed into law by Governor Deval Patrick. The legislation is a compromise between lawmakers that want to raise the state’s minimum wage and those that want to take action on unemployment throughout Massachusetts. The new law is expected to be well received among the state’s businesses, many of whom have been expressing concerns regarding the costs of unemployment coverage. Legislation aims…

Unemployment insurance claims increase in Louisiana

June 17, 2014June 14, 2014 Julie Campbell

The state’s weekly filings for first time claimants are now on the rise. According to a recent report on the figures regarding the first time claims for unemployment insurance in Louisiana, during the week that ended on June 7, the state experienced a weekly filing increase that was quite significant. Though the previous week’s total had been 2,976, the most recent figures rose to 3,292. That is a massive increase to experience from one week to the next, but the state labor department expressed that those unemployment insurance figures were…

Unemployment insurance claims for first timers on the rise in Louisiana

May 28, 2014May 26, 2014 G. Turner

The state has now started to see an increase in the number of people claiming when they hadn’t the week before. The official report from the Louisiana Workforce Commission has shown that the number of first time claims for unemployment insurance in the state for the week that ended on May 17 showed an increase over the number that had been recorded during the week before. In one week, the number of first time claims rose from 2,209 to become a notably higher 2,343. That said, while these unemployment insurance…

Unemployment insurance proposal achieves bipartisan Senate support

March 19, 2014March 19, 2014 G. Turner

A new deal has been reached in order to lengthen the long term coverage by another five months. A bipartisan senator group has now come to a deal that will allow the federal long term unemployment insurance program to be extended for an additional five months. This agreement has arrived after several months of focused negotiations and will be applied retroactively. The unemployment insurance will be distributed retroactively to those whose benefits expired at the close of last year. The price tag that comes with extending these benefits will be…

Unemployment insurance expires, leaving many without financial support

January 11, 2014January 14, 2014 Note From The Editor

Federal insurance comes to an end Unemployment insurance has become a very complicated situation in the U.S. and one that is surrounded by controversy. The federal government’s unemployment insurance program has officially expired, leaving approximately 1.3 million people without benefits. Many of these people had relied on their benefits for financial stability as it was their only source of income. With a still turbulent economy, these people have been finding it difficult, if not impossible, to find new jobs. Federal lawmakers have been working to address the issues, feeling the…