Insurance

New rates at Blue Cross are a meager victory

August 25, 2010  ·  Consumer Watchdog

<p> At the shoe store, 40% off qualifies as at least pretty good. So why does regulators' approval of new, lower rates by Blue Cross of California not feel like victory? There are lots of reasons, but first is that the revised Blue Cross rate hikes are still in double digits, averaging 14% and as high as 20%, while average wages are still falling. And Blue Cross could announce another rate hike whenever it pleases, just as many insurers continue to do. </p>

Instead of Requested Increase in Rates, Liberty Mutual Gets Large Decrease

August 25, 2010  ·  Consumer Watchdog

<p> In August 2008, Liberty Mutual Insurance Company submitted applications to the California Department of Insurance for a rate increase of 4% and revisions to its auto rating factor plan (that’s the plan an insurer uses to distribute rates among its different policyholders, for example, charging less to someone who drives 5,000 miles versus charging more to someone who drives 15,000 miles).</p>

Health reform regulation scorecard: The big stuff is headed to court

August 19, 2010  ·  Consumer Watchdog

<p> Wouldn't it be great if we could all deduct our federal income and investment taxes from next year's income? And if we could also deduct that stress-reducing trip to a spa in Bora Bora? And if the government would just take our word for it? Fantasy for us, but the health insurance industry think that's what federal health reform ought to allow, on a corporate scale. </p>

Seattle Story: Pretty good ending

August 17, 2010  ·  Consumer Watchdog

<p> The worst definitely didn't happen in Seattle. The National Association of Insurance Commissioners deferred the worst insurance industry demands for weakening the implementation of health care reform. For a body so closely linked to...</p>

States Get Funds to Boost Oversight of Health Insurance Premiums

August 17, 2010  ·  Consumer Watchdog

<p> <strong>The $1-million grants, which went to all but five states, will help many expand public access to information about rate hikes and hire experts to review proposed charges.</strong></p>

Obama’s victory lap in rush hour gridlocks LA to raise $1 million for Congress

August 17, 2010  ·  Consumer Watchdog

<p> It took my wife an hour and half to make the two mile commute home Monday, after the secret service closed some of LA's busiest streets at rush hour to shuttle the president from his Beverly Hills hotel to a fundraiser for Congress...</p>

Seattle on Monday: Insurance commissioners blink in the spotlight

August 17, 2010  ·  Consumer Watchdog

<p> If there's one thing the National Association of Insurance Commissioners don't see much of, it's public attention. Now, however, it's got the attention of the media, consumer advocates and at least part of an increasingly aware public....</p>

HHS rate review grants contain stand-outs and sabotage

August 16, 2010  ·  Consumer Watchdog

Secretary Kathleen Sebelius announced today that HHS awarded $46 million in rate review grant funds to 45 states. But how much new protection will consumers gain from double-digit premium increases?

Captive Life Agents May Face Selling Conflicts After Financial Reform

August 16, 2010  ·  Consumer Watchdog

OLDWICK, N.J. -- Certain life insurance agents and broker-dealer firms could face increased legal liability depending on how the U.S. Securities & Exchange Commission rules on the fiduciary standard pertaining to the sale of investment products. The concern among affected parties is the possible increased legal liability or financial penalties from the SEC if they don't meet the new standard, said Carmen Balber, director of the Washington, D.C. office of Consumer Watchdog.

ObamaCare’s Loss Ratio Rules Are Out Of Balance, Critics Say

August 16, 2010  ·  Consumer Watchdog

As part of ObamaCare, the federal government will impose strict new spending rules on health insurers. How it does so could have a sweeping impact on the industry and patient care. "We believe that insurance companies will get enough goodies out of the new "medical loss ratio" (MLR) law that they will not have to do business any differently," said Consumer Watchdog's Judy Dugan. "If a nursing line is something where a nurse can advise a patient on treatment, sure, that may be a medical expense. But if it is just to determine if a patient needs to see a doctor, that's just cost containment."

Saturday in Seattle: Live demonstrators, zombie insurance lawyers, someone’s caving to lobbyists

August 14, 2010  ·  Consumer Watchdog

<p> It's livelier Saturday at the National Association of Insurance Commissioners meeting in Seattle. Most refreshing was a medium-sized street demonstration, with forays into meeting rooms, by young and old demonstrators protesting lobbyist influence on health care reform. They handed out "lobbyist disinfectant packs," including soap and face masks, and demanded that regulators do their job for consumers. The sponsor was the "Puget Sound Alliance for Retired Americans," and it was backed by Health Care for America Now, a national group that is finally engaging with vigor on regulation issues. </p>

Live from Seattle: The health insurance industry vs. health reform

August 13, 2010  ·  Consumer Watchdog

<p> (Seattle)--The big buzz today at a meeting of the National Association of Insurance Regulators was that President Obama would speak to the thousand-plus people gathered here--and then that he wouldn't. Maybe he didn't want to get...</p>