Insurance

Health insurance rate hikes cry out for regulation

September 8, 2010  ·  Carmen Balber

Janet Adamy in the <a href="http://online.wsj.com/article/SB10001424052748703720004575478200948908976.html">Wall Street Journal reports</a> (subscription necessary) that health insurers across the country are using the health reform law as an excuse to justify their latest round of rate hikes for individual insurance policies...

Will ‘progressives’ let middle class burn to prove their point?

August 30, 2010  ·  Jamie Court

<p> When Anthem Blue Cross announced its controversial premium increases in California recently, the insurer claimed, "a carrier must be able to receive actuarially sound rates." So it is remarkable that "progressive" San Francisco State Senator Mark Leno, a single payer health care advocate, recently introduced eleventh hour legislation codifying Anthem Blue Cross's "actuarially sound" defense of premium increases in law. </p>

New rates at Blue Cross are a meager victory

August 25, 2010  ·  Judy Dugan

<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  ·  Judy Dugan

<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  ·  Judy Dugan

<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  ·  Jamie Court

<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  ·  Judy Dugan

<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  ·  Carmen Balber

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."