Insurance

Consumer Group Criticizes Exchange Rates for Being High

June 13, 2013 · Mark Reback

A consumer advocacy group is criticizing <a href="http://www.coveredca.com/news/press-releases/pr-05-23-13-plans-anounced.html" target="_blank" rel="noopener">premium rates</a> in California's health insurance exchange for being too high, the <a href="http://www.latimes.com/business/money/la-fi-mo-california-insurance-premiums-20130612,0,2574327.story" target="_blank" rel="noopener">Los Angeles Times</a> reports (Terhune [1], Los Angeles Times, 6/12). Background

Backers of Rate Regulation Aren’t Satisfied with Health Exchange

June 12, 2013 · Mark Reback

President Obama singled out California last week for getting better-than-expected rates in its rollout of the health insurance overhaul for millions of consumers. Yet some Obamacare supporters say those premiums are still too high, and they are continuing to push for a California ballot measure to regulate health insurance rates. Last month, Covered California, the state agency implementing the federal Affordable Care Act, announced the health insurers and proposed rates for individual customers in the state-run exchange.

Legislature Veteran Tom Calderon Turns to Business Consulting

June 9, 2013 · Mark Reback

Even in an era of term limits, Tom Calderon didn't serve long in the California Assembly. With four years under his belt, the Los Angeles County Democrat ran unsuccessfully for statewide office in 2002. Calderon launched a business doing what many former politicians do: consulting for organizations that have business before the government. As a lawmaker, he had carried legislation friendly to some of the organizations that later became his clients.

Fine Print and Red Tape in Long-Term Care Policies

June 7, 2013 · Mark Reback

One of the big reasons people buy long-term care <a href="http://topics.nytimes.com/your-money/insurance/index.html?inline=nyt-classifier" title="More articles about insurance.">insurance</a> is to avoid burdening a spouse or grown children when they can no longer care for themselves. But some family members are shouldering another type of burden: one that involves piles of paperwork and repeated phone calls, as they are forced to navigate a labyrinth of requirements to collect benefits that the insured spent many years paying.

The Battle Will Be Televised

June 5, 2013 · Mark Reback

With so much competition, why does L.A.’s big cable provider, Time Warner, charge so much?

California Consumer-Advocacy Group’s Executive Steps Down

May 31, 2013 · Mark Reback

Nonprofit advocacy group Consumer Watchdog issued an email this afternoon announcing that its executive director is leaving, effective immediately. Doug Heller is stepping down after 16 years with the Santa Monica-based organization best known for its battles with the insurance industry. As Consumer Watchdog's executive director, Heller was the oft-quoted face of the group for the last nine years.

California Health Exchange Reveals Premium Costs, Insurers

May 24, 2013 · Mark Reback

California's newly created health exchange announced the bottom line on its insurance policies and rates Thursday, bringing sharper focus to family impacts of next year's health care overhaul. Thirteen companies were selected to sell policies for the individual market through Covered California, a state-owned marketplace for comparing prices of coverage with identical benefits but different networks of doctors.

Auto Club To Cut Automobile Insurance Rates For 1 Million Customers

May 23, 2013 · Mark Reback

The average policyholder will see a $65 reduction in his or her annual bill. It's the Auto Club of Southern California's fourth rate decrease in the last nine years. About 1 million customers of the Automobile Club of Southern California will get an average $65 reduction in their annual car insurance bills, the auto club and the state Insurance Department announced. The total rate cut for all motorists came to $70 million, or 4.1%, for policies that start or renew after July 1.

Health Insurance: California’s New Marketplace Picks 13 Plans To Offer Coverage In 2014

May 23, 2013 · Mark Reback

In another major step toward national health reform, California on Thursday unveiled a list of insurers who will offer coverage through the state's new health exchange marketplace, providing the first glimpse into plans and prices for up to 5.3 million people not covered by employers. Anthem Blue Cross of California, Blue Shield of California, Kaiser Permanente and a group of smaller regional providers will offer a variety of health plans.

Tesoro Is Cleared To Buy BP’s Carson Refinery, Arco Stations

May 20, 2013 · Mark Reback

Tesoro won U.S. and state clearance to buy BP's Carson refinery, Arco stations and other assets for $2.4 billion. Consumer advocates object.

Mercury Insurance Loses Part Of Challenge Over Homeowner Rates

May 9, 2013 · Mark Reback

Huge insurer Mercury Insurance Group has lost part of its ongoing legal challenge over homeowners insurance rates. Sacramento Superior Court rejected Mercury's petition to delay implementing a rate decrease ordered by state regulators. As a result, about 270,000 Californians who insure their homes through Mercury will save more than $16.5 million, according to a California Department of Insurance news release.

Google’s Income Tax Rate Was Only 8 Percent

April 19, 2013 · John M. Simpson

<img class=" alignright size-full wp-image-2519" alt="" src="https://consumerwatchdog.org/wp-content/uploads/2012/11/images_googleevil2-75x75.jpg" style="width: 150px; height: 150px; float: right;" width="75" height="75" />Google, the company that makes its money by assembling digital dossiers about its users and selling them to advertisers for the highest bid, <a href="http://investor.google.com/earnings/2013/Q1_google_earnings.html">reported earnings</a> Thursday. Revenue increased 31 percent to $13.97 billion and net income in the first quarter rose 16 percent to $3.35 billion, or $9.94 a share.

Prop 103 California Insurance Reform

New Bill Requires Insurance Companies to Offer and Renew Insurance Coverage for Fire-Safe Homes

Homeowners Dropped by Insurers