Insurance

Editorial: Prop. 33 Benefits Insurers More Than Car Owners

September 1, 2012  ·  Mark Reback

<p>Proposition 33 on the Nov. 6 ballot is an industry-backed plan to change California law affecting the price of car insurance.<br /> <br /> The Star recommends a "no" vote on Proposition 33 because its negative effects would outweigh any benefits to drivers and the public.<br /> <br /> The ballot measure's major financial backer, to the tune of millions of dollars, is insurance magnate George Joseph, chairman of Mercury Insurance. He also was the major backer of Proposition 17, an unsuccessful 2010 initiative nearly identical to this year's Proposition 33.<br />

Wellpoint CEO Braly Self-Destructs

August 29, 2012  ·  Carmen Balber

<p><img class=" alignright size-full wp-image-2482" alt="" src="https://consumerwatchdog.org/wp-content/uploads/2012/08/images_braly-quote1.jpg" style="width: 189px; height: 300px; margin-left: 7px; margin-right: 7px; float: right;" width="189" height="300" />Angela Braly was sacked as the head of health insurance giant Wellpoint yesterday - but not necessarily for the right reasons.</p> <p>Wall Street banks and billionaire investors complained about the company's profit margins and a slipping stock price. (Put that in perspective: Wellpoint had $13 billion in profits last year.)</p>

WellPoint CEO Angela Braly Quits, Bowing To Investor Pressure

August 29, 2012  ·  Mark Reback

<p><b>Dogged by criticism, WellPoint CEO Angela Braly abruptly resigns, and the health insurance giant that runs Anthem Blue Cross in California names an interim CEO.</b></p> <p><br /> <img class=" size-full wp-image-9799" alt="" class="right" src="https://consumerwatchdog.org/wp-content/uploads/2012/08/images_angelabraly.jpg" style="width: 200px; height: 302px;" width="338" height="510" />Bowing to intense investor pressure, the chairwoman and chief executive of health insurance giant WellPoint Inc. abruptly resigned and the company named an interim CEO.</p>

Regulatory Debate Erupts Over Whether Small Employers Will Dodge Employee Health Benefits

August 29, 2012  ·  Mark Reback

<p>OLDWICK, N.J. -- A debate is brewing over health insurance coverage for small businesses, with consumer advocates contending that very small employers will try to self insure and use medical stop-loss insurance with low deductibles to avoid compliance with the Patient Protection and Affordable Care Act.<br /> <br />

Who Really Benefits From Prop 33?

August 29, 2012  ·  Mark Reback

<p>If approved in November, Proposition 33 would allow auto insurers to offer discounts to new customers who have had continuous coverage for the past five years.</p> <p>Sound familiar?</p>

Shareholders Urge WellPoint To Oust Its CEO Angela Braly

August 28, 2012  ·  Mark Reback

<p><b>Complaints about WellPoint chief Angela Braly have intensified since last month's disappointing earnings news. The health insurer says recent deals Braly orchestrated put it on track for growth.</b></p>

New Attempt at Rate Regulation on Ballot

August 27, 2012  ·  Mark Reback

<p>Let the battle begin, again.</p> <p>One of the most contentious health-related bills before the Legislature in the past two years was a proposal to regulate health insurance rates, AB 52 by Assembly member Mike Feuer (D-Los Angeles). After it failed to clear the Legislature in September last year, a consumer rights organization decided to take the baton and make it a state initiative.</p>

Consumer Group Files Motion To Oppose Google, FTC Settlement

August 24, 2012  ·  Mark Reback

<p>The settlement agreement between the U.S. Federal Trade Commission and Google, which cost the <a href="http://www.zdnet.com/ftc-google-settles-for-22-5m-in-safari-tracking-row-7000002401/">search giant $22.5 million in penalty charges</a>, is being challenged in court.</p>

Health Insurance Rate Regulation Measure Qualifies For California’s November 2014 Ballot

August 24, 2012  ·  Mark Reback

<p>An initiative that would bring health insurance rate regulation to California has qualified for the November 2014 ballot, setting the stage for a vigorous and costly battle between insurers and consumer groups.<br /> <br /> The measure, sponsored by Consumer Watchdog, would give the state insurance commissioner the power to deny certain premium increases if they are deemed excessive.<br /> <br /> The insurance commissioner has little control over such rate hikes now.<br /> <br />

California Health Rates Initiative Qualifies for 2014 Ballot

August 24, 2012  ·  Mark Reback

<p>The California Secretary of State announced on Thursday that a ballot initiative to require health insurance companies to publicly justify and get approval for rate increases before they take effect has qualified for the 2014 ballot.</p> <p>Santa Monica, Calif.-based-Consumer Watchdog’s Insurance Rate Public Justification and Accountability Act made the ballot after county registrars of voters certified that more than 549,380 valid signatures from California voters were submitted by the campaign.</p>

Health insurance rate regulation gains support in Congress

August 21, 2012  ·  Carmen Balber

<p><img class=" alignright size-full wp-image-2215" alt="" src="https://consumerwatchdog.org/wp-content/uploads/2011/08/images_carmenbdrawingname.gif" style="width: 133px; height: 200px; float: right; margin-left: 7px; margin-right: 7px;" width="133" height="200" />Senator Jon Tester <a href="http://thehill.com/blogs/floor-action/senate/244499-tester-promotes-bill-allowing-states-to-block-increased-health-insurance-rates">announced his support</a> for legislation to give state insurance commissioners the authority to say no when insurance companies propose excessive and unjustified premium increases.</p>

Calif. Prop. 33 Language Stands

August 13, 2012  ·  Mark Reback

<p>The language for an automobile persistency initiative will stand after the California Third District Court of Appeal on Monday denied an appeal filed by the backers of the Proposition 33 campaign seeking to strike part of the ballot language, including the label and title and summary.</p> <p>The label and summary were prepared by California’s Attorney General, and opposing langue was drafted by Santa Monica, Calif.-based Consumer Watchdog.</p>