Sen. Feinstein Makes Tough Pitch for Rate Regulation and CW’s Report
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Insurance
Insurance news, investigations, and reform — auto, home, and health insurance rates, claims denials, and industry accountability.
Consumer Groups Push Rate-Review Bill, Await HHS Rules
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Consumer advocates expect federal regulators to finalize regulations this month that will allow the Department of Health and Human Services to review insurance companies’ rates.<br />
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The healthcare reform law gave HHS new powers to review “unreasonable” rate hikes, though it cannot stop increases from taking effect. Carmen Balber, Washington director for the advocacy group Consumer Watchdog, said HHS has indicated that it’s planning to release final rules on rate review before the end of the month.<br />
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Feinstein wants to regulate health insurance rate hikes
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<a href="http://www.scpr.org/news/2011/05/11/feinstein-wants-regulate-health-insurance-rate-hik/">Click here to listen to the audio of this broadcast segment</a>.</p>
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The health insurance overhaul Congress passed requires insurance companies to spend 85 percent of their budgets on medical care. But the law doesn’t give anyone the authority to call out companies if they steeply raise their rates. A new bill aims to put a Band-Aid over that particular owie.</p>
Nine States Appeal Federal Rule Limiting Health Insurers’ Profits
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WASHINGTON — In a move that could absolve health insurers of paying more than $95 million in consumer rebates, nine states are pressing for relief from a federal rule limiting insurers' profits and administrative costs.</p>
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State regulators say they fear insurers would flee their markets and leave some individuals without coverage options if the rule isn't eased. But consumer groups say there's little evidence insurers would bail out.</p>
Sen. Feinstein, Rep. Schakowsky, Maine insurance official and CW talk out-of-control health insurance rates
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Join us!</p>
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Senator Dianne Feinstein, Representative Jan Schakowsky, and Maine's top insurance regulator will join Consumer Watchdog founder Harvey Rosenfield at a Consumer Watchdog newsmaker briefing on Capitol Hill next Wednesday. Here are the details.</p>
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<span style="font-size: 16px;"><strong>How Health Insurance Rate Regulation Can Lower Premiums and Save Health Reform</strong></span><br />
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Wednesday, May 11, 2011, 2:00pm - 3:30pm</p>
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116 Dirksen Senate Office Building</p>
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Washington, DC</p>
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Health Reform and Insurance Regulation: Can’t Have One Without the Other
Health insurance premiums are increasing at a rate faster than medical inflation, especially in the volatile individual and small group markets, and worker incomes have...
Health Insurers’ Rates Targeted in the Capitol
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The insurance-driven costs that millions of Californians pay to drive their cars, work at their jobs and protect their homes are closely regulated, in part because of generations of decisions by the Legislature and in part because voters demanded it.</p>
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But despite the attention paid in recent years to health care reform, the price tag to 23 million California consumers of billions of dollars worth of care is only scantly regulated, at least directly. Health insurers’ rates are set by the health insurers themselves reflecting the market and their costs.</p>
Trump’s Real Estate Courses Didn’t Deliver, Lawsuit Says
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SAN FRANCISCO -- Before Donald Trump sold the idea of a possible 2012 presidential bid, the bombastic real estate mogul peddled the American dream at a place called Trump University. He promised consumers the golden opportunity to be "my next apprentice" and learn "insider" secrets of real estate.</p>
Do Not Track Bill Up For Vote
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<b>Bill Bans Online Consumer Tracking</b></p>
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<a href="http://www.kcra.com/video/27762938/detail.html">Watch video clip here</a>.</p>
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SACRAMENTO, Calif. -- Landmark legislation that would prevent online monitoring of consumers faces a key vote Tuesday at the state Capitol.</p>
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SB761 by Sen. Alan Lowenthal, D-Long Beach, would allow consumers to opt out of tracking by companies that do business in California.</p>
Making A Case for Regulating Medical Insurance In California
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<b>Breathtaking premium hikes have prompted California's new insurance commissioner to sponsor a bill that would require medical insurers to get state approval before increasing rates.</b><br />
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Auto and homeowner insurance premiums have been regulated by the state of California for two decades. Maybe it's time that healthcare premiums are too.<br />
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Court Ruling Undermines Consumer Rights
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You might want to start reading the fine print when you open a bank account, buy a car or a refrigerator, or sign up for cellphone or cable TV service.<br />
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If you have a dispute with the company, the U.S. Supreme Court just made it near impossible for you to join up with other aggrieved consumers to get relief.<br />
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In a 5-4 ruling Wednesday in a California case, the high court said that clauses in contracts in which consumers agree to arbitration block them from later joining class-action lawsuits.<br />
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S.C. Insurer’s Actions Draw Fire
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BlueCross BlueShield of South Carolina, which has generated hundreds of millions of dollars in profits over the past five years, has boosted the pay of board members and top executives while sticking policyholders with ever-higher premiums, a Post and Courier review found.<br />
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The nine members of the company's board of directors have more than doubled their reported salaries in the past year, financial filings show. In 2010, two executives earned more than $1 million in salary and bonus pay, and another earned more than $2.2 million, according to the filings.<br />