Insurance

Blue Shield CEO Bruce Bodaken Earned $4.6 Million Last Year

May 26, 2011  ·  Mark Reback

<p> <b>Blue Shield, California's largest nonprofit health insurer, releases the salary data in response to a new state law intended to keep healthcare insurance costs under control.</b></p>

Vermont Goes for Real Deal in Health Reform: Single Payer

May 24, 2011  ·  Judy Dugan

<p> <img class=" size-full wp-image-2102" alt="" class="right" src="https://consumerwatchdog.org/wp-content/uploads/2011/05/bucolic_vermont.png" style="width: 120px; height: 90px;" width="120" height="90" />Can you hear Blue Cross screaming in the distance? Vermont is about to hit the road toward a real (if modified) <a href="http://www.kaiserhealthnews.org/Daily-Reports/2011/May/23/vermont-single-payer.aspx?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+khn+%28All+Kaiser+Health+News%29">single-payer health care</a>--Medicare, but for everyone. Cut out the middlemen, save some money, cover more people.</p>

Rate Review Standoff — Final Rule Irks Both Insurers, Consumer Advocates

May 23, 2011  ·  Mark Reback

<p> A final federal rule requiring health insurers to reveal and explain double-digit premium rate hikes managed to disappoint both the insurance industry and consumer advocates.<br /> <br /> The regulation HHS released last week under the federal healthcare reform law makes health plans undergo rate reviews this year when they propose rate increases on individual and small group markets of 10% or more. This trigger means states will conduct a review of the rate to see if it's excessive. If states don't have the capacity to conduct these reviews, HHS will do them.<br />

Health Insurers Must Soon Justify 10%-Plus Premium Hikes

May 20, 2011  ·  Mark Reback

<p> <b>The new Obama administration rule taking effect in September doesn't allow state regulators to reject rate increases deemed unreasonable, but it requires insurers to explain the reasons for such hikes to the public.</b></p>

HHS Finalizes Rate Review Regulation for Health Plans

May 20, 2011  ·  Mark Reback

<p> WASHINGTON, D.C. -- Health insurance plans will have to justify double-digit rate increases in a federal or state rate review process beginning Sept. 1, under a final regulation announced by the U.S. Department of Health and Human Services.<br /> <br />

Health Insurance Rate Hikes Face Tougher Scrutiny

May 19, 2011  ·  Mark Reback

<p> Health insurers seeking rate increases of 10 percent or more will face increased scrutiny starting in September under <a href="http://www.ofr.gov/OFRUpload/OFRData/2011-12631_PI.pdf" target="_blank" rel="noopener">rules finalized Thursday</a> by the Obama Administration. </p> <p> States – or in some cases the federal government – will review the flagged premium increases and insurers will have to justify increases deemed unreasonable. The law does not give the federal government power to reject increases, but many state regulators have that authority.</p>

US Government To Require Review Of Big Health Insurance Rate Hikes

May 19, 2011  ·  Mark Reback

<p> The U.S. government issued a rule Thursday requiring state or federal review of substantial health insurance rate increases for individual and small-group plans, prompting criticism from the managed-care industry.<br /> <br /> The Department of Health and Human Services said the rule, arising from the health overhaul law, will moderate premium increases by bringing more transparency to the rate-setting process.<br /> <br />

Did your California insurance broker or agent tell you about the Low Cost Auto Insurance Program?

May 19, 2011  ·  Pam Pressley

<p> <img class=" size-full wp-image-2097" alt="" class="right" src="https://consumerwatchdog.org/wp-content/uploads/2011/05/lowcost.jpg" style="width: 200px; height: 227px;" width="264" height="300" />Do you have minimum limits (15/30/15) on your auto insurance policy?  Did your insurance agent or broker tell you about California’s Low Cost Auto Insurance Program, which could save you hundreds of dollars on your auto insurance?  Likely Not.  Consumer Watchdog is investigating the failure of agents and brokers to inform customers about California’s Low Cost Auto Insurance Program and we need your help.</p>

Rein In Insurance Companies Fat Rate Hikes

May 16, 2011  ·  Mark Reback

<p> When it comes to chutzpah, health insurance companies take a back seat to no one.<br /> <br /> To hear them tell it, they're barely hanging on as federal health care reforms begin to take hold. But the facts tell a different story.<br /> <br /> What they're really doing is raking in profits at a record rate. In 2010, the five largest for-profit insurers -- UnitedHealth, WellPoint, Aetna, Cigna and Humana -- saw their profits soar by 16 percent.<br /> <br /> At the same time, most are asking for massive, double-digit, clearly unjustified premium increases.<br />

Intervenor System Has Worked To Save California Insurance Customers $2 Billion Since 2003

May 12, 2011  ·  Doug Heller

<p> If you're looking for a model plan to save money on health insurance premiums, <a href="http://www.consumerwatchdog.org/blog/sen-feinstein-makes-tough-pitch-rate-regulation-and-cws-report">Senator Dianne Feinstein joined Consumer Watchdog yesterday</a> to release a new Consumer Watchdog report, <a href="http://www.consumerwatchdog.org/resources/cwrateregulation.pdf"><em>Health Reform and Rate Regulation: Can't Have One Without The Other</em></a>, showing how insurance company rate regulation is crucial to lowering rates.</p>

Feinstein, Kofman Argue for Federal and State Review of Health Rates

May 12, 2011  ·  Mark Reback

<p> <a href="http://www3.ambest.com/ambv/displaycontent/MediaArchive.aspx?RC=186529">Click here to listen to audio interviews with Harvey Rosenfield and Mila Kofman</a>.</p>

Feinstein, Consumer Groups Call for Tighter Health Insurance Regulation

May 12, 2011  ·  Mark Reback

<p> <a href="http://www.kqed.org/a/kqednews/RN201105121304">Click here to listen to the audio of this broadcast</a>.</p> <p> California Senator Dianne Feinstein and consumer advocacy groups are calling for tighter regulation of health insurance premiums. Feinstein is sponsoring a bill that would allow federal regulators to reject or modify rate hikes greater than 10 percent.</p>