Insurance

Administration to seek additional safeguards and oversight of life insurance settlements

June 16, 2008 -- HONOLULU – Hawaii Governor Linda Lingle today signed into law a bill to protect individuals – specifically senior citizens and people suffering from chronic or terminal illness – from fraudulent activity relating to the selling and buying of life insurance policies.

While the new law provides added measures to protect consumers, the Governor said it does not go far enough in safeguarding against unscrupulous individuals who exploit and prey on vulnerable residents because of their age or medical condition. The Lingle-Aiona Administration will seek additional protections and industry oversight in the 2009 legislative session.    » read more »

Rate of Underinsured Triples for Middle and Higher Income Families; Underinsured Go Without Needed Care and Face Medical Debt

New York, NY, June 10, 2008—The number of underinsured adults—those with health insurance all year, but also very high medical expenses relative to their incomes—rose by 60 percent between 2003 and 2007, from 16 million to more than 25 million, according to a new Commonwealth Fund study released today as a Health Affairs Web Exclusive.

Middle and higher income families were hit the hardest by the steep increase: underinsured rates nearly tripled for those with incomes above 200 percent of the federal poverty level, which is an annual income of $40,000 or higher for a family.    » read more »

June 6, 2008 -- Washington, D.C. — Speaker Nancy Pelosi, House Majority Leader Steny Hoyer and Ways and Means Committee Chairman Charles B. Rangel announced this afternoon that legislation extending unemployment insurance benefits for the long-term jobless will be acted on swiftly by the House.

The House Ways and Means Committee has already passed the legislation to aid millions of workers who have lost their jobs in the struggling economy.    » read more »

Of All Age Groups, 19-to-29-Year-Olds Most Likely to Be Uninsured

May 30, 2008 -- New York — The number of uninsured young adults in the United States rose to 13.7 million in 2006—an increase from 13.3 million in 2005—making the 19-to-29 age group one of the largest and fastest-growing segments of the population without health insurance.

According to a newly updated report from The Commonwealth Fund, 38 percent of high school graduates who do not attend college and 34 percent of college graduates will spend some time uninsured in the year after graduation.    » read more »

Measure Includes Key Provisions For Vermont’s Captive Insurance Sector

May 29, 2008 -- BURLINGTON, Vt. – Vermont Governor Jim Douglas has signed into law a bill making changes to Vermont’s banking and insurance laws, including key provisions for the state’s captive insurance industry.

The bill also includes measures to protect consumers by enabling Vermont to join a national licensing system for mortgage brokers and non-bank lenders.

“Through a collection of thoughtfully rendered statutory changes, this legislation ties together numerous diverse benefits to both consumers and Vermont’s financial services industries, particularly our captive insurance sector,” said Governor Douglas at a signing ceremony at Dwight Asset Management, LLC, in Burlington.    » read more »

Refund Points to Need for Insurance Law Reform

May 29, 2008 -- New York Governor David A. Paterson and New York State Insurance Department Superintendent Eric Dinallo today announced that Oxford Health Insurance, Inc. has agreed to refund $50 million to approximately 37,000 small businesses in New York City, Long Island and the northern suburbs for overcharging on health insurance policies in 2006.

The refund highlights the need for legislation to reinstate the Insurance Department’s authority to approve rate increases before they go into effect, something the Insurance Department is pursuing this legislative session.    » read more »

May 23, 2008 -- TALLAHASSEE, FL - Florida Attorney General Bill McCollum, Chief Financial Officer Alex Sink and Insurance Commissioner Kevin McCarty today announced that Florida has reached a settlement with Aon Corp., a large insurance broker that received undisclosed compensation in connection with the placement of insurance coverage on behalf of Florida policyholders.

As part of the agreement, Aon will pay $2.6 million to Florida to reimburse affected policyholders. Aon also will reimburse the three Florida agencies $1.4 million in fees and costs, which will be paid within 10 days of this agreement.    » read more »

May 22, 2008 -- WASHINGTON, D.C. — U.S. Senator Dick Durbin (D-IL) today announced that by a vote of 75-22, the US Senate passed the domestic funding portion of the emergency supplemental bill that included an amendment to extend the current one year moratorium on a Medicaid rule regarding public health care providers that would have cut up to $255 million a year in federal funding to Illinois’ Medicaid program, including $179 million to Cook County.

This is the second time Durbin was able to extend the moratorium. The extension of the moratorium is until April 1, 2009 and was passed with a veto proof majority.    » read more »

Feingold welcomes Collins’ support for effort to cover the uninsured

May 22, 2008 -- Washington, D.C. – Today, U.S. Senator Russ Feingold (D-WI) welcomed the support of Senator Susan Collins (R-ME) for the State-Based Health Care Reform Act, a state-based approach to ensure all Americans receive health care coverage.

Additional support for the bill, which Feingold authored with Republican Senator Lindsey Graham of South Carolina, coincides with a Badger Poll conducted by the University of Wisconsin Survey Center that finds a majority of Wisconsinites think states would do a better job reforming the health care system rather than the federal government.    » read more »

May 21, 2008 -- MIAMI – Florida Governor Charlie Crist continued a weeklong series of health care bill signings today by signing Senate Bill 2534, providing affordable health insurance options to Florida’s 3.8 million uninsured individuals. The Governor’s Cover Florida plan will allow the State of Florida to negotiate with health insurers to develop affordable health coverage for uninsured Floridians ages 19 to 64. Small businesses will also be able to offer employees a variety of health care plans and services through a centralized clearinghouse. He signed the bill while visiting the Ryder Trauma Center in Miami.    » read more »

May 13, 2008 -- WASHINGTON, DC—“I am pleased that the Senate has come together in a bipartisan manner to do the right thing for Americans who face the tragic effects of flood damage in their homes and communities. Over 140,000 New Yorkers are covered by the National Flood Insurance Program, and today’s action is an important step in ensuring that this protection remains intact.

Flooding in Lindenhurst, New York: Photo by bloomsday616 (CC)    » read more »

May 13, 2008 -- WASHINGTON, D.C. - U.S. Senator Barack Obama today released the following statement on the Senate's passage of the Flood Insurance Reform and Modernization Act of 2007 (H.R. 3121). Senator Obama voted in favor of the measure, which passed by a vote of 92 to 6.

Barack Obama: Photo courtesy Barack Obama campaign

"Every year, tens of thousands of homeowners and businesses throughout the country suffer from catastrophic flooding, and we must do everything we can to ensure they can recover as quickly as possible. I am proud the Senate passed this legislation today, which makes important improvements to the National Flood Insurance Program.    » read more »

May 12, 2008 -- Trenton - New Jersey Governor Jon S. Corzine today praised New Jersey's congressional delegation for its leadership for a stronger SCHIP program on behalf of the state's uninsured children. New Jersey's successful Family Care program currently covers 121,815 children.

I'm proud to say our Democratic congressional delegation has been out in front on this issue, and Congressman Pallone has led the charge in the House by giving a voice to the disadvantaged children of New Jersey," said Governor Corzine. "Providing adequate healthcare programs really are preventative medicine because they provide a less burdensome impact on hospital emergency rooms as well as on overall state budgets."    » read more »

Annual notice will provide information about flood insurance eligibility

May 12, 2008 -- Saint Paul – Minnesota Governor Tim Pawlenty signed legislation (S.F. 2980) today that requires insurance companies and agents to annually notify homeowners if their insurance policy does not include flood coverage.

Minnesota flooding: Photo by cjohnson7 (CC)

The required notice will also remind homeowners that they have the right to purchase flood insurance if they so choose.    » read more »

Efforts continue to expand the State Children’s Health Insurance Program

April 22, 2008 -- OLYMPIA – Backed by rulings on Friday by the Government Accountability Office (GAO) and the Congressional Research Service (CRS), Washington Governor Chris Gregoire today sent a letter to the Bush administration urging a withdrawal of a federal directive that prohibits Washington, and other states, from expanding access to health care coverage for tens of thousands of children.

A protester against George W. Bush's attempts to limit children's health insurance: Photo by socaltimes (CC)    » read more »