Insurance division returns $12.5m to Colo. consumers
Colorado consumers received more than $12.5 million in recovered insurance benefits during the last fiscal year, said the Colorado Division of Insurance in its annual complaint report. The amount is more than the $11.7 million given back to consumers in the previous fiscal year. The division recently published its annual analysis of the consumer complaints [...]
A scammer is calling Colorado residents promising refund checks from the “Colorado Insurance Commission” in an effort to get banking information. The Colorado Division of Insurance sent out a warning this week to consumers saying that they should never give out personal banking information over the phone. Here’s the setup: a caller claims to be [...]
Continue reading …A new health insurance website launched today from the Colorado Division of Insurance hopes to answer the questions about the cost of health insurance — questions that plague Coloradans, officials said. “This new website will help arm consumers with the facts on what drives the cost of health insurance premiums, how to shop smart for [...]
Continue reading …Colorado’s Senior Medicare Patrol is tough on Medicare fraud and was recently recognized for its efforts. The Colorado Division of Insurance’s Senior Medicare Patrol received three national awards for its role in combating Medicare fraud. Colorado was recognized for being among the states with the highest number of Medicare fraud cases referred for investigation – [...]
Continue reading …The Colorado Division of Insurance says the average annual rate increase this year was 12.9 percent. And, it’s expected to keep rising in 2011. Some factors that affect costs include: “claims experience,” or how many claims were filed in the prior year and how severe they were; medical costs, including doctors, hospital charges, laboratory services [...]
Continue reading …The Colorado Division of Insurance fined Pioneer General Insurance Co. $533,000 for violations of insurance law related to the Colorado bail bond business. Pioneer General is licensed to provide a range of surety bonds in Colorado, but the recent market conduct examination focused on its bail bond business. According to figures reported to the division, [...]
Continue reading …Marcy Morrison, commissioner of the Division of Insurance, will retire at the end of November. Gov.-elect John Hickenlooper will appoint her replacement as part of his transition plans for 2011. But Morrison doesn’t plan to wait. “Typically, December and January are a slow time of year,” she said. “And insurance companies are going to want [...]
Continue reading …Aetna will no longer offer small group insurance in Colorado starting Friday, according to reports from Colorado Managed Care News. The insurance company decided it “could no longer meet the needs of our customers” while remaining competitive in the small group market. That group includes employers with between two and 50 people. Aetna declined to [...]
Continue reading …World Insurance Company has paid a $153,000 fine for not providing coverage to Colorado customers that it promised, a violation of state insurance law. The Colorado Division of Insurance cited the Nebraska-based company for: failure to provide coverage for procedures that were preauthorized by the company; failure to provide complete benefits for newborns, including an overly restrictive [...]
Continue reading …Anthem will pay about 90,000 policyholders in Colorado a total of $20 million under the terms of a settlement with the Colorado Division of Insurance. The money will go to people who were insured by Anthem’s individual health insurance policies from Jan. 1 to Sept. 30 of this year. The settlement came as a result [...]
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