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Nebraska insurer fined for Colorado violations

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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 Nebraska insurer fined for Colorado violations

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Anthem to pay $20 million to policyholders

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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… Continue Reading Anthem to pay $20 million to policyholders

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Insurance division cancels Pinnacol meeting

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The Colorado Division of Insurance has cancelled a public hearing against Pinnacol Assurance that was scheduled for Wednesday. The division and Pinnacol have reached a tentative agreement on the problems and Pinnacol’s board of directors will vote on the settlement tomorrow. The hearing – the first time the division has taken the step in a… Continue Reading Insurance division cancels Pinnacol meeting

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A deadline of Aug. 31 has been set to to apply for refunds from an unlicensed health benefits company called American Trade Association. The Colorado Division of Insurance was alerted earlier this year that the company was selling unauthorized, and possibly non-existent, policies. ATA’s assets are being liquidated by the Tennessee Department of Commerce and… Continue Reading Deadline set to file claims against false insurance co.

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Insurance division extends Anthem review

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The Colorado Division of Insurance will continue its market conduct exam of Anthem Blue Cross and Blue Shield, also known as Rocky Mountain Hospital and Medical Service. The division begin its investigation in March after complaints that Anthem’s latest rate increases – which went as high as 25 percent – were too high. No deadline… Continue Reading Insurance division extends Anthem review

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Colorado’s workers are paying a higher share of health insurance premiums than their counterparts in the rest of the nation. The Colorado Division of Insurance released its annual report this week, and reported that while premiums in Colorado mirror increases nationwide, employees shoulder more of the payment than the national average. More Coloradans were also… Continue Reading Colorado workers pay higher share of premiums

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WellPoint undergoes national scrutiny

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Colorado’s investigation into Anthem’s premium increases is now being echoed throughout the country. Kathleen Sebelius, secretary of health and human services, sent a letter to state insurance commissioners Tuesday, calling for a national inquiry into the data underpinning rising health insurance costs. In Colorado, the state started an inquiry into increases in Anthem’s increase in… Continue Reading WellPoint undergoes national scrutiny

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Insurance division fines companies

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The Colorado Division of Insurance has fined three health insurance companies for violating the state’s insurance laws. Aetna Health Inc., Aetna Life Insurance Company and Cigna were fined after a review of their operations. Aetna Health paid a $294,000 fine, Aetna Life paid $330,000 and Cigna Healthcare was fined $32,000 for its violations. The Aetna companies… Continue Reading Insurance division fines companies

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Workers’ comp premiums to be cut nearly 10%

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At a time when insurance costs are skyrocketing, Colorado employers could see premiums for workers’ compensation insurance cut as much as $84 million. Colorado Insurance Commissioner Marcy Morrison said a 9.7 percent reduction in insurance premiums, known as loss costs, will go into effect next year. Savings to consumers will be significant, but smaller than the maximum… Continue Reading Workers’ comp premiums to be cut nearly 10%

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