Colorado is getting a $1 million federal grant to help plan for new health insurance exchanges. The grant, announced today, will help pay for the consumer-centered private health insurance marketplace required by federal health care reform. The exchanges will put greater control and greater choice in the hands of individuals and small businesses. Gov. Bill [...]
Continue reading …The Colorado Division of Insurance enacted emergency regulation today to keep child-only individual insurance policies in effect. The new regulation requires insurance carriers that offer the child-only policies to provide two open enrollment periods, a move designed to keep carriers in the market, as well as ease fears that parents will enroll children only after [...]
Continue reading …The Colorado Division of Insurance has fined International Fidelity Insurance Company $442,000 for violations of Colorado’s bail bond statutes. The fine is a result of a sweeping statewide investigation of bail bonds insurers. The company, which has offices in Greenwood Village, is licensed to provide a range of surety bonds in Colorado, but ran into trouble with its [...]
Continue reading …The Colorado Division of Insurance has fined Esurance, a California-based property and casualty insurer, $154,000 for various violations of the state’s market conduct regulations. Esurance sells automobile liability and physical damage insurance directly to Colorado residents via telemarketing and the company’s website. Those violations included: Failure to offer to exclude a specific driver and to [...]
Continue reading …Coloradoans who used American Underwriters Insurance will receive more than $875,000 in refunds from the Kansas-based insurance company. The Colorado Division of Insurance found that company used inaccurate rates and overcharged Colorado clients. The inaccuracies were discovered during a yearlong review of every insurance company offering credit insurance products in Colorado, an effort to ensure [...]
Continue reading …Employers can expect medical costs to increase by 9 percent next year, a slight decrease from the 2010 growth rate, according to a report from PricewaterhouseCoopers. For the first time, a majority of American workers is expected to have a health insurance deducible of more than $00 as more employers raise out-of-pocket limits, replace co-pays [...]
Continue reading …Ten million people now use health savings account insurance plans, an increase of 25 percent since last year, according to an annual report from America’s Health Insurance Plans, an industry trade group. The largest purchaser of the plans was the large-group market, which rose by 33 percent, followed by the small group coverage, which grew [...]
Continue reading …Small businesses will be able to pool together to buy insurance under the new federal health-care legislation passed earlier this month. By no later than 2014, states will have to set up small-business health options programs, or SHOP exchanges, where small businesses will be able to pool together to buy insurance at presumably lower premiums [...]
Continue reading …Humana will cut its work force by 5 percent, or 1,400 people, during 2010, the result of lower enrollment rates at the insurance company. The company plans to reduce the impact of 2,500 job cuts by adding 1,100 jobs in medical-cost containment, pharmacy management and specialty products – the company’s growth areas. Humana said the [...]
Continue reading …If insurance plans cost more, small businesses want more Small businesses say they are being shortchanged by their health insurance companies. A recent PricewaterhouseCoopers report shows businesses expect more from their insurance companies — They want more information, more technology and more health and wellness. Premiums continue to rise — particularly in the small group [...]
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