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Health plans must spend premiums on medical care

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Health insurance premiums should go for actual medical care – not insurers’ overhead and profits – the Obama administration said Monday in rules that for the first time require the companies to give consumers a rebate. The regulation unveiled by the Health and Human Services department calls for insurance companies to spend at least 80… Continue Reading Health plans must spend premiums on medical care

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Little to connect rate hikes, reforms

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National health care reform apparently has little to do with the double-digit increases in health insurance premiums projected in Colorado for 2011. According to a review by state insurance department actuaries, the reforms adopted this spring account for no more than 5 percent of next year’s premium hikes. A raft of other factors is responsible… Continue Reading Little to connect rate hikes, reforms

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Former President George W. Bush and his Vice President Dick Cheney are set to be in Colorado this week to speak at an insurance forum. Cheney is listed as the keynote speaker Monday at the 97th annual Insurance Leadership Forum, at The Broadmoor. Bush is listed on the insurance group’s website as speaking on Tuesday.… Continue Reading Bush, Cheney set to speak at Colo. insurance forum

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Morrison: Keeping a close eye on insurers

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Remember Granny, the character in the “Sylvester and Tweety” Looney Tunes cartoons? Continue Reading Morrison: Keeping a close eye on insurers

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Colo. gets $1 million federal health care grant

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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 Colo. gets $1 million federal health care grant

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DOI issues emergency regulation for child policy

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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 DOI issues emergency regulation for child policy

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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 State begins bail-bond insurer investigation, fines company $442,000

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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 Esurance fined $154,000 for market conduct violations

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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 Kansas insurance company overcharged Colorado customers

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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 Employer medical costs expected to increase in 2011

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