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Keyword: insurance

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  • Trump to end key ACA subsidies, a move that will threaten the law’s marketplaces

    10/12/2017 8:05:12 PM PDT · by NRx · 118 replies
    WaPo ^ | 10-12-2017 | Amy Goldstein
    President Trump is throwing a bomb into the insurance marketplaces created under the Affordable Care Act, choosing to end critical payments to health insurers that help millions of lower-income Americans afford coverage. The decision follows an executive order on Thursday to allow alternative health plans that skirt the law’s requirements. The White House confirmed late Thursday that it would halt federal payments for cost-sharing reductions, although a statement did not specify when. According to two people briefed on the decision, the cutoff will be as of November. The subsidies total about $7 billion this year. Trump has threatened for months...
  • Exclusive – Rand Paul on Trump Healthcare Executive Action: Congress Failed, Time to Act

    10/12/2017 9:55:03 AM PDT · by Rockitz · 27 replies ^ | 12 Oct 2017 | Sen. Rand Paul (R-KY)
    President Trump will today legalize and allow individuals to form Health Associations and purchase insurance across state lines. This is what real free market replacement looks like. Millions of Americans will be eligible to band together to demand less-expensive insurance. The 28 million individuals left behind by Obamacare will now be eligible for inexpensive insurance. The cost to the taxpayer? ZERO! As opposed to the trillion-dollar, “fake” replacements we voted on, this replacement simply legalizes choice. I’ve been working with President Trump and his Cabinet for months to get this done. How will it work? Well, nationwide associations like the...
  • Sen. Rand Paul Writes Op-Ed Explaining New Executive Order

    10/12/2017 9:40:13 AM PDT · by Kaslin · 17 replies ^ | October 12, 2017 | Christine Rousselle
    In an op-ed penned for Breitbart, Sen. Rand Paul (R-KY) explained that President Donald Trump's upcoming executive order--which would legalize the sale of health insurance across state lines--would come at zero cost for the taxpayer and would enable 28 million people "left behind" by Obamacare to purchase insurance cheaply. According to Paul, the executive order will create "Health Associations," which would allow people to create groups similar to large corporations in order to get lower premiums on their plans. Paul said that these Association Health Plans will "be among the biggest-free market reforms" of the healthcare industry in decades, and is...
  • Trump Poised to Sign Order Opening New Paths to Health Insurance

    10/08/2017 11:43:25 AM PDT · by reaganaut1 · 27 replies
    New York Times ^ | October 7, 2017 | Robert Pear
    WASHINGTON — Stymied in his efforts to repeal the Affordable Care Act, President Trump is poised to issue an order that could ease some federal rules governing health insurance and make it easier for people to band together and buy coverage on their own, administration officials said Saturday. One official said the directive could move the president a step closer to one of his longstanding goals: allowing consumers to buy health insurance across state lines. Conservatives say that interstate sales could expand options for consumers, increase competition in the insurance market and perhaps lower costs. The order, which the administration...
  • Trump preparing executive order to let Americans purchase health insurance across state lines

    09/27/2017 2:38:18 PM PDT · by blueyon · 76 replies
    WashingtonExaminer ^ | 9/27/17 | by Gabby Morrongiello
    President Trump is preparing an executive order to allow people to purchase health insurance across state lines, a reform conservatives have long championed as a way to bring costs down and stir greater competition in the national marketplace. The executive action gives the White House a chance to follow through on at least one promise related to healthcare reform after Senate Republicans' second attempt to overhaul Obamacare failed this week. Kentucky Sen. Rand Paul "I think there's going to be big news from the White House in the next week or two, something they can do on their own," Paul...
  • EU, US seal insurance sector deal after 20 years of talks

    09/22/2017 11:53:37 PM PDT · by 2ndDivisionVet · 4 replies
    WRAL-TV ^ | September 22, 2017 | The Associated Press
    BRUSSELS — The European Union and the United States are signing a major agreement on insurance and reinsurance, capping off 20 years of discussions and a year of negotiations. The EU Commission said Friday that the deal will let reinsurers boost their investment capacity, and that the accord offers more regulatory certainty without watering down consumer protection. A big advantage for EU reinsurers is that the agreement does away with the need for around $40 billion that they have paid as collateral to sign reinsurance contracts in the United States.....
  • Summary of Graham-Cassidy-Heller-Johnson Amendment [obamacare modification]

    09/22/2017 7:32:46 AM PDT · by Sequoyah101 · 32 replies
    Kiaser Family Foundation ^ | 9-2017 | Kaiser Family Foundation
    This summary describes key provisions of a proposal by Senators Graham, Cassidy, Heller, and Johnson. drafted as an amendment in the nature of a substitute to HR 1628, the House-passed bill to repeal and replace the Affordable Care Act (ACA).
  • How to Ensure...Graham–Cassidy Bill Expands Markets and Choice in Health Care...

    09/20/2017 6:27:02 PM PDT · by SoFloFreeper · 13 replies
    Heritage ^ | 9/20/17 | Edmund Haislmaier and Robert Rector
    The Senate faces a September 30, 2017, deadline to use budget reconciliation to repeal Obamacare this year. In the wake of the Senate’s recent failure to repeal and replace Obamacare, Senators Lindsey Graham (R–SC) and Bill Cassidy (R–LA) have released an updated version of their bill in a renewed effort to take advantage of this expiring legislative vehicle. Like others considered this year, Graham–Cassidy falls short of fully repealing Obamacare and replacing it with a new patient-centered system, but it does include significant improvements over current law by repealing the individual and employer mandate tax penalties, providing Medicaid reform, and...
  • Geico to hire hundreds, build $12 million facility Florida)

    09/20/2017 5:02:41 PM PDT · by 2ndDivisionVet · 4 replies
    The Ledger ^ | September 19, 2017 | John Chambliss
    LAKELAND — Geico plans to add between 300 and 500 new jobs and build a new $12 million, 50,000-square-foot facility near its current site in Southwest Lakeland. Both the city and county will offer big tax refunds to the second-largest auto insurer in the nation. On Tuesday, county commissioners approved a package that provides $369,000 in incentives over five years to Geico if the company meets certain hiring targets each year. The city of Lakeland is offering the same $369,000 incentive package to Geico, which has its current building at 3535 W. Pipkin Road. Other incentives were approved for Geico....
  • Sen. Rand Paul says he’s pushing Trump to allow health insurance purchases across state lines

    09/19/2017 4:20:39 PM PDT · by 2ndDivisionVet · 50 replies
    The Washington Times ^ | September 19, 2017 | Sally Parsons
    Sen. Rand Paul said Tuesday that he’s pushing President Trump to allow people to buy health insurance across state lines. “What I would do, and what I’ve been talking to President Trump about, is I think we should allow people to buy across state lines through health care associations, and actually I think the president is going to do this on his own within a week or two, and I think this could help millions and millions of people get affordable insurance,” Mr. Paul, Kentucky Republican, said on Fox News. “It’s not a federal program, and it doesn’t cost any...
  • Insurance giant adding 60 jobs, investing $1M in Grand Rapids tech center (Michigan)

    09/16/2017 6:29:51 PM PDT · by 2ndDivisionVet · 1 replies
    The Bay City Times ^ | September 6, 2017 | Jim Harger
    GRAND RAPIDS, MI - One year after opening an information technology center in southeast Grand Rapids, Auto-Owners Insurance announced a $1 million expansion of that office that will add 60 new technology jobs. The Lansing-based insurance company moved into offices at 3949 Sparks Drive SE in August, 2016 and has hired 20 technology professionals. Since then, the Grand Rapids technology center has experienced rapid growth and company officials believe that trend will continue over the next three years, according to an announcement by The Right Place Inc. on Wednesday, Sept. 6. The company intends to invest significant resources in recruiting,...
  • OUR VIEW: Brown & Brown invests in home (600 new insurance jobs in Daytona, Florida)

    09/05/2017 6:37:00 PM PDT · by 2ndDivisionVet · 3 replies
    It could transform the way the community thinks of itself. Daytona Beach finally landed “the big one.” And to think it’s been here the whole time. The announcement Friday that Brown & Brown Insurance plans to build a 10-story, $25 million headquarters on Beach Street and bring 600 additional employees to downtown was remarkable, not just for its impact on the local economy, but also for the fact it was a local business. So much of the community’s focus on economic development has involved pursuing outside investment, hoping to lure grand hotels, high-rise condos and sprawling retail complexes to build...
  • Hurricane Harvey’s Massive Flooding Also Destroyed Hundreds of Thousands of Cars

    09/04/2017 11:18:45 PM PDT · by AZLiberty · 59 replies
    Fortune ^ | September 3, 2017 | Jennifer Calfas
    Hurricane Harvey's massive flooding has displaced tens of thousands of people and destroyed tens of thousands of homes across southeast Texas and Louisiana. Now, Wired reports Harvey's devastating path has also left as many people without cars. Insurance companies have received at least 100,000 claims for cars impacted by Harvey, according to Wired. Seventy-five percent of those claims have been for totaled cars, with the number of claims expected to rise. Others estimate Harvey has destroyed up to five times more: Cox Automotive chief economist Jonathan Smoke told USA Today he believes 300,000 to 500,000 vehicles were destroyed by Harvey's...
  • Health Insurer Tax (HIT) Will be Back in Effect in 2018

    08/22/2017 8:53:06 PM PDT · by Pocketdoor
    The Affordable Care Act (section 9010) created an annual fee on certain health insurance providers beginning in 2014. This is often referred to as the “HIT tax” or health insurer tax. The HIT tax was suspended for the 2017 calendar year but it will again be effective as of January 1, 2018. If you will have an insured group health plan in 2018, keep this in mind when you review 2018 rate quotes from health insurers. Here’s Why this is Important Some carriers have estimated that the HIT tax will be about 3% in 2018, although amounts will vary among...
  • Allstate to create 2,250 jobs with North Carolina expansion

    08/09/2017 10:24:18 AM PDT · by 2ndDivisionVet · 10 replies
    WTOP-TV ^ | August 9, 2017 | The Associated Press
    CHARLOTTE, N.C. (AP) — Allstate Insurance Co. announced on Wednesday plans to more than double its North Carolina workforce by expanding in the Charlotte area, investing more than $22 million and creating 2,250 new jobs by 2020. Gov. Roy Cooper and leaders of the nation’s largest publicly-traded personal insurance company were joined by local leaders in announcing the expansion, beginning in 2018, at the Charlotte Chamber office. Allstate listed a wide range of jobs to be filled, but a company official said they were still working on specifics. “We’re still putting the final touches on them,’ said Harriet Harty, Allstate...
  • Maybe it's time to pull the plug on health insurance

    08/04/2017 11:41:01 PM PDT · by 2ndDivisionVet · 66 replies
    CNBC ^ | August 4, 2017 | Jake Novak
    There's nothing like the sight of Republicans and Democrats working together and scrambling to save big time government aid to super-rich corporations. Whether it's a bailout for major banks, tax credits for Big Oil, or big subsidies for large agriculture businesses, this kind of crony capitalism seems to anger almost everyone but nobody really does anything about it. Now, we're about to witness another scramble to provide our hard-earned taxpayer money into the pockets of an industry that's already raking in the big bucks. The Senate Health Committee is going to hold hearings in September to find ways to keep...
  • Insurers seeking huge premium hikes on ObamaCare plans

    08/02/2017 8:49:25 AM PDT · by Kaslin · 56 replies
    Fox ^ | August 2, 2017
    Top health insurance companies in numerous states are looking to hike premiums by double-digits – some by roughly 30 percent or more – for ObamaCare plans in 2018, according to newly released figures that could light a fire under stalled efforts on Capitol Hill to fix the program. “A lot of us have lost focus on the fact that the system we have doesn’t work,” White House Budget Director Mick Mulvaney told “Fox & Friends” on Wednesday, referring to the proposed premium hikes. The Wall Street Journal reported that major insurers in Idaho, West Virginia, South Carolina, Iowa and Wyoming...
  • Galveston County men accused of destroying airplanes, defrauding insurance companies

    07/31/2017 7:32:49 AM PDT · by KeyLargo · 11 replies
    Galveston News ^ | July 29, 2017 | Matt Degrood
    Galveston County men accused of destroying airplanes, defrauding insurance companies By MATT DEGROOD The Daily News Jul 29, 2017 2 Two Galveston County men face multiple wire fraud charges in what federal law enforcement officers allege was a plan to destroy aircraft and other vehicles for insurance money, according to an indictment unsealed Tuesday in federal court. Theodore Robert Wright III, of Kemah and Las Vegas, and Shane Gordon, of League City, were among four people charged with fraud and conspiracy in the U.S. District Court Eastern District of Texas in Tyler, records show. Both men are charged with one...
  • CBO's Secret: 73% Of Coverage Difference Between Obamacare & GOP Bills Driven By Individual Mandate

    07/24/2017 10:13:48 AM PDT · by Lorianne · 17 replies
    Forbes ^ | 22 Juy 2017 | Avik Roy
    If you’ve read a newspaper or watched cable news in the last month, you’ve probably seen someone say that the Senate GOP health care bill would “kick 22 million Americans off of their health insurance.” But it’s not true. New information from the Congressional Budget Office—leaked to me by a congressional staffer—shows why. CBO’s faith in the individual mandate’s magical powers For years, the CBO has been convinced—despite real-world experience to the contrary—that Obamacare’s individual mandate is the biggest reason why that law has increased the number of Americans with health insurance. When Senator Barack Obama ran against Hillary Clinton...
  • Democrats open to single-payer health insurance, a party leader (Chuckles Schumer) says

    07/23/2017 1:16:15 PM PDT · by Libloather · 28 replies
    ABC News ^ | 7/23/14 | CHRISTINA POWELL
    The Democratic Party will consider proposing a single-payer health insurance system, Sen. Chuck Schumer of New York said. “We’re going to look at broader things [for the nation’s health care system.] Single-payer is one of them,” Schumer said to ABC News Chief Anchor George Stephanopoulos on “This Week” Sunday. The top Democrat in the Senate added that single-payer is among a number of health insurance options. “Many things are on the table,” Schumer said. “Medicare for people above 55 is on the table. A buy-in to Medicare is on the table. Buy-in to Medicaid is on the table.”