Keyword: insurers

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  • In advance of tonight’s health care speech, Trump asks insurers to help achieve a smooth transition

    02/28/2017 11:25:29 AM PST · by Sean_Anthony · 5 replies
    Canada Free Press ^ | 02/28/17 | Dan Calabrese
    It's coming Tonight’s address to Congress will be the first of the Trump presidency, and it will be heavy on policy matters - especially as it relates to what’s coming next following the imminent repeal of ObamaCare. To help lay the groundwork for that, Trump met yesterday with many of the insurers who’ve been losing their shirts on ObamaCare exchanges and asked them to get on board and help ensure a smooth transition: Trump told the insurers that his changes would include expanded healthcare savings accounts, which are tax-free savings accounts typically used with high-deductible insurance plans, and the sale...
  • ObamaCare crashing: Insurers seek massive rate hikes . . . if they’re staying in at all

    08/11/2016 9:36:45 AM PDT · by Sean_Anthony · 41 replies
    Canada Free Press ^ | 08/11/16 | Dan Calabrese
    Gigantic losses put exchanges on the brink, send program careening into chaos Remember when everyone watching ObamaCare was focused on how many people had signed up? First they needed 7 million, then 11 million, and on it went as new targets replaced the old. These weren’t meaningless - at least it didn’t appear that way. The targets represented the critical mass the Obama Administration itself said the program needed to be economically sustainable. Insurance, they told us, is about risk pools. If you’ve got enough people in the risk pool, you’d have enough premiums being paid in to cover those...
  • Feds Hide Secret List Of 11 Staggering Obamacare Insurers

    10/19/2015 2:40:32 AM PDT · by markomalley · 8 replies
    Daily Caller ^ | 10/19/15 | Richard Pollock
    Federal officials have a secret list of 11 Obamacare health insurance co-ops they fear are on the verge of failure, but they refuse to disclose them to the public or to Congress, a Daily Caller News Foundation investigation has learned.Just in the last three weeks, five of the original 24 Obamacare co-ops announced plans to close, bringing the total of failures to nine barely two years after their launch with $2 billion in start-up capital from the taxpayers under the Affordable Care Act.All 24 received 15-year loans in varying amounts to offer health insurance to poor and low income customers...
  • Bill Clinton to Give Secret Address to Health Insurers "No press is allowed."

    06/03/2015 11:46:19 AM PDT · by Nachum · 24 replies
    The Weekly Standard ^ | 6/3/15 | MICHAEL WARREN
    Former president Bill Clinton will be the keynote speaker at a conference of health-insurance executives this week. America's Health Insurance Plans, the largest health-insurance provider trade group in the country, is holding its Institute 2015 conference in Nashville this week. Clinton, whose wife Hillary is running for president, will close out the conference Friday afternoon with his address to attendees. "The session is open to Institute attendees (who have registered and paid for the entire Institute) and Friday only registrants," says the conference's website. "No press allowed."
  • A Look At Direct Primary Care

    11/07/2014 8:41:41 AM PST · by Oldpuppymax · 7 replies
    Coach is Right ^ | 11/7/14 | Michael D. Shaw
    Let’s start with the doctor/patient relationship—the disappearance of which has been lamented by many. The pertinent definition of “relationship” in the Oxford Dictionaries deems it: “The way in which two or more people or organizations regard and behave toward each other.” In one sense, every patient wants to be treated well by his physician, and in many cases, so-called “continuity of care” is most desirable. Likewise, the physician may wish to spend more time with a particular patient, but is forced by economic realities to rush the process. Perhaps, some of this search for the ideal doctor/patient relationship is driven...
  • Former O-Care adviser: Health insurers will be ‘dead’ by 2025

    07/01/2014 5:15:41 PM PDT · by george76 · 23 replies
    Hill ^ | 07/01/14 | Jesse Byrnes
    A key former adviser behind President Obama's healthcare law said the traditional role of health insurers would be "dead" by 2025, predicting massive changes in the industry. "By 2025, insurance companies as we know them — taking in premiums and paying out — dead," Ezekiel Emanuel ... Emanuel, the older brother of former White House chief of staff and current Chicago Mayor Rahm Emanuel, has long argued that health insurers will shift away an employer-based system. By 2025.. ... Most Americans currently receive health insurance through their employers. ObamaCare includes an employer mandate, which requires companies with 50 or more...
  • Guess How Many Insurance Officials Raise Their Hands When Asked if Premiums Will Decrease By $2500..

    05/08/2014 12:09:18 PM PDT · by PoloSec · 3 replies
    Right Wing News ^ | May 82014 | Cassy Fiano
    Complete Title...Guess How Many Insurance Officials Raise Their Hands When Asked if Premiums Will Decrease By $2500 Like Obama Promised? We were given a lot of promises about Obamacare, from seeing premiums decrease to being able to keep our plans if we liked them — none of which, of course, ended up being true. And apparently, major insurance officials knew that premiums wouldn’t decrease, too. During a House hearing on Wednesday, Rep. Morgan Griffith (R-Va.) asked a group of seven insurance officials to raise their hands if they anticipated a premium reduction of $2,500 or more for the average American...
  • Insurers see double-digit Obamacare price rises in many states next year

    03/21/2014 7:27:16 PM PDT · by NormsRevenge · 18 replies
    Yahoo! News ^ | 3/21/14 | David Morgan and Caroline Humer - Reuters
    (Reuters) - U.S. consumers eligible for Obamacare health plans could see double-digit price hikes next year in states that fail to draw large numbers of enrollees for 2014, including some states that have been hostile to the healthcare law, according to insurance industry officials and analysts. The early estimates come as insurance companies set out to design plans they intend to sell in 2015 through the state-based health insurance marketplaces that are a centerpiece of the Affordable Care Act, President Barack Obama's signature domestic policy achievement that is widely referred to as Obamacare. WellPoint Inc, which sells plans on 14...
  • Steep market selloff continues weak 2014 for stocks, Dow tumbles over 300 points

    02/03/2014 1:54:13 PM PST · by SeekAndFind · 18 replies
    After a blistering four-month rally that took stocks to record highs last year, January could not have been more different, as the Dow Jones Industrial Average (^DJI) fell more than 5%. In the first month of the year, traders worried the financial health of both the U.S. and smaller nations meant stocks were too dangerous to continue owning for the time being, especially after a nearly uninterrupted rise that began in early 2009. Those jitters continued on the first trading day in February, driven by weakness in a manufacturing index from the Institute for Supply Management. By the close of...
  • Secretary Says Insurers Should Waive Premiums

    12/14/2013 7:49:33 AM PST · by John Semmens · 24 replies
    Semi-News/Semi-Satire ^ | 13 Dec 2013 | John Semmens
    While the Government continues to struggle with what seem to be insurmountable problems with the Affordable Care Act's implementation, Health and Human Services Secretary Kathleen Sebelius urged insurers to “cover whoever claims to have insurance.” “We fully understand that under normal conditions insurance isn't effective until the insured has paid a premium for coverage,” Sebelius said. “However, we aren't dealing with normal conditions. Many who have tried to sign up for insurance haven't been successful. For many of those who have been told they're signed up our system hasn't been able to properly bill them. Some have assumed that the...
  • No Payment System? No Problem

    12/05/2013 9:43:05 AM PST · by Oldpuppymax · 17 replies
    Coach is Right ^ | 12/5/13 | Michael D. Shaw
    One of the many huge issues with the infamous website, that is only now getting the notoriety it deserves is this: There is currently no mechanism to get payments from the enrollees to the prospective insurance companies. But, hey…No prob, bro. The insurance companies can simply submit their estimates to the Feds, who will get them the money—all to be settled up later. Quoting from the article… Health plans will estimate how much they are owed, and submit that estimate to the government. Once the system is built, the government and insurers can reconcile the payments made with the...
  • Scapegoated insurers fire back at Obama over “administrative fix”

    11/14/2013 1:40:02 PM PST · by SeekAndFind · 44 replies
    Hotair ^ | 11/14/2013 | AllahPundit
    Don’t cry for these people, needless to say. They helped make ObamaCare happen. They were only too happy to see healthy young adults forced into buying their product by a constitutionally dubious mandate and to gouge healthy middle-class people with the new, more expensive plans required by the exchanges. They wouldn’t have partnered with the White House if this wasn’t a payday for them. But now they’re screwed twice over: Not only are Democrats trying to make them the fall guy for the cancellations, they’re looking at their payday melting down into red ink if they take Obama’s “advice” and...
  • 73,000 losing coverage as insurers drop plans (In Maryland)

    11/04/2013 6:31:47 PM PST · by icwhatudo · 58 replies
    Baltimore Sun ^ | 11/4/2013 | Meredith Cohn,
    About 73,000 policy holders around the state will lose their insurance in coming months because nine insurance companies are dropping some health plans that were not grandfathered under the Affordable Care Act, the Maryland Insurance Administration confirmed Monday.
  • Insurers reportedly receiving faulty data from ObamaCare exchanges

    10/18/2013 7:51:20 AM PDT · by sheikdetailfeather · 13 replies
    Fox News ^ | 10-17-2013 | Greta VanSusteren
    Insurers say faulty data from ObamaCare marketplaces is straining their ability to handle even the first wave of consumers who were able to sign up for health insurance using federally run exchanges during the glitch-ridden rollout of the new law. Executives at more than a dozen health insurance companies say they have received data from online marketplaces that is riddled with errors, including duplicate enrollments, missing data fields and spouses reported as children, The Wall Street Journal reported Thursday. "The longer this takes to resolve…the harder it will be to get people to [come back and] sign up," Aetna CEO...
  • HHS on Health Insurers' Costs: 'Expenses Like Profits and Red Tape'

    06/20/2013 4:38:31 PM PDT · by Nachum · 4 replies
    Weekly Standard ^ | 6/20/13 | JERYL BIER
    The Department of Health and Human Services (HHS) put out a press release today promoting the savings to consumers from Obamacare in 2012. The department claims that the average consumer receiving a refund will get about $100 as a result of rules on how insurers must spend premium dollars. The press release contains the following curious characterization of ineligible expenses health insurers might incur: Created through the Affordable Care Act, the rule requires insurers to spend at least 80 cents of every premium dollar on patient care and quality improvement. If they spend a higher amount on other expenses like...
  • Insurers predict 100%-400% Obamacare rate explosion

    05/13/2013 7:02:31 PM PDT · by Nachum · 40 replies
    Washington Examiner ^ | 5/13/13 | Paul Bedard
    Internal cost estimates from 17 of the nation´s largest insurance companies indicate that health insurance premiums will grow an average of 100 percent under Obamacare, and that some will soar more than 400 percent, crushing the administration´s goal of affordability. New regulations, policies, taxes, fees and mandates are the reason for the unexpected "rate shock," according to the House Energy and Commerce Committee, which released a report Monday based on internal documents provided by the insurance companies. The 17 companies include Aetna, Blue Cross Blue Shield and
  • Risk Management Advice to Physicians and their Insurers: Don’t Borrow Trouble

    01/17/2013 11:23:11 AM PST · by Stanwood_Dave · 8 replies
    2000 | Joe Horn
    Since retiring and leaving Law Enforcement, I have been active in Risk Management consulting, a field that has grown rapidly throughout every industry over the past 20 years. Some of the companies I have consulted to for risk management include IBM, Gates Lear jet, National Semiconductor, and Pinkerton International Protection Services.
  • Medical Practices and Health Insurers Must Use New Federally Mandated Medical Codes...

    02/07/2011 10:53:48 AM PST · by Nachum · 25 replies
    Cybercast News Service ^ | 2/7/11 | Susan Jones
    ( - U.S. health care providers and health plans have two years left to adopt a new federally mandated system of medical coding--the shorthand used to list what's wrong with a patient and how much that patient should be charged. The new, vastly expanded coding system is intended to improve disease management, disease monitoring, and health care reimbursement. This will be the first major overhaul of the medical coding system in 30 years, and it is separate from the government’s push to have health care providers switch from paper records to electronic health records.
  • Big labor's ObamaCare escape hatch

    01/29/2011 2:50:09 AM PST · by Scanian · 22 replies
    NY Post ^ | January 28, 2011 | Michelle Malkin
    President Obama's storytellers re cently launched a White House blog series called "Voices of Health Reform," where "readers can meet average Americans already benefiting from the health reform law." I propose a new series: "Voices of Health Reform Waivers," where taxpayers can meet all the politically connected unions benefiting from exclusive get-out-of-ObamaCare passes -- after squandering millions of their workers' dues to lobby for the law from which they are now exempt. At the end of last year, the Department of Health and Human Services had granted some 222 temporary waivers to businesses small and large, insurers, labor and other...
  • New Rules Tell Insurers: Spend More on Care

    11/24/2010 1:29:21 PM PST · by ChicagoConservative27 · 30 replies
    WASHINGTON — The Obama administration issued new federal rules on Monday that will require many health insurance companies to spend more on medical care and allocate less to profits, executive compensation, marketing and overhead expenses. The rules, intended to benefit consumers, vastly expand federal authority to direct the use of premiums collected by companies like Aetna, Humana, UnitedHealth and WellPoint. While some states have had such requirements, Monday’s announcement is the first such mandate by the federal government and grows out of the new national health care law. “Millions of Americans will get better value for their health insurance premium...
  • New rule could send some insurers packing

    10/18/2010 10:35:16 PM PDT · by MamaDearest · 9 replies ^ | October 18, 2010 | Parilia Kavilanz, Senior Writer
    Snips from excerpt only website: NEW YORK ( -- Industry experts say more insurers will drop health care coverage or go out of business if they are forced to meet a Jan. 1 deadline that requires them to boost the money devoted to providing care. Under health reform, beginning 2011, insurance companies will have to spend 80% to 85% of the premiums they collect on care instead of toward their own profits and overhead costs. Beginning in 2012 If insurers don't increase that loss ratio to 80 cents per dollar paid, they will have to give customers a rebate for...
  • New rule could send some insurers packing

    10/18/2010 11:32:16 AM PDT · by Signalman · 12 replies
    CNNMoney ^ | 10/18/2010 | Paija Kavlanz
    NEW YORK ( -- Industry experts say more insurers will drop health care coverage or go out of business if they are forced to meet a Jan. 1 deadline that requires them to boost the money devoted to providing care. The Obama administration is awaiting the recommendation of the National Association of Insurance Commissioners, meeting in Orlando this week, for how and when to implement key changes to the "Medical Loss Ratio" rule. For example, some plans have a 40% loss ratio. That means individuals could be paying $1 for 40 cents of care. Beginning in 2012 If insurers don't...
  • Mass. mess: ObamaCare's ugly future

    08/16/2010 3:07:55 AM PDT · by Scanian · 15 replies
    NY Post ^ | August 16, 2010 | SALLY PIPES
    Massachusetts' strug gle to make "universal health insurance" work continues to be an excellent peek at what the entire nation faces when ObamaCare kicks in -- and the picture remains ugly. Gov. Deval Patrick has just reached a truce with three of the four top insurers in the state, compromising on this year's rate hikes for the small-business and individual markets. Plus, the state last week passed a law allowing some small businesses to form cooperatives to bargain jointly for health plans. But the numbers still don't add up. When the Bay State passed its health-reform law in 2006, 9...
  • Mass. health meltdown is your future

    05/25/2010 3:56:10 AM PDT · by Scanian · 10 replies · 636+ views
    NY Post ^ | May 25, 2010 | SALLY PIPES
    The future of US medicine under ObamaCare is already on display in Massachusetts. The top four health insurers there just posted first-quarter losses of more than $150 million. Most of them blamed the state's decision to keep premiums at last year's levels for individual and small-business policies, when they'd proposed double-digit hikes to match the soaring costs they've seen under the state's universal-coverage law. The companies have gone to court to challenge the state's action -- it apparently had no basis for its ruling beyond the political needs of Gov. Deval Patrick. If they win, Bay State health premiums will...
  • Massachusetts Insurers Blame Caps On Rate Increases For Large Losses

    05/18/2010 1:05:26 PM PDT · by Nachum · 9 replies · 430+ views
    kaiser health news ^ | 5/18/10 | staff
    The Boston Globe: Four of Massachusetts largest health insurers posted first-quarter losses with three blaming Gov. Deval Patrick's rate increase caps for the bulk of the financial hit that totaled more than $150 million. "The carriers attributed $116 million of their $152 million in losses to the April 1 ruling by the state Division of Insurance to deny most proposed premium increases for the so-called small-group market.
  • Mass. medical mess

    04/10/2010 3:21:51 AM PDT · by Scanian · 5 replies · 628+ views
    NY Post ^ | April 10, 2010 | Rich Lowry
    President Obama has an unsettling defense of his health-care reform -- it's merely a version of the plan implemented by Massachusetts. Obama wants to associate his reform with the one championed by Mitt Romney in 2006 when he was governor of the Bay State. If the liberal Democrat Obama and the conservative Republican Romney passed similar plans, what can be so radical about Obama's reform? This is superficially clever. It not only gives Obama's plan a centrist patina, it shines a light on a significant obstacle to Romney's likely repeat bid for the Republican presidential nomination. Except for the fact...
  • Obama allies: Now we can stop pretending the insurers are the enemy

    03/31/2010 11:17:12 AM PDT · by Whenifhow · 14 replies · 1,379+ views
    Washington Examiner ^ | 3-31-2010 | Timothy P. Carney
    Do you remember how the Democrats framed the health-care “reform” fight as a battle against the insurance industry and its allies? Obama said the bill represented “standing up to the special interests.” Democratic House members attacked “reform” opponents regularly with statements like “We can either stand with the American people or with the insurance companies.” Majority Leader Harry Reid put it this way: “It’s about whether you will fight for insurance company profits, or for families’ peace of mind.” You could easily come up with dozens of similar examples with five minutes of searching the Web. Snip Now, that same...
  • Face-off: Kathleen Sebelius confronts insurers

    03/10/2010 12:00:27 PM PST · by Nachum · 26 replies · 789+ views
    politico ^ | 3/10/10 | CARRIE BUDOFF BROWN
    Health and Human Services Secretary Kathleen Sebelius confronted insurance executives at their annual conference Wednesday — challenging them to divert millions in anti-reform advertising dollars toward cutting premiums and reciting a litany of insurance horror stories, to a decidedly chilly response. The head of the insurance lobby made clear later that she’s heard enough industry-bashing out of the White House.
  • Obama: repeal health insurers antitrust exemption

    02/23/2010 3:05:46 PM PST · by Nachum · 23 replies · 619+ views
    Breitbart ^ | 2/23/10 | RICARDO ALONSO-ZALDIVAR
    WASHINGTON (AP) - President Barack Obama urged Congress on Tuesday to strip health insurers of their decades-old exemption from federal antitrust laws—hardening his stand against the industry as he tries to revive his stalled health care overhaul. The White House announced Obama's support for a House bill that would repeal the industry's antitrust exemption, saying that would foster a more competitive marketplace that benefits consumers. The announcement follows Obama's call for new federal rate-setting powers that would give the Health and Human Services department the power to deny excessive increases in health insurance premiums. "Removing this exemption will allow appropriate...
  • How 'reform' leads to more uninsured

    10/22/2009 3:14:56 AM PDT · by Scanian · 312+ views
    NY Post ^ | October 22, 2009 | MICHAEL O. LEAVITT & JEFFREY H. ANDERSON
    Imagine you're driving in a city, trying to find a place to park your car for the whole day. A parking garage costs $30. Right next to the parking garage entrance, you eye a parking spot on the street. Next to the curb is a sign that says, "No parking. Fine $5. No-tow zone." Many people wouldn't choose the garage. Likewise, imagine if you saw a sign that says, "Health insurance for sale: $200 a month," and right next to it was another sign. This one says, "Fine for not buying insurance: $33 a month -- but you can still...
  • Obama Threatens Insurers’ Anti-Trust Exemption [Expose 0 and Expect Retaliation!]

    10/17/2009 1:44:42 PM PDT · by Steelfish · 39 replies · 1,527+ views
    NYTimes ^ | October 17th 2009
    Obama Threatens Insurers’ Anti-Trust Exemption By PETER BAKER Published: October 17, 2009 WASHINGTON — President Obama mounted a frontal assault on the insurance industry on Saturday, accusing it of using “deceptive and dishonest ads” to derail his health care legislation and threatening to strip the industry of its longstanding exemption from federal antitrust laws. In unusually harsh terms, Mr. Obama cast insurance companies as obstacles to change interested only in preserving their own “profits and bonuses” and willing to “bend the truth or break it” to stop his drive to remake the nation’s health care system. The president used his...
  • What's so great about private health insurance? (Do insurer's pay a role in the healthcare crisis?)

    08/03/2009 1:58:55 PM PDT · by SeekAndFind · 54 replies · 910+ views
    Los Angeles Times ^ | 8/3/2009 | Michael Hiltzik
    Throughout the heroic struggle in Congress to provide a "public option" in health insurance, one question never seems to get answered: Why are we so intent on protecting the private option? The "public option," as followers of the debate know, is a government-sponsored health plan that would be available as an alternative to, and in competition with, the for-profit health insurance industry, otherwise known as the private option. [...] So it's proper to remind ourselves what that American way entails. For if the insurers have proved anything over the last 15 years as the health crisis has gathered speed like...
  • Rep. Jan Schakowsky tells group that the govt. seeks to bankrupt private insurers

    06/23/2009 12:04:35 PM PDT · by seven.sixtwo · 7 replies · 920+ views
    Congresswoman Jan Schakowsky addressing over 500 Chicago area residents and local political leaders at the Health Care For America Now rally in Chicago. The rally called for quality, affordable health care for all in 2009.
  • Life Insurers Start to Get Approval for TARP Funds

    05/15/2009 3:08:31 AM PDT · by Son House · 5 replies · 740+ views
    FOXNEWS ^ | Friday, May 15, 2009 | FOXNEWS
    The Hartford Financial Services Group (HIG: 14.73, n.a., n.a.%) announced Thursday that it has been given preliminary approval to receive $3.4 billion from TARP’s Capital Purchase Program, while Lincoln National (LNC: 16.27, n.a., n.a.%) announced it is set to receive $2.5 billion. The Wall Street Journal reported on Thursday that Prudential Financial Group (PRU: 39.34, n.a., n.a.%) and Principal Financial Group (PFG: 18.85, n.a., n.a.%) had also been given clearance to receive TARP funds, citing a Treasury spokesman. The Journal said that Allstate (ALL: 25.18, n.a., n.a.%) and Ameriprise Financial (AMP: 25.02, n.a., n.a.%), two other insurance companies, would also...
  • Insurers get preliminary OK for Treasury funds

    05/14/2009 9:10:16 PM PDT · by Nachum · 4 replies · 416+ views ^ | 5/14/2009 | JENNIFER MALLOY ZONNAS
    LOS ANGELES — Six major insurers, including The Hartford Financial, Prudential Financial and Allstate, received preliminary approval Thursday for billions of dollars in aid from a U.S. bailout fund, following a months-long quest by some in the sector for financial assistance. The Hartford Financial Services Group Inc. was the first to disclose that it had been notified by the Treasury Department that it was eligible for $3.4 billion from the Troubled Asset Relief Program, or TARP.
  • 7 secrets of health insurers

    11/17/2008 10:35:04 AM PST · by Nachum · 8 replies · 1,270+ views ^ | 11-17-08 |
    Health insurance can seem impenetrable. For starters, have you tried reading your policy? It's dense. With different regulations in each state, countless varieties of policies and elusive pricing practices, health insurance can seem downright confounding. And wrapped up in all this are myths about health insurance that were perhaps once true -- or never were. Here's a look at seven things you probably didn't know about your health insurer.
  • Great Britain: Life insurers to impose 'fat tax' on the obese, costing up to 50 per cent more

    02/23/2008 7:39:57 AM PST · by Stoat · 21 replies · 469+ views
    The Daily Mail (U.K.) ^ | February 22, 2008 | BECKY BARROW
    Life insurers to impose 'fat tax' on the obese, costing up to 50 per cent moreBy BECKY BARROW - More by this author » Last updated at 22:37pm on 22nd February 2008  A "fat tax" is to be imposed on the obese by life insurance firms, it emerged last night.  Around 50 per cent extra could be charged on new premiums - and the threshold at which the higher rate starts will be lowered. The increased charge can be up to 400 per cent if you fall into other high risk categories, such as being a smoker or having...
  • Spitzer Warns Bond Insurers Governor Says Firms Have 3 to 5 Days To Raise Capital

    02/15/2008 4:33:37 AM PST · by Brilliant · 3 replies · 170+ views
    WSJ ^ | February 15, 2008 | KAREN RICHARDSON and DAMIAN PALETTA
    The clock is running out for bond insurers to save their triple-A credit ratings. In congressional testimony yesterday, New York Gov. Eliot Spitzer gave a three-to-five-day time frame for the bond insurers to raise much-needed capital or find other ways to resolve their problems. Mr. Spitzer urged banks, private-equity funds and investors that are working with bond insurers on various rescue and capitalization plans to "act with some increasing rapidity, because time is short," adding that a congressional move to resolve the issue would likely be too slow. Bond insurers -- relatively obscure companies that insure the principal and interest...
  • 'Give Genetic Test Secrets To Insurers'

    06/07/2007 7:06:50 PM PDT · by blam · 5 replies · 570+ views
    The Telegraph (UK) ^ | 6-8-2007 | Nicole Martin
    'Give genetic test secrets to insurers' By Nicole Martin Last Updated: 1:58am BST 08/06/2007 The results of genetic tests should be passed on to insurance companies to allow them to assess the health risks of potential customers, a professor of bioethics says today. Prof Soren Holm, from Cardiff University Law School, says that genetic information is no more "sensitive or private" than other information about a person's health, including cholesterol levels and body mass index, which insurers can use to help them to set premiums. His recommendation was immediately rejected by health charities. They said greater openness could lead to...
  • Medicare Rule Guarantees Continuity of Drugs

    04/27/2006 7:44:05 AM PDT · by Pop Fly · 8 replies · 249+ views
    New York Times ^ | 4/27/06 | ROBERT PEAR
    WASHINGTON, April 26 — The Bush administration issued a new policy on Wednesday that protects Medicare beneficiaries against the sudden loss of coverage for drugs they are taking under the prescription drug program. Under the policy, insurers can still change their lists of covered drugs, known as formularies. But if they drop any drugs or impose new restrictions, they must exempt beneficiaries who are now taking those drugs. Dr. Mark B. McClellan, administrator of the Centers for Medicare and Medicaid Services, summarized the policy this way: "In general, a plan cannot change your coverage for the drugs you are using...
  • Drugstores Fret as Insurers Demand Pills by Mail

    01/01/2005 3:38:06 PM PST · by neverdem · 18 replies · 856+ views
    NY Times ^ | January 1, 2005 | MILT FREUDENHEIM
    Employer health plans across the country are forcing millions of consumers to change their drug-buying habits. And one side effect could be the decline of the neighborhood drugstore. Instead of picking up their medicines at a local pharmacy, growing numbers of consumers will be required - starting this month when new health plans take effect - to buy dozens of widely used drugs, like insulin for diabetes or Lipitor to lower cholesterol, by mail order. Employers and the companies that manage prescription drug insurance coverage favor mail-order pharmacies because they can get lucrative rebates and deep discounts from drug makers...
  • Insurers Suffer Record Third-Quarter Catastrophe Losses

    11/02/2004 1:27:54 PM PST · by anniegetyourgun · 8 replies · 158+ views
    AP ^ | 11/2/04 | Madlen Read
    NEW YORK - The property insurance industry sustained record third-quarter losses this year after a series of storms, including a string of hurricanes, according to an actuarial firm's preliminary estimate. Eight catastrophes, including hurricanes Charley, Frances, Ivan and Jeanne, contributed to $21.3 billion in insured property loss claims, according to New Jersey-based ISO. That figure compares to $3.7 billion from last year's third quarter, $715 million in the third-quarter 2002 and $19.15 billion in the third-quarter 2001 - the previous record, which included $18.8 billion in insured property losses from the Sept. 11 terrorist attacks. For the first nine months...
  • As governor, Dean signed bill that aided offshore insurers

    12/19/2003 5:45:03 PM PST · by Tumbleweed_Connection · 2 replies · 97+ views
    Boston Globe ^ | 12/19/03 | Michael Kranish
    <p>As part of Howard Dean's effort to attract companies to set up so-called "captive" insurance businesses in Vermont, he signed legislation that enabled a Bermuda-based company to establish a Vermont branch, which industry analysts said at the time could provide a tax break for the parent firm.</p>
  • CA: Insurers get shock on workers' comp

    11/07/2003 9:31:14 AM PST · by NormsRevenge · 14 replies · 235+ views
    Sac Bee ^ | 11/7/03 | Gilbert Chan
    <p>SAN JOSE -- State Insurance Commissioner John Garamendi shocked insurers and business leaders Thursday by recommending workers' compensation insurance rates be slashed by an average of 14.9 percent, nearly triple the number proposed by a key advisory group.</p> <p>"The cost of workers' compensation insurance to every employer in the state of California should decline to the July 2002 level, eliminating the increases that have plagued business," Garamendi said.</p>
  • Insurers Sue Terror Groups for 9/11

    09/11/2003 2:38:28 PM PDT · by AntiGuv · 9 replies · 228+ views
    Associated Press ^ | September 11, 2003 | Larry Neumeister
    NEW YORK - Besieged by claims resulting from the Sept. 11 terrorist attacks, dozens of insurance companies filed lawsuits Wednesday seeking $300 billion in damages from terrorist groups and companies and countries accused of supporting terrorism. In the two lawsuits, filed in New York and Washington, D.C., the companies sought to recover money paid out, or set aside to be paid, as a result of the 2001 attack on the World Trade Center. The lawsuits maintain the companies are entitled to collect damages and recover claims under multiple federal laws. The defendants include the organizations al-Qaida, Egyptian Islamic Jihad and...
  • Workers' Comp Costs Are Forcing Businesses To Abandon California

    08/05/2003 7:36:19 AM PDT · by Isara · 41 replies · 714+ views
    INVESTOR'S BUSINESS DAILY ^ | Tuesday, August 5, 2003 | GLORIA LAU
    Mitchell Greif, 44, is a Southern California native who loves the Los Angeles beaches and the lifestyle the city has to offer.But fed up with skyrocketing costs at his plastic-bag making company, Coast Converters, he's packing up to go.This past December, Greif received notice of the huge premiums he'd have to pay for his employees' 2003 workers' compensation insurance.He doesn't own a big business with deep pockets. He employs just 150 workers, and in recent years rising workers' comp premiums have driven his profits down. In 2001, he paid $225,000. That rose to $330,000 in 2002. This year, he's paying...
  • Travel Insurers Will Not Pay Out For Treatment (SARS)

    04/25/2003 6:32:39 PM PDT · by blam · 179+ views
    The Telegraph (UK) ^ | 4-26-2003 | Tessa Thorniley/Backy Barrow
    Travel insurers will not pay out for treatment By Tessa Thorniley and Becky Barrow (Filed: 26/04/2003) Travel insurers gave warning yesterday that they would not meet the cost of treatment for policyholders who contracted Sars if travelling to China - including Hong Kong - or Toronto, Canada. Insurers, including Churchill, Direct Line, Thomas Cook and the Post Office subsidiary, said policy-holders who visited these areas would do so against the advice of the Foreign Office and claims would not be paid. Columbus Direct was no longer selling travel policies or offering any form of cover for people visiting China. The...

    01/30/2003 10:53:05 AM PST · by not a kook · 33 replies · 341+ views
    For the past 25 years, we have heard the steady drumbeat of doctors and insurers for "tort reform", that panacea for all that ills our healthcare system. We are told again and again about skyrocketing malpractice insurance rates, and how the greedy plaintiffs pay the greedy lawyers 40% of the recovery in order to soak the poor pitiful doctors.Before we go about killing the right of the people to have juries listen to and assess their real damages, and before we violate the ancient principle of separation of powers (all on behalf of profiteers in 2 industries), I'll posit the...