A bill to exempt health-care providers who have 90% or more of their claims approved from health-insurance companies' requirements for prior authorization of certain treatments has failed again. HB 317 was placed in House Banking and Insurance Committee and had two of its three required readings to be heard on the House floor, but it was never called up for a…
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The collapse of the Francis Scott Key Bridge in Maryland is a multi-layered tragedy: For the families and friends of those killed or presumed dead, it's a profound and personal loss. For businesses that rely on the Port of Baltimore, it's an economic nightmare. Morningstar DBRS estimates total insured losses for the Baltimore disaster could be $2 billion to $4…
This year's open enrollment through NevadaHealthLink.com was the second highest in the state's history, with 99,312 Nevadans enrolling in quality health insurance coverage from a pool of eight carriers offering plans throughout the state. As President Joe Biden said in his State of the Union, the ACA is "still a very big deal." It is unquestionably a core…
Gavin Newsom and state lawmakers are trying to find a way to fund Medi-Cal and other promised safety net programs while dealing with a projected deficit of $38 billion to $73 billion. One solution is increasing a managed care organization, or MCO, tax on health insurers to raise an additional $1.5 billion in federal dollars through 2026. California uses the tax…
Gavin Newsom and state lawmakers are trying to find a way to fund Medi-Cal and other promised safety net programs while dealing with a projected deficit of $38 billion to $73 billion. One solution is increasing a managed care organization, or MCO, tax on health insurers to raise an additional $1.5 billion in federal dollars through 2026. California uses the tax…
"Everyone's hurt by this market," said John Wells, government affairs manager for Ohio Insurance Agents Association, Inc., a trade organization for independent insurance agents. In Ohio, premiums for auto insurance have gone up at a minimum of 20%, said Dan Scroggins, vice president of personal lines insurance at AAA. When combining increases in back-to-back…
Stephen Beal, 64, last year agreed to plead guilty to wire fraud, Social Security fraud and concealment of bankruptcy assets, with Beal admitting to filing for bankruptcy despite having received a large payout from his late wife "s estate a year earlier. During proceedings in this bankruptcy case, however, Beal had concealed from the court that he had collected…
Here in Florida, property insurance must go beyond a standard Homeowners policy. Over the past few years, Florida property owners have been hit with significantly increased premium costs and even non-renewals from their insurance companies, leaving them scrambling to find coverage. Due to higher property insurance costs, many Florida house and condominium…
Former insurance commissioner Dave Jones has a sobering view on the future of homeowner coverage in California: He believes the state is“ marching steadily towards an uninsurable future.”. Rex Frazier, president of the Personal Insurance Federation of California, argued that more stability will come if the Department of Insurance pushes forward on…
Pacific Advisors proudly announces the appointment of Diana Wong as Managing Director in the Bay Area. At New York Life, Diana quickly rose to prominence through her unwavering dedication, achieving the prestigious Council Agent status within her first year and consistently earning recognition as a qualifying member of the Million Dollar Round Table.
According to investment research site YCharts, the U.S. personal savings rate for January 2024 was 3.8% versus 19.3% in January 2021, a 15.5% drop in just three years. Here are some interesting stats on the state of the U.S. economy:. In other words, more than three-quarters of Americans struggle to save or invest after paying for their monthly expenses Similarly, a…
The office of the U.S. Attorney for the Southern District of Indiana issued the following news release:. Christopher Turean, 43, of Fishers, has been sentenced to four years in federal prison after pleading guilty to wire fraud and filing a false tax return. On July 16, 2019, Turean created a company called " SCNT LLC" and opened a bank account that he alone controlled.
NEW YORK– Wall Street set more records Thursday as U.S. stocks coasted to the close of their latest winning month and quarter. It's leaped as the U.S. economy has remained remarkably solid despite high interest rates meant to get inflation under control. And with inflation hopefully still cooling from its peak, the Federal Reserve has indicated it will likely cut…
–Securities fraud in environmental, social and governance policies is being committed in Mississippi by investment giant BlackRock, says the state in a cease and desist letter. Mississippi Secretary of State Michael Watson, with jurisdiction over securities, gave the company 30 days to respond to his office's Wednesday letter. "You've got a company with…
That's how long crypto wunderkind Sam Bankman-Fried was sentenced to prison on Thursday after being convicted of seven counts of fraud over the collapse of a crypto exchange that was once seen as a key players in the world of finance. The sentence was delivered by Judge Lewis Kaplan in a Manhattan courtroom, who cautioned that Bankman-Fried "will be in a…
Leading benefits and HR consulting firm Segal released its 2024 State Employee Health Benefit Study today, alongside an interactive map revealing state-by-state comparisons of health benefit plans. Of the 33 states that offer HDHPs, 23 contribute to a health savings account, at an average employer contribution amount of $531 annually in 2023. While…
The National Association of Benefits and Insurance Professionals issued the following statement on March 28, 2024:. The National Association of Benefits and Insurance Professionals CEO Jessica Brooks-Woods issued the following statement today on the new Short-Term, Limited- Duration Insurance rule:. "The final rule closely mirrors the proposals put…
The AIDS Institute issued the following statement on March 28, 2024, with 34 organizations:. On behalf of patients with serious and chronic health concerns, our 35 groups welcome and celebrate the Biden Administration's new rule that will better protect patients from short-term, limited-duration health plans, a risky form of low-quality health coverage.
We all hope to remain healthy and independent throughout our lives— but life can be unpredictable. You may never need any of these kinds of care, but the odds aren’ t necessarily in your favor: Someone turning age 65 today has almost a 70 percent chance of needing some type of long-term care services and support in their remaining years, according to the U.S….
