Blue Shield of California pledged today (June 7) to limit its annual net income to no more than 2% of revenue, a move the company said was “bold.”

Allstate Insurance Co. is urging New York lawmakers to find ways to combat the growing number of no-fault insurance frauds that trade groups say cost drivers more than $200 million last year.

California Insurance Commissioner Dave Jones, saying he was “pleased” that Blue Shield of California withdrew its recent rate increase, used the opportunity to again appeal for regulatory authority over health insurance rates in the state.

Blue Shield of California agreed to delay for 60 days its health insurance premium rate increases of up to 59%, originally scheduled to go into effect March 1.

Premiums and deductibles have risen “sharply” since 2003 and are outpacing workers’ payroll increases, although the new health reform law may “reverse” the rate increases, according to a new report.

The Washington, D.C.. council unanimously passed a bill imposing new limits on health insurance premium hikes for CareFirst BlueCross BlueShield, D.C.’s largest health insurer, as well as other health plans.

A Blue Cross Blue Shield affiliate in New Mexico filed court papers urged the state Supreme Court to block the insurance commissioner’s suspension of its 21% health premium rate increase.

The National Flood Insurance Program (NFIP) is a boondoggle that is costing Americans billions and billions of wasted dollars, is rife with fraud, and in some cases doing the opposite …  Read →