Aetna withdrew a 19% rate increase in California after “substantial mathematical errors” were uncovered during the state’s review, state insurance regulators said.
Premium increases by health insurers across the nation are taking center stage to justify the need for health care reform, as a way to stuff the pocket of company executives and now, in Connecticut, the reason the state should elect its insurance commissioner.
A request by State Farm Fire and Casualty to increase homeowners insurance rates by an average of 19.1% was rejected by Louisiana’s insurance commissioner.
Citing increased costs in health care, Blue Cross of Northeastern Pennsylvania is seeking regulatory approval for $13.4 million in premium increases, affecting 56,000 of its members.
The Wilkes-Barre, Pa.-based insurer’s request … Read →
A Florida court has sided with state officials in their denial of rate increases for State Farm, which plans to discontinue its coverage of Florida policyholders.
Thousands of Independence Blue Cross customers could be paying more for their health care if a request by the insurer to raise rates for three individual PPO plans is approved.
As a direct result of the Patient Protection and Affordable Care Act (PPACA) – also known as ObamaCare – health insurance agent and broker commissions have been slashed by as much as 50%. Agencies have been forced to lay off employees, limit products and services, shift to other lines, and have seen significant drops in compensation.