Kent Reporter: Howard Hanson Dam reservoir begins spring fill: Army Corps to monitor damaged abutment.
Seattle Times: National health insurance key to reshaping China's economy
Wall Street Journal: Health Reform Passes the Cost Test (partial story link)
Des Moines Register: State delays higher Wellmark rate
KJRH in Tulsa: Bill to seize uninsured vehicles advances
Philadelphia Inquirer: Would you buy insurance from her? Apparently. (Short profile of that ubiquitous pitchwoman for Progressive)
and lastly, from the Baltimore Sun: Wrestler's Rescue offering health insurance to pro wrestlers
Selasa, 09 Maret 2010
Kamis, 04 Maret 2010
COBRA subsidy extended through March
In a 78-19 vote, Congress voted to extend the unemployment benefits late Tuesday night and the president signed it into law. This is good news for many laid-off workers who've also lost their health insurance. If you're laid-off before March 31, you may qualify for a 65 percent premium subsidy to help you pay for your former employer's health plan. Here's more:
Who's eligible for the new COBRA subsidy? People laid-off from their job between Sept. 1, 2008-March 31, 2010 and who worked for an employer with 20 or more employees qualify for the temporary subsidy. The individual's family also qualifies if they were covered by the employer's plan.
Individuals earning more than $125,000 per year and married couples with annual incomes over $290,000 are not eligible for the subsidy.
Also, If an employer goes out of business or stops offering health insurance its employees are no longer eligible for COBRA or the subsidy.
How much is the subsidy and how do people enroll? People who qualify for the subsidy pay 35 percent of the total premium. The U.S. Government will reimburse the employer or insurer for the remaining 65 percent of the premium. Employers must notify former employees if they qualify for the COBRA subsidy.
How long does the subsidy last? The subsidy is good for 9 months.
What if I lost my job, but didn't select COBRA before? Can I still apply for the subsidy? Yes, employers must notify former employees who qualify for the subsidy and employees have 60 days to decide.
Where can I learn more about COBRA and the subsidy? Visit the U.S. Dept. of Labor's Employee Benefits Security Administration page FAQs For Employees About COBRA Continuation Health Coverage or call 1-866-444-3272. Or visit our special COBRA page
Who's eligible for the new COBRA subsidy? People laid-off from their job between Sept. 1, 2008-March 31, 2010 and who worked for an employer with 20 or more employees qualify for the temporary subsidy. The individual's family also qualifies if they were covered by the employer's plan.
Individuals earning more than $125,000 per year and married couples with annual incomes over $290,000 are not eligible for the subsidy.
Also, If an employer goes out of business or stops offering health insurance its employees are no longer eligible for COBRA or the subsidy.
How much is the subsidy and how do people enroll? People who qualify for the subsidy pay 35 percent of the total premium. The U.S. Government will reimburse the employer or insurer for the remaining 65 percent of the premium. Employers must notify former employees if they qualify for the COBRA subsidy.
How long does the subsidy last? The subsidy is good for 9 months.
What if I lost my job, but didn't select COBRA before? Can I still apply for the subsidy? Yes, employers must notify former employees who qualify for the subsidy and employees have 60 days to decide.
Where can I learn more about COBRA and the subsidy? Visit the U.S. Dept. of Labor's Employee Benefits Security Administration page FAQs For Employees About COBRA Continuation Health Coverage or call 1-866-444-3272. Or visit our special COBRA page
How healthy is your county?
A new report, released by the University of Wisconsin's Population Health Institute and the Robert Wood Johnson Foundation, ranks the overall health of each county in each of the 50 states. Key factors in the ranking are how healthy people are and how long they live.
They also look at health impacts such as: smoking, obesity, binge drinking, access to primary care providers, rates of high school graduation, rates of violent crime, air pollution levels, liquor store density, unemployment rates and number of children living in poverty.
So now, what you really want to know: healthiest county? San Juan County. The least healthy? Ferry County. See the full results.
They also look at health impacts such as: smoking, obesity, binge drinking, access to primary care providers, rates of high school graduation, rates of violent crime, air pollution levels, liquor store density, unemployment rates and number of children living in poverty.
So now, what you really want to know: healthiest county? San Juan County. The least healthy? Ferry County. See the full results.
Selasa, 02 Maret 2010
WA state lawmakers approve flood insurance legislation for Green River Valley
The Washington state Senate today approved House Bill 2560, which would allow the insurance commissioner to create a market assistance plan and, if necessary, a "joint underwriting association" if the flood insurance market in Washington's Green River Valley collapses.
Last fall, the Army Corps of Engineers said that a weakened abutment to the Howard Hanson Dam meant that the Corps might have to release substantially more water than usual through the dam for the next few years. As a result, the risk of flooding in the valley below was for a time said by the Corps to be as high as 1 in 3. (Now, after significant work on the dam, the Corps says the risk has been reduced to 1 in 33.)
As a result, many businesses in the flood plain last fall reported major difficulties in finding flood coverage to insure above the National Flood Insurance Program's maximum: $500,000 for a commercial building and $500,000 for contents. Many businesses in the heavily industrialized area have more at risk than that, particularly if one factors in business-interruption losses.
In response, state insurance commissioner Mike Kreidler requested legislation giving him the authority to create a market assistance plan -- a sort of match-making service between people seeking insurance and those selling it -- and allowing for the creation of a Green River Valley JUA.
Insurers might be required to participate in the market assistance plan. If that doesn't ease the crisis, the next step would be a joint underwriting association. Known as JUAs, these serve as a publicly-organized insurer of last resort when an insurance market collapses. The insurance wouldn't be cheap -- the underwriting still has to be actuarially sound, with a $5 million maximum per policy -- but at least it would be available for businesses desperate to mitigate their risk. (The JUA insurers' liability is also capped at $250 million.)
The bill passed the House last month, and Sen. Jean Berkey led the floor action as the Senate passed it Tuesday, 28-17. (See video below.) It now goes to Gov. Chris Gregoire.
Last fall, the Army Corps of Engineers said that a weakened abutment to the Howard Hanson Dam meant that the Corps might have to release substantially more water than usual through the dam for the next few years. As a result, the risk of flooding in the valley below was for a time said by the Corps to be as high as 1 in 3. (Now, after significant work on the dam, the Corps says the risk has been reduced to 1 in 33.)
As a result, many businesses in the flood plain last fall reported major difficulties in finding flood coverage to insure above the National Flood Insurance Program's maximum: $500,000 for a commercial building and $500,000 for contents. Many businesses in the heavily industrialized area have more at risk than that, particularly if one factors in business-interruption losses.
In response, state insurance commissioner Mike Kreidler requested legislation giving him the authority to create a market assistance plan -- a sort of match-making service between people seeking insurance and those selling it -- and allowing for the creation of a Green River Valley JUA.
Insurers might be required to participate in the market assistance plan. If that doesn't ease the crisis, the next step would be a joint underwriting association. Known as JUAs, these serve as a publicly-organized insurer of last resort when an insurance market collapses. The insurance wouldn't be cheap -- the underwriting still has to be actuarially sound, with a $5 million maximum per policy -- but at least it would be available for businesses desperate to mitigate their risk. (The JUA insurers' liability is also capped at $250 million.)
The bill passed the House last month, and Sen. Jean Berkey led the floor action as the Senate passed it Tuesday, 28-17. (See video below.) It now goes to Gov. Chris Gregoire.
Vast difference between Haiti and Chile earthquakes in terms of insurance coverage
The Insurance Information Institute came out today with an interesting analysis of the differences in insurance coverage between Haiti and Chile, both of which has suffered major earthquakes in recent days.
According to the I.I.I.'s Robert Hartwig, Chilean building codes are also among the strictest in the world, largely due to a devastating quake there in 1960.
The numbers are startling, both in terms of lives lost (Haiti 200,000+, Chile 723 so far) and insurance coverage ($2.3 billion in premiums for coverage in Chile in 2008, versus $19 million in Haiti).
What about us? Well, the group also notes that earthquakes in the United States are not covered under standard homeowners or business insurance policies, and that even in California, the state believed to be most at risk of a catastrophic quake, only 12 percent of homeowners carry quake coverage.
The link above also includes a list of 10 largest earthquakes in Chile in recent history, as well as a list of the 10 most costly quakes in the world.
According to the I.I.I.'s Robert Hartwig, Chilean building codes are also among the strictest in the world, largely due to a devastating quake there in 1960.
The numbers are startling, both in terms of lives lost (Haiti 200,000+, Chile 723 so far) and insurance coverage ($2.3 billion in premiums for coverage in Chile in 2008, versus $19 million in Haiti).
What about us? Well, the group also notes that earthquakes in the United States are not covered under standard homeowners or business insurance policies, and that even in California, the state believed to be most at risk of a catastrophic quake, only 12 percent of homeowners carry quake coverage.
The link above also includes a list of 10 largest earthquakes in Chile in recent history, as well as a list of the 10 most costly quakes in the world.
If things look different...
Yup, we're trying out some new templates today.
Things will look pretty chaotic for the next hour or so, but it's the same blog, same content, same insurance commissioner's office, same contributors, etc.
Stay tuned...
Things will look pretty chaotic for the next hour or so, but it's the same blog, same content, same insurance commissioner's office, same contributors, etc.
Stay tuned...
Senin, 01 Maret 2010
Insurance news: Nat.'l flood program closes, rate disclosure in Ore. and claim denied for cow invasion
Lots of interesting insurance news today:
The National Underwriter covers how many federal programs -- including the National Flood Insurance Program -- are in limbo thanks to a failure of the Senate to vote on extensions. Unemployment benefits and COBRA benefits also are stalled until the Senate takes action, hopefully later this week.
In Oregon's Statesman Review: Despite pressure from health insurance companies, Oregon insurance regulators have decided that beginning April 1, every part of health insurance rate filings will be open to the public.
According to InsuranceRate.com, individuals aren't the only ones stinging from health insurance rate increases. Health insurance providers have shocked small businesses with increases that in certain cases surpass 75 percent.
And our favorite from today's news roundup: Watch out for the bovine exclusion. The Arkansa Democratic Gazette tells the story of a women who came home to not one, but two cows in her home. Sadly for her, her claim was denied. See full story and photos.
The National Underwriter covers how many federal programs -- including the National Flood Insurance Program -- are in limbo thanks to a failure of the Senate to vote on extensions. Unemployment benefits and COBRA benefits also are stalled until the Senate takes action, hopefully later this week.
In Oregon's Statesman Review: Despite pressure from health insurance companies, Oregon insurance regulators have decided that beginning April 1, every part of health insurance rate filings will be open to the public.
According to InsuranceRate.com, individuals aren't the only ones stinging from health insurance rate increases. Health insurance providers have shocked small businesses with increases that in certain cases surpass 75 percent.
And our favorite from today's news roundup: Watch out for the bovine exclusion. The Arkansa Democratic Gazette tells the story of a women who came home to not one, but two cows in her home. Sadly for her, her claim was denied. See full story and photos.
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