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Apr28
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If you live in California you may be forced to purchase health insurance whether you want to or not. Following the example set by the watershed Massachusetts health insurance reform bill on April 16 an assembly committee this past Tuesday approved a bill “that would mandate Californians buy health insurance coverage.”
In Massachusetts citizens have until July 1, 2007 to purchase health insurance or they will lose “their state tax refund equal to 50 percent of an affordable health insurance premium.” Those people who fall into certain income brackets will receive financial assistance to pay for their health insurance premiums. The example being set in Massachusetts is truly incredible and very forward thinking.
I can only imagine the battle that would take place in California if this assembly bill was passed into law. The amount of uninsured in California as of 2003 is 6.5 million people or 20.7% of the total population according to a study on chcf.org. That is a staggering number of people facing each day without health insurance coverage. If a plan for subsidizing low-income individuals could be put together without taking money away from other equally important programs then a plan similar to Massachusetts could be a saving grace.
What are your thoughts on mandatory health insurance in your state?
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Apr27
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I recently read an article about increased bank insurance revenues of $7 billion between 2004 and 2005. When you consider that we are talking about banks an increase of a few billion dollars is significant but not too big of...
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A study by William M. Wilt of Morgan Stanley property-casualty insurance posits the theory that the auto insurance giant Geico “is the number-one competitive threat in the auto insurance industry.” This theory is based not just on the cute little...
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Apr26
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There is a letter being passed around in Washington seeking enough signatures to extend the May 15 enrollment deadline for Medicare Part D. Much dissent has been voiced about how confusing Part D can be for consumers to understand. Because...
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Apr25
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A study conducted by GE Insurance Solutions found Oregon to have the strictest enforcement of new fee disclosure rules. These disclosure rules were created because of the “brokers involved in bid-rigging with insurers in exchange for hidden fees and commissions.” ...
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There is no definitive answer to what is the purpose of life insurance. There are many purposes a life insurance policy serves. Life insurance provides a sum of money to the designated beneficiary or beneficiaries when the insured dies. That...
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Wal-Mart Stores Inc. announced this past week they will begin offering health insurance to more part-time employees because of relaxed eligibility requirements. I'm sure you are aware this has been an ongoing debate for some time now. Should the largest...
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I recently read an article on www.nationalunderwriter.com about baby boomers. I was floored while reading comments such as" they don't have enough money to pay for financial advice let alone for financial products and investments." or "I've interviewed advisors who...
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Before becoming a part of the insurance industry I knew little about the industry or the many different types of insurance. I was also not seeking out a career in insurance or the financial world. However, when the industry was...
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The past few weeks California was ankle high in rain up and down the coast. Northern California was especially soggy with Sacramento most susceptible to flooding because of the potential levee breaches along the Sacramento Delta. You can listen to...
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All 50 states in this country have their own separate insurance department in order to make life so much easier for consumers. In some respects a national centralized insurance department could be a bureaucratic headache for everyone. Regardless each state...
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