Insurance

Health insurance premiums for Californians jump as much as 39%

California health care premiums skyrocket

Californians who get their individual health insurance from Anthem Blue Cross, the largest insurer for individuals who don't have access to group health insurance in California, got notice of increases in their premiums of as much as 39% on March 1. This is the second year in a row for many who faced an increase of 41% last year.

Anthem Blue Cross would not comment on the number of members it currently has, but last year when it raised its rates as much as 68% it reported it had 800,000 members. With those types of increases, one might speculate that Anthem Blue Cross wants to get out of the individual health insurance marketplace.

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Job loss mortgage insurance giving homebuyers security

Lita Epstein Feb 2nd 2010 @ 1:30PM EST Filed Under: Insurance, Real Estate, Mortgages

In these uncertain times potential homebuyers continue to sit on the sidelines because they are concerned that a job loss could kill their dreams to own a home.

Innovative job loss mortgage insurance is being offered through mortgage lenders, real estate agents, new-home builders and state and local housing agencies. In many cases this protection is being offered free to the homebuyer as part of their home purchase.

One real estate agent even put out a press release about the "Worry Free" Mortgage Protection."

"The ability to provide home buyers a viable solution to the uncertainty associated with purchasing a home eliminates one of the major obstacles preventing buyers from taking advantage of once in a lifetime purchasing opportunities," Lance Mohr, a Tampa broker, stated. "Interest rates remain near historic lows even as the cost of buying a new or existing home continue to drop; combined with federal tax incentives this is literally one of the best buying opportunities presented in decades. Unfortunately, the fear of job loss and economic uncertainty has prevented many would-be buyers from acting on their desire to purchase a home."

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Own a piece of 'Miracle on Hudson'

Jennifer Oldham Feb 2nd 2010 @ 9:00AM EST Filed Under: Insurance, Transportation, In the News

The sky's the limit for the amount of money a water-logged jetliner that an U.S. Airways pilot ditched in New York's Hudson River last year may bring at a recently announced auction.

Capt. Chesley (Sully) Sullenberger III flew into history books when he deftly landed his disabled aircraft in the waterway after its engines swallowed wayward geese.

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Auto insurance premiums tied to credit score

Gina Roberts-Grey Jan 29th 2010 @ 5:00PM EST Filed Under: Credit, Insurance, Credit Reports, Credit Cards, Insurance - Car Insurance

You might expect a plunging credit score to affect your ability to qualify for a car loan or how high the interest rate on your credit card will soar. But too often Americans don't realize a plunging credit score can cost them big bucks on insurance premiums.

One of the biggest mistakes insurers say people make is not realizing when their credit score is tanking.

"Credit scores factor heavily into your rate," says Ashley M. Hunter, a construction-risk insurance specialist who owns HM Risk Group in Austin, Texas. That's because in the eyes of your insurer, if you've missed a few payments to your credit card company or have written a lot of bad checks (that wound up in collection), chances are you'll do the same thing to them.

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Health care debate really about control

Lita Epstein Jan 26th 2010 @ 1:30PM EST Filed Under: Insurance, Health, Insurance - Health Insurance

When you think about whether or not you want the insurance companies or the government making decisions about the health care you receive, you probably quickly answer neither. But unfortunately, that's not an option unless you can afford to pay for all your health choices out of pocket without carrying a health care insurance policy.

Since we're looking at what could be the demise of the national health care package now being held up in Congress, we'll likely continue to be solely under the control of the insurance companies. Knowing that they're going to be in control, insurance companies are flexing their muscles and making it harder for you to get the care you need.

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When teens are stuck in the middle with no health insurance

Andy Miller Jan 22nd 2010 @ 12:00PM EST Filed Under: Insurance, Family Money, Health, Insurance - Health Insurance

Annie and Doug Schulte each have health insurance through their jobs. She works for a tiny nonprofit, and he is a truck driver.

But neither of their employers offers coverage for children. As a result, their son, A.J., 16, is uninsured. That's a constant worry for his parents. "You always have this fear he'll get into a car accident,'' says Annie, 36, of Foley, Mo.

The Schultes make too much money for A.J. to qualify for coverage through Medicaid or the state Children's Health Insurance Program (CHIP). And private insurance for their son is too expensive, with insurers setting a high sticker price because of his allergies and asthma.

A.J. is one of more than 7 million U.S. children who have no health insurance. The good news is that number has dropped to its lowest level in 20 years, Census figures show. The decrease comes largely from government programs Medicaid and CHIP picking up more children as private insurance erodes among parents.

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New law slashes HMO patients' wait time in California

Lita Epstein Jan 19th 2010 @ 6:00PM EST Filed Under: Insurance, Health, Insurance - Health Insurance

In 2002, voters of California passed a law mandating that HMOs, which serve nearly 21 million people in California, offer more timely access to medical care. Now the California Department of Managed Health Care finally is ready to implement those new rules, to be unveiled Wednesday at Cedars-Sinai Medical Center in Los Angeles, according to a story in today's Los Angeles Times. California says it is the first state to set time standards for HMOs.

What will these new rules mean? Patients who seek urgent care that doesn't require prior authorization must be seen within 48 hours. Otherwise, patients must get an appointment within 10 days for general treatment and an appointment within 15 days for specialist treatment. When I've been in HMOs in the past, I could usually get into my primary care physician within about a week, so that doesn't sound like a major change. But I've waited months to get to see a specialist.

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Chubby Checker promotes program helping seniors pay for prescriptions

Lita Epstein Jan 11th 2010 @ 1:00PM EST Filed Under: Insurance, Retire, Health, Insurance - Health Insurance

Social Security is using Chubby Checker to help promote an expanded "Extra Help" program for one million more seniors who need assistance to be able to afford their prescription drugs. Seniors who were rejected for Extra Help in the past should reapply to see if they meet the new requirements.

With Extra Help, seniors can pay as little as $1.10 for generics and $3 for brand name drugs. The Extra Help program also eliminates premiums and annual deductibles. Currently the Extra Help program provides assistance to more than nine million senior and disabled Americans -- saving them an average of almost $4,000 a year on their Medicare prescription drug plan costs. You can apply for Extra Help online at the Social Security Web site.

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Best ways to save money on insurance in 2010

Gina Roberts-Grey Jan 6th 2010 @ 2:00PM EST Filed Under: Budgets, Insurance, Saving Money

Whether it's for your boat, car, home or life, insurance is a necessary evil. But since its main job is to protect you in the event of a crisis, your insurance policies are probably facets of your budget you don't pay a lot of attention to or consider when you're trying to trim some financial fat.

Make this the year you save money on your insurance. These easy-to-implement tips will help you slash your premiums in 2010.

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