Insurance Space

A House bill to reauthorize the National Flood Insurance Program through September 2015 falls far short of reform the program needs for financial solvency, experts and politicians testified during a congressional subcommittee hearing Thursday.

NFIP’s instability was the main reason cited by those who oppose U.S. Rep. Gene Taylor’s proposal to offer optional wind coverage. Taylor, D-Miss, was joined by Rep. Steve Scalise, R-La., in advocating wind coverage through NFIP. Both talked about the inherent conflict in having private insurance companies adjust their own wind claims, along with NFIP claims, after hurricanes.

For many Americans between the age group of 55-64, retiring has become synonymous with forsaking health insurance security. Not many employers grant health coverage for the retirees who retire at an early age. Majority of these retirees find it difficult to buy coverage in the individual market because they have preexisting conditions such as diabetes or high blood pressure or simply find it expensive.

LEARN ABOUT HEALTH INSURANCE REFORM!

The health reform, signed into law, contains some great ideas that will make health insurance quotes inexpensive and affordable. It will also expand the health coverage to all the Americans, stabilize family budgets, make health system sustainable and will stabilize the Federal budget as well as the economy.

Big, dominant insurance companies in Michigan and five other states continue to seek large rate hikes, a sign that the U.S. health insurance system is broken and needs reform, the nation’s health chief said today.

Citing a 56% rate hike that Blue Cross Blue Shield of Michigan sought last year for non-Medicare customers who buy their own insurance, Kathleen Sebelius, secretary of the U.S. Department of Health and Human Services said big increases sought “highlight the need to address comprehensive health reform.” She spoke in a media briefing from her Bethesda, Md.