The department of Health and Human Services has put together an easy-to-read timeline re: what happens when under the federal health care reform law.
Small business health insurance tax credits, for example, started taking effect Jan. 1. The first $250 checks to 4 million senior citizens hitting the gap in Medicare prescription drug coverage were mailed in June.
The big stuff still lies ahead. A major round of provisions start taking effect Sept. 23rd: young adults can stay on their parents' health plan until age 26, there will be no pre-existing condition waiting period for children, insurers can't cancel a policy except in the case of fraud, no lifetime caps on benefits, and there will be no copays, etc. for preventive care. (In general. There are a variety of exceptions and exemptions for grandfathered plans and other factors.)
Tuesday, August 31, 2010
Monday, August 30, 2010
How to find flood insurance in WA's Green River Valley
About this time last year, some businesses in Washington state's Green River Valley started discovering that it was extremely difficult to get -- or afford -- flood coverage. The reason was no mystery: The Army Corps of Engineers, citing a weakened abutment to the nearby Howard Hanson Dam, pegged the risk of serious flooding at 1 in 3.
A year later, the Corps and contractors have done extensive work, and the risk is now believed to be about 1 in 60. (The normal risk is about 1 in 140.) As the Corps noted in a recent PowerPoint, the La Nina weather pattern can also bring back-to-back rainstorms, could require the Corps to rapidly draw down the pool of water behind the dam.
We're still urging homeowners in the area to strongly consider flood coverage from the National Flood Insurance Program. And although August may seem like an odd time to be thinking about flooding, the federal coverage doesn't take effect until 30 days after a policy's issued.
For businesses in particular, the federal coverage -- which is limited to $500k for the building and $500k for contents -- may not be enough. So our office launched a "Washington Flood Market Assistance Plan," which is a sort of matchmaking service connecting businesses needing coverage with insurers selling it.
More than two dozen insurance companies are participating, and the program's run by the Surplus Line Association of Washington, an industry association.
To learn more, please see our web page and FAQs on the program.
A year later, the Corps and contractors have done extensive work, and the risk is now believed to be about 1 in 60. (The normal risk is about 1 in 140.) As the Corps noted in a recent PowerPoint, the La Nina weather pattern can also bring back-to-back rainstorms, could require the Corps to rapidly draw down the pool of water behind the dam.
We're still urging homeowners in the area to strongly consider flood coverage from the National Flood Insurance Program. And although August may seem like an odd time to be thinking about flooding, the federal coverage doesn't take effect until 30 days after a policy's issued.
For businesses in particular, the federal coverage -- which is limited to $500k for the building and $500k for contents -- may not be enough. So our office launched a "Washington Flood Market Assistance Plan," which is a sort of matchmaking service connecting businesses needing coverage with insurers selling it.
More than two dozen insurance companies are participating, and the program's run by the Surplus Line Association of Washington, an industry association.
To learn more, please see our web page and FAQs on the program.
Friday, August 27, 2010
Getting health coverage for adult children
The number one health insurance problem we get calls about? People trying to find affordable coverage for their adult children. (We're the state insurance regulator in Washington.)
Starting soon -- and some major health insurers have already started to do this -- parents will generally be able to keep their kids covered up to age 26. In many cases, "soon" means next January 1, 2011. But depending on when your policy renews, it could be months later than that.
The New York Times recently did a story aiming to help parents struggling with this figure out what their options are, such as getting coverage through student health plans or buying an individual health insurance policy.
If you live in Washington state and need free help navigating this, give our consumer advocacy staff a call: 1-800-562-6900.
Starting soon -- and some major health insurers have already started to do this -- parents will generally be able to keep their kids covered up to age 26. In many cases, "soon" means next January 1, 2011. But depending on when your policy renews, it could be months later than that.
The New York Times recently did a story aiming to help parents struggling with this figure out what their options are, such as getting coverage through student health plans or buying an individual health insurance policy.
If you live in Washington state and need free help navigating this, give our consumer advocacy staff a call: 1-800-562-6900.
Thursday, August 26, 2010
Dogs and homeowners insurance: Dog bites accounted for $412 million in claims last year
Dog bites accounted for more than one third of all homeowners insurance liability claims paid out last year, according to a new report from the Insurance Information Institute.
Dog bite claims totalled $412 million in 2009, the group says, with an average claim of $24,840. The cost of dog-bite-related claims has risen nearly 30 percent from 2003-2009. The frequency of claims increased slightly, from 15,823 in 2008 to 16,586 a year later.
See the link above for more data, including national stats on dog bites, victim demographics, and the several kinds of liability that dog owners face.
A typical homeowners policy provides $100,000 to $300,000 in liability coverage. And one a dog has bitten someone, the company may boost your premiums, exclude the dog from coverage, or require behavior-modification classes before they'll cover the animal.
Dog bite claims totalled $412 million in 2009, the group says, with an average claim of $24,840. The cost of dog-bite-related claims has risen nearly 30 percent from 2003-2009. The frequency of claims increased slightly, from 15,823 in 2008 to 16,586 a year later.
See the link above for more data, including national stats on dog bites, victim demographics, and the several kinds of liability that dog owners face.
A typical homeowners policy provides $100,000 to $300,000 in liability coverage. And one a dog has bitten someone, the company may boost your premiums, exclude the dog from coverage, or require behavior-modification classes before they'll cover the animal.
Thursday, August 19, 2010
Job opening: Senior Policy Analyst
We're trying to fill a critical vacancy in our policy and legislative affairs division: A senior policy analyst with an expertise in property and casualty insurance. From the job announcement:
The closing date is Sept. 16, 2010 at 4:59 p.m. For more information -- salary, qualifications, how to apply, etc. -- click on the above link.
This position has lead responsibility for policy related research and analysis in support of the development of OIC legislative proposals and the OIC analysis of proposed legislation involving property and casualty insurance (and related) statutes. It assists the OIC legislative liaison and other OIC staff as requested, including completing bill analyses, fiscal notes, drafting comments or testimony, developing legislative proposals, and serving as the primary policy division resource on property and casualty insurance and markets. The position also serves as the Commissioner's delegate on boards, task force, work groups or other organizations as requested by the Commissioner.
The closing date is Sept. 16, 2010 at 4:59 p.m. For more information -- salary, qualifications, how to apply, etc. -- click on the above link.
Washington state's smoking rate drops to third lowest in America
The Washington state Department of Health says that new survey results show that the state's adult smoking rate is now third lowest in the nation: 14.8 percent.
Here's their press release.
To add our two cents' worth: Smoking can significantly drive up health (and life) insurance rates. For example, look at these rates for an individual plan with Premera Blue Cross. (And note that the older you get, the larger the difference between smoker- and non-smoker rates.)
Here's their press release.
To add our two cents' worth: Smoking can significantly drive up health (and life) insurance rates. For example, look at these rates for an individual plan with Premera Blue Cross. (And note that the older you get, the larger the difference between smoker- and non-smoker rates.)
July: 432 complaint files opened and $690,000 recovered for consumers
Our telephone hotline (1-800-562-6900) fielded nearly 12,000 calls last month.
We try to help people with insurance problems, and they bring us a wide range of issues: people unable to find affordable health coverage, people arguing with their insurers over denied or delayed claims, people looking for advise in dealing with storm damage, etc.
And if you call, rest assured that we won't try to sell you anything. We're the state insurance regulatory agency for Washington state. (Not in Washington? See here for contact info in your own state.)
Among the calls last month:
-We helped resolve a problem with an insurer -- the issue was whether the person's previous insurance qualified as "creditable coverage," meaning that pre-existing conditions would be covered -- resulting in the payment of $51,190 in claims.
-We helped a student get $900 for visits to her doctor's office. The claims had initially been denied under her student plan.
-We helped one person get a premium refund on a life insurance contract ($2,482) and another resolve delays in getting an annuity surrender request honored, resulting in a $254,448 payment to the consumer.
-And we helped a woman recoup a $261 life insurance premium that the company took from her father's bank account -- after his death.
That's just a sampling. There were many others: delayed auto insurance claims, trying to resolve disputed damage amounts for homeowner's claims, helping fix billing errors, etc.
Need help? Give us a call or e-mail us at AskMike@oic.wa.gov.
We try to help people with insurance problems, and they bring us a wide range of issues: people unable to find affordable health coverage, people arguing with their insurers over denied or delayed claims, people looking for advise in dealing with storm damage, etc.
And if you call, rest assured that we won't try to sell you anything. We're the state insurance regulatory agency for Washington state. (Not in Washington? See here for contact info in your own state.)
Among the calls last month:
-We helped resolve a problem with an insurer -- the issue was whether the person's previous insurance qualified as "creditable coverage," meaning that pre-existing conditions would be covered -- resulting in the payment of $51,190 in claims.
-We helped a student get $900 for visits to her doctor's office. The claims had initially been denied under her student plan.
-We helped one person get a premium refund on a life insurance contract ($2,482) and another resolve delays in getting an annuity surrender request honored, resulting in a $254,448 payment to the consumer.
-And we helped a woman recoup a $261 life insurance premium that the company took from her father's bank account -- after his death.
That's just a sampling. There were many others: delayed auto insurance claims, trying to resolve disputed damage amounts for homeowner's claims, helping fix billing errors, etc.
Need help? Give us a call or e-mail us at AskMike@oic.wa.gov.
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