February 14th, 2010
admin
With Congress sitting on their asses and failing to get a Health care plan worked out because the Democratic lost their majority, individual who buy their own health insurance are facing a huge rate increase in at least four states.
Blue Cross has announced or has notified some of its 800,000 individual policyholders in California that it plans to raise their rates by up to 39 percent on March 1, 2010.
Blue Cross has also elected to raise the rates of their consumers in Maine up to 32 percent.
Individuals in Kansas and Oregon will also face rate increases in varying amounts.
Premiums are far more volatile for individual policies than for those bought by employers and other large groups, which have bargaining clout and a sizable pool of people among which to spread risk. As more people have lost jobs, many who are healthy have decided to go without health insurance or get a bare-bones, high-deductible policy, reducing the amount of premiums insurers receive.
Its fucking crazy what these insurance companies are allowed to do especially in such hard economic times. Who these days can afford to survive much less pay for their insurance policy.
The US Supreme Court recent ruling on campaign spending could have long time effects. If you haven’t heard, the overturn a 63 year old law limiting political spending by labor and big business on the grounds of free speech.
The ruling paves the way for corporations, labor unions, and religious groups to give money to sway votes to push their agenda.
The ruling covers the money corporations and unions may spend from their own profits on independent ads and other advocacy efforts on behalf of candidates or issues. It does not change restrictions on direct contributions to candidates for federal office, which remain prohibited under federal law, but are allowed in New Jersey state races.
The decision essentially means that if a corporation wanted to spend millions of dollars of its own money on its own issues ads in support of a candidate, it may do so. The ruling does not change spending rules covering the thousands of political action committees by corporations and special interest groups.
Now Congress will have to decide how they want to react to the high court’s ruling.
An apartment manager plead guilty to making false statement to the government about the income of Section 8 tenants in exchange for sexual favors, in Kansas. The former apartment manager made false statement about tenant income and household composition of HUD tenants. The results caused HUD to overpay tenant rent subsisideis by approximately $34K.
Court documents also show the defendant improperly moved applications on the Section 8 waiting list ahead of other applicants in exchange for sexual favors. That caused HUD to overpay more rent subsidies by more than $104,000.
He is also accused of using his work computer to create 15 false letters, and forged signatures on those letters for tenant files to support the false income information provided. He now faces up to five years in prison without parole and a fine of up to $250,000.
It is being reported that the Tiger Wood incident is causing a ripple effect in the Insurance industries. Large corporate sponsor are seeking insurance protection in the effect that their top spoke person fulls a “Tiger Wood”.
It was originally thought that Tiger Woods was the perfect spokesmen. Now with everything that has happened, companies are running for protection. The thought process is that if something like this can happen to Tiger Woods than no one is safe.
This run for cover drive is driving new avenues of revenue to the insurance company as they create new policy to protect companies against these types of incidents.