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Biden Plugs ‘A New Health Insurance Option,’ Expanded Medicaid/Medicare

October 14, 2020

Democratic presidential candidate Joe Biden speaks at a drive-in rally in Miramar, Florida on October 13, 2020. (Photo by JIM WATSON/AFP via Getty Images)

(CNSNews.com) – Democrat Joe Biden and his fellow Democrats rail against President Trump and Republicans for wanting to get rid of the Affordable Care Act, with its high premiums and co-pays and limited options for millions of Americans.

But even Biden isn’t satisfied with the law as it now stands.

At a campaign stop in Miramar, Florida on Tuesday, Biden urged a larger role for government in Americans’ health insurance coverage, including bigger subsidies and expanded Medicaid/Medicare:

“Together, we’ll build on the Affordable Care Act by adding–by adding a new health insurance option, a not-for-profit option, to give private insurers a real competitor,” Biden said.

“We’ll increase (government) subsidies so premiums are lower cost to get more coverage, lower deductibles, lower out-of-pocket expenses.

“And by the

Will individuals see the savings from insurance pandemic relief? Not quite

October 14, 2020

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Health insurance companies are offering their corporate customers rebates to offset premium costs and reflect lower medical spending as patients avoid doctors’ offices, routine procedures and elective surgeries during the coronavirus pandemic.

a person sitting at a desk: ACA Health Experts call center expert, Cynthia Hernandez helps Tiffany Wright get health insurance at the Ahmed and Roshan Virani Children's Clinic, Monday,Nov. 14, 2016 in Houston. It’s likely that 2021 health insurance premiums will remain around the same prices as 2020, experts said.

© Karen Warren, Staff Photographer / Houston Chronicle

ACA Health Experts call center expert, Cynthia Hernandez helps Tiffany Wright get health insurance at the Ahmed and Roshan Virani Children’s Clinic, Monday,Nov. 14, 2016 in Houston. It’s likely that 2021 health insurance premiums will remain around the same prices as 2020, experts said.

It’s unclear how big an impact the rebates, in the form of credits, might have on the premiums companies pay and contributions their employees make. Premiums vary from company to company and, depending on the circumstances, the rebates could lower premiums, keep them from rising or at least limit increases.

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Companies, meanwhile, will decide whether to adjust employee contributions to health insurance premiums based

Surprising things renters insurance covers

October 14, 2020

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Insurance is designed to offer peace of mind, but there’s a reason your policy has all that fine print: You might not have the coverage you expect. Like any other insurance policy, renters insurance has exclusions, and knowing about them ahead of time can help you avoid unexpected bills in a disaster.

Just as important, though, is knowing what IS covered. All that fine print in your policy likely includes coverage you might not expect, which could save you money down the line.

COVERED: BELONGINGS OUTSIDE YOUR HOME

Most renters know insurance covers personal belongings within their home but may not realize their things are probably covered off-premises too, including when traveling. Barbara Madvin, an insurance agent at Gaspar Insurance Services, says vehicle break-ins are some of the most common insurance claims she sees for renters. While damage to the car itself is generally covered by your auto policy, your

Australia must prepare now for climate-related disasters or pay more later, insurance regulator says

October 14, 2020

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Australia’s banking and insurance regulator has estimated the country should be spending about $3.5bn a year to limit damage from climate-related natural disasters, warning the cost of responding to them after the fact is likely to be 11 times greater.

a close up of an old building: Photograph: James Gourley/AAP

© Provided by The Guardian
Photograph: James Gourley/AAP

In a speech on Wednesday, Geoff Summerhayes, an executive board member of the Australian Prudential Regulation Authority, said the cost of pre-emptive action to avoid the impact of disasters exacerbated by the climate crisis was far cheaper than dealing with the aftermath.

Addressing the issue of rising insurance premiums in northern Australia due to an increasing number of claims caused by storms and cyclones, Summerhayes said Apra was concerned general insurance could become unaffordable or unavailable in parts of the country.

He said it heightened the need to both cut greenhouse gas emissions and increase community resilience to extreme climate events, such

Dealing with denial of cashless settlement and huge deductions in health insurance claims

October 14, 2020

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© Venkatasubramanian K
COVID-19 treatment: Dealing with denial of cashless settlement and huge deductions in health insurance claims

In the past few months, we’ve heard several stories of people with health insurance policies facing claim rejections, not getting cashless treatments, or having to pay hospital bills out of pocket for COVID-19 hospitalizations. There could be many reasons that insurers give for rejecting claims. Some situations are avoidable. You must ensure that a COVID diagnosis or treatment does not burn a hole into your hard-earned savings.

This article discusses some such key issues, along with actions you could take to avoid or reduce the financial burden of an already taxing health situation.

Claims declined for mild symptom cases: Health Insurance policies cover hospitalization treatments that are considered ‘necessary’ – where there is active treatment carried out in a hospital, under any local or international medical protocol. The claim could be declined

Shift Completes Merger with Insurance Acquisition Corp. on its Path to Public Listing, … | Money

October 14, 2020

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Caution Regarding Forward Looking Statements

This document includes “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “forecast,” “intend,” “seek,” “target,” “anticipate,” “believe,” “expect,” “estimate,” “plan,” “outlook,” and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Such forward looking statements include estimated financial information. Such forward looking statements with respect to revenues, earnings, performance, strategies, prospects and other aspects of Shift’s business are based on current expectations that are subject to risks and uncertainties. A number of factors could cause actual results or outcomes to differ materially from those indicated by such forward looking statements. These factors include, but are not limited to: (1) the risk that the business combination disrupts Shift’s

Shift Completes Merger with Insurance Acquisition Corp. on its Path to …

October 14, 2020

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SAN FRANCISCO, Oct. 14, 2020 (GLOBE NEWSWIRE) — In a release issued under the same headline earlier today by Insurance Acquisition Corp. (NASDAQ: INSU) and Shift, please note that dates included in the press release were incorrect. Shift will begin trading on NASDAQ under the ticker symbol “SFT” and its senior management will host an investor conference call on October 15, 2020, not October 14, 2020, as previously stated. The corrected release follows.

Shift Completes Merger with Insurance Acquisition Corp. on its Path to Public Listing, Transaction Delivers $340 Million to Support Growth and Working Capital

Shift will begin trading on NASDAQ under ticker SFT on October 15, 2020

Shift’s senior management to host investor conference call on October 15, 2020 at 8:00am EDT

Shift, a leading end-to-end ecommerce platform for buying and selling used cars, and Insurance Acquisition Corp. (Nasdaq: INSU), a publicly traded special purpose acquisition company sponsored

IRDAI says Covid health insurance policy to be ported and migrated

October 14, 2020

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Want to migrate your existing coronavirus policy to a different insurer? The IRDAI has officially announced that policy holders can renew, migrate and even port their existing Covid-19 health insurance policy.

Currently the three popular variants of Coronavirus health insurance includes Corona Kavach, Corona Rakshak and Group Corona Kavach Policy.

The IRDAI asked insurers to give policyholders the choice to renew, migrate and allow porting of the above policies.

Accordingly, the three new rules that policyholders should be aware of are:

1. Renewal of policies allowed for three and half months, six and half months or nine and half months as per policyholder’s choice.

2. Porting or migration or continuation will not have any waiting period. Existing waiting period is 15 days for such policies. Waiting period will be applicable only if policyholder alters the sum insured during time of renewal. Applicable onlly for increase in sum insured and not

Accenture’s Life Insurance Platform Recognized in New Report from Gartner

October 14, 2020

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NEW YORK–(BUSINESS WIRE)–Accenture (NYSE: ACN) today announced that Gartner, Inc. has given the Accenture Life Insurance & Annuity Platform (ALIP) the highest score in its Individual/New Business Onboarding/Straight-through Processing Use Case in a new report, titled “Critical Capabilities for Life Insurance Policy Administration Systems, North America.” ALIP also received high scores in the Digital User Support Use Case.

“The COVID-19 pandemic makes it clear that the insurance industry must adopt digital strategies and flexible technologies to quickly respond to changing conditions, particularly as demand for digital services soars,” said Shay Alon, who leads Accenture’s Life and Annuity Products and Platforms business. “New health risks and long-term changes in customer behavior will make automated underwriting, cloud platforms and technologies that bring life, health and wellness together even more pertinent. We believe our score from Gartner reflects our forward-thinking digital strategy for insurers, as they help customers with straight-forward processes

United Kingdom Income Protection Insurance Market 2020: Providers Face the Prospects of Increased Claims as a Result of COVID-19

October 14, 2020

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DUBLIN, Oct. 13, 2020 /PRNewswire/ — The “Income Protection – United Kingdom (UK) Protection Insurance 2020″ report has been added to ResearchAndMarkets.com’s offering.

The report provides an in-depth assessment of the income protection market, looking at current and historical market sizes with regards to changes in contracts and premiums. It examines how income protection products are distributed and highlights key changes in the competitive landscape, as well as the proposition of the key market players. It provides five-year forecasts of contracts and premiums to 2024 and discusses how the market, distribution, and products offered are likely to change in the future, as well as the reasons for these changes.

The UK’s income protection market has grown strongly in recent years. Of the main protection products, income protection was the only product to register double-digit growth in premiums in 2019. Advised sales remain far more common than non-advised sales. However,

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Category: insurance

Biden Plugs ‘A New Health Insurance Option,’ Expanded Medicaid/Medicare

Will individuals see the savings from insurance pandemic relief? Not quite

Surprising things renters insurance covers

Australia must prepare now for climate-related disasters or pay more later, insurance regulator says

Dealing with denial of cashless settlement and huge deductions in health insurance claims

Shift Completes Merger with Insurance Acquisition Corp. on its Path to Public Listing, … | Money

Shift Completes Merger with Insurance Acquisition Corp. on its Path to …

IRDAI says Covid health insurance policy to be ported and migrated

Accenture’s Life Insurance Platform Recognized in New Report from Gartner

United Kingdom Income Protection Insurance Market 2020: Providers Face the Prospects of Increased Claims as a Result of COVID-19