tag:blogger.com,1999:blog-145970382024-02-03T09:35:35.978-05:00Insurance Q&AInsurance Q&A- Insurance Experts Page: Have you ever wondered if you have all the information you need to make informed decisions on your insurance and/or benefits?
Well if you're not sure, this is a great place to start. Your questions about insurance, employee benefit plans and annuities will be answered by experts in the insurance and benefits fields.
To have your questions or comments addressed send them to lisygroup@yahoo.comUnknownnoreply@blogger.comBlogger79125tag:blogger.com,1999:blog-14597038.post-40781679691419396972018-11-25T00:30:00.001-05:002018-11-25T00:30:32.339-05:00<font face="Times" size="1" class=""><br class=""></font><div class=""><div style="caret-color: rgb(0, 0, 0); color: rgb(0, 0, 0); font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration: none;">What a surprise! <a href="http://floor.patentsiliconbeach.com" class="">http://floor.patentsiliconbeach.com</a></div><div style="caret-color: rgb(0, 0, 0); color: rgb(0, 0, 0); font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration: none;"></div><div style="caret-color: rgb(0, 0, 0); color: rgb(0, 0, 0); font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration: none;">I'm totally impressed!</div><div style="caret-color: rgb(0, 0, 0); color: rgb(0, 0, 0); font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration: none;"><br class=""></div><div style="caret-color: rgb(0, 0, 0); color: rgb(0, 0, 0); font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration: none;">Ron Lisy</div><div style="caret-color: rgb(0, 0, 0); color: rgb(0, 0, 0); font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration: none;" class=""><font face="Times" size="1" class=""><br class=""></font></div><font face="Times" size="1" class=""><br class="Apple-interchange-newline"> </font></div> <br class="">Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-14597038.post-83100032995353017282018-10-03T18:45:00.000-04:002018-10-03T19:03:00.397-04:00Re:<div class=WordSection1><p class=MsoNormal><span class=Heading1Char><span style='font-family:"Calibri",sans-serif;color:windowtext'><o:p> </o:p></span></span></p><p class=MsoNormal style='line-height:115%'><span class=MsoIntenseEmphasis><span style='color:windowtext'><a href="http://opportunity.lunte.net"> <span style='font-style:normal'>http://opportunity.lunte.net</span></a><o:p></o:p></span></span></p><p class=MsoNormal><span class=MsoIntenseEmphasis><sup><span style='color:black'><o:p> </o:p></span></sup></span></p><p class=MsoNormal><span style='color:black'>Ron Lisy<o:p></o:p></span></p><p class=MsoNormal><span class=MsoIntenseReference><o:p> </o:p></span></p></div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-14597038.post-9826478610220524762018-08-25T10:02:00.000-04:002018-08-25T10:03:58.240-04:00Re:<div class=WordSection1><p class=MsoNormal><a href="http://term.junkyardtampa.com">http://term.junkyardtampa.com</a><span style='font-family:"Times New Roman",serif;color:black'><o:p></o:p></span></p><p class=MsoNormal style='text-align:justify;text-justify:inter-ideograph'><span style='font-size:8.0pt;font-family:"Times New Roman",serif;color:black'><o:p> </o:p></span></p><p class=MsoNormal>Ron Lisy</p><p class=MsoNormal><o:p> </o:p></p></div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-14597038.post-37462897661239456152018-03-13T06:38:00.000-04:002018-03-13T06:46:18.073-04:00<div class=WordSection1><p class=MsoNormal style='line-height:115%'><em><span style='font-family:"Calibri",sans-serif'><o:p> </o:p></span></em></p><p class=MsoNormal><a href="http://release.therealjake.com">http://release.therealjake.com</a></p><p class=MsoNormal style='line-height:115%'><em><sup><span style='font-family:"Calibri",sans-serif'><o:p> </o:p></span></sup></em></p><p class=MsoNormal>Ron Lisy<o:p></o:p></p><p class=MsoNormal style='line-height:115%'><em><sup><span style='font-family:"Calibri",sans-serif'><o:p> </o:p></span></sup></em></p><p class=MsoNormal style='line-height:115%'><em><span style='font-family:"Calibri",sans-serif'><o:p> </o:p></span></em></p><p class=MsoNormal style='line-height:115%'><em><span style='font-family:"Calibri",sans-serif'><o:p> </o:p></span></em></p></div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-14597038.post-57405891654609387712016-01-31T20:45:00.000-05:002016-02-01T07:45:09.694-05:00re: <style type="text/css" scoped=""> blockquote, div.yahoo_quoted { margin-left: 0 !important; border-left:1px #715FFA solid !important; padding-left:1ex !important; background-color:white !important; } </style> <div><a href="http://wtullc.com/mind.php"><a href="http://wtullc.com/mind.php" target="_blank">http://wtullc.com/mind.php</a></a></div><div> </div><div>Ron Lisy<br><a href="https://yho.com/footer0">Sent from Yahoo Mail for iPhone</a><br> </div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-14597038.post-57322581315762694332009-11-03T11:10:00.003-05:002009-11-03T11:13:23.656-05:00Floodsmart from FEMA: Answers to Possible Questions Regarding the October 2009 Change<strong>Answers to Possible Questions Regarding the October 2009 Change</strong><br /><br />On October 1, 2009, important changes to the NFIP will take effect. There will be an increase in rates, the standard deductibles, and the basic insurance limits. These combined changes will result in an average premium increase of 8 percent . Many policyholders will have questions about these changes. To help you best serve your clients, we have developed a number of “answers to possible questions” to help your customers better understand how these changes will affect them.<br /><br />Q: Why are my premiums going up?<br />A: It is not uncommon for insurance companies to implement annual rate increases to help offset their increased costs, including inflation. The NFIP, like most insurance companies, has found it necessary to implement these important program changes to ensure that current premiums more accurately reflect the current risks.<br /><br />Q: Are the rates increasing to collect the premium dollars that were used to pay for claims as a result of Hurricane Katrina?<br />A: No. It is a misconception that rate increases happen to offset debts attributed to Hurricane Katrina or any past event. Actually, Federal regulations clearly state that the NFIP cannot raise rates to recoup for previous losses. Simply put, NFIP premiums only reflect expected future losses and expenses. There is no charge contained in the premium to recoup past losses.<br /><br />Q: Why is my deductible doubling?<br />A: The NFIP’s previous minimum deductibles were in place for more than 10 years. The NFIP found it necessary to discontinue the minimum deductible of $500 and increase the new standard deductibles to avoid overall larger premium increases.<br />It is important to remember, that in most cases the deductible is only a fraction of the average flood insurance claim, which can cost tens of thousands of dollars.<br /><br />Q: Why are the basic limits of coverage on the Standard Flood Insurance Policy (SFIP) for residential and non-residential buildings increasing?<br />A: The NFIP takes many steps to financially prepare for future flooding. In order to do so, the basic limit of coverage, the level which sustains the most damage in a flood, needs to be brought into better alignment with the typical NFIP paid claim. If you purchase flood insurance beyond the basic limit, you will receive more coverage at a lesser charge. And, to get full replacement cost for your primary residence in the event of a flood, you must insure your building to at least 80 percent of its replacement value (or $250,000, whichever is less).<br /><br /><a class="style15" href="http://www.nfipiservice.com/nfip_docs.html" target="_blank">Click here</a> for the new Flood Insurance Rate Manual that reflects these changes as well as additional information from the NFIP. Please email us at <a class="style15" href="mailto:info@femafloodsmart.com">info@femafloodsmart.com</a> with any questions.Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-14597038.post-24081037695059946012008-07-21T03:26:00.002-04:002008-07-21T03:31:07.824-04:00Umbrella Insurance Protects Your AssetsBy: <a href="http://www.keywordarticles.org/profile/Jim-Pretin/298">Jim Pretin</a><br /><br />At some point, you have probably heard of umbrella insurance, but have no idea what it is. Well, first off, it does not cover the umbrella you protect yourself from the rain. It is a figure of speech. An umbrella policy is designed to shield you from almost everything that your home and auto insurance does not, as well as fill in gaps in coverage when the limits of your regular policy are exhausted.<br /><br />Every day, there are personal lawsuits filed against ordinary citizens, with the reasons ranging from the frivolous to the justified. When and if this happens to you, you need to be prepared. More often than not, people are sued and have no extra protection to block the plaintiff from going after their personal assets in the lawsuit. To protect yourself from such a quandary, you need to have umbrella insurance.<br /><br />An umbrella is often referred to as excess liability. This excess liability coverage kicks in when the underlying limits on your home or auto policy have been exhausted, or if you are sued personally for something that neither your home nor your auto insurance covers. Depending on the company, you can purchase anywhere from 1 to 5 million dollars worth of excess coverage, sometimes as high as 10 million.<br /><br />The amount of coverage you select really depends on how much you are worth. If you have 5 million dollars worth of personal assets, you should get a 5 million dollar umbrella. It is not uncommon for someone to buy a 5 or 10 million dollar umbrella policy even if that number far exceeds their net worth, because the coverage is so cheap to buy.Most insurance companies will not offer you the coverage unless you have both your home and auto already insured with them. Also, the insurer will require that you maintain a certain level of liability on the home and auto policies in order to qualify for the excess policy. Usually, you must maintain at least $250,000 of bodily injury liability per person, $500,000 per accident, and $100,000 for property damage for your autos, and $500,000 of liability for your home.<br /><br />The coverage is cheap. It is possible to obtain 1 million dollars worth of excess liability for as little as $120 dollars. The more cars and homes you have, the higher the price for the insurance, but the cost is still low. In addition to your home and cars, liability associated with any other conveyances you may have, such as boats, motorcycles, and other recreational vehicles, may also qualify for coverage under the umbrella, depending on the insurance company.<br /><br />You are probably wondering when the umbrella would actually come into play. Here is an example: If you are involved in an auto accident where you crashed into a pedestrian who was walking on the sidewalk, resulting in medical expenses for that person that costed more than what your auto policy covered, the umbrella would be used. Or, if that pedestrian then decides to sue you for negligence and seeks punitive damages, your umbrella can be utilized to cover your legal expenses and to pay any judgements levied against you.<br /><br />It is also important to understand that the excess liability covers you for all sorts of things that have nothing to do with your cars or homes. Things such as personal injury protection are covered. This includes false arrest, false imprisonment, malicious prosecution, defamation, invasion of privacy, wrongful entry, or eviction.<br /><br />Also, some umbrella policies provide coverage for you if you are sued in connection with any charitable boards or organizations of which you are a member. You may have to contact your insurance company and pay an extra premium for this type of coverage.<br /><br />I hope this has helped illuminate to you the importance of having umbrella insurance. Without it, your personal assets are totally vulnerable in any lawsuit or legal action. Talk to your agent about it and ask how much it costs. Even though multi-million dollar lawsuits are not common, they can happen. So, an umbrella is probably worth it.<br /><br />-----------------------------------------------------------------------<br />For help with your Insurance needs visit <a href="http://www.lisyinsurance.com/">www.lisyinsurance.com</a>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-14597038.post-625265934391685662008-07-20T12:14:00.002-04:002008-07-20T12:19:57.526-04:00How Dental Plans Differ from Dental InsuranceBy: S. Geetha<br /><br /><br />It is unfortunate that people do not give the required attention to their teeth and dental care as they do for other kind of diseases and illnesses.<br /><br />In order to minimize the costs on dental treatments and to prevent dental diseases it is good to have a dental plan to take care of all such problems.<br /><br />Dental plans differ from the dental insurance by the type and feature. Almost all the dental plans take a membership fee which varies from one plan to another plan. Also, dental plans can be either offered to individuals or to the family on the whole.<br /><br />The family dental plans offer higher discounts than the individual dental plans.<br /><br />Before selecting the appropriate dental plan it is good to check the rates charged under different plans. Also the type of coverage provided to the dental services matters a lot while selecting the dental plans.<br /><br />Dental services covered under the dental plans:Normally most of the basic dental procedures like the regular dental check ups, treatments like the cleaning procedure, oral examination, teeth filling, fluoride treatment and teeth extraction are covered by dental plans.<br /><br />But, the dental plans do not cover major dental treatments like oral surgeries, restorative dental care, root canal treatments, dental implants, braces etc.<br /><br />Under such circumstances the dental plans allow the policy holder to get reimbursement for the amount spent on the basic dental treatment and the other expenses should be born by the patient himself.<br /><br />Certain dental plans may not allow selecting a dentist of the policy holder’s choice and the patient has to undergo dental care treatments from the dentist mentioned in the dental plan.<br /><br />Hence, the policy holder before selecting the dental plan should check for a dentist present in his area and also for any schedule is mentioned in the dental plan or not. Dental plans can be availed either monthly or annually.<br /><br />The annual dental plan is supposed to be more cost efficient than the monthly dental plan.<br /><br />Discount dental plans:Discount dental plan is considered to be an affordable option. This dental plan offers discounts on all dental care treatments ranging from 10 – 60 percentages. It also covers dental works like braces, bridges, dentures, root canal treatments etc. This is possible by showing the membership card to the dentist while taking the dental treatment of any kind.<br /><br />Reasons for choosing discount dental plans: The main reason for choosing discount dental plan is that, it is very cost effective. The premium to be paid towards the dental plan is very low in spite of the coverage being much better. The money paid up front is also very low.<br /><br />Discount dental plans can be availed for even pre existing dental diseased conditions and there is no exclusion. Discount dental plans help people when they are needed and for the purpose they avail it.<br /><br />There is no hassle of filling forms as the person has to present the discount card and avail discounts from the dentists. Even the dentists are happy about discount cards as their time and energy is saved. It also offers a large list of dentists to choose from. The very important aspect is that even cosmetic dentistry is covered under dental plans making them very lucrative.<br /><br />S. Geetha regularly writes informative articles on dentistry, tooth whitening procedures and dental insurance.<br /><br /><a href="http://www.lisyinsurance.com/">www.lisyinsurance.com</a>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-14597038.post-73497188179018759972008-06-26T19:44:00.002-04:002008-07-16T17:46:23.583-04:00Getting the right Life Insurance<span id="role_document" style="font-family:Arial;font-size:85%;color:#000000;"><div><h3 class="post-title entry-title"><span style="color:#000000;">Q: "</span><a href="http://insuranceqa.blogspot.com/2008/03/im-29-and-my-wife-and-i-just-had-baby-i.html"><span style="color:#000000;">I need life insurance. What's the best way to shop around?</span></a><span style="color:#000000;"> "</span></h3><div class="post-header-line-1"><span style="color:#000000;"></span></div><div class="post-body entry-content"><span style="color:#000000;">"I'm 29, and my wife and I just had a baby! I need life insurance. What's the best way to shop around? I've</span> seen many families that either had no life insurance or own the wrong type of life insurance."</div><div class="post-body entry-content"><br /><strong><span style="font-size:130%;">A:</span></strong> </div><div class="post-body entry-content"> </div><div class="post-body entry-content">It's great that you are taking a step to protect your family.</div><div class="post-body entry-content"> </div><div class="post-body entry-content">The first thing you need to do is understand the different types of life insurance out there. </div><div class="post-body entry-content"> </div><div class="post-body entry-content">There are two basic types of life insurance. </div><div class="post-body entry-content"> </div><div class="post-body entry-content">The first type is called <strong>"cash value life insurance."</strong> They go under the name as whole life, universal life, variable life, or a mixture of those words together. </div><div class="post-body entry-content">Cash value life insurance is a term insurance plus a savings attached to it. Whole life insurance is a level term to age 100, Universal life insurance is an increasing term insurance (that means the insurance goes up internally every year) to age 100, and Variable life is also a level term to age 100, but the death benefit may increase if there is growth in the cash value. If you see the word "Variable" it means that a portion of your premiums is invested and when you are investing, you must know that there is no guarantee that there will be growth.</div><div class="post-body entry-content"> </div><div class="post-body entry-content">All cash value life policies provides protection to age 100. </div><div class="post-body entry-content"> </div><div class="post-body entry-content">But the bad news is that they are generally expensive to the average consumer and most people who buy these types of life insurance are under-insured (meaning they don't have enough coverage).</div><div class="post-body entry-content"> </div><div class="post-body entry-content">Majority of cash value life policies have a low rate of return. They usually average around 3%. The highest I ever seen was 6%. The lowest I ever seen was 1%. If you ever wanted to take money out of the cash value, you will have to borrow it and pay a loan interest on it (usually around 8%). </div><div class="post-body entry-content"> </div><div class="post-body entry-content">In some life policies, the cash value is included in the death benefit, but you have to pay more premiums to get this feature.</div><div class="post-body entry-content"> </div><div class="post-body entry-content">The second type of life insurance is known as <strong>"term insurance."</strong> </div><div class="post-body entry-content"> </div><div class="post-body entry-content">Term insurance does not build cash value, therefore premiums are very low. You can buy lots of coverage for a low amount of premiums. </div><div class="post-body entry-content"> </div><div class="post-body entry-content">There are level term policies that are as short as 1 year (you want to avoid these) and as long as 35 years. Longer term is always better since it will give you enough time to build wealth for your future.</div><div class="post-body entry-content"> </div><div class="post-body entry-content">Right now, you probably have a mortgage to pay, you have a child to take care of, and you probably have some other personal debt such as credit cards. You probably don't have much saved right now, so the need for life insurance is very high. If you die tomorrow, not only would it be emotionally devastating, it will also be financially devastating. </div><div class="post-body entry-content"> </div><div class="post-body entry-content">Which will have a longer impact on the family, their emotional loss or financial devastation? </div><div class="post-body entry-content"> </div><div class="post-body entry-content">The financial devastation because without life insurance, your child may not be able to afford college, the family will have to move out to a cheaper place, and your personal debt may go toward your spouse. </div><div class="post-body entry-content"> </div><div class="post-body entry-content">In the later years, your kids grow up and maybe move out of the home, your mortgage gets paid off, and hopefully you don't have much personal debt. So the need for life insurance is very low. You are nearing retirement, so you better have lots of money saved.</div><div class="post-body entry-content"> </div><div class="post-body entry-content">Buying term now will provide the right amount of protection needed to protect your family's income. At the same time, you want to start investing toward your future. </div><div class="post-body entry-content"> </div></div></span>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-14597038.post-23739499979861970192007-09-07T19:36:00.001-04:002007-09-07T19:36:29.211-04:00Federal Appeals Court in New Orleans Hears Katrina Case<FONT id=role_document face=Arial color=#000000 size=2> <DIV> <H1> </H1> <P class=byline>By <A title="Contact this author" onclick="openWin( 'http://www.insurancejournal.com/feedback/?f=8&a=83283&author=556&code=author&url=/news/national/2007/09/07/83283.htm','feedback','width=320,height=385,menubar=0,toolbar=0,status=0,location=0,resizable=yes,scrollbars=auto');return false;" href="http://www.insurancejournal.com/feedback/?f=8&a=83283&author=556&code=author&url=/news/national/2007/09/07/83283.htm">Michael Kunzelman</A><BR>September 7, 2007 </P> <DIV class=articletools>insurance company invoked to deny Gulf Coast homeowners' claims after Hurricane Katrina is at the center of a case that was scheduled for a hearing Sept. 6 in a federal appeals court in New Orleans.</DIV> <P>State Farm Fire & Casualty Co. says its policies cover damage from hurricane-force winds, but not from rising water, and has refused to pay for any damage from Katrina's monster storm surge. </P> <P>The Bloomington, Ill.-based insurer also says damage from a combination of wind and rising water is excluded from coverage. Last year, however, a federal judge in Gulfport, Miss., ruled that this "anti-concurrent cause'' policy language is ambiguous and therefore can't be enforced. </P> <P>In the same ruling, Judge L.T. Senter Jr. refused to throw out a lawsuit filed by John and Claire Tuepker, State Farm policyholders whose home in Long Beach, Miss., was reduced to a concrete slab by the Aug. 29, 2005, storm. </P> <P>State Farm appealed Senter's ruling to the 5th U.S. Circuit Court of Appeals in New Orleans. A three-judge panel was scheduled to hear arguments Sept. 6 from attorneys on both sides of the case. </P> <P>In court papers, the Tuepkers' attorneys suggest that State Farm's policies are "craftily ambiguous'' and are "woven so as to not give away their true intent.'' </P> <P>"Indeed, since Katrina, it has become painfully obvious that, in anticipating the risk posed by a powerful hurricane, State Farm intended all along to exclude damage ostensibly caused by a combination of water and water, the one-two punch without which a meteorological event is something other than a 'hurricane,''' the couple's attorneys wrote. </P> <P>In a different case, however, the Mississippi Court of Appeals found that State Farm's anti-concurrent cause language is "clear'' and unambiguous, the company's attorneys say. </P> <P>"Courts in many other jurisdictions have likewise upheld the validity of this same language,'' State Farm attorneys wrote in court papers. </P> <P>The Tuepkers are among thousands of homeowners in Mississippi and Louisiana who have sued their insurers after the Aug. 29, 2005, storm. The couple is represented by attorney Richard "Dickie'' Scruggs, who helped negotiate a multibillion dollar settlement with tobacco companies in the mid-1990s. </P> <P>Last month, Scruggs appeared before a different three-judge panel of the 5th Circuit to challenge similar language in policies written by Nationwide Mutual Insurance Co. But the judges sided with Nationwide, ruling Aug. 30 that the Columbus, Ohio-based insurer's policy language isn't ambiguous. </P> <P>David Rossmiller, a Portland, Ore.-based lawyer who closely follows Katrina insurance litigation, said policyholders shouldn't expect a different result in the State Farm case even though its policy language is different from Nationwide's. </P> <P>"The handwriting is on the wall,'' he said. "It would be shocking to me if the result was substantially different.''</P> <DIV style="MARGIN: 1.2em 0px; WIDTH: 99%; FONT-STYLE: italic">Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed</DIV></DIV></FONT><BR><BR><BR><DIV><FONT style="color: black; font: normal 10pt ARIAL, SAN-SERIF;"><HR style="MARGIN-TOP: 10px">See what's new at <A title="http://www.aol.com?NCID=AOLCMP00300000001170" href="http://www.aol.com?NCID=AOLCMP00300000001170" target="_blank">AOL.com</A> and <A title="http://www.aol.com/mksplash.adp?NCID=AOLCMP00300000001169" href="http://www.aol.com/mksplash.adp?NCID=AOLCMP00300000001169" target="_blank">Make AOL Your Homepage</A>.</FONT></DIV>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-14597038.post-50242816547749035452007-09-07T19:35:00.001-04:002007-09-07T19:35:40.203-04:00Judge Throws Out All Federal Antitrust Charges Against Insurers, Brokers<FONT id=role_document face=Arial color=#000000 size=2> <DIV> <H1> </H1> <P class=byline>September 6, 2007 </P> <P>Finding the charges lack any factual support, a federal judge has dismissed a big antitrust conspiracy case that was lodged against large commercial insurance brokers and insurers back in 2004 when bid rigging and account steering probes were in full sway.</P> <P>In dismissing the antitrust complaint for the second time, Chief Judge Garrett E. Brown Jr. of the U.S. District Court for New Jersey said the plaintiffs had no proof that there was any sort of conspiracy among insurers and brokers to secretly allocate accounts, refrain from competing, or pay incentive bonuses on certain commercial accounts. </P> <P>The plaintiffs alleged that the defendants had engaged in both a global conspiracy and so-called "hub and spoke" conspiracies in which brokers acted as hubs to coordinate illegal distribution of commercial insurance accounts among insurers (the spokes). </P> <P>Defendants in the suit that have now been cleared of federal antitrust charges are some of the largest insurance companies and brokerages including American International Group, The Hartford, Fireman's, Liberty Mutual, American Re, Travelers, Chubb, Marsh, Willis, Aon and Hilb Rogal & Hobb.</P> <P>The case was a consolidation of suits from around the country brought under federal antitrust statutes. It developed in the wake of investigations by state attorneys general including New York's Eliot Spitzer over alleged bid rigging, account steering and improper contingent commission payments. </P> <P>These consolidated lawsuits took those charges to another level—claiming that they were part of a conspiracy among certain large insurers and insurance brokers and accusing the players of antitrust violations and racketeering.</P> <P>This week, Brown put the antitrust conspiracy charges to rest in granting the defendants' motions to dismiss. He had also agreed with defendants in April but gave plaintiffs one last chance to amend their complaint.</P> <P>But Brown found the amended complaint was even less convincing than the earlier one. In completely dismissing the conspiracy allegations, Brown wrote: </P> <P>"While this Court previously held that the conspiracy allegations were faulty because they failed to show some sort of recognizable allocation of the market (a way for the insurers to understand what they were actually agreeing to divide), it appears that the allegations as presently drafted suffer from a more serious defect. This hub and spoke conspiracy is devoid of a factual basis for this Court to infer that an agreement existed among the competitors - in this case, the Insurer Defendants. Plaintiffs want this Court to view the specific facts regarding the 'incumbency protection racket' through their lens - which colors each demand from a broker to an insurer as being part of an agreement to restrain competition that already exists. However, when stepping back and viewing these facts in the aggregate, there is nothing in this record to suggest that there was any sort of express agreement among the insurers. While it is not necessary for the agreement to be explicit, the facts are simply too tenuous to intimate an implied agreement - a rim to this hub and spoke conspiracy. The brokers demanded certain behavior of the insurers, but that does not constitute a horizontal agreement among insurers to collude."</P> <P>Brown found no evidence to support the charges of a global conspiracy among brokers to keep secret their contingent commissions and not tell clients about them. Plaintiffs had argued that the defendants' membership in the same trade group, the Council of Insurance Agents and Brokers, was proof. But for Brown, "membership in various trade groups and the sharing of information are insufficient to support an inference of actual concert of action."</P> <P>He wrote that since plaintiffs failed to prove that the insurer defendants colluded among themselves in the broker-centered conspiracies, "it is improbable that they colluded to further this global agreement as well."</P> <P>While this dismissal affects the antitrust complaint brought against the defendants, charges of violating federal racketeering laws are being judged separately and remain before the court.</P> <P>Some insurers and brokers have settled similar antitrust complaints with officials in New York, Connecticut and other states, although they have not admitted doing anything illegal. Among those that have settled are insurance broker Arthur J. Gallagher & Co. and Zurich American Insurance Co.</P></DIV></FONT><BR><BR><BR><DIV><FONT style="color: black; font: normal 10pt ARIAL, SAN-SERIF;"><HR style="MARGIN-TOP: 10px">See what's new at <A title="http://www.aol.com?NCID=AOLCMP00300000001170" href="http://www.aol.com?NCID=AOLCMP00300000001170" target="_blank">AOL.com</A> and <A title="http://www.aol.com/mksplash.adp?NCID=AOLCMP00300000001169" href="http://www.aol.com/mksplash.adp?NCID=AOLCMP00300000001169" target="_blank">Make AOL Your Homepage</A>.</FONT></DIV>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-14597038.post-15488841793083620152007-02-19T10:10:00.001-05:002007-02-19T10:10:14.175-05:00Mississippi Attorney General Wants to Compel Insurer to Stay in State<DIV><A href="http://www.fee.org/in_brief/default.asp?id=1116">http://www.fee.org/in_brief/default.asp?id=1116</A></DIV> <DIV> </DIV> <DIV> <P><I>February 19, 2007</I></P>"Mississippi Attorney General Jim Hood said Friday he will seek legislation aimed at blocking State Farm Insurance Cos. from refusing to write new homeowners and commercial policies in the hurricane-battered state. State Farm, Mississippi's largest homeowner insurer, said Wednesday it has had enough of the 'untenable' legal and political climate in the state and is suspending writing new homeowners and commercial policies. The company said the suspension would begin Friday and continue until the business climate in the state is more palatable." </DIV>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-14597038.post-25958876525948794292007-02-14T17:33:00.001-05:002007-02-14T17:33:09.319-05:00For Better or Worse...Travelers Launches Wedding Insurance<P class=byline>February 14, 2007 </P> <P>More than 3,000 weddings take place every day in the U.S., with the average cost now reaching $27,000 each. Recognizing that the "big day" comes with a mighty financial commitment, Travelers announced today the launch of the Wedding Protector Plan, an insurance policy covering weddings.</P> <P>"A wedding is a large investment both emotionally and financially," said Alan Tuvin, vice president of product management for Travelers. "There are a lot of moving parts to a wedding and things can go wrong. It is important to protect such a significant financial investment."</P> <P>The Wedding Protector Plan provides coverage, with no deductible, for a variety of unfortunate occurrences associated with a wedding event. For example, coverage is provided if a hurricane causes the necessary and unavoidable cancellation or postponement of the event. Other coverages include postponement for withdrawal of military leave, forfeited and lost deposits, extra expenses associated with special attire, transportation, photographs, and entertainment expenses.</P> <P>"A lot goes into planning your wedding within your budget," said Tuvin. "Travelers wants to ensure that your budget will not spiral out of control when the unexpected happens."</P> <P>The top wedding claims and problems typically include damage to wedding attire, mishaps with event photography, cancellation due to illness or bereavement, and no-shows by contracted vendors.</P> <P>Travelers created www.ProtectMyWedding.com, which offers a Risk Quiz to help consumers determine how much risk surrounds their wedding, plus examples of coverages provided. Consumers can then use the online agent locator to find a nearby Travelers independent agent to discuss purchasing protection. As long as the wedding is more than 14 days away, it's not too late. The Web site also offers an e-newsletter for newlyweds, which covers topics from lifestyle to money management tips, designed to help couples become in-synch with their lives as one.</P> <P>The Wedding Protector Plan can cover events in the United States, Puerto Rico, Canada, the United Kingdom, Mexico, Bermuda, Bahamas, Turks and Caicos, the Caribbean Islands (excluding Cuba and Haiti) and cruise ships leaving from a port within those territories (some restrictions apply).</P> <P>For more information on how to protect a wedding, contact a Travelers independent insurance agent or visit <A href="http://www.protectmywedding.com/">www.ProtectMyWedding.com</A>.</P> <P>Travelers is a business of The St. Paul Travelers Cos., Inc., a property casualty insurer selling primarily through independent agents and brokers. </P> <P>Source: The St. Paul Travelers Cos.</P>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-14597038.post-63179711521800149072007-02-12T19:37:00.001-05:002007-02-09T22:38:14.744-05:00State Revokes License of Indiana Insurance Agent<P class=byline>February 12, 2007 </P> <P>Indiana state regulators are seeking more than more than $365,000 from a former insurance agent for misusing money from premium payments made by more than 100 customers. </P> <P>The state Department of Insurance on Thursday permanently revoked the license of Daneile Frydrych, the owner of All Star Insurance in South Bend. That action following allegations that she spent money intended for customers' home and vehicle policies at casinos in Las Vegas and Michigan City, at clothing and book stores, and at a local adult entertainment store. </P> <P>The agency's order included a $285,000 fine against Frydrych and said customer losses exceed $80,000. </P> <P>Regulators will forward the case to the state attorney general's office for collection, said Nick Mann, investigations chief at the insurance agency. </P> <P>"This brings some amount of closure to the case,'' Mann said. "I know everyone wants their money back. We've tried to be realistic from the get-go that that might not happen, and I think people are aware of that.'' </P> <P>One of Frydrych's customers, Elizabeth Fuentes, said she paid $1,300 for a home insurance policy, but ended up with nothing. </P> <P>"Frydrych would probably be best to do some time and learn a good lesson in jail,'' Fuentes said. </P> <P>Frydrych did not attend a Dec. 28 hearing by regulators on the allegations. She could not be located for comment as no home phone number was listed in her name in the South Bend area. </P> <P>No criminal charges have been filed in the case.</P>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-14597038.post-1169936428518492162007-01-27T17:20:00.000-05:002007-01-27T17:20:28.773-05:00Federal Judge Puts Part of State Farm Katrina Settlement on Hold<P class=byline>By <A title="Contact this author" onclick="openWin( 'http://www.insurancejournal.com/feedback/?f=8&a=76356&author=14&code=author&url=/news/national/2007/01/27/76356.htm','feedback','width=320,height=385,menubar=0,toolbar=0,status=0,location=0,resizable=yes,scrollbars=auto');return false;" href="http://www.insurancejournal.com/feedback/?f=8&a=76356&author=14&code=author&url=/news/national/2007/01/27/76356.htm">Andrew G. Simpson, Jr.</A><BR>January 27, 2007 </P> <P>The federal judge who must sign off on a proposed $50 million class action settlement involving State Farm's handling of Hurricane Katrina claims has said he needs lots more information before agreeing to the deal affecting as many as 35,000 policyholders.</P> <P>U.S. District Judge L.T. Senter of the U.S. District Court of Southern Mississippi on Friday declined to approve the widely-reported settlement and did so "without prejudice," but he also made it clear that the parties have a lot of explaining to do.</P> <P>"In the absence of substantially more information than I now have before me, I am unable to say, even preliminarily, that the proposed settlement establishes a procedure that is fair, just, balanced, or reasonable," wrote Judge Senter.</P> <P>The ruling affects the proposed settlement of a class action on behalf of an estimated 35,000 State Farm claimants who did not sue the company. The agreement promises that their claims and any denials will be reconsidered.</P> <P>Read complete article online here- <A href="http://www.insurancejournal.com/news/national/2007/01/27/76356.htm">http://www.insurancejournal.com/news/national/2007/01/27/76356.htm</A></P>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-14597038.post-1169870504126802542007-01-26T23:01:00.000-05:002007-01-26T23:01:44.180-05:00S.D. Legislature Nixes Booster Seat Proposal for Older Kids<FONT id=role_document face=Arial color=#000000 size=2> <DIV> <P class=byline>January 26, 2007 </P> <P>A bill to require booster seats for children from the age of 5 through 7 was killed this week in the South Dakota Legislature. </P> <P>Supporters said many parents don't realize that older children often suffer serious injuries or are killed because seat belts and safety harnesses do not properly restrain them. </P> <P>Most parents know they should use infant seats for the youngest children, but they don't follow through when those children get older, said Dick Tieszen, lobbyist for State Farm Insurance. </P> <P>"The use of safety seats dramatically decreases for older children, and that as a result of that, the older children are experiencing injuries,'' he said. </P> <P>But opponents of the bill said the governor has a good program that distributes booster seats and it could be hurt if state law is changed to require them. </P> <P>They also said it would be difficult to enforce a law that would require booster seats for children ages 5 through 7 who are not yet 57 inches tall. Police couldn't tell their ages by looking at them or how tall they are, opponents of HB1134 said. </P> <P>"I don't think the time has come when we want to arrest mothers and traumatize the kids when we don't know what we're doing as far as making arrests goes ... with a measuring stick,'' said Rep. Gordon Pederson, R-Wall. </P> <P>The bill failed 6-7 in the House Transportation Committee.</P> <DIV style="MARGIN: 1.2em 0px; WIDTH: 99%; FONT-STYLE: italic">Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.</DIV></DIV></FONT>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-14597038.post-1169859800388109792007-01-26T20:03:00.000-05:002007-01-26T20:03:20.393-05:00Auto Insurance Fraud Crackdown Paying Off for Drivers<FONT id=role_document face=Arial color=#000000 size=2> <DIV> <H1><FONT size=1></FONT> </H1> <P class=byline>January 26, 2007 </P> <P>High-profile crackdowns on auto insurance fraud have resulted in dramatic savings for drivers in some Massachusetts communities.</P> <P>The statewide average premium is scheduled to drop by nearly 12 percent on April 1, but drivers in some communities where antifraud task forces have been operating will see even greater savings, with premiums falling 24 percent in Lawrence and more than 15 percent in some Boston neighborhoods.</P> <P>Drivers in Lawrence, the first Massachusetts community to target insurance fraud in 2003 following a case in which a grandmother died in what police called a staged accident, will see the average annual premium drop to $1,379 from $1,815.</P> <P>In Boston's Dorchester section, drivers will see the average premium fall to $1,670 from $2,033, a reduction of almost 18 percent.</P> <P>The new rates apply to what insurance companies call experienced drivers, who represent the most common category of insured driver.</P> <P>The industry's calculations are based on a driver with six or more years of experience, a vehicle that is a couple of years old, an average driving record, and comprehensive and collision coverage with a deductible of $500.</P> <P>"We've said that if we could take fraud out of the system, rates would come down,'' said Daniel Johnston, president of the Automobile Insurers Bureau of Massachusetts. "Now we finally have proof.''</P> <P>The antifraud campaign has led to charges against or the arrest of 528 people, including lawyers and chiropractors, Johnston said.</P> <P>Reduced fraud has also led to a reduction in claims filed with insurers, which allows regulators to cut premiums.</P> <P>In communities where fraud is less of a problem, and where the average premiums are lower, the percentage reduction coming on April 1 is also less. For example, experienced drivers in Newton will see their average premium drop 8.6 percent.</P> <P>"This is exactly how the system should work, and we can lower premiums even more in the future if we apply a similar approach to reducing accidents,'' said Stephen D'Amato, a consultant to the Center for Insurance Research in Cambridge.</P> <P>Massachusetts is the only state where auto insurance rates are set by state regulators.</P> <P>Some insurers say rates would drop even further if regulation was reduced and companies were allowed to compete for drivers' business.</P> <P>___</P> <P>Information from: The Boston Globe, http://www.boston.com/globe</P></DIV></FONT>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-14597038.post-1169786748187913602007-01-25T23:45:00.000-05:002007-01-25T23:45:48.186-05:00Study: Many Teens Tired and Distracted While Driving<H1> </H1> <P class=byline>January 25, 2007 </P> <P>Teen drivers are often behind the wheel when they are tired or being distracted by cell phone chatter or others' behavior, according to a new national survey of high schoolers. </P> <P>In the survey, 5,665 high school students said they are driving under extremely dangerous conditions -- fatigue, talking on cell phones, strong emotions, multiple passengers -- and many are still not wearing seatbelts. The National Teen Driver Survey, released by The Children's Hospital of Philadelphia and State Farm, represents 10.6 million 9th, 10th and 11th grade students in all public high schools in the United States.</P> <P>"Research has told us a lot about which teens get into crashes, but we don't know enough about the why," says Flaura K. Winston, M.D., Ph.D., co- scientific director and founder of the Center for Injury Research and Prevention at Children's Hospital of Philadelphia and principal investigator of the National Teen Driver study. "With this survey, we asked teens directly: what is happening when your peers drive that is making them unsafe?" </P> <P>Key findings about the teen experience in cars shows:<BR>-- 75 percent of teens see peers driving fatigued<BR>-- 90 percent see passenger behavior that distracts the driver<BR>-- 20 percent of 11th graders report being in a crash as a driver in the past year</P> <P><BR>The survey also revealed the important role that the teens see for their parents: <BR>-- 66 percent say that they care about their parents' opinion on cell<BR>phone use while driving<BR>-- 56 percent of them rely on parents to learn how to drive<BR>-- 39 percent of their parents provide total financial responsibility for<BR>their driving</P> <P>"Teens described a driving environment that would be challenging even to experienced drivers," says Winston. "Combine this driving environment with lack of training and inexperience and you have a deadly mix."</P> <P>In 2005, almost 7,500 15-to 20-year-old drivers were involved in fatal crashes according to the National Highway Traffic Safety Administration. The fatality rate for drivers aged 16 to 19 years, based on miles driven, is four times that of drivers aged 25 to 69 years.</P> <P>"Our aim is to help young drivers make safe decisions," says Laurette Stiles, vice president for strategic resources at State Farm. "We want to give them tools to help them avoid hazards and ultimately to save lives and make our roads safer for all."</P> <P><BR>Parents and teens can learn more about safe driving for teens at http://www.chop.edu/youngdrivers </P>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-14597038.post-1169786677733242062007-01-25T23:44:00.000-05:002007-01-25T23:44:37.740-05:00Ohio Nationwide Insurance Members' Data Taken in Theft from Vendor<H1> </H1> <P class=byline>January 25, 2007 </P> <P>Computer records containing medical claim information, health data and Social Security numbers of 28,279 Nationwide insurance customers were stolen from the office of a vendor in Massachusetts, the company said. </P> <P>A lockbox that contained computer backup tapes was taken during a break-in Oct. 26 at Concentra Preferred Systems in Weymouth, Mass., Nationwide Mutual Insurance Co. said Tuesday. </P> <P>A break-in of Concentra's office in Dayton happened the same day, with someone stealing a lockbox with backup tapes of medical claim data of about 130,000 Aetna Inc. health insurance members, Aetna said. Hartford, Conn.-based Aetna reported that break-in last month. </P> <P>A message seeking comment on the thefts was left Wednesday at Naperville, Ill.-based Concentra. </P> <P>When Aetna reported the break-in at Concentra, the vendor said accessing information from the backup tapes would require commercial equipment and special software packages. The company said the backup tapes could not be used on a standard personal computer. </P> <P>Cash, DVD players and other items also were stolen in Dayton, making it unlikely the culprits were trying to obtain information needed to commit identity theft, authorities said. </P> <P>Columbus-based Nationwide, informed of the theft two weeks after it happened, mailed letters last week to customers, most of whom live in central Ohio. The company delayed customer notification while it determined the risk of identity theft, which it believes is low, spokesman Mike Switzer said. </P> <P>Nationwide said it would offer affected customers a free year of credit monitoring and identity theft insurance. Aetna said last month that it would make a similar offer.</P> <DIV style="MARGIN: 1.2em 0px; WIDTH: 99%; FONT-STYLE: italic">Copyright 2007 Associated Press. All rights reserved. </DIV>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-14597038.post-1169786558501370682007-01-25T23:42:00.000-05:002007-01-25T23:42:38.506-05:00AIG Looks to Acquire Outstanding Shares of Auto Insurer 21st Century<H1><FONT size=1>January 25, 2007</FONT> </H1> <P>American International Group, Inc. (AIG) has submitted a letter to the board of directors of 21st Century Insurance Group proposing to acquire the outstanding 38.1 percent publicly held shares of 21st Century for $19.75 per share in cash.AIG and its subsidiaries own approximately 61.9 percent of the outstanding shares of 21st Century. The aggregate cash consideration payable would be approximately $690 million. Following the transaction, 21st Century would become a wholly owned subsidiary of AIG. </P> <P>Founded in 1958, 21st Century is a direct-to-consumer provider of personal auto insurance. With $1.4 billion of revenue in 2005, the company insures 1.5 million vehicles in 17 states (Arizona, California, Colorado, Florida, Georgia, Illinois, Indiana, Minnesota, Missouri, Nevada, New Jersey, Ohio, Oregon, Pennsylvania, Texas, Washington and Wisconsin).</P> <P>The proposed per share price represents a 19.0 percent premium to yesterday's closing price and a 25.5 percent premium to the average closing price during the last 12 months. The proposed per share price also represents a multiple of 19.6x the consensus estimates of 21st Century's 2007 earnings per share (based on a current First Call estimate of $1.01 per share). </P> <P>"Our proposal represents an excellent opportunity for 21st Century's shareholders to monetize their investment at a full and fair value for their shares. For AIG, this is an opportunity to make a substantial additional investment in a business we know well," said Martin J. Sullivan, president and chief executive officer of AIG. </P> <P>AIG contemplates that the transaction would be implemented through a merger agreement which would be negotiated and approved by a special committee comprised of directors of 21st Century who are independent of AIG. This proposal is subject to AIG's satisfactory completion of due diligence and satisfaction of regulatory requirements. </P> <P>AIG has advised 21st Century that AIG's sole interest is in acquiring the remaining shares of 21st Century held by the public shareholders and that it has no interest in a disposition of its controlling equity stake in 21st Century. </P> <P>Source: American International Group, Inc.</P>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-14597038.post-1168741518454443572007-01-13T21:25:00.000-05:002007-01-13T21:25:18.493-05:00More than 100 people charged with car insurance fraud in LA <H3 class=post-title> </H3> <DIV class=post-title>LOS ANGELES - More than 100 people were indicted in what authorities say is one of the state's largest cases of auto insurance fraud for allegedly bilking companies out of hundreds of thousands of dollars, officials announced Wednesday.<BR><BR>In the scam, employees at a dozen San Gabriel Valley law firms would steer accident insurance claim cases to a chiropractic clinic, prosecutors said. The clinic in turn would overbill insurance companies by signing off on claims that inflated the number of visits for treatment, with payouts shared among clients, clinics and the firms.<BR><BR>Total losses were hard to estimate, but investigators said insurance companies were defrauded about $500,000 during the two-year probe.<BR><BR>Los Angeles County District Attorney Steve Cooley said the defendants were "fueled by greed."<BR><BR>"People who make a career out of defrauding insurance companies will be exposed and will suffer the consequences," he said.<BR><BR>The number of defendants - 101 in all - made it the largest auto insurance fraud case in Los Angeles County and one of the largest in California, authorities said. Thirteen are office administrators who allegedly worked as "cappers," two are attorneys and 86 are insurance claimants.<BR><BR>Indictments unsealed last week charged about 200 counts of insurance fraud, 64 counts of soliciting fees for referrals - known as capping - and three counts of unauthorized practice of law. One defendant, Jorge "JC" Yang, faces 117 counts alone.<BR><BR>The investigation itself was opened in September 2004 after an informant at a clinic complained to authorities about employees at law offices who allegedly referred cases in exchange for fees and kickbacks from chiropractic centers. Throughout the two-year probe, an investigator worked undercover as an office manager at a clinic in Alhambra.<BR><BR>At least 88 people have been arrested, with the rest either overseas or at large. All but a handful have posted bail. Arraignments were scheduled through next week.<BR><BR>According to state Insurance Commissioner Steve Poizner, insurance fraud of all types totals about $15 billion a year.<BR><BR>The investigation was conducted by the district attorney's office, the California Highway Patrol and the state Department of Insurance.</DIV>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-14597038.post-1150394321633737362006-06-15T13:58:00.000-04:002006-06-15T13:58:41.643-04:00Car Crash Death Rate for Seniors, Already High, Expected to Rise<P class=byline>June 15, 2006 </P> <P>A study co-authored by a University of Virginia professor suggests that seniors citizens will die in car accidents at a higher rate in the years ahead as America's 75 million baby boomers age, grow more frail and continue to drive.</P> <P>Already, seniors 65 and over are second-most likely to die in car accidents, after young people aged 15-24, according to a National Institute on Aging report on America's elderly, "65+ in the United States: 2005." </P> <P>"In general, older people are more susceptible to injury than younger people," said Richard Kent, assistant professor of mechanical and aerospace engineering at U.Va.s' School of Engineering and Applied Science. "As the population ages, the ratio of women to men also changes, going from 1-to-1 for young people to 100 women for every 35 men by age 85. And women tend to be more frail than men, making them more susceptible to injury."</P> <P>Kent studied the characteristics of car accidents and the nature of injuries sustained by older drivers in a research project titled "On the Fatal Crash Experience of Older Drivers." The resulting paper, co-authored with Basem Henary, research associate, mechanical and aerospace engineering at U.Va. and Fumio Matsuoka, project manager for vehicle safety, Vehicle Engineering Division, Toyota Motor Corp., Japan, was recently named the Best Scientific<BR>Paper for 2005 by the Association for the Advancement of Automotive Medicine in Barrington, Ill., an organization dedicated to the prevention and control of injuries from motor vehicle accidents.</P> <P>The researchers' goal was to identify unique aspects of older-driver crashes -- in particular, the body region injured, the severity of the crash and the circumstances surrounding fatal crashes in which they were involved –- with an eye to identifying patterns that could be used in developing new technologies to assist seniors in driving safely.</P> <P>The researchers studied police reports on thousands of vehicle accidents for the years 1992-2002. They examined the accidents and injuries for three groups of drivers: young adults (16-33), middle-aged adults (34-64), and seniors (65 and older).</P> <P>The researchers' findings included:</P> <P>• Drivers 65 and over killed in car accidents were significantly more likely to die of a chest injury (47.3 percent vs. 24.0 percent in the youngest group)</P> <P>• Younger drivers were more likely to die of a head injury (22.0 percent vs. 47.1 percent in the oldest group)</P> <P>• Older drivers were more likely to die at a date after the crash date ("delayed death")</P> <P>• Frailty or pre-existing health conditions played a significant role in the deaths of the older group, but not in the younger group (50.0 percent of the deaths of the older group vs. 4.3 percent of the younger drivers' deaths)</P> <P>• Despite driving at lower average speeds than younger and middle-aged drivers, and a greater likelihood of wearing seatbelts, older drivers were more likely to be injured or die in an accident than younger drivers.</P> <P>According to the paper, published in the September 2005 Annual Proceedings of the Association for the Advancement of Automotive Medicine: "The archetypical elderly driver fatality involves a belted, sober driver pulling into the path of an oncoming vehicle during the day and dying several days after a collision of moderate severity. Pre-existing health issues are often related to the death. In contrast, the archetype for a 30-45 year-old driver fatality involves an unbelted, impaired driver losing control of his/her vehicle at night and dying during an extremely severe, single-vehicle crash."</P> <P>The study recommended that government and industry officials consider changes that would help reduce seniors' injuries and deaths from motor vehicle collisions. Areas deserving of attention included: roadway design, road signage, vehicle controls and active and passive safety systems.</P> <P>Researchers also identified technological developments that could help older drivers. These included seatbelts that would limit the force of a crash on a driver's body, crash-avoidance systems, technologies that would prevent elderly drivers from crossing the centerline or pulling into an intersection without having the right-of-way.<BR> <BR>Source: U.Va. School of Engineering and Applied Science<BR>For more information, visit http://www.seas.virginia.edu.</P>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-14597038.post-1148649930421702762006-05-26T09:25:00.000-04:002006-05-26T09:25:30.446-04:00The Basics 16 ways to slash your insurance rates <DIV><FONT color=#993300><EM><FONT color=#000000><STRONG>To cut your premiums, you've got to know how insurance companies are going to size you up.</STRONG></FONT></EM><BR><BR></FONT><EM>By Dana Dratch, Bankrate.com</EM></DIV> <DIV> </DIV> <DIV><EM>If y</EM><SPAN class=normalloose>ou're buying life, disability, long-term care or health insurance, your insurance company wants to know more about you. Depending on the type of policy, it could inquire about your habits, medical records and family history. Based on the answers, it will slot you in one of several categories that will help determine just how much you pay for coverage.<BR><BR>What you say and how you say it can make a difference in how your insurance company sees you and what it charges.</SPAN></DIV> <DIV><SPAN class=normalloose></SPAN> </DIV> <DIV><SPAN class=normalloose>"It's not enough to say you got a good rate," says Randy Herz, senior vice president of Herz Financial, an insurance advisory firm in Farmington, Conn. "You have to look at what their classifications are. Then you have to understand your own health. Health is one of the biggest factors in determining the cost of your insurance."<BR><BR>Here are some tips from insurance insiders to help you get the best health ranking -- and the lowest rates:<BR><BR><SPAN class=heading3red>Communication counts</SPAN><BR><B>Tell the truth, the whole truth and nothing but the truth.</B> Think that leaving something shady out of your health history might help? Wrong, for two reasons. First, the insurance company will likely find out (it is reading your records, after all), and it will assume the problem is severe because you didn't mention it. Even worse, if you withhold information that the company regards as material, it could cancel your life policy within the first two years, says Bob Hunter, director of insurance for the Consumer Federation of America.<BR><BR>Give your complete health story, but do it on your own terms and give the complete picture. Don't just say you have high blood pressure. Say you were diagnosed with high blood pressure five (or however many) years ago and have successfully controlled it with medication.<BR><BR>"The consumer should think about it from the side of the insurance company," says Robert Hoyt, head of the risk management and insurance program at the University of Georgia and president of the American Risk & Insurance Association. "To the extent you give them good, complete information and reduce the uncertainty, then ultimately you're going to get a fairer price."<BR><BR>If your agent or broker knows what wrinkles might give you a problem, he can shop you to the companies most likely to take you on at a good rate.<BR><BR><B>Watch your language.</B> Sometimes incomplete answers can paint a bad picture. And insurance underwriters are trained to assume the worst. So be clear and complete in your answers. If you had a nonaggressive cancer removed from your face one time several years ago, don't simply say you had cancer removed, says David Johnson, an insurance agent and board member with the Georgia Association of Health Underwriters. List the specific type -- basal cell, for instance -- and that it was done once with no recurrence.<BR><BR>Sometimes an application will ask the ever popular question, "Which of the following conditions have you been treated for?" Instead of just checking "chest pains," include the fact that it turned out to be indigestion and no follow up was needed.<BR><BR><B>Know the rules of the game.</B> "You need to ask what the (health) ranking is based on," says Hunter. "There should be objective criteria. And you really should shop a little. The criteria vary."<BR><BR>Find out what your ranking is with a specific company and why, says Hunter. It could be that something they don't know will improve your ranking and decrease your premium.<BR><BR><B>Shop around.</B> It's common consumer advice, but it can be even more important with insurance. Two different companies can view a person's health and the risk he or she poses very differently.<BR><BR>"Most companies try to put you in the right slot," says Hunter. "But if they make a mistake, you don't want that to be the only one you talked to."<BR><BR>Even the lingo varies from company to company. A ranking of "preferred" or "standard" might mean two very different things, with different rates, at two different companies.<BR><BR>Smart shopping is very important for smokers, especially people who only occasionally smoke a cigar or pipe. While some companies will automatically put you in a less-desirable category with a higher premium, others won't penalize you for that once-a-year stogie.<BR><BR><SPAN class=heading3red>Your physician can help</SPAN><BR><B>Alert your doctor.</B> Insurance companies want to talk with your doctor's office and look at your most recent records. Failing that, they might have to use only the records from the Medical Insurance Bureau (a repository for medical records used by insurance companies), which might not be to your advantage. Sometimes a doctor can give some perspective to a condition that might look worse in black and white (for example, a high cholesterol condition that's being treated successfully).<BR><BR>But a busy doctor's office can sometimes drop the ball, says Dave Evans, vice president and publisher for the Independent Insurance Agents & Brokers of America. And the insurance company will only try so many times before it gives up.<BR><BR>So let your doc know you're applying for insurance. A little advance notice can ensure the call isn't overlooked and give you the best chance at a good rating.<BR><BR><B>Make sure the company gets all of your records, not just some.</B> To get the most complete, up-to-date picture of your health, the company needs all of your records.<BR><BR>"If you've moved or migrated doctors, the fact of the matter is you probably have to be more proactive," says Evans.<BR><BR><B>Shop quietly.</B> Similar to a lot of inquiries on your credit, a lot of inquiries on your insurability can throw up a red flag, says Herz. Instead, choose an agent or broker who can quietly do some informal shopping to narrow your options before you do anything official. "It avoids you getting declined or rated," says Herz.<BR><BR>In addition, if you use several different agents or brokers, let them know you're shopping around. That way, "everyone knows what they're working with and it might make them more competitive," says Herz.<BR><BR><B>Pick your insurance professional carefully.</B> Not every agent is up to the task, especially if you've had some health problems in the past.<BR><BR>"If you're dealing with someone who does this a lot, they can help coordinate and shepherd you along because they are comfortable with the process," says Evans.<BR><BR>If you anticipate problems, it's especially important to have someone who knows the system. This can be an agent or broker who knows which companies are likely to give you the best rates and someone who knows how to talk to underwriters to convey the true risk -- or lack of risk -- you would pose.<BR><BR>"The worse your health is, the more this matters," says Herz.<BR><BR><SPAN class=heading3red>About your vices: Cut them out</SPAN><BR><B>Develop good habits.</B> The insurance company probably won't ask how many times a week you work out, how many grams of fat you consume or how many glasses of water you drink. But all of those things impact the criteria they will examine. So hit the gym, lose those extra pounds and keep yourself healthy.<BR><BR>"These things can make a difference for people, not just in getting coverage but in the price you'll get," says Evans.<BR><BR>Want to drop 30% from your life insurance premium? Kick the cigarettes.<BR><BR>"Smoking can add up to 30% to the cost of your life, disability and health insurance premiums," says Johnson.<BR><BR><B>Avoid drugs and alcohol. </B>If you take illegal drugs, you're not going to find an insurance company that wants to take you, says Johnson.<BR><BR>"If (a person) has a recent history of drug use, they're not going to be able to get insurance," he says.<BR><BR>If you're a recovering alcoholic, "You're probably going to be able to get coverage, but it could be a higher premium," says Johnson. Emphasize, with medical records to back you, how long you've been sober. The insurance company could see a relapse as a risk to them, so the more you can show how unlikely that is, the better for your rates.<BR><BR><B>Prepare for your exams.</B> In some cases, the insurance company will require either a physical or a short exam by a paraprofessional, which can include taking your vital signs and drawing some blood.<BR><BR>To get the most accurate reading, schedule it first thing in the morning on an empty stomach. (Obviously, if you have a condition that makes that tricky, talk to your doctor first.) Give up vigorous exercise like that three-mile run 24 hours in advance. Get a good night's sleep. And some experts recommend forgoing your morning coffee, or even water.<BR><BR><B>Follow up on the details of your medical records.</B> Do your records contain a recommendation for a test that you never got? The insurance company could see that as a bad sign, says Herz. "Have the doctor note in your records that you didn't need it after all -- or get it done," he says. Otherwise the company is likely to think that you could have some undiagnosed problem.<BR><BR><B>Think about your future.</B> If you're healthy now and considering buying term life insurance, make sure that it's renewable and convertible, says Evans. "What that means is that you can convert to permanent coverage without a physical. That would be worth paying extra for," he says.<BR><BR><SPAN class=heading3red>Keep trying and keep asking questions</SPAN><BR><B>Try to get coverage even if you've had health problems.</B> Work with a professional you trust and have him quietly look into what kind of ratings you would get, says Herz. Bear in mind that a number of conditions aren't the black marks they used to be.<BR><BR>"A person who had open-heart surgery used to be declined," says Herz. "Now they can get regular rates."<BR><BR>Ditto for folks who are using medications to control conditions such as high blood pressure and high cholesterol.<BR><BR>"I've seen people who have cancer, heart (problems), all sorts of things, get insurance because they were able to get a favorable prognosis," says Evans.<BR><BR><B>Ask why.</B> If you are declined or end up with rates higher than you were expecting, find out why. Talk with your agent and ask how to get a copy of your records from the Medical Information Bureau, says Evans.<BR><BR><B>Don't give up.</B> "Don't consider a (lower health ranking) or decline in the past as indicative of future events," says Herz. It could be that last time around your agent didn't work hard enough for you, or it could be that today, with new drugs and treatments, your condition wouldn't pose as much of a risk, he says.<BR><BR>And time does heal -- even in the insurance business. "Sometimes, the further you get from (an event)," says Herz, "the better off you are."<BR><BR><BR></SPAN></DIV>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-14597038.post-1147094755057894492006-05-08T09:25:00.000-04:002006-05-08T09:25:55.066-04:00Auto Insurance Costs Holding Steady; Average Nationwide Premium at $867<H1> </H1> <P>The cost of auto insurance is expected to rise by just 0.5 percent in 2006, the smallest increase in six years, reports the Insurance Information Institute.</P> <P>A declining number of auto accidents, safer cars and fraud-fighting efforts are some of the forces contributing to the cost slowdown. </P> <P>However, rising medical care and vehicle repairs continue to put upward pressure on rates, along with hurricane-related claims, the industry group also noted.</P> <P>The average cost for auto insurance nationwide for 2006 is estimated at $867—an increase of just $4 per vehicle from last year, according to the I.I.I, despite record vehicle-related losses arising from the 2005 hurricane season. The projected increase represents a continued slowdown from 2005 when auto insurance costs rose by 2.5 percent. </P> <P>"The cost of auto insurance is increasing by about one-sixth the rate of inflation and little more than a single gallon of gasoline," said Robert Hartwig, senior vice president and chief economist of the I.I.I. </P> <P>"Many people who, for example, drive safe cars, have excellent safety records and good credit-based insurance scores may see their rates go down, often by 3 to 5 percent or about $25 to $50 per vehicle. This is welcome news for drivers who have been battered by record high gas prices over the past year," he added. </P> <P>What's more, Hartwig said, people who trade-in their expensive gas-guzzlers for smaller, more fuel efficient and less expensive vehicles may see even lower insurance costs in many cases. Smaller cars that cost less with fewer horsepower are often less expensive to insure because repair costs are less. Some insurers now even offer special discounts for hybrid vehicles. </P> <P>It may also pay to just leave the car at home. "People who make the switch to public transportation may also qualify for lower insurance premiums if they no longer use the vehicle commuting and drive it significantly fewer miles each year," said Hartwig.</P> <P>Hartwig cited the declining number of auto accidents, safer cars, new auto theft technology, fraud-fighting efforts and graduated licensing laws for teen drivers as additional key factors contributing to the cost slowdown. </P> <P>However, he observed that rising costs for medical care and vehicle repairs as well as defense costs and jury awards remain a problem, according to I.I.I.'s analysis.</P> <P>Restrictions on the use of credit-based insurance scores in several states are also a cost threat to millions of drivers, according to its analysis. </P> <P>"Insurance scores are highly accurate predictors of future loss, allowing insurers to more accurately price insurance and create a more fair and equitable rating environment for all drivers. Efforts to ban scoring will lead directly to higher insurance rates for good drivers while, ironically, lowering rates for people who are involved in the most accidents," said Hartwig, adding that efforts by some states to restrict other underwriting factors that have been used by some insurers for decades could have a similar negative impact.</P> <P>Katrina Clobbered Cars Too <BR>Record catastrophe losses associated with Hurricanes Katrina, Rita, Wilma, Dennis and Ophelia (the five storms that hit the Southeast in 2005) and predictions by leading meteorologists of more of the same for the next 15 to 20 years are putting pressure on the cost of auto insurance in some parts of the country.</P> <P>Insurers received nearly 674,000 claims for vehicles that were damaged or destroyed by last year's storms. Those claims occurred across a wide swath of southern states and cost insurers some $3.2 billion," said Hartwig.</P> <P>Florida, Louisiana and Mississippi saw the most claims, but large numbers of claims were also filed in Texas, Alabama, Georgia and North Carolina. Even the landlocked states of Arkansas and Tennessee reported significant numbers of claims despite being located hundreds of miles from where the storms made landfall. </P> <P>Weather-related damage to vehicles, including flooding, is covered under the "comprehensive" portion of auto insurance policies. Banks issuing car loans and leasing companies generally require vehicle owners to carry comprehensive coverage. People who own their vehicles outright are not required to carry comprehensive coverage, though many do. The coverage is frequently dropped, however, on older vehicles.</P> <P>Claim Severity Continues to Rise <BR>"Unfortunately, while drivers today are filing fewer claims, those that are filed cost more," Hartwig said. "It costs more to repair cars, particularly following accidents involving sport utility vehicles."</P> <P>This year insurers will pay between $15 and $20 billion in medical claims, the I.I.I. reported. Higher costs for hospitalization and pharmaceuticals, and state regulations that encourage abuse of medical treatments and associated legal costs are also to blame. "Collectively, these high costs in some states more than offset the decline in accident frequency, pushing overall rates upward," Hartwig observed.</P> <P>Cost Drivers in Insurance<BR>Medical costs are an important factor in the auto insurance market. Each year more than three million car accidents involve injuries. More than one in four auto accidents resulted in injury claims in 2003, according to the Insurance Research Council (IRC).</P> <P>The average cost of a bodily injury claim exceeded $10,000 in 2005, but can easily run into the tens of thousands of dollars.</P> <P>Higher jury awards in vehicular liability cases continue to put additional upward pressure on auto insurance rates. The average jury award in auto liability cases was $261,000 in 2003, according to the most recent available data from Jury Verdict Research.</P> <P>"Auto insurance litigation is very expensive," said Hartwig. "In 2004 auto insurers spent more than $4.1 billion defending policyholders from lawsuits brought against them. Auto liability issues are much more important than people realize," he continued. "About 60 percent of auto premiums paid in 2005—almost $60 billion—was for liability coverage. As we look at 2006 and into 2007, we see this trend continuing."</P> <P>Auto theft is another significant factor that affects rates. According to the Federal Bureau of Investigation (FBI), an automobile is stolen every 26 seconds in the United States. While the number of auto thefts decreased by 1.9 percent in 2004, the first decrease in five years, there were still 1.24 million vehicles reported stolen. The good news is that preliminary FBI data for the first half of 2005 indicate that the auto theft rate fell by 2.1 percent. Declines were posted in every region except the West.</P> <P>The decreases over the past two years come on the heels of a 1.2 percent increase in auto thefts in 2003, 1.5 percent in 2002, 5.9 percent in 2001 and 0.7 percent in 2000. The nation's highest theft rates were found in the West and South, with the lowest rates occurring in the Midwest and Northeast. Automobile theft is a much bigger problem for some cities than others. Modesto, California, was the auto theft capital of the United States in 2004, with an auto theft rate nearly quadruple that of the country overall. Other problem cities include Las Vegas, Phoenix and Seattle. </P> <P>New vehicle security devices, such as electronic tracking systems can help police find stolen vehicles and keep premiums down. Some insurers offer car owners these tracking systems at a special price in combination with premium discounts.</P> <P>Fraud and abuse remain major problems in some states, such as New York, Maryland, Florida and Massachusetts. However, crackdowns by law enforcement agencies and insurers have put a definite dent into organized insurance fraud.</P> <P>Factors Affecting What People Pay for Auto Insurance<BR>The average driver will pay $867 in 2006. But what an individual driver pays will vary by state, insurance company and motorist characteristics."</P> <P>Factors that influence the cost of coverage may include:<BR>* Type of car and specific safety features;<BR>* Number of miles driven and type of driving;<BR>* Family claim record, including the number of accidents and their severity;<BR>* Driving record, including speeding tickets;<BR>* Age, gender and experience of driver; and<BR>* Credit-based insurance score.</P> <P>For more information on auto insurance, go to the I.I.I. Web site: <A href="http://www.iii.org/individuals/auto">http://www.iii.org/individuals/auto</A>.</P> <P>Source: The I.I.I. is a nonprofit, communications organization supported by the property/casualty insurance industry.<BR><A href="http://www.iii.org">www.iii.org</A></P> <P> </P> <DIV> </DIV> <DIV> </DIV> <DIV><FONT lang=0 face=Arial size=2 FAMILY="SANSSERIF" PTSIZE="10">--------------------------------------------------------------------------------------------------------------------------------<BR>Insurance Q&A Blog Homepage- <A href="http://insureqa.blogspot.com/">http://insureqa.blogspot.com/</A><BR><BR>To have your questions or comments addressed send them to <U>insureqa@aol.com<BR><BR></U>To buy a text link on Insurance Q&A Blog, Click Here- <A href="http://insureqa.blogspot.com/2006/01/buy-text-link-from-insurance-q.html">http://insureqa.blogspot.com/2006/01/buy-text-link-from-insurance-q.html</A><BR><U><BR><BR></U><BR></FONT></DIV>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-14597038.post-1147094540393134262006-05-08T09:22:00.000-04:002006-05-08T09:22:21.436-04:00Make Health Care More Affordable And Available For All Americans Through HSAs<P><FONT face="Arial, Helvetica, sans-serif" color=#003399 size=3><B>White House Fact Sheet: Making Health Care More Affordable and Accessible for All Americans </B></FONT></P> <P>From the White House: <A href="http://www.whitehouse.gov/news/releases/2006/05/20060501-8.html">http://www.whitehouse.gov/news/releases/2006/05/20060501-8.html</A><BR><STRONG></STRONG></P> <P><STRONG>Today, President Bush Discussed His Comprehensive Strategy To Make Health Care More Affordable And Available For All Americans Through Health Savings Accounts (HSAs), Improved Transparency, And Other Innovative Reforms. </STRONG>The Administration is determined to reduce health care costs by pursuing practical, commonsense reforms that will improve quality and increase choice. America leads the world in health care because we believe in a system of private medicine that encourages innovation and change. The best way to reform our health care system is to preserve this system of private medicine, strengthen the relationship between doctors and patients, and make the benefits of private medicine more affordable and accessible. </P> <P><STRONG>Our Reforms Are Guided By Two Clear Goals.</STRONG> The first goal is to meet America's obligation to seniors and the poor. The second goal is to make care and coverage more affordable and available for all American families. </P> <P><STRONG><U>The President Is Working To Meet America's Obligation To Seniors And The Poor </U></STRONG></P> <P><STRONG>Beneficiaries Are Enrolling In The Medicare Prescription Drug Benefit.</STRONG> Medicare drug coverage enables the typical senior to spend about half of what he or she used to spend on prescription drugs each year. About a third of seniors are eligible for prescription drug coverage that includes little or no premiums, low deductibles, and no gaps in coverage. On average, Medicare will pay for more than 95 percent of the costs of prescription drugs for low-income seniors. More than 30 million people now have prescription drug coverage through the Medicare program, and hundreds of thousands more are signing up each week. The May 15 deadline for seniors to sign up at the lowest cost is approaching, and the President encourages our Nation's medical community to continue getting the word out to seniors about the benefits of this program.</P> <P><STRONG>We Are Strengthening Medicaid.</STRONG> Earlier this year, the President signed legislation making it easier for states to offer alternative benefit plans, provide coverage to more people, and design their Medicaid program to meet their needs and budgets. </P> <P><STRONG>We Are Expanding Community Health Centers.</STRONG> These centers provide primary health care for the poor, so they do not have to go to hospital emergency rooms for routine care. Since the President took office, the Administration has funded about 800 new or expanded Health Centers – bringing our total to more than 3,700 Health Centers serving more than 13 million Americans a year. Over the next two years, we will fund the opening or expansion of 400 more Health Centers.</P> <P><STRONG>We Are Making Medicare And Medicaid Financially Sound.</STRONG> Today, the Medicare and Social Security Trustees release their annual report. Each year, the Trustees remind us that these programs are not structured in a way that they will be financially sound for our children and grandchildren. The good news is that we do not need to cut these programs, but we can save them by restraining the growth in spending to levels we can afford. The President continues to call on Congress to join him in creating a commission to examine the full impact of baby-boom retirements on Social Security, Medicare, and Medicaid.</P> <P><STRONG><U>The President Has Five Key Policies To Make Health Care More Affordable And Available For All American Families</U></STRONG></P> <P><STRONG>1. Expand Health Savings Accounts (HSAs).</STRONG> HSAs lead patients to demand more value for their money by enabling them to control their health care spending.</P> <UL> <LI> <P><STRONG>HSAs Have Two Components: Low-Cost Catastrophic Insurance Coverage And Tax-Free Savings Accounts.</STRONG> Catastrophic coverage provides protection in the event of a devastating medical illness. HSAs allow Americans to contribute to a tax-free account to pay for routine medical needs and to build up savings by rolling over any contributions unspent in a given year. HSAs can help us move our health care system away from one where a third party pays for most of the costs to one where consumers make their own health care decisions.</P> <LI> <P><STRONG>HSAs Are Making Health Care More Affordable And Accessible.</STRONG> From March 2005 to January 2006, the number of HSAs tripled from 1 million to more than 3 million. Forty percent of those who own HSAs have family incomes below $50,000. More than one-third of those who bought HSAs on their own had previously been uninsured. </P> <LI> <P><STRONG>HSAs Are Helping American Hospitals.</STRONG> More insured Americans means fewer people arriving at our Nation's hospitals needing uncompensated care. </P> <LI> <P><STRONG>The President Believes Congress Needs To Give Americans Who Buy HSA Policies On Their Own The Same Tax Breaks As Those Who Get Their Health Insurance From Their Employers. </STRONG>Under current law, the self-employed, the unemployed, and workers at companies that do not provide health insurance are at a great disadvantage. The President also believes Congress should fix the tax code to raise the limit on tax-free contributions to HSAs. In addition, the President has proposed a refundable tax credit to help low-income Americans purchase health coverage on the individual market. Under his proposal, low-income families can receive up to $3,000 in a refundable tax credit to purchase HSA-qualified insurance. </P> <LI> <P><STRONG>Health Insurers Should Be Allowed To Sell Portable HSA Policies Nationwide.</STRONG> Today, the savings in health accounts are portable, allowing savings accounts to be taken from job to job. However, the health insurance within HSAs is often not portable because of outdated laws and practices that prevent insurers from offering portable policies. </P> <LI> <P><STRONG>The President Calls On Congress To Move Bills That Improve Tax-Free Health Savings Accounts. </STRONG>These bills will end many of the biases in the tax code, provide a tax credit of up to $3,000 for low-income families, and make HSAs more attractive to millions of Americans. </P></LI></UL> <P><STRONG>2. Increase Transparency. </STRONG> To get the best quality care for the best price, patients need to know in advance what their medical options are, the quality and expertise of doctors and hospitals in their area, and what their medical procedure will cost. HHS Secretary Michael Leavitt is encouraging leaders in the health care industry to post their "walk-in" prices to all patients, and the President has directed HHS to make data on Medicare's price and quality publicly available on the Internet. The Administration is also asking insurance companies to increase health care transparency by providing their negotiated prices and quality information to their enrollees – and the Federal government will do the same.</P> <UL> <LI> <P><STRONG>To Help Spur This Transparency Revolution, The Administration Will Require Transparency From Insurance Plans Participating In Federal Programs.</STRONG> Beginning this year, the Federal Employees Benefits program and the military's Tricare system are asking contractors to provide price and quality information. The President is also asking hospitals and insurers to make information on prices and quality available to all patients, increasing transparency without the need for legislation from Congress to require transparency by law. </P></LI></UL> <P><STRONG>3. Apply Modern Information Technology. </STRONG> Too many doctors' offices and hospitals have the most advanced technology of the 21st century but still use last century's filing systems for managing medical records. A nationwide information network will protect the privacy of a patient's medical information while making health information available in real-time. We are making good progress toward the President's goal that most Americans have an electronic health record by 2014.</P> <P><STRONG>4. Enact Association Health Plans (AHPs).</STRONG> Unlike big businesses, small companies cannot negotiate lower health-insurance rates because they cannot spread their risk over a large pool of employees. AHPs would allow small firms to band together across state lines and buy insurance at the same discounts available to big companies. The House has approved AHP legislation four times during the President's Administration, and it is now time for the Senate to pass legislation that makes health insurance more affordable for small businesses.</P> <P><STRONG>5.</STRONG><STRONG> Enact Medical Liability Reform.</STRONG> The glut of frivolous lawsuits are driving good doctors out of practice and driving up costs by forcing many doctors to practice defensive medicine – ordering unnecessary tests and writing unnecessary prescriptions. The total cost of defensive medicine to our society is an estimated $60 billion to $100 billion per year, including $28 billion billed directly to taxpayers through increased costs of Medicare, Medicaid, VA, and other Federal health programs. Junk lawsuits are a national issue requiring a national response. The House has passed a good medical liability reform bill, and it is time for the Senate to act.</P> <P align=center># # #</P> <P align=center> </P><!-- END --> <DIV> </DIV> <DIV> </DIV> <DIV><FONT lang=0 face=Arial size=2 FAMILY="SANSSERIF" PTSIZE="10">--------------------------------------------------------------------------------------------------------------------------------<BR>Insurance Q&A Blog Homepage- <A href="http://insureqa.blogspot.com/">http://insureqa.blogspot.com/</A><BR><BR>To have your questions or comments addressed send them to <U>insureqa@aol.com<BR><BR></U>To buy a text link on Insurance Q&A Blog, Click Here- <A href="http://insureqa.blogspot.com/2006/01/buy-text-link-from-insurance-q.html">http://insureqa.blogspot.com/2006/01/buy-text-link-from-insurance-q.html</A><BR><U><BR><BR></U><BR></FONT></DIV>Unknownnoreply@blogger.com0