Penn. Regulators Urge Consumers to Consider Buying Flood Insurance

March 22, 2013Email ThisPrintNewslettersTweetArticleComments

The Pennsylvania Insurance Department is encouraging homeowners to consider buying flood insurance to help protect against potential spring floods.

Winter ice and snow increases the chance of spring flooding, Pennsylvania regulators warned. Further, Pennsylvania is one of the most flood-prone states in the nation and flooding can occur at any time of year.

Pennsylvania residents must carry flood insurance if they live in a designated flood zone, but flooding can happen inland and away from major waterways. Homes that could be flooded by an overflowing creek or pond, water running down a steep hill or melting snow are at risk for flood damage.

Regulators stressed that homeowners insurance policies do not cover flood damage. Also, it takes 30 days for newly purchased flood insurance policies to go into effect, so the ideal time to buy a policy is long before flooding is forecast.

Other flood insurance facts include:

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Buying In: An Interview with an In-House Insider (Part 1)

Now that bonuses, year-end collections, and holiday parties are behind us, it is helpful to remind ourselves (early on in the new year) that it is (paying) clients that make everything possible for Biglaw firms. A few months ago, I was the fortunate recipient of some illuminating correspondence from a Biglaw refugee turned in-house counsel, offering a

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Insurers Begin Providing Health Plan Buying Guides

September 25, 2012Email ThisPrintNewslettersTweetArticleCommentsThe Obama administration on Monday began requiring health insurers to provide user-friendly guides to patients that explain their benefits, aiming to make buying insurance nearly as easy as scanning packages of food for nutrition facts.

Under President Barack Obama’s healthcare reform law, employers and insurers must provide a summary of benefits and coverage in a clearly worded, standardized format that allows the private insurance market’s 163 million beneficiaries to make side-by-side comparisons of plan offerings.

Consumers are also required to have access to a standardized glossary of insurance and medical terms. The rule takes effect just as insurers and employers prepare for annual enrollment periods, when employees select their coverage for 2013.

The benefit guides will also factor into the creation of new state-based health insurance markets due to begin offering subsidized, private coverage to moderate-income consumers in January 2014.

The Department of Health and Human Services released an eight-page sample benefits form to demonstrate how the actual summaries will outline everything from deductibles and out-of-pocket expenses to referrals and network providers.

The guides are also supposed to show what a plan covers for two common medical situations — new births and adult diabetes.

U.S. officials compared the summaries to the Nutrition Facts label required for packaged food sold in the United States.

The rule has been criticized by the insurance industry as a new administrative burden that will increase the cost of healthcare coverage.

 

 

Copyright 2012 Reuters. Click for restrictions.Email ThisPrintNewslettersTweetCategories: National NewsTopics: buyers guide, health plan buyers guide, Patient Protection and Affordable Care ActHave a hot lead? Email us at newsdesk

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FEMA OKs Additional $5.5M for Buying Flood-Prone Properties in Penn.

May 25, 2012Email ThisPrintNewslettersTweetArticleComments

Federal Emergency Management Agency (FEMA) on Thursday approved more than $5.5 million in additional federal funding for property acquisitions in Pennsylvania that will permanently remove flood-prone properties from harm’s way. Additional projects continue to be approved as the application process moves ahead and program requirements are met.

An estimated $66 million is expected to be available to Pennsylvania for the property acquisition program as a result of Hurricane Irene and Tropical Storm Lee.

According to the FEMA announcement, the funds are being obligated through its Hazard Mitigation Grant Program (HMGP).


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Blue Cross in Mont., Idaho Buying Benefit Admin Company

April 12, 2012Email ThisPrintNewslettersTweetArticleComments

Cross and Blue Shield of Montana along with Blue Cross of Idaho are buying an Idaho company that provides health products and employee-benefit administration services and merging it with a similar Montana company.

The insurance companies have acquired Peak 1 Administration of Coeur d’Alene, Idaho and merged it with Blue Cross subsidiary Insurance Coordinators of Montana, which is based in Helena.

The Independent Record reported the company will operate under the name of Peak 1 Administration. Insurance Coordinators serves customers in Montana, Idaho, Wyoming, Washington and Oregon.

Officials declined to discuss the purchase price.

Peak 1 President Dan Crawford says the merger allows them to increase the services they offer and expand the area they serve.

Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.Email ThisPrintNewslettersTweetCategories: West NewsTopics: Blue Cross of Idaho, Blue Shield of Montana, Business Moves & Mergers, employee benefitsHave a hot lead? Email us at newsdesk

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