INSURASALES

Tag: government

Major insurance company shutting down after child sex abuse claims force bankruptcy

An insurance company, which has insured several New York hospitals and charities, has filed for bankruptcy and is closing its practice after being overwhelmed by lawsuits related to that state’s Child Victims Act (CVA). Bermuda-based Northeast Insurance Company filed for Chapter 15 bankruptcy protection in New York on Oct. 15, seeking U.S. recognition of its ongoing liquidation process in Bermuda.

Congress Faces Deadline to Extend Tax Credits as Health Premiums Loom Large

Congress must act swiftly to extend premium tax credits for 22 million Americans or face soaring health insurance premiums and coverage losses during the upcoming open enrollment period.

Massachusetts Group Insurance Commission Faces $240M Funding Gap

Massachusetts Group Insurance Commission seeks $240M to cover health claims deficit driven by rising provider prices and prescription drug utilization, including GLP-1 medications.

President Trump's Executive Order Aims to Lower Drug Prices by Aligning Small Molecule Drug Policy with Biologics

President Trump's latest executive order modifies the Medicare Drug Price Negotiation Program, aligning the treatment of small molecule drugs with biologics and aiming to reduce drug prices.

Congress Calls for GAO Probe into Medicare Advantage Plan Acquisitions

U.S. Representatives urge a probe into Medicare Advantage plans acquiring health businesses, potentially affecting compliance with medical loss ratio standards.

SSA Enhances Telephone Claim Security with New Anti-Fraud Technology

The Social Security Administration enhances security and accessibility for telephone claims with new anti-fraud technology. Learn how this impacts beneficiaries and prevents fraud.

Tackling Medicare Fraud: A Call for Reform and Efficiency

Explore the urgent need for reforms in Medicare to combat fraud, which costs taxpayers billions yearly.