ISU Insurance Services – Atwood Agency Blog

ISU Insurance Services – Atwood Agency Bloghttp://www.atwoodins.com/blog/View ISU Insurance Services – Atwood Agency's Website Blogen-uspostmaster@www.atwoodins.comInsurance Website Builder - www.insurancewebsitebuilder.comurn:uuid:f1b5e8c8-86c3-48aa-abb5-7d4131be15e5urn:uuid:8b1a0d1a-bf9e-4b5c-a646-3426f8ebae5bUser-friendly health plan summaries at riskYahoo News, By Ricardo Alonso-Zaldivar - January 26, 2012: One of the most popular provisions of President Barack Obama's health care overhaul — consumer-friendly summaries of what your insurance plan covers — suddenly seems to be at ri...Fri, 03 Feb 2012 13:40:40 -0600Yahoo News, By Ricardo Alonso-Zaldivar - January 26, 2012: One of the most popular provisions of President Barack Obama's health care overhaul — consumer-friendly summaries of what your insurance plan covers — suddenly seems to be at risk. Consumer groups say it's not Republican opposition they're worried about, but a White House that doesn't want to be seen, in an election year, as churning out costly new regulations. At issue is the health care law's requirement that insurance plans provide simple, standard summaries of coverage and costs to help consumers pick benefits that are right for them — a sort of "CliffsNotes" version of the cryptic jargon. The rule is due to take effect in time for open enrollment season this fall and is undergoing final review by the White House. It would apply to all private and employer health plans, covering an estimated 180 million Americans. But consumer advocates say they fear the administration may heed industry complaints that the regulation, as proposed last summer, is too costly, burdensome and intrusive. "There is concern that the consumer protections we were hoping to see may not be in the final rule," said Dr. LaShawn McIver, policy director for the American Diabetes Association. "Ultimately, we are looking for a consumer-friendly product that gives people the information they need about what levels of coverage they can expect." Her organization and four others — the American Cancer Society, the American Heart Association, AARP and Consumers Union — wrote Obama this week urging him not to water down the requirements. "The information available to Americans today is wholly inadequate for consumers to choose and understand the insurance coverage options available to them," their letter said. Simple-to-understand health plan summaries are the most popular provision of the health care law, which otherwise continues to divide the public. That's according to a poll last November by the nonpartisan Kaiser Family Foundation, which found the summaries garnered support from 84 percent of Americans, compared with 37 percent who viewed the overall law favorably. Administration officials said they can't comment on the specifics of regulations under review, but they sought to reassure the consumer groups, which were major backers of the health care law as it was being debated in Congress. "Giving consumers the information they need and making the health care system more transparent is a top priority," said Erin Shields, a spokeswoman for the Health and Human Services Department. "We're confident the final rules ... will meet that goal." A proposed template released by the department last summer included such basic details as information on premiums, deductibles and copays for doctor visits and hospitalizations. Such information is now generally the norm in health plan summaries that most companies voluntarily provide their employees during annual open enrollment. But the federal template went further. It also included something fairly new — so-called "coverage examples" that give a ballpark estimate of the cost for a typical individual for three common health conditions: normal childbirth, treating breast cancer and managing diabetes. Because all health plans would have to follow the same rules in compiling the information, it would allow consumers to compare insurance in ways they can't now. Lynn Quincy, a senior policy analyst for Consumers Union, said the advocacy groups have learned that two of the coverage examples may be omitted in the final regulation, leaving only a comparison of maternity costs, at least at the outset. Additionally, the requirement for employer plans to provide the benefit summaries may be delayed or weakened. "We are very concerned that compared to the proposed rule that was released in August, the final rule we are expecting shortly will be weakened," she said. "That would be very bad for consumers." America's Health Insurance Plans, a trade group representing the industry, has complained that the timeline for introducing the comparisons this year is unrealistic, and the initial cost would be three times what the government estimated, or $382 million for the first two years alone. That would drive up costs for employers and health plans, the industry said, at a time when many companies are struggling in a difficult economy. The industry says simple summaries for consumers are not necessarily easy to produce, raising numerous issues that range from accurately boiling down complicated insurance options into a couple of written lines, to accommodating the coverage changes that employers make from year. Deadline pressure also adds to costs, requiring insurers to hire outside contractors to meet the federal timetable, the industry says. Allowing an additional 18 months would significantly reduce the cost. In his State of the Union message Tuesday night, Obama demonstrated that he's sensitive to criticism of government overreach through regulations. "There is no question that some regulations are outdated, unnecessary, or too costly," the president said. "I've ordered every federal agency to eliminate rules that don't make sense." urn:uuid:6b08fd47-d10d-4972-825e-abb7f9ccc5deCalifornia Sees Enactment of a Series of Insurance-Related Laws BestWire Services, By Jeff Jeffrey - January 3, 2012: A series of new laws have gone into effect in California on Jan. 1, and affect a range of insurance lines in the state. A.B. 315, is designed to bring the state's surplus lines laws into accord...Fri, 13 Jan 2012 11:36:55 -0600BestWire Services, By Jeff Jeffrey - January 3, 2012: A series of new laws have gone into effect in California on Jan. 1, and affect a range of insurance lines in the state. A.B. 315, is designed to bring the state's surplus lines laws into accordance with the Dodd-Frank Act's Nonadmitted and Reinsurance Reform Act provision. Under that provision, only the policyholder's home state will have jurisdiction over surplus lines sales. It also allows the state to keep 100% of taxes on premiums generated by surplus lines insurers domiciled in California. That move largely follows the approach other states have taken, but the California law doesn't address whether the state plans to join one of the two proposed frameworks for regulating interstate surplus lines sales (Best's News Service, July 20, 2011). A.B. 689 requires insurers to establish comprehensive standards to ensure the suitability of annuities senior citizens would purchase, exchange or replace. The standards that must be considered include an annuity purchaser's age, income, financial objectives and other factors. It also authorizes the insurance commissioner to revoke an insurance agent's license, impose fines and restore money lost to the consumer when suitability standards are violated (Best's News Service, Sept. 22, 2011). A.B. 793 prohibits insurance agents and brokers from participating with, employing, or making referrals to someone involved in selling reverse mortgages with the only purpose of cross-selling unsuitable insurance products such as an annuity (Best's News Service, Aug. 30, 2011). S.B. 599 and its companion bill S.B. 713, are part of a legislative package that is designed to require more disclosure by life insurers in how they intend to use retained asset accounts in the settlement process. S.B. 599 includes a provision that allows life insurers to set up an RAA on behalf of a life insurance beneficiary if they are unable to obtain the beneficiary's written declaration, so long as the company discloses that option to the beneficiary on the payment selection form. That provision was supported by the Association of California Life & Health Insurance Companies (Best's News Service, Oct. 6, 2011). S.B. 621 prohibits the insurance commissioner from approving disability insurance policies that contain a discretionary clause (Best's News Service, Sept. 13, 2011). S.B. 684 requires workers' compensation insurers to provide a written disclosure to California employers that it intends to include provisions in contracts to allow disputes to be arbitrated or resolved outside California or under another state's laws. That bill also requires disputes to be resolved under California law, unless the employer explicitly agrees otherwise. S.B. 684 applies to workers' compensation policies issued or renewed on or after July 1 (Best's News Service, Oct. 10, 2011).urn:uuid:a2669001-21eb-4be8-b837-721f0802d81bLocal Independent Agent Selected to Offer The Hartford’s AARP Insurance Program NEWS RELEASE Media Contact: Laurie Cordero 530-626-2533 lcordero@atwoodins.com Local Independent Agent Selected to Offer The Hartford’s AARP Insurance Program After meeting several social responsibility and business requirements, ISU ...Tue, 20 Sep 2011 14:29:09 -0500NEWS RELEASE Media Contact: Laurie Cordero 530-626-2533 lcordero@atwoodins.com Local Independent Agent Selected to Offer The Hartford’s AARP Insurance Program After meeting several social responsibility and business requirements, ISU Insurance Services - Atwood Agency was authorized to now offer the popular insurance program in El Dorado County. Placerville, CA 95667 – The Hartford Financial Services Group, Inc., (NYSE: HIG) announced today that it is making its award-winning AARP®-branded auto insurance program available through ISU Insurance Services - Atwood Agency in Placerville. ISU Insurance Services - Atwood Agency was chosen after satisfying a number of eligibility requirements, which included: demonstrating a commitment to community service; meeting a high-level of business and ethics standards; and completing a training program designed to highlight the needs of the 50+ population. “For 25 years, the industry-leading AARP-branded auto insurance program from The Hartford has been extremely popular,” said Kathy Bromage, vice president, The Hartford. “Much of the success of this program is due to innovative product features and a commitment to truly understand and support our customers. We are thrilled to now be able to offer these benefits with our independent agent partners.” According to research from The Hartford, the majority of AARP members prefer the advice and counsel of a local agent when making decisions about their insurance. Based on this research and strong customer demand, The Hartford is offering the AARP-branded auto insurance program through select, authorized independent agents. These products were previously only available from The Hartford by phone, the Internet and by mail. The AARP-branded auto insurance program is designed in consultation with The Hartford Advance 50 Team, which helps to tailor our products and services specifically to the interests and needs of Baby Boomers and older adults. Other unique hallmarks of the program include: • Lifetime continuation agreement – assures that the customer’s insurance policy will not be dropped as long as a few simple requirements are met. • RecoverCare – helps customers pay for assistance with daily errands and responsibilities, like cooking, cleaning, shopping, dog walking, transportation and yard work if they are injured in an auto accident. • Standard 12-month rate protection versus the traditional six month policies offered by most companies. About ISU Insurance Services - Atwood Agency Since 1919, ISU - Atwood Agency has provided auto, home, life, health, and business insurance to El Dorado County. ISU - Atwood Agency is locally owned and operated. We currently represent over 350 insurance companies to find our clients the best coverage and rates. About The Hartford Celebrating nearly 200 years, The Hartford (NYSE: HIG) is an insurance-based financial services company that serves households, businesses and employees by helping to protect their assets and income from risks, and by managing wealth and retirement needs. A Fortune 500 company, The Hartford is recognized widely for its service expertise and as one of the world’s most ethical companies. More information on the company and its financial performance is available at www.thehartford.com. About AARP Financial, Inc. In 2005, AARP Services founded AARP Financial Inc., a wholly-owned taxable subsidiary that manages the provider relationships for and performs quality control oversight for the financial products that carry the AARP name, including credit cards, auto and home, mobile home and motorcycle insurance, and life insurance and annuities. AARP Financial also provides access to proprietary investment products and services, including mutual funds and financial guidance, designed to meet the needs of investors at any life stage. About AARP AARP is a nonprofit, nonpartisan membership organization that helps people 50+ have independence, choice and control in ways that are beneficial and affordable to them and society as a whole. AARP does not endorse candidates for public office or make contributions to either political campaigns or candidates. We produce AARP The Magazine, the definitive voice for 50+ Americans and the world's largest-circulation magazine with over 34.5 million readers; AARP Bulletin, the go-to news source for AARP's 40 million members and Americans 50+; AARP Segunda Juventud, the only bilingual U.S. publication dedicated exclusively to the 50+ Hispanic community; and our website, AARP.org. AARP Foundation is an affiliated charity that provides security, protection, and empowerment to older persons in need with support from thousands of volunteers, donors, and sponsors. We have staffed offices in all 50 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands. Some of the statements in this release may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of1995. We caution investors that these forward-looking statements are not guarantees of future performance, and actual results may differ materially. Investors should consider the important risks and uncertainties that may cause actual results to differ. These important risks and uncertainties include those discussed in our Quarterly Reports on Form 10-Q, our 2008 Annual Report on Form 10-K and the other filings we make with the Securities and Exchange Commission. We assume no obligation to update this release, which speaks as of the date issued. PR-AARP-1