When ObamaCare was sold to the American people all the right things were said. For example, people were told that if you like your current insurance policy you would be able to keep it. But now that the law is being implemented the news is not all that rosy in every corner.
A large entertainment company is reportedly ending health care coverage for part time workers effective the end of this year. It is reported that such an arrangement is not allowed under ObamaCare.
Another news site reported more than a few businesses are trimming staff in order to meet the 50 person cut off so they do not have to provide health care to employees. Or, some businesses are reportedly cutting hours so employees only qualify as part time.
Oregon’s insurance commmssioner (reported by one news site) stated that he expects health insurance premiums to rise by 30%. Imagine the future costs when this thing is in full effect? For young people this may be a hard pill to swallow as they helped drive the re-election of the President. Obamacare was promoted as a way to reduce overall premiums, not increase them. It appears the new law will raise health insurance premiums and affect the employment of many.
Insurance Fraud on the Rise
Auto and Homeowner Insurance carriers are no stranger to fraud. It happens by the hundreds of millions and affects the auto and homeowner insurance premiums of every insurance-paying-American.
The new code word for fraud is “Questionable Claims”.
2012 appears to be a record for fraud…..er questionable claims, with California setting the standard for questionable claims with over 20,000. The next highest state was Florida with half of California’s record setting number with a tad over 10,000.
North Dakota, South Dakota and Wyoming had the fewest questionable claims, which is not that surprising considering the fewer residents who live in those states.
Questionable jewelry theft jumped by 86%. Suspected driver-enhanced hail damaged rose by 35%.
When we hear horror stories about insurance companies not paying claims, my experience is that insurance companies do a pretty good job. Certainly there were some awful stories that came out of the massive hurricane and storms. But on a day to day, routine type claims my experience shows they do a good job considering they handle thousands and thousands of claims every year.
One issue with insurance companies that I can raise – their claims staff are usually over-burdened and over-worked. It’s not uncommon for claims reps to handle thirty, forty or fifty claims at once – juggling as best they can of course.
Have a claim? My advice – treat your claims rep with respect and courtesy. Take notes all along the way of course as you should anyway. But treat them well and odds are your claim will go better – that’s just my take.