Can I Voice My Concerns Regarding Insurance Rate Increases?

Get ready Alabama residents as you may be given the opportunity to speak your mind on the upcoming rate increases Blue Cross and Blue Shield of Alabama (BCBS) has planned to implement. Insurance claims lawyers nearby in Birmingham, Alabama have come across some recent news highlighted on noting that your health insurance company wants “to raise rates more than 10 percent next year,” and that’s not all to come. While many individuals are still lucky to receive their insurance coverage through their employers, others have been forced to purchase their policies through the healthcare marketplace, which has been developed by Obamacare.

As many have finally adjusted to this change in the way health insurance is provided and purchased, it appears there is yet another change on the horizon, except consumers now have the ability to speak out on it, and not just through their own personal rants where only friends and family can see.

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Although these rate increase can’t be rejected, the AL Department of Insurance can verify if they are justified.

Health insurance claims attorneys in Birmingham point out that while each state was expected to devise some sort of plan to review any rate increases these insurance companies implemented, “Alabama was one of six states that didn’t create an effective rate review program.” While the Alabama Department of Insurance has the ability to review these rate increases and provide their input on them, they don’t necessarily have the power to reject them.

According to Cynthia Cox who works as the associate director for the Kaiser Family Foundation, this is “good news for Alabama consumers” as they will now be able to comment on this increase and truly voice their concerns where they can be heard. Denied insurance claims lawyers in Alabama also point out that these “regulators can try to determine whether insurance costs are justified or not.”

As of 2017, Blue Cross and Blue Shield of Alabama will be the only company to provide consumers with health insurance coverage as UnitedHealth and Humana “announced earlier this year they would not offer plans in Alabama.”

Birmingham, Alabama health insurance claims attorneys note that BCBC must provide any rate increases they plan to impose on consumers to the Department of Insurance by July 15. Once they receive this, they have 30 days to review these increases, and then follow up with announcing their findings.

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With the expected increase in insurance rates, be prepared to voice your concerns through the Department of Insurance.

Unfortunately, it is mandatory to purchase many types of insurance coverage, including auto insurance in the event a car or truck accident arises. And while there isn’t much that can be done to avoid these rate increases, the Department of Insurance is working to allow consumers to voice their opinions and feelings regarding the matter that may result in the insurance giant to rethink the burden they are placing on these hard-working citizens.

If enough people come forward and also have the Department of Insurance backing them up, local Birmingham, Alabama insurance claims lawyers believe there is a possibility the decisions may be overturned, or even reconsidered. For now, consumers can keep current with insurance news simply by visiting the Alabama Department of Insurance website.

By | 3:31 pm | Categories: Insurance Claims News | 0 Comments

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