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While cheaper Obamacare options available for some Ohioans, rates rise for others

“Overall, Ohioans who have Obamacare plans will see premium decreases averaging 7.7 percent for health-insurance in 2020, according to the state Insurance Department” writes The Plain Dealer for cleveland.com. People can enroll in exchange plans using the federal site www.healthcare.gov or CuidadoDeSalud.gov or by calling the national hotline at 1-800-318-2596.CLEVELAND, Ohio – Ohioans with health-insurance coverage on the federal exchange are expected to have lower premiums in 2020, according to the Ohio Department of Insurance.Because Ohio uses the federal exchange instead of a state-based marketplace, insurers have to submit rate…

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Vouch, a startup that provides insurance for other startups, raises $24.5 million from Ribbit Capital and Silicon Valley Bank in first outside financing round

“According to Hodges, business insurance is one of those pesky things startups need even if the company is essentially “two people in a garage.”” writes Megan Hernbroth for businessinsider.com. For Sam Hodges, the CEO and cofounder of Vouch, the need for startup insurance became apparent during his 15-year tenure as an investor and startup founder.”Folks don’t realize that insurance is a gating item to do what you need to do in business,” Hodges told Business Insider. Source: businessinsider.com

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GM switches health insurance costs to union for striking workers; talks continue

“BOWLING GREEN, Ky. (Reuters) – General Motors Co shifted health insurance costs for its striking workers to the United Auto Workers union as its members walked the picket line for the second day on Tuesday” writes Midwest Communications Inc for 95kqds.com. Meanwhile, GM said coverage for the striking workers’ health insurance reverted to the union, which unsuccessfully sought to have the No. 1 U.S. automaker cover those costs through the end of the month. Source: 95kqds.com

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Collections agency ignores proof that debt was paid. What happens next?

“Knowing this was a mistake, the Junices contacted the original collections agency and got written proof that the debt was satisfied” writes Karin Price Mueller for nj.com. A month later, in July, they received a collections notice from a collections agency, Amerifinancial Solutions, requesting a payment of $782.80.What you can do If you receive a bill from a collections agency, know your rights.A few months later, in April, Holly received another collections notice, this one saying the debt was placed with Commonwealth Financial Systems by Pendrick Capital Partners – another…

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PG&E reaches $11-billion deal with California wildfire insurers

“PG&E Corp. and a group of insurers announced Friday they have reached an $11-billion settlement to cover most of the claims from wildfires in California in 2017 and 2018” writes Scott Deveau for latimes.com. The insurers said in a separate statement that the settlement is well below the $20 billion the insurance companies had sought in Bankruptcy Court.On Monday, PG&E Corp. — the parent of Pacific Gas & Electric — released a plan to offer nearly $18 billion to wildfire victims, insurance companies and cities and public entities in California…

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PG&E reaches $11B deal with California wildfire insurers

“PG&E Corp. on Monday released a plan to offer nearly $18 billion to wildfire victims, insurance companies and cities and public entities in California that battled wildfires sparked by its electrical equipment” writes Associated Press for nypost.com. The utility said in a statement the tentative agreement covers 85 percent of the insurance claims from fires that included the one that decimated the town of Paradise and killed 86 people.AN FRANCISCO — Pacific Gas & Electric and a group of insurers announced Friday they reached an $11 billion settlement to cover…

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‘How are we going to pay for it?’: Biden confronts Warren and Sanders on their big plans

“Democratic presidential front-runner Joe Biden put the pressure on his fellow candidates about their proposed healthcare plans during Thursday night’s debate in Houston” reports washingtonexaminer.com. Biden asked of the candidates as they enthusiastically touted the benefits of a single-payer health insurance system. Source: washingtonexaminer.com

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Health-insurance premiums on state exchange will fall next year, but out-of-pocket costs are still rising

“In the meantime, Washington residents who buy health insurance on the state exchange can expect to see higher deductibles” writes Seattle Times Business for seattletimes.com. Washington residents who buy their health insurance on the state health-care exchange got both kinds of news Thursday.In 2020, the cap on out-of-pocket costs, which includes deductibles and co-payments among other costs, can be as high as $8,200 per person, Marquis said.The good: After five years of sharp increases, premiums for most health insurance offered through Washington Healthplanfinder will fall by an average of 3.27%…

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Markets News Stocks 

How a health insurance seller run by the former CEO of Playboy became the hottest stock on Wall Street

“The health law created new federal and state-run markets for health insurance plans, taking away much of eHealth’s business” writes Lydia Ramsey for businessinsider.com. About a third of people on Medicare are enrolled in private Medicare Advantage health plans.Just 29,698 people used eHealth to buy individual health insurance plans by the end of 2018. Source: businessinsider.com

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