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The Federal Housing Administration plans on Sept. 7 to raise the cost of loans backed by the agency in an effort to strengthen its cash-strapped balance sheet.
The move follows Senate approval this week of a bill to allow the FHA to nearly triple the annual fees it charges borrowers, though the FHA plans more modest increases at first. The House had approved its version and President Barack Obama is expected to sign the bill this month. Get the full story »
For the fourth consecutive year, the state’s largest insurer of medical liability for doctors said it will not increase the base premium rates on policies.
ISMIE Mutual Insurance Co. credited its decision to a stable “lawsuit environment nurtured by Illinois’ 2005 medical litigation reform law, but cautioned that resulting market improvements could be at serious future jeopardy.” Get the full story »
People who buy their own health insurance have been hit lately with premium hikes that far exceed increases in premiums for employer-sponsored coverage, according to a new survey from the Kaiser Family Foundation.
The nonprofit foundation, which is separate from health insurer Kaiser Permanente, said recent premium hikes requested by insurers for individual coverage averaged 20 percent. Some customers were able to switch plans and pay less, so people paying on their own wound up paying 13 percent more on average. Get the full story »
