How to Find Insurance Agency for Sale
New York, New Jersey and Massachusetts are the latest states to consider allowing insurers to sell insurance through third-party sites.
A bill that would allow the sale of health insurance through these websites is now pending in the statehouse.
It would allow insurers to make bids on policies and make claims to help insurers with their costs, according to an analysis of the bill by the advocacy group Consumers Union.
The legislation, House Bill 3193, would also allow the states to set up exchanges.
The bill would also require insurers to collect and report all premium data to the state.
The Congressional Budget Office said the bill would lead to the closure of more than 200,000 people’s health insurance, according the New York Times.
Insurance companies in Massachusetts would be allowed to make offers to individuals on the state exchange, according state officials.
The Massachusetts Senate passed the bill on Monday with all 50 House members voting in favor of the measure.
The measure would allow companies to sell health insurance on the exchange and give insurers more flexibility to choose who they cover, said Rep. Joseph Vitale, the bill’s lead sponsor.
The insurance companies would have to comply with state law, including making claims to the health insurance company.
The state has about 8.7 million people, according an estimate from the Massachusetts Health Information Agency.
Insurance companies sell health plans on the marketplace, and consumers pay the premiums.
Insurers have been trying to sell their policies through the federal government’s healthcare exchange for years.
They have to have at least one insurer in each state and a federal government subsidy to participate in the program.
The federal government gave states the authority to set the exchanges in 2012, allowing insurers the ability to sell policies on the federally run health care exchange.
The state exchanges have not been fully operational yet.
States that allow insurance companies to make online offers, like Pennsylvania and Delaware, would be able to offer plans on their exchanges, and insurers could offer plans through third parties.
The companies would also have to submit claims for the premium, which would be shared with the state, according Toomey.
The states are not the only states to allow insurance providers to sell plans through the marketplace.
Maryland and Delaware have also passed legislation allowing insurers with at least three insurance companies in each of their states to sell on the exchanges.