Post Content

Joseph G. Murphy, Commissioner of InsurancePosted by:
Commissioner Joseph G. Murphy, Division of Insurance

When insurance benefits broker Steve Walsh meets with business clients to discuss changes in their health insurance premiums, he knows the decision goes beyond how much a company should pay for health coverage.

At today’s hearing on small-business health insurance costs in Boston, Walsh testified about one of his clients, a country club trying to cover a 36 percent increase in costs. The owner feels he is barely getting by financially, and was considering raising membership rates in order to cover the increase in health premiums. However, the owner knows many of his members are in a difficult spot in terms of their renewals, and an unexpected increase may cause them to drop their membership. So he decided to not raise membership rates, and hope for the best.

Boston hearing This is the kind of story we hear consistently, about businesses being faced with difficult decisions on their future because of increasing health insurance premiums. Also at today’s hearing, we heard from Jude Silber (in photo left, with Jon Hurst of the Retailers Association of Massachusetts), who runs two businesses in Harvard Square, Motto and MDF. She said, “I can’t do it anymore,” as she discussed trying to keep up with health insurance increases for her seven employees.

We also heard today from a number of trade organizations and other stakeholders in our state’s health insurance market, including one carrier. While we heard some different viewpoints on how to go about fixing health insurance, everyone acknowledges that changes have to be made.

Last month, Governor Patrick unveiled his plan to support small businesses and create jobs. Part of that plan includes reforming health insurance. The Governor has acknowledged that small businesses and families need relief from these big increases now, and we are hearing from all sides of the issue in these sessions that change is certainly needed.

Written By:

Recent Posts

Gift Card Tips posted on Nov 23

  Have you ever received a gift card as a present?  Do you know what fees are associated with that card? Do you know when it expires?  Do you know where to report if you have a problem?  Many consumers buy gift cards for others,   …Continue Reading Gift Card Tips

More than 6,600 Mass. consumers to receive refunds in mortgage lending settlement posted on Nov 20

The Massachusetts Division of Banks and 49 other state mortgage regulatory agencies have executed a Settlement Agreement and Consent Order with Prospect Mortgage, LLC. The California-based mortgage company is licensed in Massachusetts and wholly owned by Sterling Partners, a private equity firm. A multi-state examination   …Continue Reading More than 6,600 Mass. consumers to receive refunds in mortgage lending settlement

Department of Public Utilities phone scam circulating in MA posted on Nov 19

  The Office of Consumer Affairs & Business Regulation along with The Department of Public Utilities would like to inform consumers of a phone scam that is affecting Massachusetts residents. Residents are receiving calls from a business that is claiming to be a solar developer,   …Continue Reading Department of Public Utilities phone scam circulating in MA