Deadline Nearing to Avoid Lapse in Health Coverage
The Louisiana Department of Insurance (LDI) is reminding people who don’t have health insurance coverage lined up for the new year that time is running out to choose a plan. The deadline for electing coverage is December 15 for consumers needing to be covered on January 1; this includes policyholders of the Louisiana Health Cooperative and anyone looking to change their coverage for 2016.
Open Enrollment ends January 31 but you must select a health insurance plan by December 15 in order to have coverage for January 1. As the penalties for not having insurance coverage have increased, it’s important to stay on top of the upcoming deadlines.
The Louisiana Health Cooperative (LAHC), a health insurer formed under the provisions of the Affordable Care Act, will not offer coverage in 2016. All LAHC policies for individuals will end December 31, 2015.
The Health Insurance Marketplace allows consumers to compare health insurance plans based on factors including providers, services and prices. Licensed agents can assist in finding plans both on and off the Marketplace. A list of agents can be found on the Louisiana Department of Insurance website www.ldi.la.gov/findagent. The LDI’s Office of Consumer Advocacy can also assist consumers with accessing resources.
Tick-Tock Goes the Rebate Clock
The end of 2015 is quickly approaching. As the year comes to an end, so will a chance to claim nearly $34 million in property insurance rebates from 2011 left on the table by Louisiana policyholders.
If you pay property insurance in Louisiana, you are entitled to claim the Louisiana Citizens assessment rebate. Currently policyholders can claim the rebate for 2011–2015 and $195 million, or 62 percent, of the funds available for those years remains unclaimed. However, the opportunity to claim rebates for 2011 will expire on December 31.
What is the Citizens Assessment Rebate?
The Louisiana Citizens Property Insurance Corporation (Citizens) assessment is part of your property insurance bill each year.
The assessment is payment for bonds issued by Citizens to cover the large amount of damages caused by Hurricane Katrina. Following the passage of Act No. 125 of the 2015 Legislative Session, 72 percent is refundable. The dollar amount of the assessment can be found on the declaration page of your insurance policy.
How do I claim my rebate?
There are three ways to request your rebate: online, by paper and as a tax credit on your state income tax return. No matter the option you choose to claim the rebate, you will need to attach a copy of your insurance policy’s declaration page which indicates that the assessment has been paid.
For more information on claiming your rebate, visit www.ldi.la.gov/CitizensRebate.
Car Thieves Don't Take Holidays
How do you plan to spend your Christmas and New Year’s holidays? Like most, you probably plan to take the time to visit loved ones, exchange gifts and make resolutions to better yourself in the New Year. Maybe you plan on using this time as a chance to escape to a more tropical locale. Or maybe you plan on spending this wonderful time of the year filing a claim with your insurer after your vehicle has been stolen or burglarized.
Ok… maybe no one PLANS on spending their holiday season getting their car stolen. But unfortunately it does happen. According to the National Insurance Crime Bureau (NICB), New Year’s Day ranked second among holiday’s with 2,011 cars stolen. That’s one vehicle stolen every 43 seconds.
Here’s a complete breakdown of the holiday auto theft rankings:
Car thieves don’t take holidays. To help protect your family and prevent auto theft this holiday season, here are some tips from the Louisiana Automobile Theft and Insurance Fraud Prevention Authority (LATIFPA).
- Always remove your keys from the ignition
- Lock your doors and close all windows
- Never hide a key in your car
- Be sure to park in well-lit, high-traffic areas
- Always keep valuables and gifts/presents out of plain sight
For more tips, visit the LATIFPA website at www.ldi.la.gov/LATIFPA.
Business Building Blocks Producer Workshop
Attention: Agents & Producers. Looking to earn extra Continuing Education credits? The Division of Diversity & Opportunity will host a free workshop for agents on January 20, 2016 from 9 a.m. to noon. The event will take place in the Louisiana Department of Insurance Plaza Hearing Room and will feature panel discussions on agent licensing and how to grow your business as well as a one hour ethics course. For more information on the upcoming workshop and registration details, click here.
Stay Connected with the LDI
Keep up with tips and news from the LDI, including newsletters, press releases and videos, by connecting with us through social media.