Kreidler alerts consumers to new credit scoring protections during coronavirus pandemic

05/05/2020

OLYMPIA, Wash. – Insurance Commissioner Mike Kreidler is reminding consumers of a new federal protection that applies to how insurance companies use a consumer’s credit history.

The federal Coronavirus Aid, Relief and Economic Security (CARES) Act amends the Fair Credit Reporting Act and protects consumers during the coronavirus pandemic from any negative credit reporting as long as their accounts were in good standing before the pandemic started. 

This protection also applies to how insurers use credit history to calculate how much consumers pay for auto and…

Kreidler extends emergency order 30 days for waiving deductibles and copays for coronavirus testing

05/01/2020

OLYMPIA, Wash. – Insurance Commissioner Mike Kreidler extended his emergency order to Washington state health insurers for 30 days, requiring them to waive copays and deductibles for any consumer requiring testing for coronavirus (COVID-19).

Insurers also must continue: 

Allowing a one-time early refill for prescription drugs. Suspending any prior authorization requirement for treatment or testing of COVID-19.

In addition, if an insurer does not have enough medical providers in its network to provide testing or treatment for COVID-19, it must allow enrollees to be…

Kreidler: State health insurers due $106 million from Supreme Court ruling

04/30/2020

OLYMPIA, Wash. – Insurance Commissioner Mike Kreidler anticipates that a U.S. Supreme Court ruling this week will provide $106 million to health insurers operating in Washington and could possibly lead to premium relief for consumers who buy coverage on the individual health insurance market. 

The 8-1 ruling on April 27 mandates the federal government pay participating health insurers nationwide a combined $12 billion. 

The Affordable Care Act (ACA) created the Risk-Corridor Program to stabilize health premiums and provide a financial backstop for insurers willing…

Kreidler extends deadline for property insurance claims with building repairs

04/30/2020

OLYMPIA, Wash. – Insurance Commissioner Mike Kreidler filed an emergency order that requires insurers to extend deadlines relating to withheld depreciation for policyholders who are in the process of completing home or building repairs as part of a property loss claim under a replacement cost policy.  

The deadline is extended by 60 days after June 26, 2020, or after the expiration of Gov. Jay Inslee’s Stay Home, Stay Healthy order, whichever comes first. 

Without the extension, some policyholders in Washington could have been forced to accept a depreciated…