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Iowa insurers get more time on new health law
Legal Business |
2011/07/24 08:27
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Iowa insurance companies have been given more time to comply with a new federal rule designed to curb insurers' profits.
The regulation that went into effect this year calls for insurance companies to spend at least 80 percent of premiums on medical care and quality assurance. For employer plans covering more than 50 people, the requirement is 85 cents. Insurers that fall short of the mark are required to issue their customers a rebate.
The U.S. Department of Health and Human Services told the state on Friday that Iowa insurers will be given have to reach the 80 percent mark by 2013, but will be required to meet interim goals until then, the Des Moines Register reported.
The Iowa Insurance Division had requested extra time to comply with the law, citing fears that insurers would leave the state in droves. Six pulled out of Iowa after the law was passed.
Steve Larsen, director of HHS' Center for Consumer Information and Oversight, said in a letter to the state that implementing the law in Iowa in 2011 could cause turmoil in the insurance market. So, he laid out a timetable for compliance that calls for Iowa insurers to spend 67 percent of premiums on medical care this year, 75 percent in 2012 and 80 percent in 2013.
Iowa insurance commissioner Susan Voss said she wasn't displeased by the decision. The state had sought even more time for companies to comply, but, "I don't think we'll see companies exit as a result of this," Voss said.
Of those particularly hard-hit by the law are insurers who sell individual policies because those premiums are more volatile. Employers or large groups can negotiate for better premiums, and the risk in those plans are spread among the group.
There are 56 insurance companies in Iowa that offer individual policies. Seven of those account for 95 percent of the market, with Wellmark holding onto almost 84 percent. Wellmark spent 92 percent of premiums on care but none of the state's other top insurers met the 80 percent standard in 2010.
Federal regulators said that had the law gone into effect this year, Iowa consumers would have received $6.5 million in rebates over three years.
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Biesecker named to NC investigations, court beats
Legal Business |
2011/07/12 09:25
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Michael Biesecker, an award-winning reporter and investigative journalist for The News & Observer of Raleigh, has been hired by The Associated Press to cover federal courts, investigations and politics in North Carolina.
Biesecker is a North Carolina native and has spent his 15-year-career in his home state. He worked at the Winston-Salem Journal in a variety of positions including as a columnist and reporter before going to work for The News & Observer in 2003. He has covered the state capital for the newspaper since 2009.
His work probing the failings of North Carolina's mental health care system in 2008 uncovered more than 80 questionable deaths in state mental hospitals. The newspaper's series "Mental Disorder: The Failure of Reform" led to new policies on how state facilities report deaths and monitor care. He has won numerous awards from the North Carolina Press Association, including for general news and for investigative reporting. In 2008, he was part of a team that won an Associated Press Managing Editors Association First Amendment Award for reporting on access to email written by public officials.
The appointment was announced Monday by South Editor Lisa Marie Pane, Chief of Bureau Michelle Williams and Carolinas News Editor Evan Berland.
"Biesecker has some serious reporting chops and we're looking forward to his using those to cover the vitally important federal courts beat and being involved in some important investigative projects," Pane said.
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N.Y. governor signs gay marriage into law
Legal Business |
2011/06/24 22:30
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Gov. Andrew Cuomo has signed New York's gay marriage bill, starting what is expected to be a crush of gay weddings starting in 30 days.
The Democratic governor signed the measure shortly before midnight Friday, following up on a promise to put his name on the legislation as soon as he received it rather than wait the usual 10 days to sign it for it to become law.
New York lawmakers narrowly voted to legalize same-sex marriage, handing activists a breakthrough victory in the state where the gay rights movement was born.
New York will become the sixth state where gay couples can wed and the biggest by far.
“We are leaders and we join other proud states that recognize our families and the battle will now go on in other states,” said Sen. Thomas Duane, a Democrat.
Gay rights advocates are hoping the vote will galvanize the movement around the country and help it regain momentum after an almost identical bill was defeated here in 2009 and similar measures failed in 2010 in New Jersey and this year in Maryland and Rhode Island.
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Court rules against Anna Nicole Smith's estate
Legal Business |
2011/06/22 22:30
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The Supreme Court has ruled against the estate of Anna Nicole Smith in its quest to capture some of the $1.6 billion estate left behind by her late Texas billionaire husband.
The high court on Thursday ruled that a bankruptcy court's decision to give the now-deceased Playmate $475 million from the estate of oil tycoon J. Howard Marshall was decided incorrectly.
Smith and Marshall were wed in 1994, and he died the next year.
His will left his estate to his son, E. Pierce Marshall, and nothing to Smith. A California bankruptcy court awarded Smith part of the estate, but the 9th U.S. Circuit Court of Appeal said that a bankruptcy court could not make a decision on an issue outside of bankruptcy law.
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Zelle Hofmann Voelbel & Mason LLP Announce Notice of Class Action Lawsuits and Settlements
Legal Business |
2011/06/20 08:24
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If You Bought Static Random Access Memory (SRAM) Between November 1, 1996 to December 31, 2006, Class Action Lawsuits and Settlements May Affect You
SRAM is used in many computers, smart phones, PDAs and other electronic devices
Para una notificacion en espanol, llamar o visitar nuestro website
A federal court certified a nationwide settlement class of individuals and companies that purchased SRAM indirectly from one or more Defendants (the "Settlement Class"). Defendants are corporations that indirectly sold SRAM to customers in the United States. For a full list of the defendants, visit the website below. The case is In Re Static Random Access Memory (SRAM) Antitrust Litigation, No. 4:07-md-1819 CW in the U.S. District Court for the Northern District of California.
What is the Class Action About?
Plaintiffs claim that the Defendants conspired to fix, raise, maintain or stabilize prices of SRAM in violation of antitrust, unfair competition and unjust enrichment laws, resulting in overcharges to customers who indirectly purchased SRAM. Defendants deny that they did anything wrong. The court has not decided who is right. Defendants Samsung Electronics Co., Ltd., Samsung Electronics America, Inc. and Samsung Semiconductor, Inc. and Defendant Cypress Semiconductor Corp. (the "Settling Defendants") have agreed to settle with Plaintiffs; they continue to deny liability, but settled to avoid litigation expense and risk.
Who's Included?
You are a member of the Settlement Class and could get benefits if you indirectly purchased SRAM from one of the Defendants in the United States during the period November 1, 1996 through December 31, 2006. SRAM is a memory part or module that is sold by itself or as a part in electronic devices.
What Does the Settlement Provide?
The Settling Defendants have agreed to pay a total of $15,900,000. Copies of the Settlement Agreements are available at the website below. In 2010, the Court approved settlements with other defendants that total $25,422,000 (the "2010 Settlements"); those settlements are now final and binding on the Settlement Class.
How Will the Money Be Distributed?
The total Settlement Fund from all settlements is $41,322,000. The Settlement Class includes indirect purchasers of SRAM that resold Defendants' SRAM ("Resellers"), as well as indirect purchasers of Defendants' SRAM that purchased it for their own use and not for resale ("End Users"). The Net Settlement Fund (the Settlement Fund minus court-approved costs, attorneys' fees and incentive awards), will be distributed as follows: (1) 36.7% of the Net Settlement Fund will be distributed to qualified Resellers through a court-approved claims process; and (2) 63.3% of the Net Settlement Fund will be distributed via a court-approved cy pres plan to non-profit charities for the benefit of End Users. The cy pres portion of the distribution plan is due to the high cost of processing claims and making direct cash distributions to many thousands of potential claimants relative to the average likely award to those claimants. Under the cy pres plan of distribution, payments will not be made to individual class members; instead, that portion of the Net Settlement Fund will be distributed to court-approved non-profit charities. Go to the website below to see the distribution plan details or the proposed list of non-profit charities. Unclaimed funds from the Reseller claims process, if any, will be added to the cy pres distribution. Class Counsel will request attorneys' fees in the amount of one-third of the Settlement Fund, reimbursement of their costs and expenses, and incentive payments for the court-appointed class representatives. The attorneys' fees application shall be filed by August 1, 2011, and will be posted on the case website.
Who Represents You?
The Court has appointed Zelle Hofmann Voelbel & Mason LLP as Class Counsel. You do not have to pay these lawyers to represent you. You may hire your own attorney, if you wish; however, you will be responsible for your own attorney's fees and expenses.
What Are Your Options?
If you do not want to be a part of the Settlement Class or legally bound by the Samsung and Cypress settlements, you must exclude yourself from the Settlement Class. You may not exclude yourself from the 2010 Settlements. To exclude yourself from the Settlement Class, you must do so in writing, postmarked no later than August 25, 2011.
The Court has scheduled a Fairness Hearing for October 6, 2011 and will consider whether to approve the proposed settlements, distribution plan and requests for attorneys' fees, costs and incentive payments. This date may change without further notice. Any new hearing date or time will be posted on the website below.
You may object to or comment on any part of the proposed settlement. Your objection/comment must be filed with the Court by August 25, 2011. You may also request in writing to speak at the Final Approval Hearing.
If you are a Reseller and want to make a claim, or for more information, you may 1) write to SRAM Indirect Litigation, P.O. Box 8090, San Rafael, CA 94912, 2) call the toll free phone number 1-866-252-7551, or 3) visit the website www.indirectsramcase.com
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