Insurance carriers have submitted proposed rates to the Department of Insurance (DOI) for the 2019 individual and small group health insurance markets.
The individual market preliminary filings confirm two insurers will serve the Kentucky market. Anthem Health Plans of Kentucky (Anthem) has requested an average rate increase of 3.5 percent across 13 different plan offerings. Anthem has also proposed an expansion of its service area to cover an additional 17 counties over its 2018 offering—a move that will provide additional options for health coverage in those counties. CareSource has also requested an average rate increase of 19.4 percent for its 12 different plan offerings. In 2019, CareSource expects to offer plans in the same 61 counties it presently serves. Continue reading Kentucky Insurers Submit Preliminary Insurance Rates→
Unemployment rates fell in 117 Kentucky counties between May 2017 and May 2018, rose in Owen and Spencer counties and remained the same in Oldham County, according to the Kentucky Center for Statistics (KYSTATS), an agency of the Kentucky Education and Workforce Development Cabinet.
Woodford County recorded the lowest jobless rate in the Commonwealth at 2.9 percent. It was followed by Campbell and Scott counties, 3.1 percent each; Boone and Fayette counties, 3.2 percent each; Allen, Kenton and Warren counties, 3.3 percent each; and Marion and Shelby counties, 3.4 percent each. Continue reading State releases county unemployment data for May 2018→
Attorney General Andy Beshear is urging state officials and board members to stop investing state taxpayer dollars and retirement contributions in companies that have profited from the opioid crisis.
Beshear sent letters Tuesday to the Kentucky Retirement Systems (KRS) and the Kentucky Teachers’ Retirement System (KTRS), urging the agencies to stop investing funds in the six opioid manufactures and distributors that his office is currently suing over their role in fueling the state’s opioid epidemic. Similar letters will be sent to other state agencies and quasi-state agencies that have invested in opioid companies.
To better serve, attract and develop innovators and startups, Kentucky will deploy a new regional approach to developing high-tech, high-potential-growth businesses, while continuing to assist small businesses seeking support.
KY Innovation, the state’s recently launched initiative supporting businesses founders and growing companies, will soon begin implementing Regional Innovation for Startups and Entrepreneurs (RISE), a strategy that unites each area’s most powerful economic drivers, prioritizes commercialization and promotes rapid scaling. The state’s outgoing model for supporting startups, the Kentucky Innovation Network, will dissolve July 1.
One year ago, the Kentucky State Police announced a change to its hiring policy that would allow trooper cadet applicants, who did not have 60 hours of college credit, to earn those hours while attending the training academy. This legislative change is already paying dividends as nine cadets in the current academy class have earned an Associate’s Degree in General Occupational and Technical Studies from the Bluegrass Community and Technical College. One of those cadets has achieved the distinction of being Cadet Class #96 Valedictorian. Had it not been for this new program, these nine individuals would not have had the opportunity to apply for the academy. Continue reading Nine KSP Trooper Cadets Earn Degrees in New College Credit Program→
Throughout the Commonwealth, Kentucky Transportation Cabinet (KYTC) Adopt-a-Highway (AAH) volunteers will participate in the scheduled 2018 Summer Scrub cleanup between Monday, June 18, and Sunday, June 24. Volunteer groups are eligible to submit their Adopt-a-Highway projects for entry in Gov. Matt Bevin’s Beautify the Bluegrass contest, sponsored by Kentucky Living.
In recognition of World Elder Abuse Awareness Day (WEAAD) on Friday, June 15, the Kentucky Adult Protective Services (APS) Branch asks all Kentuckians to help guard against elder abuse. APS, within the Cabinet for Health and Family Services (CHFS), is the state agency responsible for investigating and providing protective services to victims of abuse, neglect or exploitation.
Attorney General Andy Beshear today filed suit against Walgreens for its dual role as distributor and pharmacy in allegedly failing to legally monitor its own operations that shipped and dispensed large quantities of opioids through its more than 70 locations statewide.
Beshear said the company’s actions flooded Kentucky communities with dangerous prescription drugs, directly contributing to the state’s drug epidemic.
Since taking office, Beshear has been working to hold opioid manufacturers and distributors accountable and to find workable solutions to the drug epidemic.
Kentucky’s seasonally adjusted preliminary May 2018 unemployment rate was 4.1 percent, according to the Kentucky Center for Statistics (KYSTATS), an agency of the Kentucky Education and Workforce Development Cabinet. The unemployment rate for May 2018 was up from the 4 percent reported for April 2018.
With a renewed focus on safety and protecting critical transportation assets, the Kentucky Transportation Cabinet (KYTC) is launching Bridging Kentucky – a statewide bridge program that will rehabilitate or replace more than 1,000 bridges.
Bridging Kentucky is one of the nation’s most aggressive bridge rehabilitation and replacement programs. It represents a transformational commitment by the Cabinet to prioritize investments to improve the safety and soundness of bridges across the Commonwealth. Over the first two years of the six-year program alone, the Bridging Kentucky team will begin rehabilitating or replacing nearly 400 bridges. Continue reading Bridging Kentucky Program to Restore 1,000 Bridges Statewide→
State Representatives Joni Jenkins of Shively and Angie Hatton of Whitesburg will serve on the General Assembly’s new Child Welfare and Oversight Committee, House Democratic Leader Rocky Adkins announced today.
Opposing a new policy limiting protestors’ access to the state Capitol, House Democratic leaders announced today they were joining state Reps. Attica Scott and George A. Brown, Jr.’s request asking for an Attorney General’s opinion on the legality of such a change.
On June 12, 2018, at approximately 1:21 p.m., the Kentucky State Police Electronic Crime Branch arrested Larry Schaub, 45, on a charges relating to possession of matter portraying a sex performance by a minor.
The Department of Financial Institutions (DFI) applauds U.S. Senate Bill 2155, the “Economic Growth, Regulatory Relief and Consumer Protection Act,” which provides much needed regulatory relief to the financial services industry in Kentucky.
The Federal Reserve Bank of St. Louis (Fed) just released a report on compliance costs that estimates the smallest community banks in Kentucky dedicate an equivalent of 20 percent of their workforce to comply with regulations that govern how they operate. Larger community banks–with assets between $1 billion and $10 billion–may be dedicating an equivalent of 10 percent of their workforce. For all community banks currently headquartered in the state, the collective cost is estimated to exceed $100 million annually.
Attorney General Andy Beshear is getting plenty of practice for his next campaign as he travels across the Commonwealth to spread fear and misinformation about the new pension reform bill (SB 151), designed to save Kentucky’s public pension system.
The Office of State Budget Director reported today that May’s General Fund receipts fell 4.9 percent compared to May of last year, a decrease of $36.5 million. Total revenues for the month were $703.1 million, compared to $739.6 million during May 2017. General Fund receipts have now grown 3.4 percent for the first eleven months of FY18.
The official budget estimate calls for 2.3 percent revenue growth for the entire fiscal year. To meet the estimate, receipts can decline 7.6 percent in the final month of the fiscal year. The most recent internal revenue estimate predicts revenues will grow 3.4 percent for the year.
At its Board of Trustees meeting on June 7, 2018, the Kentucky Retirement Systems (KRS) Board of Trustees voted unanimously to approve the expenditure of up to $1.5 million to provide the needed resources in its defense against a suit brought by Bay Hills Capital Management, LLC.
The Kentucky Department of Insurance (DOI) has announced the approval of the National Council on Compensation Insurance’s (NCCI) advisory loss cost filing in response to Kentucky House Bill 2, which was signed into law earlier this year.