Latest news with #OklahomaInsuranceDepartment
Yahoo
21-03-2025
- Health
- Yahoo
Oklahomans using ACA health insurance plans could see higher premiums, official warns
Oklahomans using health insurance through the Affordable Care Act could see rising premiums if federal subsidies aren't extended, the state's insurance commissioner warned. (Getty images) (This image cannot be republished without a Getty subscription.) OKLAHOMA CITY — Oklahoma's top insurance official warned that health insurance premiums could see 'substantial increases' next year if federal subsidies for the Affordable Care Act aren't extended. 'A permanent extension of the $338 billion in enhanced federal health insurance subsidies is looking more unlikely,' said Glen Mulready, commissioner of the Oklahoma Insurance Department, in a statement. 'While there might be other potential solutions considered by Congress this year, Oklahoma's leaders and citizens need to be prepared for the consequences of these subsidies ending with significant changes in health insurance costs anticipated.' He said the increases in premiums for the 300,000 Oklahomans who rely on the ACA Marketplace for health insurance could begin in 2026 if federal enhanced Advanced Premium Tax Credits are not extended by Dec. 31. Oklahoma's enrollment in ACA plans increased 75% because of these subsidies with many who are enrolled pay $0 monthly for coverage while the average costs for Oklahoma enrollees is $58 per month for a benchmark silver plan, the second-lowest priced plan. 'We anticipate that the average cost of a benchmark silver plan in Oklahoma will increase by approximately 65%, jumping from $58 per month to $153 per month in 2026 if the subsidies expire as scheduled,' explained Commissioner Mulready. This change is expected nationwide. The higher premium costs could lead to consumers moving to Medicaid or becoming uninsured, according to a news release. Mulready said while he hopes Congress can find a compromise to lessen the impact, the Oklahoma Insurance Department will continue monitoring the situation. 'Oklahomans and my fellow elected leaders must understand the potential impact of the expiration of these federal subsidies,' he said in a statement. Members of Oklahoma's federal delegation, Sen. Tom Cole, R-Okla., and Rep. Stephanie Bice, R-Okla., did not return requests for comment by the time of publication. SUBSCRIBE: GET THE MORNING HEADLINES DELIVERED TO YOUR INBOX SUPPORT: YOU MAKE OUR WORK POSSIBLE
Yahoo
20-03-2025
- Climate
- Yahoo
OSU student who helped hurricane victims devastated by wildfires
STILLWATER, Okla. (KFOR) – A young Stillwater man, who took his fraternity brothers to help hurricane victims, now finds himself in a devastating situation after Friday's wildfires. 'My heart just kind of sank. It was like, 'All this work for nothing,'' said Corbin Lacy. Lacy had an impressive lawn care operation in Stillwater, at just 20-years-old. He has a team of employees and had high-end commercial equipment, including trailers, commercial mowers, and a leaf loader. 'You have a big vacuum and you suck up the leaves,' said Lacy. LOCAL NEWS: High fire danger predicted in Oklahoma Wednesday The equipment was stored in a metal building. Lacy said it was all worth around $150,000. 'A lot of money invested into it,' said Lacy. However, the building was located just off Highway 51, where wildfires burned through Friday. Lacy has a helping heart. Last Fall, he and his Farmhouse fraternity brothers traveled to Butler, Tennessee after Hurricane Helene. He had hoped to use his equipment to once again help around town, but his dad called Saturday with the bad news. 'He was like, 'You need to get here now.' And I was like, 'Where?' And he was like, 'At the shop. It's burned down.' I thought he was kidding,' said Lacy. It was definitely no joke. To power his machines, Lacy houses a lot of flammable material in the shed. He needs them for his job. However, this combined with wildfires can spell disaster. LOCAL NEWS: Oklahoma Insurance Department offering tips to residents impacted by wildfires 'There's a couple of mowers that got taken out,' he said pointing to the damage. 'The weed-eaters are just a straight rod, they look like a piece of rebar. Those were really good push mowers.' He has not been able to salvage anything. Lacy does have insurance. While he's working through that long process, friends are helping him get by. 'It could've been a lot worse. There are people without their homes,' said Lacy. You can Venmo Lacy (corbin-lacy) or Paypal (@corbinlacy) with the memo 'Fire donation.' You can also drop off cash or check donations to Blush Beauty Bar & Boutique at 715 S Main St, Stillwater, OK 74074. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
19-03-2025
- Climate
- Yahoo
Payne County releases plan to assist victims of wildfires
STILLWATER, Okla. (KFOR) — The process of starting over is just beginning for hundreds of Oklahomans who lost everything in last Friday's wildfire outbreak. Leaders in at least one county are trying to ease some of the burden. In hard-hit Payne County, officials have released their game plan when looking to save affected property owners money, as well as big headaches in the future. 'It's important to let people know that there are tools available to them,' Glenna Craig, Payne County Clerk said. Oklahoma Insurance Department offering tips to residents impacted by wildfires Tons of destruction and devastation can be seen across Payne County, with dozens of homes, campers, and thousands of acres of property reduced to ashes. Now, the county wants to help those starting over. 'This situation is unique because the statutes of the state of Oklahoma give us the ability to come into that same physical year and remove the tax implication,' said Jason Gomez, Payne County Assessor. If you have damage, no matter how big or small, the Payne County Assessor's Office needs to hear from you. 'We may take off a value of, say, a pole barn that it spared your house, but it took out your pole barn, that pole barn as a taxable improvement,' said Gomez. 'The value of that pole barn would be removed for the tax preparation of the 2025 tax year. You lost your entire home, then the entire value, the taxable value, and all of those improvements would be removed for that year of 2025.' In addition, county leaders say it is also good to sign up for fraud protection if you haven't already. 'It's a free system to our public, and they can come in and register or they can get it online,' said Craig. Craig says property fraud is one of the fastest-growing scams in America right now; that is, someone claiming another person's property is theirs. 'If somebody came in and filed a document trying to convey that property into another name, they will immediately get an alert,' Craig said. 'They can either get a text message alert or they can get an email alert.' Both Craig and Gomez say it's better to tackle both of these tasks sooner rather than later. 'No matter how minimal you think your damage is, let us know,' Gomez said. 'Let us make a decision on how it can ultimately affect you and your tax bill for 2025.' 'Every tool we can find and adapt to help our citizens, we're going to do it,' said Craig. To file your losses, you can email Gomez at jgomez@ To register for free property fraud alert, follow this link Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
19-03-2025
- Business
- Yahoo
Oklahoma Insurance Department offering tips to residents impacted by wildfires
OKLAHOMA CITY (KFOR) — As many Oklahomans are sifting through what little the wildfires left of their homes, they have a whole new issue on their hands, insurance claims. Officials with the Oklahoma Insurance Department said their biggest piece of advice is to be educated on your insurance policies and know what to expect. 'It's been a while since we've had a lot of fire damage like this,' said Ashley Scott, Deputy Commissioner of External Affairs. 'Deeper perspective of loss': Luther couple's home damaged in wildfire The Oklahoma Insurance Department is ready to offer help to any Oklahoman impacted by the wildfires. Scott said the first step is to reach out to your insurance provider. 'The first thing they'll do likely is send out an adjuster to assess the home, making sure that you have all that documentation to know kind of what to expect as far as your deductible and what your policy covers, what it doesn't cover,' said Scott. Scott said knowing your insurance policy plays a critical role in starting the rebuilding process. 'A lot of policies have additional living expenses. So if your home was totally destroyed in the fires more recently, then you can get monetary assistance from your insurance company for your additional living expenses,' said Scott. With the chance of fires still burning around Oklahoma, Scott said this will broadly affect the insurance market in the state. 'There's going to be a lot of claims paid out. Claims paid out obviously sometimes has a change in your premium later on at renewal. There are those things that we are watching internally here at the department and trying to keep track of for sure,' said Scott. No matter what policy you have, Scott said it's important to keep any documentation and be wary of scams. 'Avoid fraudulent contractors when you're working on repairs as you go through this process. Making sure that they are licensed with our construction industry board check with the Better Business Bureau. Just do some really good back background work on who you're hiring,' said Scott. He also said that after you assess the damage, you can put that information on Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
11-03-2025
- Climate
- Yahoo
Oklahoma homeowners can apply for grants to strengthen roofs against storms
OKLAHOMA CITY (KFOR) — Oklahoma is no stranger to severe weather; tornadoes, hail and wind can bring costly damage. The Oklahoma Insurance Department recently launched a pilot program offering eligible homeowner up to $10,000 to fortify their homes. 'The program is really created to assist consumers and homeowners with mitigating and fortifying their roofs, so that they will be stronger and be able to withstand some of the severe weather that we see here in Oklahoma,' said Ashley Scott, director of Strengthen Oklahoma Homes Program, OID. The first phase of the Strengthen Oklahoma Homes Program covers eight zip codes: 73049 – Jones 73051 – Lexington/Slaughterville 73065 – Newcastle 73069 – Norman 73111 – East OKC 73127 – West OKC 73129 – Southeast OKC 73135 – Southeast OKC/I-240 Homeowners in these areas can apply for the grants. 'We've been able to kind of focus on areas where we've seen tons of storm damage, but also higher premiums,' said Scott. Once selected, homeowners will work with approved evaluators and contractors to complete the upgrades. Storm shelter registry available for Oklahoma City residents 'When it's finished, they'll receive a certificate to help lower insurance premiums. We really thought with the type of storms that we've been seeing more and more of and with the insurance market being so hard right now, this is a great opportunity for us to try and step in and do something we can do about it,' said Scott. For the first phase, the OID is looking to award 100 grants. 'We plan on doing a second pilot project shortly after with about 250 applications. A third pilot project with another roughly 250 applications and then finish out the year with 400 more,' said Scott. With each phase, more zip codes will be added to the list. The program is capped at $10 million and all funding comes directly from the insurance industry. The OID says the program started because of a bill that was signed into law last year. To check your eligibility to apply for the grant, click here. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
