Today’s News: Mortgage Insurance Rates to Increase, Veteransâ€™ Health Care is Best and Georgia Stops Cell Phone Use While Driving
Congress is considering making some changes to FHA reform and as a result, home mortgage insurance rates could increase. In other insurance news, those who benefit from veterans’ health care have the best health insurance options and Georgia has taken a stand against motorists using their cell phones while driving, which could be a good thing for auto insurance.
Mortgage Insurance Rates to Increase
If you have mortgage insurance, which is to cover the costs for those who cannot pay 20 percent of their loan for their home’s down payment, you could see a rate increase. Mortgage insurance is closely associated with the Federal Housing Authority (FHA) because many homeowners seek the organization’s help when they are financially strapped.
Since the FHA Reform Act of 2010 is set to undergo changes this week, mortgage insurance could be affected. The biggest change is that the annual mortgage insurance premium could increase to 1.55 percent from 0.55 percent. (Housing Wire)
Veteransâ€™ Health Care is Top of the Line
According to several studies conducted by a number of firms, VA health care seems to top the list among most other health care systems. Thanks to its separate, system-wide electronic health record, long-term relationships with patients, sophisticated measurement tools and coordinated approach to care, patients seem to get the best results when it comes to care.
The health care system is so highly-revered in fact that some think that health care reform and the new approach toward health insurance could see success if modeled after veterans’ health care. (Market Watch)
Georgia Stops Cell Phone Use While Driving
In an attempt to curb cell phone use while driving, Georgia’s Gov. Sonny Perdue signed new laws that prohibit drivers from using their phones while operating their vehicles. Since many accidents have been caused by cell phone use, especially texting while driving, the auto insurance industry is probably breathing a sigh of relief.
There have been many campaigns to end the act of using a cell phone while behind the wheel at the national level; however, it seems states are taking matters into their own hands in the meantime. (Worlds Breaking News)