Number of uninsured people in Indiana is dropping quickly
A growing number of people are gaining health insurance coverage in Indiana. This year, Governor Mike Pence expanded the state’s Medicaid program. Through this expansion, a greater demographic of people are eligible for coverage through the program. Governor Pence decided to take a different approach to expanding the Medicaid program than what was outlined through the Affordable Care Act. Pence believes that his approach will make the state’s Medicaid program more accommodating of the needs of consumers.
Indiana University Health finds that premium revenue is on the rise
Indiana University Health, a non-profit academic health center, has also reported a significant increase in premium revenue, largely due to the influx of people acquiring health insurance policies. The organization began selling policies on the state’s health insurance exchange at the beginning of this year and has seen a significant increase in the amount of people that have enrolled for coverage. More people with insurance policies means higher premium revenue, and the number of people with insurance coverage is expected to continue increasing in the state.
Some insurance organizations aim to launch their own Medicare plans
Indiana University Health’s Medicare Advantage membership has increased by 15% year over year and now accounts for nearly 12,000 people. many of these people take advantage of the highest-quality coverage that it available, providing them with access to comprehensive medical care. Other organizations have taken note of the success of Indiana University Health and are currently debating launching their own Medicare plans in order to provide better services to those that need health insurance coverage.
Federal law proves problematic for some insurers, forcing them to increase health insurance premiums in order to recover from financial losses
The Affordable Care Act has been a boon for some insurance organizations, while others have had trouble with the federal law. Many insurers are facing greater operational costs due to the provisions of the Affordable Care Act. In many cases, this has forced insurers to raise premiums in order to recover from financial losses they have experienced.