Live Insurance News

Health insurance companies flee South Carolina market

November 29, 2013November 26, 2013 Nordstrom

A dozen insurers opt out of South Carolina small group and individual markets Nearly a dozen health insurance companies are leaving South Carolina, according to the state’s Insurance Department. These insurers are refusing to write new health policies in the state, citing new regulations introduced by the Affordable Care Act. These regulations are placing significant financial strain on some companies and smaller insurers are finding it difficult to comply with some of the federal law’s provisions. As such, pulling out of the individual and small group markets of South Carolina…

Health insurance companies express worry over profits

October 7, 2013October 5, 2013 S.Vagus

Health insurance providers predict impact to profits Despite the partial shutdown of the U.S. federal government, the Affordable Care Act will continue to be enacted on schedule. This has created some worry among some health insurance companies and their ability to make a profit. Large companies have warned since 2010 that the federal health care law would cause a spike in health insurance rates due to provisions calling for higher expenditure on administration and requirements for insurers to spend the majority of the money they collect through premiums on improving…

Aetna pulls out of New Jersey health insurance exchange

September 19, 2013September 17, 2013 Logan B.

Company opts to not participate in state health insurance exchange Aetna, one of the largest health insurance companies in the U.S., has announced that it will not be participating in the New Jersey health insurance exchange. The exchange is set to begin open enrollment on October 1 this year, and is meant to provide consumers with access to affordable health insurance plans. Aetna was expected to be a prominent participant in the exchange, but disagreements with state officials may have discouraged the company from participating in the state’s exchange. Aetna…

Aetna backs out of Georgia health insurance exchange

August 8, 2013August 7, 2013 Marc

Aetna and Coventry pull out of state health insurance exchange Aetna, one of the largest health insurance providers in the U.S., has dropped out of Georgia’s health insurance exchange. The insurer is also taking its recently acquired subsidiary, Coventry, out of the state’s insurance exchange as well. With the two companies leaving the exchange, five insurers remain to offer coverage through the state’s exchange program. While the insurers will not be participating in the exchange, they will still be offering coverage beyond the confines of the program. Federal law seeds…

Aetna to pull out of individual health insurance market in California

June 17, 2013June 17, 2013 Logan B.

Aetna bows out of individual health insurance market Health insurance has proven to be a divisive subject in the U.S. The federal Affordable Care Act has introduced many changes to the health insurance field, but it is to the extent that some states are taking health care reform that may be causing significant trouble for businesses. While the Affordable Care Act has introduced a variety of stringent regulations, states are also encouraged to adopt their own regulations and make reforms that would align better with the federal law. In California,…