The increased popularity of health plans with high deductibles are causing workers to pay more

As a growing number of companies are seeking to be able to continue to afford to provide their workers with health insurance, plans with high deductibles are becoming increasingly popular and are requiring those employees to pay more while receiving less. According to the Employee Benefit Research Institute’s survey data from December, 2011, 27.7 million people of working age had a health insurance plan with a deductible of a minimum of $1,000 for individuals and a minimum of $2,000 for families. According to the report on the survey, the percentage…

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Pennsylvania insurance regulators see their rate review authority expanded with new law

The Pennsylvania Insurance Department has had its authority over insurance rates for small employer health care policies expanded this week. On Thursday, Governor Tom Corbett signed Senate Bill 1336 into law, giving regulators the power to adjust the insurance rates in the small group market. For the first time, state insurance regulators will be able to review and disapprove new rate proposals coming from insurers. They will also be able to require insurers to justify their need for a rate increase and demand changes if necessary. Insurance Commissioner Mike Consedine…

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Health insurance forum coming to Florida, aims to advise small business owners on health care

Health insurance has been a hot issue for some time, even before the passing of the federal health care reform law. The insurance industry has been rife with controversy for years, much of which is focused around the issue of soaring premiums. While rate increases are not anything new, health insurers have been quick to raise rates on their coverage in recent years. The cause of the rate hikes is most often cited as being a way to mitigate the overwhelming cost of medical care. Whatever the case may be,…

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