Live Insurance News

Health insurance penalties could add up quickly for the uninsured

March 18, 2014March 15, 2014 Logan B.

Federal penalties may be more costly than people may realize The federal health insurance mandate has been in effect in the U.S. for nearly three months, but penalties for those without insurance coverage are not expected to be seen until after March 31. When the open enrollment period for insurance exchanges comes to a close, those without insurance coverage will become vulnerable to federal penalties. These penalties levy a 1% of annual household income fee or a flat rate of $95 based on yearly income. These penalties, however, may only…

Illinois is on track to reach health insurance exchange enrollment goals

March 17, 2014March 15, 2014 S.Vagus

Enrollment in state’s insurance exchange continues to accelerate as people become more conscious of March 31 deadline In Illinois, enrollment in the state’s health insurance exchange has begun to pick up momentum. Nearly 900 people are enrolling for coverage through the exchange on a daily basis, according to figures released by the Department of Health and Human Services. Some 113,733 people throughout the state have enrolled for coverage through the exchange in the first five months of its existence. Similar results are being seen in other states when it comes…

Health insurance exchange deadline approaches

March 15, 2014March 15, 2014 Note From The Editor

As deadline looms, acquiring insurance coverage is becoming more important The time is coming when the open enrollment period for insurance exchanges in the U.S. will no longer accept new enrollees. The open enrollment period ends on March 31 and many people throughout the country have begun scrambling to enroll for coverage through both state-run and federal exchanges before then. Exchanges offer services that cannot be found in the private market, such as offering access to subsidies from the federal government that are meant to offset, if not eliminate, the…

Health insurance shrinking uninsured rate among American adults

March 14, 2014March 11, 2014 G. Turner

A recent survey tracking health care reform success has shown that a positive difference is being made. Just over two weeks is left to purchase the necessary health insurance plans to comply with the individual mandate requirements of the Affordable Care Act, and while the launch of the exchanges last October were not without tremendous hiccups – to say the least – it looks as though it has turned around and is making meaningful progress in reducing the number of adult Americans who had been uninsured. The results of a…

Obama Administration extends renewal opportunities for substandard health insurance policies

March 11, 2014March 11, 2014 S.Vagus

Government continues to attempt to fix problems associated with cancelled insurance policies As the Obama Administration continues to face harsh criticism concerning health care reform, it is working to resolve the issues that are associated with the cancelation of health insurance policies. Many policies have been cancelled due to the provisions of the Affordable Care Act. The federal law requires insurers to cancel policies that are considered substandard. Cancellations have left many people throughout the country without insurance coverage and this has caused a great deal of frustration to be…