Mayo Clinic downsizing leads to heath insurance unit sale

Health Insurance Unit - Medicine - Doctor - Heart rate - health

Corporate downsizing has led the highly reputed organization to take a new direction with its coverage. The Mayo Clinic has sold its health insurance unit in western Wisconsin. Patients covered by those policies will be offered a new option for their coverage. The policyholders were not without warning as the Mayo Clinic has been discussing it for years. The Mayo Clinic sold its health insurance unit to WEA Trust, a public employee insurer. The academic medical center decided within the last couple of years that it would put its health…

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Toothbrush startup acquires dental insurance company for total tooth care

Dental Insurance Company - Toothbrush and Dental Tools

Quip has announced its intentions to purchase Afora, taking the next step in its unique business model. Electric toothbrush startup, Quip, is acquiring Afora, a dental insurance company. Quip first started selling its toothbrushes online back in 2015. It has, since that time, built a substantial consumer network. The toothbrush company offers subscriptions for direct-to-consumer personal care products. As popular as its toothbrushes have become, Quip is lining up to become more than a toothbrush brand. Instead, it is expanding to be able to become a dental insurance company, too.…

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Idaho kids health insurance system may have been overpaid

Kids Health Insurance - Doctor, child, stethoscope

The federal government claims it paid $3.1 million too much, thought the state disagrees. A federal agency claims it overpaid the Idaho kids health insurance program by $3.1 million from 2010 through 2013. This, according to an Office of Inspector General (OIG) of the U.S. Department of Health and Human Services audit. Idaho completely disagrees and says that all the payments it received were fully justified. The kids health insurance audit suggested that there was an overpayment and that it was Idaho’s fault. The report indicated the state should be…

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Walmart health insurance acquisition talks underway with Humana

Walmart Health Insurance - Insurance Company Acquisition - Business

The largest retail chain in the world is reportedly in early-stage negotiations with the insurer. A new Walmart health insurance company may one day form if its acquisition of Humana is successful. The Wall Street Journal reported that the retailer was in talks with the insurer for precisely that purpose. Reuters soon after reported that the companies were working on a possible partnership without ruling out an acquisition. Humana’s shares skyrocketed by up to 13 percent during the trade hours following the reports. The Walmart health insurance talks also gave…

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California health insurance premiums may spike, analysis

California health insurance premiums - American and Californian flag

Covered California predicts a possible spike in rates residents are paying for policies. California health insurance premiums may sharply rise over the next few years. In fact, Covered California’s own analysis predicts a 35 percent increase by 2021. When compared to the current rates, Californian consumers may pay 35 percent more over three years. The state is among a total of 15 predicting average rate hikes of 35 percent by 2021 compared to their current rates. Across the United States, consumers purchasing coverage on an insurance exchange may pay more.…

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Health insurance expenses bring stress to uninsured American adults

Colorado Mental Health Insurance - Stressed Adult

A new report shows uninsured people are hesitant to purchase a policy due to anticipated rising costs. Approximately 71 percent of uninsured American adults who were aware of the open enrollment period chose not to purchase a plan due to expected increasing health insurance expenses. They risk failure to comply with the Affordable Care Act to sidestep rising costs. This represents a potential shift in the level of confidence that the ACA will stay in effect. The research was conducted by the Commonwealth Fund. The results were published in a…

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Children’s Health Insurance Program funding slashed in Trump budget

Children’s Health Insurance Program

While that program is hacked down by 20 percent, millions more kids will be affected with the Medicaid reductions. President Donald Trump’s budget plans will take down the Children’s Health Insurance Program funds by at least a fifth of its current size within two years. At the same time, Medicaid, a program that covers millions of other kids, will also be axed down in size. Millions of families may watch their health plans disappear if the president’s proposed budget passes. The budget, entitled “A New Foundation for American Greatness,” would…

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Children’s Health Insurance Program funding may be in jeopardy

Children’s Health Insurance Program kids

Congress has to act on reauthorizing funding for CHIP Congress may need to act quickly if it wants to save the national Children’s Health Insurance Program (CHIP). The program’s funding scheme is set to expire soon and this could leave children throughout the United States without access to health insurance coverage. The program’s current funding will run dry next year, but relatively little has been done to address this issue. The burden of keeping CHIP alive is not for Congress alone, of course. States must begin working with insurers and…

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US government to investigate health insurance subsidy abuse

health insurance costs subsidies

Government regulators are looking to uncover potential fraud Hundreds of thousands of people throughout the U.S. are being contacted by the federal government. The government is questioning these people about their eligibility for the subsidies provided by the Affordable Care Act. According to the Obama administration, a large portion of those seeking coverage through health insurance exchanges may have provided misleading or false information concerning their incomes. This information does not match that which is stored with the Internal Revenue Service, which calls into question whether or not subsidies are…

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Health insurance: A lack of knowledge may be the plight of young people

teen mobile train bus health insurance

Young people are almost entirely unaware of insurance issues There is a significant gap in the awareness that younger people have concerning health insurance than that which exists with their older counterparts. Insurance is often considered a boring subject among young people. Many of these people do not have to worry about insurance issues in any way, which means that they perceive little purpose in understanding insurance in general. This lack of interest may actually prove problematic in the future as the insurance landscape in the U.S. continues to change…

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