With the start of the new year, many people have made resolutions to save more money, and in that effort, it is not uncommon to look over health insurance coverage to make sure that what has already been purchased or what will be purchased in the near future will include the best possible savings but with the coverage that makes the most sense to each individual. Use the following tips to help achieve this goal: • Do your homework and compare all of the different health plans available to you…
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Report shows that West Virginia’s health insurance costs are rising dramatically
The Commonwealth Fund, a private foundation working to improve the health care system, has released a new report concerning the state of health insurance premiums in West Virginia. According to the report, premiums in the state have risen by 55% in the last decade, with deductibles jumping by 84% in the same amount of time. The report suggests that the state has the 14th highest premiums in the nation. This puts major financial stress on state residents as West Virginia is home to the lowest median income in the U.S.…
Read MoreAetna report shows that consumers are confused about insurance terms
Aetna Inc. has released the results of a new consumer survey as open enrollment for employer-offered insurance plans comes to a close. The results of the survey show that more than half of insured adults in the U.S. find the terms of their insurance policies confusing. This presents a major problem for both insurers and consumers as these adults general tend to accept any terms they are given as they believe that any insurance coverage, even if it is not appropriate to their needs, is better than no coverage at…
Read MoreEmployment doesn’t guarantee health insurance
A new U.S. Department of Labor-funded report has indicated that employer-sponsored health insurance is rapidly on the decline for millions of Americans. According to the researchers from Iowa Policy Project, the nonprofit organization that released the report, employees are losing the jobs that provide health insurance through the employer, and are finding new employment through contract or that is part-time, which makes it much more challenging to find affordable coverage. Co-author of the report, Noga O’Connor, said that it has become less common and more expensive to receive health insurance…
Read MoreStudy shows cost for employees for health insurance is set to rise
The findings of an Aon Hewitt study are showing that the average per-employee cost for health insurance will increase beyond the $10,000 mark in 2012, regardless of the fact that costs are rising more slowly than the current 2011 rate of 7.5 percent. The rate for healthcare premiums is expected to increase by 7 percent, but the actual cost of premiums for each employee is forecasted to be over $10,400. When compared to the 2010 figure of less than $9,800, the 2012 is notably higher. Workers will be responsible for…
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