Health care reform offers insurance industry a boost, study

Medicare open enrollment deadline approaching fast – things you should know!

The Michigan medical coverage sector has been greatly benefiting from the sale of individual policies. The health care reform is giving quite a shot in the arm to the insurance industry in Michigan, as sales of individual policies have spiked by almost 40 percent in the first quarter of 2014. This, according to a report that was recently released, while profits had been slumping the rebound was large. Last year, profits had been sliding, but this year, the health care reform is giving the industry a considerable boost as there…

Read More

Report shows health insurance premiums were growing before Affordable Care Act took hold

health insurance coverage

Health care reform may not be the sole cause of rate increases The Commonwealth Fund has released a report that shows that health insurance premiums throughout the U.S. were on the rise well before the implementation of the Affordable Care Act. The federal health care reform law has been the subject of extreme criticism for the past few years, with those opposing the law claiming that it is the cause of significant rate increases in insurance coverage. This may not be accurate, however, as insurance policies were already becoming more…

Read More

Cancelled policies in Nevada to stay cancelled

Nevada health insurance commissioner State Legislature Building

Health insurance policies in Nevada remain cancelled The Nevada Division of Insurance has announced that all health insurance policies that were cancelled due to the Affordable Care Act’s provisions cannot be renewed in the state. This decision came after consulting with the attorney general’s office and meeting with several executives from insurance companies operating in Nevada. The logistics involved with reversing cancellations, especially after notices had already been sent to policyholder, have been deemed too extreme to be viable. 25,000 consumers forced to find new policies Some 25,000 Nevadans have…

Read More

Health insurance policyholders gain a reprieve in California

California Health Insurance

Health insurance cancellations continue to spark controversy The cancellation of health insurance policies throughout the U.S. has sparked serious controversy in recent weeks. Many insurers throughout the country have plans to cancel policies, preventing policyholders from renewing their policies on January 1, 2014. Insurers are cancelling policies that do not comply with the standards established by the Affordable Care Act. Those whose policies have been cancelled will be forced to purchase new health insurance coverage either from private companies or from state-based insurance exchanges. Anthem Blue Cross decides to extend…

Read More

Health insurance cancellations reach 250,000 in Colorado

Colorado Health Insurance

Cancelled health insurance policies cause frustration throughout state The number of people in Colorado who are likely to see their health insurance policies cancelled has reached 250,000. These cancellations are causing frustration for many consumers in Colorado and several other states throughout the U.S. According to the Colorado Division of Insurance, 23 insurance providers are opting to cancel policies due to federal regulations introduced through the Affordable Care Act. The majority of these policies are expected to expire in January and February of next year. Insurers opt to cancel policies…

Read More