Tag: health insurance rates

Health insurance rates in Kansas to increase by 10 percent or more

Ohio health insurance

The state is tightening its reviews of the increasing costs. Kansas regulators are currently complying with one of the health insurance reforms put into place by President Obama, which require that stricter reviews be made of increases to rates that are greater than 10 percent. Governor Sam Brownback continues to stand strong against the other provisions of the healthcare law. To make sure that health insurance rates are kept under better control, the Kansas Department of Insurance has increased the number of steps that are taken in the review process…

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Medical loss ratio provision could have saved Illinois residents millions according to Commonwealth Fund report

S.Vagus

Health care reform medical loss ratio study The Commonwealth Fund, an independent foundation based in New York that researchers health care policies, has released a new report concerning the medical loss ratio (MLR) provision of the Affordable Care Act. The MLR provision requires insurance companies to spend no less than 80% of the money they collect from premiums on improving medical care. If insurers cannot meet this standard, the money must be returned to policyholders. The provision took effect in 2011, but has been mired in litigation and bureaucracy, which…

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California insurance regulators clash with Aetna over insurance rate hikes

Marc

California health insurance industry go head to head with regulators Aetna Life Insurance has raised the health insurance rates for small employers in the state of California this month. The company has plans to raise rates by an average of 8% for this sector each year. The plan has struck a chord with the state’s insurance regulators, with Insurance Commissioner Dave Jones accusing the company of being unreasonable. According to the state’s Department of Insurance, Aetna’s health insurance rates for small businesses will jump by more than 30% over the…

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Consumer Watchdog proposes new ballot initiative to curb health insurance rate hikes

S.Vagus

California health insurance industry being eyeballed Consumer Watchdog, a non-profit advocacy group focused on the insurance industry, has proposed a new ballot initiative to the California Legislature that would put a stop on rising health insurance premiums. The organization claims that the state’s largest insurance companies have increased premiums by 20% since April 1, 2012. Consumer Watchdog suggests that these companies will raise rates a second time in May, and increase that will likely be 20% again. These higher rates have affected more than 1 million Californians, many of whom…

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Consumer Watchdog Campaign opposes Anthem Blue Cross insurance rate increases in California

Anthem Blue Cross has announced that they will be increasing insurance rates by as much as 20 percent for the health coverage paid for by almost 600,000 people in California by May 1, 2012. Consumer Watchdog Campaign released a statement that said that a ballot initiative for boosting the affordability of health insurance through the regulation of hikes in premiums is vital to protecting people in California from excessive increases. This ballot initiative would require insurers to provide a public justification of changes that they make to their rates, under…

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