Health insurance to be offered to Costco members by Aetna

Costco Aetna health insurance

The insurer has now unveiled a new program for individual coverage in California. Aetna has just announced the unveiling of a new health insurance program in California through which they will be offering individual plans to members of Costco. This program is geared toward meeting the needs of Costco members in an affordable way. The coverage is called the Costco Personal Health Insurance program. It includes five different types of plans, which are broad major medical benefits, a number of assistance services, a large provider and hospital network, dental options,…

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Health insurance costs have risen by 62 percent

Health Insurance rate increases

Family coverage has skyrocketed since 2003, showing the increasing expense for those paying for plans. According to the latest health insurance data from the Commonwealth Fund in a recently released report, the total cost for a family plan – for both employers and for employees – broke the $15,000 mark last year, which represented an increase of 62 percent since 2003. Wages, on the other hand, increased by only 11 percent during that same period of time. The cost of commercial health insurance has undergone an increase in its price…

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Aetna provides individual health insurance policies to Illinois Costco members

Health insurance sold at costco

Aetna has announced a new individual health insurance plan for members of Costco in Illinois. Aetna has just unveiled its latest individual health insurance product which is now being offered to residents of Illinois with a Costco membership. The product is called the Costco Personal Health Insurance program, and it offers five different types of policies from which its members can choose. These offer a wide doctor and hospital network, a range of different major medical benefits, as well as a spectrum of useful services, information, and tools that are…

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Minnesota making significant progress on its health insurance exchange

Minnesota health insurance moves ahead with exchange system. Minnesota is making significant progress on establishing its health insurance exchange system. The state has determined that it will continue building an exchange despite the uncertain future of the Affordable Care Act. The federal health care law requires each state to build its own exchange by 2014 or risk losing control of the exchange effort to the federal government. Though the state is committed to building an exchange, the burden of the process falls on the Minnesota Department of Commerce instead of…

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

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

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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Results of 2012 National Critical Illness Insurance Buyer published

The American Association for Critical Illness Insurance, in association with General Re Life Corporation, has released a report based on the results of the 2012 National Critical Illness Insurance Buyer Study. The study showed that there is a growing number of people purchasing critical illness insurance in the demographic of those between the ages of 25 and 45. They are buying the coverage in order to ensure that they will have immediate cash payments available to them should they ever receive a diagnosis of a serious health condition. Approximately 49…

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