Health insurance company to put its individual PPO plans to rest

Texas health Insurance companies

Blue Cross Blue Shield of Texas will begin phasing out its PPO coverage Blue Cross Blue Shield of Texas has announced that it will be phasing out its PPO coverage for individuals. The health insurance providers is doing so because it believes that offering this coverage is no longer financial sustainable. Those with PPO coverage from the insurer will have to switch to HMO plans as a result. Notably, the company’s PPO plans will continue to be offered to employers and group PPO plans will still be available. Cost of…

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China to expand its expansive health insurance plan

China Health insurance Care Industry

Expansion will provide coverage for those with critical illnesses China has plans to expand its health insurance system in order to provide better coverage to those with critical illnesses that are living in rural and urban areas. By the end of the year, all those living in these areas will receive critical illness protection from the country’s health insurance system. At the end of last year, approximately 1.3 billion people were enrolled into the national system, which has provided these people will access to medical care. New plan will help…

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Insurance costs are driven skyward by some ailments more than others

health insurance costs subsidies

New research has revealed the catastrophic ailments are the most expensive for insurers to cover. The results from a recent study that looked into health insurance costs has now revealed the 10 types of catastrophic ailments that are the priciest for insurers to have to cover as a part of their plans. Among the leading types of condition is going into labor early and having a preterm baby. Preterm births occur about 450,000 times every year and have been found to be among the highest insurance costs, says the new…

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Anthem insurance company to purchase Cigna for $54 billion

Cigna's Headquarters in Philadelphia insurance company

Massive acquisition to take place as one insurer purchases the other for cash and stock. It was recently announced that Anthem will be buying the Cigna insurance company for a tremendous buyout of $54 billion in cash and stock, making this the latest huge purchase by the insurer. The buyout is for 55 percent cash in addition to the remaining 45 percent in stock. Anthem has agreed to purchase each Cigna share for $188. The combined insurance company will be serving an estimated 53 million plan members. This new acquisition…

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The average auto insurance customer hasn’t switched companies since 2003

auto insurance premiums

According to recent research, one in every three drivers has not shopped around at all for a policy. A recent study was conducted by insuranceQuotes.com, which has now issued its results in a report that showed that the average American driver hasn’t changed the auto insurance provider covering their vehicle in over a decade. In fact, the average length of time since the last change in insurance companies was 12 years, said the report. Furthermore, about one quarter of all drivers have been sticking with the same auto insurance company…

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