Hospitals respond to changes in Michigan’s auto insurance law

michigan auto insurance rates

No-fault auto insurance law could have a major impact on hospitals Michigan lawmakers are considering making changes to the state’s no-fault auto insurance law in order to address the issues concerning expensive insurance coverage and the cost of medical care. Changes to the state’s law could have a major impact on its hospitals as well. The Michigan Health & Hospital Association has released estimates that suggest that proposed changes to the state’s auto insurance law will cost hospitals approximately $1.2 billion annually for treating those that have been in car…

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Health insurance companies partner to examine medical costs

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Rising medical costs encourage companies to come together to shed light on the issue Three of the largest health insurance organizations in the United States have agreed to come together for the sake of a new research initiative that is meant to help develop a digital tool that could shed some light on the costs of medical care. These costs have become a major issue for many people and businesses throughout the U.S. and are somewhat shrouded in mystery. It is no secret that medical costs have been on the…

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Long term care insurance tax deduction limits are on their way up

Long Term Care Insurance

The IRS has increased these limitations to help LTC customers afford their policies. The director of the American Association for Long Term Care Insurance, Jesse Slome, has announced that the IRS has now increased their tax deduction limits on this form of coverage. The Internal Revenue Service announced the start of this change for policies purchased in 2013. According to Slome, “For taxable years beginning in 2013, the limitations have been increased,” adding that “Tax advantaged long-term care insurance remains one of the few remaining significant tax-savings benefits especially meaningful…

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Health insurance plans often place a large amount of expense on customer shoulders

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Lower premium policies are leading to high costs that can be financially crippling. A first of its kind American health insurance analysis of over 6,000 plans that are geared toward families and individuals has shown that the majority of people who enroll in them are at risk of facing tremendous out of pocket medical expenses that could cause them to face financial ruin. Plans that feature lower monthly premiums often have high limitations to the coverage they provide. For this reason, it is not uncommon for people to face enormous…

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Families in Ireland may soon have trouble paying for health insurance

The insurance industry in Ireland is facing troubling times, which may translate into higher rates for consumers. The Irish Patients Association has spoken out about the coming health insurance rate increases coming from several insurance companies. The IPA claims that rates are rising so quickly that they may make it impossible for families to hold on to their policies. The consumer advocacy organization says that if the problem is not addressed legislatively, health insurance will become unaffordable within the next few years. This week, Aviva Health Insurance and VHI Healthcare…

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Medical technology is a double-edged blade in the world of insurance and cancer

Advances in medicine are often hailed as major accomplishments, but little attention is paid to how medical breakthroughs affect the price of insurance coverage. Cancer, one of the deadliest diseases known to man, is a common focus when it comes to the medical world. Cancer itself has been around for millennia, but the 20th century has been host to the most promising progressions in fighting the disease. Medical technology has progressed rapidly in a relatively short amount of time, meaning that the insurance industry has been left to mitigate the…

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