Excellus Blue Cross Blue Shield of New York has approached state insurance regulators for approval to raise its health insurance rates. The proposal is planned to take effect next year and will impose a 19.5% increase on some of the policies in the state. The company says that the increase is necessary in order to keep up with soaring medical costs. This is the same reasoning that prevails amongst the majority of the nation’s health insurers, but the notion has yet to gain traction amongst lawmakers, who have been tasked…
Read MoreTag: new york state health insurance
Hopes of change with New York health insurance exchange in place
In accordance with the Affordable Care Act passed last year, the state of New York is seeking to create a new agency that will run a federally mandated health insurance exchange. The state has long sought to find a means of providing coverage to some 2.5 million of its uninsured residents. Despite years of effort, officials have never been able to bring that number down. Many New Yorkers are hoping that the coming exchange will alleviate some of the difficulty in obtaining comprehensive coverage at a reasonable price, but still…
Read MoreNew Jersey: Government run health plan looking to close their doors
In New Jersey, hundreds of cities and school districts have saved a fortune by taking part in the state’s relatively unknown benefits program. For the past three years, an increasing number of people are dropping the insurance policies they bought from big name companies in favor of the state’s program. Some legislators are looking to change that by proposing a new bill that could severely inhibit the program. Stephen M. Sweeney, the State Senate president, is proposing legislation that would prohibit the state run insurance program from accepting new members.…
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