Health insurance exchange for small businesses to be delayed

Health insurance for small business health care costs

Though promised by the healthcare reforms, it looks like there may be another year to wait. Employees of small businesses may need to wait an extra year before they will be able to take advantage of the health insurance exchange that was promised to companies of that size, as the Obama administration has announced a delay in the implementation of an important provision to the Affordable Care Act. These workers were supposed to have access to coverage through the marketplace as of January 2014. This would have applied to small…

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Federal government to give Hawaii over $14 million for its insurance exchange development

Hawaii will be receiving, $14,440,144 from the federal government in order to assist with the development and implementation of the Hawaii Health Connector, which is the state’s online insurance exchange. The exchange is meant to provide consumers with the ability to find healthcare plans that they can afford. The announcement of the upcoming funding was made by Senator Daniel K. Akaka, Senator Daniel K. Inouye, Representative Colleen Hanabusa, and Representative Mazie K. Hirono. The U.S. Department of Health and Human Services will be providing the funding to the state through…

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Department of Health and Human Services casts a wary eye at CLASS

The U.S. Department of Health and Human Services is currently reviewing a new report concerning the longevity of the Community Living Assistance Services and Support (CLASS) program. The long-term care program has generated controversy lately after the resignation of the program’s administrator and staff. As of now, the program will not receive any federal money in 2012. CLASS is designed to provide insurance coverage for those needing long-term care. The future of the program is currently in jeopardy but the HHS is not inclined to solve any of its problems…

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South Carolina rejects federal money that would help build insurance exchange

Reeling from the impact of Hurricane Irene, South Carolina has not lost sight of opposing federal health care reform. Tony Keck, head of the state’s Health and Human Serviced Department, announced Thursday that the state would be rejecting millions of dollars in federal grants that would have been used to help the state build a health insurance exchange. The exchange would have helped residents of the state find affordable insurance coverage and, theoretically, reduce the overall cost of insurance policies within the state as insurers fought for customers. South Carolina…

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Consumers and small businesses may turn to CO-OP into affordable opportunities

The Affordable Care Act will soon be providing consumers and small businesses with the opportunity to take advantage of their state Affordable Insurance Exchange, so that they can obtain cheaper healthcare through a new form of health plan known as a Consumer Oriented and Operating Plan (CO-OP). CO-OP health insurers are private and non-profit, with a board comprised of members, so that affordable, high quality health plans will be available in a consumer-friendly way across every state. The proposed standards for the establishment of CO-OP health insurance plans were outlined…

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Maine requests an exemption to the Affordable Care Act

On Saturday, an important federal health insurance regulation will take effect, Maine’s request for an exemption is still to be determined.  Though many other states are expected to file exemptions, they are the only state that has requested an exemption to the Affordable Care Act regulation; their goal is to have health insurance companies keep a minimum “medical loss ratio” of 80%.  Companies will have to spend about 80 cents of every insurance premium dollar for health care services and the other 20 cents on operational expenses such as marketing and…

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