Live Insurance News

Health insurance companies find significant potential in Medicaid

August 28, 2012April 30, 2013

Large insurers are buying out smaller ones that are better prepared to serve the elderly and poor. The largest health insurance companies in the country have been absorbing much smaller ones by the dozen as they prepare for the influx of customers through one of the latest healthcare changes by the government that will allow them to manage the coverage needs for the elderly, poor, and unwell across the country. So far, approximately 15 states are in the midst of creating their programs for this coverage. These states are each…

Health insurance companies may combine as Aetna makes offer for Coventry

August 27, 2012April 30, 2013

The American consolidation would be worth $5.6 billion if accepted. Health insurance company, Aetna Inc., has made a $5.6 billion offer to acquire its competitor, Coventry Health Care Inc., in order to boost its share of the most rapidly growing American government-backed Medicaid and Medicare programs. Aetna would gain over 5 million customers if this purchase is completed. This most recent announcement is made right on the heels of another major acquisition, when WellPoint Inc. purchased Amerigroup Corp. in a massive broadening of its Medicaid business. This type of consolidation…

Massive health insurance lawsuit filed against Aetna

July 8, 2012July 8, 2012 Julie Campbell

Thousands of doctors in California claim the insurer is interfering with patient care. A health insurance lawsuit filed by doctors in the California Medical Association (CMA), Los Angeles County Medical Association (LACMA), and a healthcare organizations and provider coalition is claiming that Aetna is routinely and illegally denying its policyholders access to doctors when their policies state that they are permitted to select their own providers. The suit was filed against the insurer with the Los Angeles County Superior Court. It alleges that Aetna’s practice is threatening patients who have…

Massachusetts health insurance rebates of over $1 million to be paid by Aetna

July 3, 2012July 3, 2012 Marc

Deceptive student plan marketing and failure to comply with mandated benefits led to the payments. Aetna Life Insurance Co. has agreed to restitution and civil penalty payments of over $1 million in order to settle the charges made against it regarding failure to provide Massachusetts health insurance benefits coverage that is mandated by the laws of the state, as well as for college student plans that were marketed in a deceptive way. Boston’s Suffolk Superior Court received the filing for the consent judgment that contained the deal. It was received…

Aetna provides individual health insurance policies to Illinois Costco members

April 26, 2012April 30, 2013

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…

Aetna makes a statement in the industry

March 19, 2012March 19, 2012 Julie Campbell

At this year’s Health 2.0 event, Mark Bertolini, the CEO of Aetna, gave a very positive outlook for the future of health insurance in his company as a result of the current and upcoming changes to the healthcare system in the United States. The reason is that the insurer has reinvented itself by providing a unique healthtech startup company exit opportunity after having made more than $1.5 billion in acquisitions in 2011. Those acquired companies are playing an important role in assisting healthcare organizations to make their first steps into…

Gallup survey shows that employer provided health insurance is disappearing

February 18, 2012February 18, 2012 S.Vagus

A new survey from the Gallup Organization, a consultation and polling company, shows that employer sponsored health insurance is on the decline. The survey began on January 1 of 2011 and came to its conclusion on December 31 of the same year. Declines in insurance coverage are a persistent trend in the U.S. despite claims from the federal government. The Obama administration insists that the Affordable Care Act has brought coverage levels to an all time high. While this may be true for young adults, this is not the case…