Live Insurance News

Health insurance exchange suffer from faulty internal controls

July 4, 2014July 2, 2014 S.Vagus

HHS report identifies internal controls as a problematic issue Insurance exchanges throughout the U.S. have faced technical struggles for the past several months, but a new report from the Department of Health and Human Services may have identified the reasons behind one of the most problematic aspects of these exchanges. Insurance exchanges have been having trouble adequately determining whether or not those seeking federal subsidies are actually eligible for these subsidies. The subsidies are offered by the federal government and exist as a way to make insurance coverage more affordable…

Health insurance rates may be set for dramatic rise

March 24, 2014March 22, 2014 S.Vagus

Insurance industry experts warn of impending rate shock from higher rates in 2015 The issue of health insurance premiums rising in the U.S. as a result of the Affordable Care Act has received a great deal of attention over the past few years. According to the Department of Health and Human Services, rates will indeed increase in the coming year, but only by a modest amount. The agency suggests that the financial impact of new insurance regulations has not been sufficient enough to cause insurers to raise premiums by a…

Health insurance deadline looms

February 21, 2014February 25, 2014 S.Vagus

Consumers face March 31 deadline, when open enrollment for exchanges comes to an end The deadline for purchasing health insurance coverage through insurance exchanges in the U.S. is quickly approaching. The open enrollment period for exchanges and the coverage they offer ends on March 31 of this year. Those that do not have health insurance coverage after the deadline passes are more likely to be subjected to penalties coming from the federal government. The problem, however, is that many people are still reporting that they cannot purchase coverage through exchanges…

Health insurance plans purchased by over one million Americans

December 24, 2013December 21, 2013 G. Turner

According to Obama, much of this figure came from the over 500,000 who signed up on the federal site this month. According to a statement made by President Barack Obama, over one million people have now purchased their health insurance plans on the exchanges across the country, with over half of that number coming from the federal HealthCare.gov website, throughout the month of December. Despite a very rocky start, it does look as though enrollment has considerably picked up. The president revealed hints at these figures that had been tightly…

Health insurance problems could cause coverage shortfalls

December 11, 2013December 9, 2013 S.Vagus

Glitches may mean that certain insurance policies will not become active as scheduled The U.S. Centers for Medicare and Medicaid Services has announced that many people that have signed up for health insurance coverage through the federal HealthCare.gov portal may not actually be covered when the New Year starts. People throughout the U.S. have been trying to sign up for coverage through the federal insurance exchange but have been unable to due to technical problems. While the federal government is busy working to resolve these issues, those that did manage…

Health insurance issues place regulators in a difficult position

November 26, 2013November 25, 2013 Logan B.

Health insurance regulations continue to cause problems Insurance Commissioners throughout the U.S. have been placed in a difficult situation. Earlier this month, President Obama announced that insurance companies could continue to honor substandard health insurance policies rather than cancelling these policies because they do not comply with the standards of the Affordable Care Act. This is meant to create a transition period wherein consumers can have a reprieve from cancellations and insurers can better prepare to comply with federal law. The problem, however, is that many Insurance Commissioners have been…

Health insurance fix for cancelled plans announced by President Obama

November 15, 2013November 14, 2013 H. Cutner

President Obama health insurance Obamacare

In a televised speech, insurers were allowed to offer their current plans for an additional year. President Obama has now announced a fix for the widespread problems regarding cancelled health insurance plans, as the date for the full implementation of the healthcare reforms draws ever closer. This gives the insurers the chance to maintain their current plans for a year, even if they don’t comply with the law. The fix was announced by the president in order to help to stop the tremendous trend that health insurance companies have started…