Health insurance rates may be set for dramatic rise

Health Insurance benefits

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…

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Health insurance deadline looms

health insurance deadline checklist

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…

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Health insurance plans purchased by over one million Americans

health insurance enrollment

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…

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Health insurance problems could cause coverage shortfalls

health insurance deadline enrollment

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…

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Health insurance issues place regulators in a difficult position

health insurance exchange problems

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…

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Health insurance fix for cancelled plans announced by President Obama

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…

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Competition begins heating up in the health insurance sector

online health insurance technology exchange

Health insurance exchanges are boosting competition Health insurance exchanges throughout the U.S. have encountered many problems over the past month. When open enrollment began, exchange websites were flooded with traffic, leading to capacity problems and technical glitches with many exchange systems. In the weeks that followed, many state-based exchanges were able to overcome these issues, though technical difficulties still plagued the healthcare.gov website and enrollment system. As health insurance exchanges have begun growing more capable of handling demand, they are beginning to accomplish one of their primary goals: Increase competition…

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