The Commonwealth Fund, a private foundation working to improve the health care system, has released a new report concerning the state of health insurance premiums in West Virginia. According to the report, premiums in the state have risen by 55% in the last decade, with deductibles jumping by 84% in the same amount of time. The report suggests that the state has the 14th highest premiums in the nation. This puts major financial stress on state residents as West Virginia is home to the lowest median income in the U.S.…
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Aetna report shows that consumers are confused about insurance terms
Aetna Inc. has released the results of a new consumer survey as open enrollment for employer-offered insurance plans comes to a close. The results of the survey show that more than half of insured adults in the U.S. find the terms of their insurance policies confusing. This presents a major problem for both insurers and consumers as these adults general tend to accept any terms they are given as they believe that any insurance coverage, even if it is not appropriate to their needs, is better than no coverage at…
Read MoreEntire country’s health insurance premiums are skyrocketing
Nationwide statistics about health insurance premiums between 2003 and 2010 have shown that every state’s costs have been soaring. The state-by-state analysis was performed by a nonprofit health policy foundation called the Commonwealth Fund. What the research discovered was that within that span of seven years, the family coverage premiums soared by an average of 50 percent. The report about the findings predicted that if premiums continue to rise at the same rate, then the average premium paid by a family will explode to almost $24,000 per year by 2020.…
Read MoreNebraska health insurance exchange needs 100k enrollees to be sustainable
The Nebraska Insurance Department has issued a new report to state lawmakers concerning the state’s health insurance exchange. Nebraska has been exploring its options on how best to execute the exchange program, hoping to find a way for the program to benefit both consumers and insurance companies. The state has yet to make any definitive action on the program apart from investigating how much it will cost and how it can be made self-sustaining. The new report may cast some doubt on the future of the program. According to the…
Read MoreCritical illness and accident insurance now available through HM Insurance Group
Highmark Insurance Group has just announced that individuals can now buy accident insurance and critical illness insurance from any of the eight retail facilities for Highmark Direct in Pennsylvania. HM Insurance group is a Highmark company and offers a wide range of protections for accidental injuries and illnesses. Highmark Inc. is Blue Cross and Blue Shield Association independent licensee based in Pittsburgh. According to the Highmark vice president of consumerism and retail marketing, Matt Fidler, accidental insurance and critical illness insurance are a good fit with the other standard health…
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