Florida to build an independent insurance exchange exclusively for small business

Amidst ongoing controversy surrounding the federal health care laws, Florida has opted to take its own approach on a mandated insurance marketplace. The law requires that all states have a working health insurance exchange in place by 2014. The exchanges are meant to be an online insurance marketplace where consumers can find affordable policies. Florida stood in opposition for the federal health care law since it was passed in 2010, and state legislators have expressed their discontent for the exchange initiative in the past. Now, the state is attempting to…

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A federal report reveals that private insurers are indebted to the Florida government

The state of Florida stands to receive a large sum of money in reimbursement after several private health insurers overstated how much they had spent on patient care. The insurers, who participate in the State Children’s Health Insurance Program, owe state health officials $3.1 million, according to a new federal report from the Department of Health and Human Services. In accordance with the health care reform of last year, insurers are required to spend no less than 85% of the money they collect from premiums on medical services. Any shortfalls…

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