Tips to Help You Save Money on Health Insurance

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Your health is the most valuable thing you will ever own. You, therefore, need to do whatever it takes to ensure that it is protected. There is no better way to do so than by investing in a good health insurance coverage, which not only provides you financial support but also affects your health positively and gives you peace of mind knowing that everything is covered regardless of what happens. So many individuals do not have health insurance coverage, and that is because they view it as a super expensive…

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Insurance brokers start charging fees to compensate for missing commissions

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These industry professionals have also been limiting their new clients as a strategy to keep up their incomes. Traditionally, insurance brokers have made a significant portion of their earnings via health insurer commissions. However, when it comes to the sale of health plans, considerable changes have been made recently in Massachusetts. Health insurance companies have either eliminated or sizably reduced their commissions to brokers. Therefore, this has forced many brokers to seek new ways of generating an income for the first time. For a large number of brokers, this has…

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Kentucky obtains federal waiver on insurance provisions

Insurance companies in Kentucky have been granted a waiver from a provision of the health care law that requires insurers to spend at least 80% of the money they collect from premiums on improving medical care. The waiver does not remove mandate, however, and insurers will still need to spend 75% of their premiums toward medical care. According to federal law, if companies do not follow this mandate, they must refund the money to policyholders. The state’s Department of Insurance petitioned the federal government for a waiver in an effort…

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American Cancer Society opposes exclusion of insurance sales commissions from administration spending limits

Regardless of not having performed a single study or impact analysis on the legislation, the American Cancer Society has recently opposed an effort in Congress to exclude insurance sales commissions from the regulations that control the maximum amount that can be spent on administration by insurers. The reason that the American Cancer Society is standing against the congressional effort is that it claims that it will lead to a rise in insurance premiums. Many argue that there is no proof, numerical, or statistical evidence that would suggest this, but at…

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The latest battle over Maine health insurance bill

As health care reform continues to be a hotly contested issue throughout the nation, Maine is embroiled in its own battle regarding the state’s health insurance regulations. Earlier this week, a bill was introduced that would seek to overhaul the current regulatory standard in the hopes of increasing competition in the state’s health insurance market, thereby driving down insurance rates. Introduced by Representative Jonathan McKane (R), the bill has received rigid opposition from Democrats who say that consumer protections are being put at risk.  The promise that the bill will…

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Health insurance exchange debate over agents role

As states begin to take steps to establish their health insurance exchanges, private insurance agents in West Virginia are not quite enthusiastic of the efforts. State legislators are beginning t debate a pending bill that would create a state-run health insurance exchange. The measure could be passed this week, as Republicans who oppose the bill find themselves in the minority. Independent agent lobbyist, Gary Marion, argues that the bill would hamper agent’s ability to compete in the market. Health insurance exchanges act as a means for individuals and small groups…

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