InstantHealthInsuranceQuotes.com, a premium aggregation website, has released a new report that shows how employees in California are beginning to pay more for their insurance coverage. The report suggests that employers are trickling down the cost of coverage to their employees in an attempt to offset the cost of insurance. This is largely due to the rate at which health insurance premiums are rising. Some employers claim that rates are rising to levels that they can no longer support without more help from workers. The company’s report is based on a…
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California insurance program a major success among those with pre-existing conditions
California may have been the last state to launch an interim health insurance program before the Affordable Care Act takes effect, but its program is now ranked the second most successful behind that of Pennsylvania’s. The program began several months after the health care reform law was passed. It was created to offer those with pre-existing medical conditions, such as cancer and diabetes, access to affordable health insurance policies. The state received an unexpectedly high federal grant to promote the program, which saw its enrollment skyrocket in recent months. When…
Read MoreCalifornia is among the worst states in the country for residents without health coverage
The results of a new study are showing that in 2010, California was the state with the most residents – approximately 7 million – who do not have health insurance coverage. According to the California HealthCare Foundation’s data, around 1 million children and 6 million residents under the age of 65 did not have health insurance. Among the nonelderly population of the state, an average of 21 percent were not covered by health insurance over the three years from 2008 through to the end of 2010. On the national list,…
Read MoreReport shows insurance is an economic player in California
A new report has shown that the property and casualty industry for California insurance is responsible for bringing billions of dollars into the state. The report, which was released by the Insurance Information Institute, showed that in 2008, that sector of the insurance industry brought $34.7 billion into the economy. It also showed that insurers are responsible for approximately 2 percent of the total gross state product for California. In fact, in that state, there are more insurance professionals employed than in any other state in the country. In 2009,…
Read MoreAmerican employers are using more insurance plans with high deductibles
A new survey has shown that employers in the United States who are struggling to manage the increasing costs of healthcare insurance are broadening the use of plans with high deductibles to help to keep the monthly premiums at a more affordable level, since more of the burden of medical expenses is falling on the employees. A Mercer benefits consulting firm survey, which involved the participation of 2,844 public and private employers, showed that this year, 32 percent of businesses that employ more than 500 people now have high-deductible health…
Read MoreForecast predicts a third of companies will cut health benefits
A new study from prestigious consulting firm McKinsey & Company suggests that as much as 30% of the nation’s employers will be making drastic changes to the insurance they provide to their employees. The firm suggests that the more these companies learn about upcoming insurance changes stemming from last year’s Affordable Care Act the more likely they are to make such changes. The study anticipates that these businesses will cease offering health care benefits or restrict access to such benefits to a select few in their service. If the study…
Read MoreCalifornia health insurer holds off on rate increase
WellPoint Inc., one of the nation’s top health insurers based in California, announced earlier this year that it would be raising premiums on individual policies by 16.4%. After increased pressure from state legislators and insurance commissioner Dave Jones, however, the insurer has proposed a new increase of no more than 9.8%. Furthermore, the company has heeded Jones’ call for delays on rate hikes and has announced that the increases will not take effect until July. According to Jones, the rate increases will affect more than 600,000 policyholders in the state.…
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