A new study from ADP has found the it is the large companies that pay the most for coverage. The results of the latest research by Automatic Data Processing (ADP) have been released in a recent report, which has indicated that it is the residents of New Jersey who work for large businesses that typically pay the highest amount for their health insurance premiums. This is the case in New Jersey more than in any other state, said the ADP study. The research showed that the average New Jersey employee…
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Health insurance savings on its way for residents of New York
Those living in the state will be saving over $500 million on coverage premiums this year. Andrew Cuomo, the Governor of New York state, has just announced that the new power that has been given to the state to limit the increases in health insurance rates is already showing its benefits to the residents of the state. The state has limited a number of increases that insurers had proposed within the state. Cuomo said that this year alone, New Yorkers will not have to pay the over half a million…
Read MoreHealth insurance costs have risen by 62 percent
Family coverage has skyrocketed since 2003, showing the increasing expense for those paying for plans. According to the latest health insurance data from the Commonwealth Fund in a recently released report, the total cost for a family plan – for both employers and for employees – broke the $15,000 mark last year, which represented an increase of 62 percent since 2003. Wages, on the other hand, increased by only 11 percent during that same period of time. The cost of commercial health insurance has undergone an increase in its price…
Read MoreHealth insurance fee may be added to reforms
The healthcare overhaul may include a new expense that could reach the wallets of consumers. The overhaul of the health insurance system may now involve a new $63 per person fee that is designed to help to pad the cost of providing coverage to individuals who have a pre-existing medical condition. This additional charge was worked into a recent regulation that was created for the system. According to employers, who are greatly displeased with the health insurance fee, it could lead to tens of millions of dollars for the biggest…
Read MoreNew Jersey: Government run health plan looking to close their doors
In New Jersey, hundreds of cities and school districts have saved a fortune by taking part in the state’s relatively unknown benefits program. For the past three years, an increasing number of people are dropping the insurance policies they bought from big name companies in favor of the state’s program. Some legislators are looking to change that by proposing a new bill that could severely inhibit the program. Stephen M. Sweeney, the State Senate president, is proposing legislation that would prohibit the state run insurance program from accepting new members.…
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