California health insurance industry being eyeballed Consumer Watchdog, a non-profit advocacy group focused on the insurance industry, has proposed a new ballot initiative to the California Legislature that would put a stop on rising health insurance premiums. The organization claims that the state’s largest insurance companies have increased premiums by 20% since April 1, 2012. Consumer Watchdog suggests that these companies will raise rates a second time in May, and increase that will likely be 20% again. These higher rates have affected more than 1 million Californians, many of whom…
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Things you might not know about group health insurance
Though most people feel that group health insurance – such as the plans offered by many employers – are highly beneficial, it should be noted that they were not all created equal, and that there are many surprising things that consumers can learn about those policies that might change their opinions about their value. Consider the following often unknown issues regarding group health insurance: • Some group health plans don’t provide pregnancy coverage – as a result of the Pregnancy Discrimination Act of 1978, the majority of health insurance plans…
Read MoreDay two of Affordable Care Act hearing in Supreme Court focuses on controversial insurance mandate
The Supreme Court began its second day of hearing the case against the controversial Affordable Care Act on Tuesday this week. The focus of day two was centered on whether Congress could require Americans to purchase health insurance. The Obama administration’s top lawyers were ready to defend the insurance mandate imposed by the health care law, but conservative Justices of the Court were quick to issue their concerns regarding the matter. This could signal some serious problems for the future of the Affordable Care Act. Only three minutes into the…
Read MoreFormer health insurance executive calls for health care reform
The Affordable Care Act has made its way to the U.S. Supreme Court, making the fate of federal health care reform unknown. The subject of reform has been on steeped in controversy for more than two years. Opponents of the reform claim that the law is unconstitutional, while its supporters say that changes are needed to ensure the continued stability of the country. Like politicians, the insurance industry has been divided on the issue. Unlike politicians, however, the industry is keenly tuned to what changes need to be made to…
Read MoreCalifornia insurance regulators clash with insurers over coverage for small businesses
California insurance regulators are pushing for new legislation that would institute limitations on a controversial form of health insurance that is targeting small businesses. This coverage is a type of self-insurance that is designed for businesses with 25 or fewer employees. Regulators claim that these policies are being used by health insurers to find companies with the healthiest workers, lowering their risk of costly payouts. Insurance Commissioner Dave Jones is concerned that these policies undermine one of the key principles of the Affordable Care Act: Lowering premiums by allowing insurers…
Read MoreDepartment of Health and Human Services says that health insurance rates are too high in nine states
The Department of Health and Human Services (HHS) has announced that health insurance rates in nine states are far too high to be reasonable. HHS Secretary Kathleen Sebelius has determined that these rates are excessive under the authority granted to the agency by the Affordable Care Act. The law gives federal and state insurance regulators the authority to review health insurance rate increases of 10% or higher and determine whether they are necessary. The insurance companies in these nine states will be requires to justify their rates or make changes…
Read MoreGender gap continues to play an important role in health insurance premiums
According to the latest research issued in a report by the research and advocacy group, the National Women’s Law Center, women continue to pay higher premiums than men for the same health coverage. In 2014, when the new healthcare laws are fully implemented, the discrepancy between what men and women will pay for health insurance will cease, but at the moment, many states continue to see significant gaps between the premiums of men and women without any indication that the insurers intend to shrink them. The report will become available…
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