Climate change is often a controversial issue, especially when the federal government is concerned. The insurance industry, however, is beginning to take the matter more seriously, as a new report shows that purely environmental factors may be causing the high costs seen in the health care system. The report comes from the Natural Resources Defense Council, an international environmental advocacy group based in New York. The report suggests that natural disasters that have struck the U.S. in the past decade may be having a significant impact on the health of…
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Cigna purchased HealthSpring Medicare provider in $3.8 billion deal
Cigna, a global health insurance company based in the U.S., has announced the acquisition of HealthSpring, a health insurer specializing in Medicare Advantage plans. Cigna is looking to expand its presence in the Medicare sector as well as its senior care services. The move may be inspired by an aging populace that will soon enter the ranks of seniority, enabling them to take advantage of new insurance plans. The acquisition is priced at $3.8 billion. HealthSprings serves more than 350,000 Medicare Advantage policyholders across 11 states. The insurer also boasts…
Read MoreLowest health insurance competition found to be in Alabama
According to a recent report from the Kaiser Family Foundation, the least competitive market for health insurance in the United States is in Alabama. The Kaiser Family Foundation is a nonprofit health policy organization and released the report which showed that 86 percent of the policies in the individual market in Alabama were sold by Blue Cross Blue Shield. In the small group market in that state, that insurer sold 96 percent of the policies. Though the report did indicate that individual insurers hold the majority of the insurance markets…
Read MoreDiscontented Occupy Wall Street protesters may soon target the insurance industry
Views on the Occupy Wall Street protests vary depending on which news medium is presenting the issue. Some call the protest a meager gathering of discontented hipsters, while others claim it as a full-fledged revolution that will change the foundation of the nation’s financial industry. Whatever the case may be, the protest continues to generate a great deal of hype and has begun attracting the attention of other industries. The insurance industry, in particular, may be a target as many people see the industry as being at fault for the…
Read MoreIndividual health insurance market gives healthcare reform a boost
CIGNA, the health insurance company, has launched an ad campaign for $25 million that is geared toward strengthening its business in the individual market. According to the Wall Street Journal, individual policies comprise only between 1 and 2 percent of CIGNA’s current revenue. The majority of the insurer’s profits are from insurance that is employer-based. However, as a result of the new healthcare reform laws, individual markets are about to become significantly more lucrative. In fact, the Congressional Budget Office (CBO) has projected that by the year 2019, there will…
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