Live Insurance News

$32 million in funding coming to the Children’s Health Insurance Program

April 21, 2016April 18, 2016 S.Vagus

Federal agency announced more funding for CHIP to ensure children have the coverage they need The Centers for Medicare & Medicaid Services has announced that it will be providing $32 million in funding for the Children’s Health Insurance Program (CHIP). The program has been lacking funding in recent years, which has raised concerns that many children may lose the insurance coverage that they are using currently. The program was established nearly 20 years ago as a way to ensure that children of low-income families would be able to receive the…

Idaho health insurance exchange is struggling to serve consumers

April 18, 2016April 18, 2016 S.Vagus

Your Health Idaho issues bulletin to agents to help resolve one issue consumers are experiencing Your Health Idaho, the state’s health insurance exchange, has issued a bulletin to insurance agents. The bulletin is meant to help agents better serve customers, providing them with information on what to do if people cannot get treatment for life threatening illnesses because they are unable to use their coverage. According to the bulletin, agents should include the term “medical urgent” in the subject line of emails being sent to the exchange. Since the bulletin…

Many consumers lack an understanding of health insurance terms

April 13, 2016April 12, 2016 S.Vagus

New study highlights the education problem that pervades the insurance sector Health insurance in the United States has evolved since the Affordable Care Act and many consumers may still be unaware of how marketplaces have changed. A new study from the Episcopal Health Foundation and the Rice University Baker Institute for Public Policy shows that many people still do not understand certain insurance terms. This lack of understanding is highest among those who have purchased coverage through state insurance exchanges. Some 1.3 million people have acquired coverage, but nearly half…

Health insurance premiums are on the rise in Australia

April 5, 2016April 3, 2016 Logan B.

Large insurers are raising rates by a significant margin Several of Australia’s largest health insurance providers, including Medibank Private Limited and NIB, will be increasing premiums in the coming days. These insurers have been raising premiums annually for the past few years, which has placed many consumers under greater financial pressure. Some of the country’s insurers have also been accused of offering “junk” policies, which offer consumers very limited coverage. With higher premiums and the abundance of these junk policies, many consumers may opt to go without health insurance coverage…

Taxpayers to commit $660 billion for health insurance subsidies in the US

April 4, 2016April 3, 2016 S.Vagus

Subsidies to help cover the cost of coverage for those over the age of 65 are growing This year, taxpayers in the United States will commit more than $660 billion to help subsidize health insurance coverage for those over the age of 65, according to the. The federal agency has released one of its most comprehensive reports concerning the cost of subsidized insurance coverage, highlighting the potential these subsidies have to reduce the national deficit. According to the report, the 2016 tax bill accounts for 3.6% of the country’s gross…

Friendsurance raises funding to support its innovative take on health insurance

April 1, 2016March 30, 2016 S.Vagus

Friendsurance raises $15.3 million in latest round of funding led by Horizon Ventures A unique type of health insurance company has emerged to raise a significant amount of funding to aid its expansion. Friendsurance, a peer-to-peer insurance company, has announced that it has raised $15.3 million in funding, led by Horizon Ventures. The insurer aims to change the way people look at insurance coverage and how they acquire this coverage and handle premiums. The company may be able to change the way that insurance works in the future through its…

Australian companies accused of selling “junk” health insurance policies

March 29, 2016March 27, 2016 Logan B.

Consumer advocacy group Choice calls out private insurance providers in Australia Three of Australia’s largest private health insurance companies have been named by Choice, a consumer advocacy group, for offering what it calls “junk” policies. According to Choice, these policies are expensive, but provide relatively little benefits when compared to what can be obtained through Australia’s Medicare system. Policies obtained through this system are less expensive and may be a better option for consumers that need insurance coverage. Junk policies provide less than 1% coverage for several medical services Among…