Live Insurance News

12.7 million people enroll for health insurance coverage in the US

February 12, 2016February 11, 2016 S.Vagus

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HHS reports that more people signed up for insurance coverage in 2016 than they did in 2015 The Department of Health and Human Services has released data showing that 12.7 million people throughout the United States have enrolled for health insurance coverage through exchanges for 2016 coverage. Enrollment numbers surged during the last hours of the open enrollment period as consumers scrambled to acquire the health insurance policies they need to avoid a federal penalty. The open enrollment period seems to have been a success, ensuring that more people than…

President Obama seeks to make changes to controversial health insurance tax

February 11, 2016February 9, 2016 Nordstrom

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Obama to introduce changes to Cadillac tax with his 2017 budget plan President Barack Obama has plans to introduce changes to the controversial “Cadillac tax” that was approved in late 2015. Unlike the name suggests, the Cadillac tax has nothing to do with auto insurance. Instead, it is focused on health insurance, particularly plans that are sold in the private market. President Obama is set to introduce the changes he wishes to make to the tax when he announced his 2017 budget plan next week. Cadillac tax has been a…

Over 200,000 people enroll for health insurance in Washington

February 10, 2016February 9, 2016 S.Vagus

Washington consumers find the coverage they need through the state’s insurance exchange The open enrollment period for health insurance exchanges has ended and more than 200,000 people have enrolled for coverage in Washington. State officials note that more people may have attempted to acquire coverage through exchanges, but were unable to due to technical difficulties. Those that experienced computer issues are being encouraged to contact Washington Healthplanfinder in order to complete the enrollment process. Though the open enrollment period is over, those with partially completed enrollment applications could be granted…

Health insurance company put under state supervision in Alaska

February 4, 2016February 3, 2016 Nordstrom

Alaskan regulators place Moda Health Plan under supervision due to financial concerns The Alaska Division of Insurance has announced that Moda Health Plan, a health insurance company based in Oregon, will no longer be offering policies in the state. Regulators cite concerns regarding the insurer’s financial situation. Moda will not be accepting new customers or renewals for the time being and regulators will continue to evaluate the issue. In its home state of Oregon, Moda was placed under supervision by the state due to financial issues, which influenced the decision…

Health insurance premiums set to grow in Tennessee

February 3, 2016February 2, 2016 Marc

BlueCross Blue Shield intends to raise rates for 2017 coverage BlueCross BlueShield of Tennessee is preparing to request for additional rate hikes in the coming months. The company is the largest health insurance provider in the state and is looking to raise premiums in an effort to overcome financial losses. The insurer has estimated that it will have lost $150 million by providing insurance policies through exchange marketplaces. Exchanges were designed to make coverage more accessible, something which they managed to accomplish quite well. Insurers are fighting financial losses by…

Consumers in Texas going uninsured due to the high cost of health insurance

February 2, 2016January 31, 2016 Logan B.

High cost of insurance policies leads many to avoid the coverage that they need Many people in Texas still lack health insurance coverage, but these uninsured people are unlikely to acquire coverage due to its high cost. A new report from the Rice University’s Baker Institute for Public Policy and the Episcopal Health Foundation shows that many people are struggling to pay for insurance coverage, which has lead them to avoid purchasing policies altogether. an estimated 20% of uninsured Texans noted that they simply do not want health insurance coverage…

Young consumers weigh the cost of health insurance and federal penalties

February 1, 2016January 31, 2016 S.Vagus

Young adults are not convinced that insurance coverage is a viable financial option Young adults in the United States have faced a difficult decision during the latest open enrollment period. As open enrollment comes to an end, young and health consumers have had to decide whether or not to purchase health insurance coverage or face a federal fine and which of the two may end up being more expensive. Notably, the fine for those without insurance has gone up in 2016, which may have influenced many young people’s decision to…