Live Insurance News

Health insurance deductibles are on the rise in the United States

February 16, 2016February 13, 2016 Logan B.

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Consumers are facing higher deductibles for their health care plans More people than ever before have been able to acquire health insurance coverage, particularly through exchange marketplaces, but they are beginning to encounter a problem they may not have expected: Growing deductibles. Deductibles for employer-sponsored coverage have grown by 67% since 2010, according to the Kaiser Family Foundation. HealthPocket, a health plan comparison site, shows that the average deductible for the least expensive coverage available through exchanges stands at $5,700 for 2016. Deductibles are higher for policies with low premiums…

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…