Tag: health insurance policy

Louisiana will not build a health insurance exchange

Marc
Health insurance industry news federal government

Louisiana rejects plans to build an exchange program Louisiana has become the latest state to inform the Department of Health and Human Services that it will not run its own health insurance exchange. The state has been examining the viability of an exchange program for some time, but has been fundamentally opposed to the overarching Affordable Care Act. The state’s stance on the health care reform law has put it at odds with the federal government’s insistence that states build a working health insurance exchange. Governor Jindal notifies federal agency…

Read More

Illinois health insurance exchange making progress

Nordstrom
Illinois Health Insurance Exchange

Legislators continue to push for Illinois health insurance exchange The Illinois health insurance exchange is on track to comply with federal regulations and deadlines. State officials have been making progress in building the state’s own exchange program, hoping to have one established before being confronted by deadlines from the federal government. Thus far, progress has been modest, but promising. The state is now reviewing five bids from companies and organizations interested in building the exchange program. Legislators are expected to choose one of these bidders within the coming months. State…

Read More

Aetna provides individual health insurance policies to Illinois Costco members

Health insurance sold at costco

Aetna has announced a new individual health insurance plan for members of Costco in Illinois. Aetna has just unveiled its latest individual health insurance product which is now being offered to residents of Illinois with a Costco membership. The product is called the Costco Personal Health Insurance program, and it offers five different types of policies from which its members can choose. These offer a wide doctor and hospital network, a range of different major medical benefits, as well as a spectrum of useful services, information, and tools that are…

Read More

Medical loss ratio provision could have saved Illinois residents millions according to Commonwealth Fund report

S.Vagus

Health care reform medical loss ratio study The Commonwealth Fund, an independent foundation based in New York that researchers health care policies, has released a new report concerning the medical loss ratio (MLR) provision of the Affordable Care Act. The MLR provision requires insurance companies to spend no less than 80% of the money they collect from premiums on improving medical care. If insurers cannot meet this standard, the money must be returned to policyholders. The provision took effect in 2011, but has been mired in litigation and bureaucracy, which…

Read More

California insurance regulators clash with Aetna over insurance rate hikes

Marc

California health insurance industry go head to head with regulators Aetna Life Insurance has raised the health insurance rates for small employers in the state of California this month. The company has plans to raise rates by an average of 8% for this sector each year. The plan has struck a chord with the state’s insurance regulators, with Insurance Commissioner Dave Jones accusing the company of being unreasonable. According to the state’s Department of Insurance, Aetna’s health insurance rates for small businesses will jump by more than 30% over the…

Read More

Xavier University decides to cut contraceptive coverage for employees

S.Vagus

The Xavier University of Ohio will be making cuts to the insurance it offers employees in July of this year. The university, which is one of the oldest Catholic colleges in the country, will stop providing coverage for birth control, railing against rules imposed by the federal government requiring all faith-based organizations to provide such coverage to their employees. The university’s decision has struck a chord with the Obama administration, which is now accusing the college of standing in the way of a regulation that would be beneficial to women’s…

Read More

Things you might not know about group health insurance

Julie Campbell

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 More