California insurance regulators are pushing for new legislation that would institute limitations on a controversial form of health insurance that is targeting small businesses. This coverage is a type of self-insurance that is designed for businesses with 25 or fewer employees. Regulators claim that these policies are being used by health insurers to find companies with the healthiest workers, lowering their risk of costly payouts. Insurance Commissioner Dave Jones is concerned that these policies undermine one of the key principles of the Affordable Care Act: Lowering premiums by allowing insurers…
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Department of Health and Human Services says that health insurance rates are too high in nine states
The Department of Health and Human Services (HHS) has announced that health insurance rates in nine states are far too high to be reasonable. HHS Secretary Kathleen Sebelius has determined that these rates are excessive under the authority granted to the agency by the Affordable Care Act. The law gives federal and state insurance regulators the authority to review health insurance rate increases of 10% or higher and determine whether they are necessary. The insurance companies in these nine states will be requires to justify their rates or make changes…
Read MoreGender gap continues to play an important role in health insurance premiums
According to the latest research issued in a report by the research and advocacy group, the National Women’s Law Center, women continue to pay higher premiums than men for the same health coverage. In 2014, when the new healthcare laws are fully implemented, the discrepancy between what men and women will pay for health insurance will cease, but at the moment, many states continue to see significant gaps between the premiums of men and women without any indication that the insurers intend to shrink them. The report will become available…
Read MoreMillions of Americans may receive rebates from insurers this year
Before the summer draws to a close, millions of people across the United States will be receiving rebates from their insurers, due to the new federal healthcare reform requirements that have placed strict rules on the way that insurance companies spend their earnings. This regulation is not without opposition. The entire insurance industry, along with a large number of state officials, have been battling this rule for some time. Based on the federal regulations that went into effect at the end of 2011, health insurance companies are required to spend…
Read MoreSupreme Court to begin litigation on Affordable Care Act this month
This month, the U.S. Supreme Court will begin litigation on the controversial Affordable Care Act. The federal law seeks to radically change the structure of the country’s health care industry and introduces new insurance regulations that are aimed at benefiting consumers. The Act was signed into law in 2010 and has since been a point of contention for political leaders and legislators throughout the U.S. Many states have backed the Affordable Care Act, but others have filed lawsuits against the federal government, accusing the law of being unconstitutional. The Supreme…
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