Live Insurance News

Program to protect health insurance companies to be expanded

June 19, 2015June 19, 2015 Logan B.

Government plans to expand reinsurance program to protect insurers The Obama Administration has announced that it will be expanding a program that is designed to protect health insurance companies from high claims. The system serve as a reinsurance program, which provides insurers with the protection they need from the risks that they face. Insurers throughout the country will have the chance to pay into the program, which will partially reimburse them for insurance claims that go beyond a certain level. HHS will have the program cover the cost of claims…

Health insurance premiums on the rise throughout the US

June 16, 2015June 13, 2015 Logan B.

Insurers are looking to increase premiums to recover from financial losses Insurance companies offering coverage through exchanges throughout the United States are looking to increase premiums in the coming year. This may not be a surprise, as industry experts and analysts have predicted significant growth in insurance premiums in the coming years. According to analysis from HealthPocket, however, rates are expected to grow by an average of 12% in 2016 for individual policies. Premiums enrolled in the most popular plans, such as Silver tier plans, could increase by as much…

Florida Senate approves ambitious health insurance plan

June 10, 2015June 8, 2015 S.Vagus

Florida Health Insurance Affordability Exchange has received approval from the Senate The Florida Senate has approved a health insurance plan that could expand insurance coverage to a greater number of people. The plan is called the Florida Health Insurance Affordability Exchange, and involves providing those without insurance, and the underinsured, with coverage if they qualify for the program’s services. The state’s Senate approved of the plan this week, but it still faces significant opposition as it moves on to the Florida House of Representatives. Changes to the plan ease the…

Study shows 31 million people are not using their health insurance

May 22, 2015May 21, 2015 Nordstrom

Commonwealth Fund study highlights the complications of medical costs and the health care system The Commonwealth Fund has released a new study called “The Problem of Underinsurance and How Rising Deductibles Will Make it Worse.” The study highlights the fact that many people with health insurance coverage are not actually using this coverage. There are many factors that contribute to these issues, but the high cost of medical care and high deductibles are proving to be a barrier to people using their insurance policies. High deductibles are a barrier for…

200,000 people in South Carolina could gain health insurance due to new proposal

April 16, 2015April 16, 2015 Logan B.

New proposal aims to expand insurance coverage to the working poor in the state A new proposal in South Carolina could extend health insurance coverage to 194,000 uninsured people in the state. The proposal was introduced by a bipartisan group of Senators who suggest that many of these uninsured people only have access to emergency rooms when they need medical care. These people cannot afford health insurance coverage on their own and their employers do not offer sponsored coverage, leaving them with few options when it comes to medical care.…