The Commonwealth Fund, a private foundation working to improve the health care system, has released a new report concerning the state of health insurance premiums in West Virginia. According to the report, premiums in the state have risen by 55% in the last decade, with deductibles jumping by 84% in the same amount of time. The report suggests that the state has the 14th highest premiums in the nation. This puts major financial stress on state residents as West Virginia is home to the lowest median income in the U.S.…
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Health insurance exchange debate over agents role
As states begin to take steps to establish their health insurance exchanges, private insurance agents in West Virginia are not quite enthusiastic of the efforts. State legislators are beginning t debate a pending bill that would create a state-run health insurance exchange. The measure could be passed this week, as Republicans who oppose the bill find themselves in the minority. Independent agent lobbyist, Gary Marion, argues that the bill would hamper agent’s ability to compete in the market. Health insurance exchanges act as a means for individuals and small groups…
Read MoreWest Virginia opts for the “hands off” approach in new health exchange program
The West Virginian Senate has determined that the state will not be running its own insurance exchange program, opting instead to leave the reins in the hands of the federal government. All states are required to establish insurance exchanges by 2014 according to the Affordable Care Act, but they do have the option to choose whether or not to set it up themselves. The legislation that would pave the way for the exchange was shot down by a close voice vote. State Insurance Commissioner, Jane Cline, along with her office,…
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