Blue Cross Blue Shield of Michigan has unveiled a new insurance plan tailored for young adults, which will cost them less than $100 monthly. Called the Young Adult Blue Max plan, the goal is to provide coverage for those between the ages of 19 and 30. The plan offers medical, dental and vision coverage. Preventative care and services are included in the plan. The insurer is claiming that their new coverage plan will prove especially beneficial for young adults striking out on their own. Whether they are starting a career…
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Steps towards health care reform insurance exchange programs
The Department of Health and Human Services has awarded $241 million to seven states to help fund their design and implementation of insurance exchanges. Awarded to “Early Innovator” states, the money will help establish the infrastructure needed to operate the exchanges. The HHS is encouraging that others follow the example set by these states when they begin building their own exchanges. The seven states, Kansas, Maryland, Massachusetts, New York, Oklahoma, Oregon, and Wisconsin, will share the funds – larger states will receive more than smaller states. They were selected based…
Read MorePennsylvania health care for low income families in danger
The low-cost health insurance program for Pennsylvania is on shaky ground today. The low-cost health insurance program for Pennsylvania is on shaky ground today. Providing coverage for more than 40,000 adults, the program is in deep danger of being shut down due to dwindling funds. In a recent announcement, Governor Ed Rendell office stated that money for this program will run dray by the end of February. Governor-elect Tom Corbett is encouraging the state’s nonprofit health insurance providers to allow enrollees into “Special Care” plans, funded by insurers. On…
Read MoreMaine requests an exemption to the Affordable Care Act
Maine’s request for an exemption is still to be determined On Saturday, an important federal health insurance regulation will take effect, Maine’s request for an exemption is still to be determined. Though many other states are expected to file exemptions, they are the only state that has requested an exemption to the Affordable Care Act regulation; their goal is to have health insurance companies keep a minimum “medical loss ratio” of 80%. Companies will have to spend about 80 cents of every insurance premium dollar for health care services and…
Read MoreHigh-deductible health insurance enrollees are on the increase
With a down economy, Americans are changing their health insurance plans to those with higher deductibles, but lower premiums. Health Care Professionals are concerned that patients will not get their routine care, possibly causing serious ailments going undiagnosed. In the long run, this could cost more money because they may end up in the hospital or emergency room. According to Kaiser Family Foundation and the Health Research and Educational Trust’s survey, since 2006, the number of employees with high-deductible plans has almost tripled in companies with less than 200 employees.…
Read MoreNo one signed up for Group Insurance Commission (GIC)
The Group Insurance Commission’s open enrollment for 2011 ended this week and no one signed up for it. This was designed to help municipalities save millions a year. Joel Barrera, deputy director of the Metropolitan Area Planning Council, a planning organization for 101 Boston area communities said, “The experiences of the 31 municipalities and regional government units that have joined the commission since 2007 clearly demonstrate the potential for substantial savings.” Barrera also stated, “We know the GIC saves millions of dollars, but we also know municipalities are not able…
Read MoreRecent ruling regulates health care industry spending
Changes took place on the hill this past short holiday week when the Dept. of Health and Human Services, also known as HHS, released their final ruling dealing with medical loss ratio – a requirement of the new health reform law. This portion of the new act will be effective in 2011 and will closely monitor insurer’s spending. New laws state, 85% of every dollar of revenue for large groups will have to be used towards health care instead of administrative costs, and 80% on individual and small groups too.…
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