Despite daunting opposition, the Department of Health and Human Services has remained firm on the medical loss ratio provision of the Affordable Care Act. The medical loss ratio provision requires that insurers pay no less than 80% of premium money on improving medical care. The provision has gained rabid opposition from the nation’s health insurance companies, who have been fighting to have administrative expenses and independent insurance broker fees removed from the mandate. The HHS, however, has issued a final ruling on the matter, claiming that most of the nation’s…
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Affordable Care Act offers women greater access to preventive services
Preventative health care has been a chronic challenge in the American healthcare system, but due to the fact that chronic diseases – which make up about 75 percent of the country’s health spending, and that they are the cause of 70 percent of deaths every year – are frequently preventable, this type of healthcare is now being pushed into the spotlight. Affordability has been one of the main problems holding back preventive services. Currently, most of these therapies, even those with insurance coverage, are subject to cost sharing, such as…
Read MoreDepartment of Health and Human Services approves full coverage of birth control
The U.S. Department of Health and Human Services (HHS) has released a statement that included new guidelines regarding the required full coverage of a number of women’s preventative services – such as voluntary sterilization and birth control – by health insurance companies from August 1, 2012 onward. Secretary Kathleen Sebelius from the HHS explained that the department’s decision was made as a part of the strategy from the Affordable Care Act to halt problems before they occur. In a press release, she said that the new coverage guidelines “are based…
Read MoreConsumers and small businesses may turn to CO-OP into affordable opportunities
The Affordable Care Act will soon be providing consumers and small businesses with the opportunity to take advantage of their state Affordable Insurance Exchange, so that they can obtain cheaper healthcare through a new form of health plan known as a Consumer Oriented and Operating Plan (CO-OP). CO-OP health insurers are private and non-profit, with a board comprised of members, so that affordable, high quality health plans will be available in a consumer-friendly way across every state. The proposed standards for the establishment of CO-OP health insurance plans were outlined…
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