Live Insurance News

US health insurance co-ops are struggling

August 21, 2015August 20, 2015 Nordstrom

HHS audit finds that insurance co-ops are failing to generate profit The Department of Health and Human Services (HHS) recently conducted an audit of 23 health insurance co-ops in the United States and found that the majority are struggling financially. These insurance co-ops were established by the Affordable Care Act to serve as non-profit alternatives to exchanges. The co-ops are operated by the federal government and provide consumers with a way to find relatively inexpensive insurance policies that may not be available through other markets. All but one co-op has…

Missouri falls behind in mitigate increase in health insurance rates

August 7, 2015August 6, 2015 Marc

State has been unable to halt the growth of health insurance premiums Missouri may be falling behind in protecting its residents from significant health insurance rate increases. In 2016, insurance policies are set to become more expensive nationwide due proposals from insurers. Typically, state regulators investigate rate increase proposals in order to determine whether or not they are needed. In Missouri, however, regulators are not tasked to investigate rate proposals. Instead, this burden falls to the federal government, which may be leaving consumers open to significant rate increases that could…

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…

Legislation aims to expand health insurance in California

June 2, 2015May 30, 2015 Logan B.

State seeks to make insurance coverage accessible to undocumented residents New legislation in California could extend health insurance coverage to undocumented residents. The legislation is currently being considered by the California State Senate Appropriations Committee. If the legislation manages to make its way through the legislative process and becomes law, undocumented immigrants will gain access to health insurance benefits and, perhaps, subsidies that will allow them to afford the coverage that they need. This coverage would be available through the state’s insurance exchange. Estimated 1 million undocumented residents lack insurance…

Health insurance companies being placed under guidance of HHS

May 27, 2015May 25, 2015 Marc

Trumpcare health insurance investigation

HHS guidance will ensure that companies adhere to federal law The U.S. Department of Health and Human Services (HHS) has issued a guidance to health insurance companies that are in violation of one of the provisions of the Affordable Care Act. The provision in question involves insurers providing coverage for contraceptive care. The HHS seems to have made this move following a report released by the Kaiser Family Foundation, which showed that many insurers are not offering coverage for contraceptives as required by federal law. Some insurers are not offering…