In a strange twist of fate, more health insurance companies are making requests to reduce their premiums. This comes in stark contrast of the trend that has been dominant in previous months where major health insurers sought to increase rates exponentially. Several small companies have been lowering their rates, but big companies are following suit, some seeking permission from insurance regulators to reduce their premiums by as much as 20%. While this move may seem uncharacteristic for the industry, some experts are saying that it is not as altruistic as…
Read MoreTag: individual health insurance plans
Oregon’s low cost health insurer takes a rate hike
Last week, Oregon-based Regence Blue Cross Blue shield was called upon to answer concerns from regulators regarding proposed rate increase of 22%. The state’s Insurance Division hosted the public meeting, the first of its kind in more than two decades. 200 Oregon residents attended the meeting to hear firsthand the rationalization behind the rate change proposal. They were also given the opportunity to make comment and question company officials regarding the issue. Regence provides insurance customers to 12% of the state’s population. The insurer often provides affordable coverage for those…
Read MoreExemption request from mandatory health insurance for health care workers
One of the more controversial provisions in the new health care reform law is that U.S. citizens will be required to have some form of health insurance coverage. While the federal government seeks to make this possible through the establishment of health insurance exchanges throughout the country, the fact remains that insurance is expensive. Currently, many citizens receive coverage through their employers, but not every company continues to offer such benefits. Those that do not have these benefits are left to come up with a solution on their own. It…
Read MoreInsurance statistics for 2011 look grim
According to a recent survey, a large percent of the 50 million people in the U.S. who are uninsured, have practically no savings. On the average, families with no insurance can only afford to pay off about 12 percent of their total hospital bill. The uncompensated cost of care (health care the uninsured can’t pay) is more than 70 billion dollars a year. Another survey shows that last year 75 million adults did not get health care they needed; they skipped doctor appointments, went without prescription medication, didn’t go to…
Read MoreLower health insurance premiums with a discount for regular excercise
As health insurance costs begin to rise, largely spurred on by increasing medical costs, many companies are looking for ways to mitigate the inflation. Researchers at the University of Florida are suggesting that companies should begin paying for exercise classes. This initiative could help curb the costs associated with certain high risk groups, such as diabetics. Doctor Marco Pahor, Director of the university’s Institute on aging, led research regarding this concept. Pahor and his team have been conducting this research for the past several decades. “There is solid evidence for public…
Read More
