Live Insurance News

Health insurance deadlines for exchanges will be tight

July 2, 2013July 1, 2013 G. Turner

The dates are rapidly approaching and states and IT firms are scrambling to have everything finished in time. IT firms are in the midst of creating health insurance exchanges that are cloud based and allow for connection with both the states and a federal data hub in order to support determination of eligibility for users. However, the deadline for open enrollment is October 1, and that time is rushing up very quickly. The health insurance exchanges must be open and ready for enrollment by October 1, 2013, according to the…

Insurance news made by the goodwill of the internet community for bomb victim

April 22, 2013April 20, 2013 Julie Campbell

An uninsured hero from the bombing in Boston has had his story go viral and people want to help. The story of a man who lost both of his legs in the bombing at the Boston Marathon has started making insurance news, as the world discovered that despite his injuries, he was a part of the identification of the attackers. The man’s name is Jeff Bauman, who is uninsured and who helped to I.D. the bombers. The insurance news story went viral very quickly and the internet community responded with…

Medical loss ratio provision could have saved Illinois residents millions according to Commonwealth Fund report

April 9, 2012April 9, 2012 S.Vagus

Health care reform medical loss ratio study The Commonwealth Fund, an independent foundation based in New York that researchers health care policies, has released a new report concerning the medical loss ratio (MLR) provision of the Affordable Care Act. The MLR provision requires insurance companies to spend no less than 80% of the money they collect from premiums on improving medical care. If insurers cannot meet this standard, the money must be returned to policyholders. The provision took effect in 2011, but has been mired in litigation and bureaucracy, which…

California insurance regulators clash with Aetna over insurance rate hikes

April 7, 2012April 6, 2012 Marc

California health insurance industry go head to head with regulators Aetna Life Insurance has raised the health insurance rates for small employers in the state of California this month. The company has plans to raise rates by an average of 8% for this sector each year. The plan has struck a chord with the state’s insurance regulators, with Insurance Commissioner Dave Jones accusing the company of being unreasonable. According to the state’s Department of Insurance, Aetna’s health insurance rates for small businesses will jump by more than 30% over the…

California pushes for insurance exchange despite fate of Affordable Care Act

April 7, 2012April 6, 2012 S.Vagus

California health insurance news update California seems to be moving ahead with its plans to build a health insurance exchange despite the current controversy surrounding the Affordable Care Act. The federal health care law is currently awaiting ruling from the Supreme Court after lengthy and uncomfortable litigation last month. Speculation suggests that the Court may rule the law as unconstitutional, or at least a part of which, which means that states would no longer be required to build insurance exchanges. California lawmakers are well aware of the possibility that the…