The Department of Health and Human Services announced on Friday, August 12, 2011, that California would be receiving over $38 million from the $185 in total funds that were being distributed among 13 states and Washington D.C., in order to assist with the development of state health insurance exchanges which are required under the nationwide health reform laws that went into place last year. On the same day, the Department of the Treasury, in conjunction with the HHS, issued the proposed rules that the states would need to follow for…
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Government doles out millions to help states build health insurance Internet-based marketplaces
The nation continues is slow, arduous trek toward the inevitable establishment of health insurance exchanges. Until very recently, the federal government has been very lax in terms of enforcing the mandate established by the Affordable Care Act that requires each state to erect their own insurance exchange program. Officials with the Department of Health and Human Services had originally wanted to allow time for states to warm to the notion of the exchanges, but have only been met with lukewarm interest. In fact, the rate at which states are building…
Read MoreTech companies fight for their share of the emerging insurance exchange market
As the U.S. government continues to push insurance exchanges, a growing number of tech companies are beginning to compete for their share of the infrastructure that will make up the new insurance programs. Exchanges are to be constructed as electronic marketplaces where consumers can find a trove of affordable health care policies. Doctors will be able to use the system as an electronic storage for medical records, allowing other health care professionals, and insurance companies with appropriate authorization, access to a patient’s medical history. Technology firms are now vying for…
Read MoreMedica gets ahead start on the digital insurance market
Medica, a health organization that provides insurance to Wisconsin and Minnesota, has announced plans to launch a new plan for businesses that will give them an opportunity to rein in soaring medical costs. The new plan will also allow policyholders more freedom in tailoring their plans to better suit their needs. The plan, however, will be more expensive than its counterparts, a fact that does not sit well with some consumers who say the last thing people need in a troubled economy is more expensive coverage options. The insurer has…
Read MoreOregon’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…
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