Oregon has advanced closer to establishing its own health insurance exchange as the state’s Senate approves of nine people to serve as board members for the exchange. The nine were chosen by Governor John Kitzhaber based upon their backgrounds in the health care, insurance and legislative fields. The state Senate unanimously approved the Governor’s nominees showing that the state’s Legislature is well on its way to forming an exchange that will help residents find affordable health insurance coverage. Governor Kitzhaber believes that part of what will make the exchange successful…
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Oregon’s Regence Group draws the attention of regulators from four states
Oregon insurance regulators have set their sights of the Regence Group, which is part of the Blue Cross Blue Shield insurance group. Mike Kreidler, the state’s Insurance Commissioner, has accused the insurance company of several severe failures that have impacted the lives of thousands of policyholder and even people that are not affiliated with the company in any way. The violations are so serious that Kreidler has issued an order for the company to draft a plan to correct the issues, which is due by the end of this month.…
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…
Read MoreOregon health care reform approved by Senate
Oregon is one step closer to passing a bill that would allow for the creation of a health insurance exchange. Late last week, the House Health Care Committee approved the bill, which will now await a final vote in the Senate. The bill will also establish a public agency that will oversee the exchange and regulate rate changes therein. The agency will be funded from a portion of fees collected by insurance companies that are participating in the exchange program. State officials expect that the program will be operational in…
Read MoreOregon health insurance rates on the rise
Health insurance providers in Oregon have been seeking approval for rate increases for nearly a year. Some may be getting their wish, but will not be able to raise rates as much as they had originally planned. The Oregon Insurance Division of the Department of Consumer and Business Services has granted approval for half of the rate proposals they have been reviewing over the past year. While many companies will not see the increases they had hoped for, consumers stand to save more money on their policies. The Division approved…
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