South Carolina is taking the first steps to establishing a working health insurance exchange programs. The state is using money it received from the federal government, an initiative to assist in the formation of exchanges, to build a website that will monitor health insurance rate increases. According to state officials, the website will act as a way for consumers to obtain more information on policies. It will also be used to stem the tide of what state officials consider “unreasonable rate hikes.” The state received more than $1 million in…
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Has Oklahoma started a trend for states opposing health care reform?
If the federal government gave your state more than 50 million dollars, what do you think they would do with it? Would they give it back? It isn’t often that you would see a state turning down federal money, but that is exactly what is happening in Oklahoma. They are turning down 54 million dollars in federal grant money. The 54 million dollars in federal grant funding was going to be given to the state as a part of the new federal healthcare law. The Department of Health and Human…
Read MoreOklahoma sends more than a message back to capital hill
The Oklahoma Insurance Department is sending back more than $1 million in funding to the federal government. The money would have been used to review the state’s health insurance premium regulations. It will never be used for its intended purpose as Insurance Commissioner John Doak asserts that “Oklahomans do not want the federal government making decisions about their health care.” The funds have yet to make their way back to the government – the state is awaiting federal officials to retrieve the money. The money is being returned along with…
Read MoreMany concerned over Maine’s new health insurance law
Lawmakers in Maine have been working toward new health care laws in an effort to improve the state’s insurance market. Yesterday, Governor Paul LePage signed a new law that may clash with federal regulations that will come into effect the being of 2014. The new law will allow insurers to raise rates for older policyholders which, in some cases, can end up being five times higher compared to policies held by younger people. This comes into direct conflict with the provisions of the Affordable Care Act, as do a number of…
Read MoreNew legislation proposed to watch over health insurance rate increases
As one of the provisions of the Affordable Care Act, the nation’s insurance companies will be required to spend at least 85% of the money they collect from premiums on improving the quality of medical care. However, the law does not designate any governing body as the regulatory of the mandate. This has led Senator Dianne Feinstein of California to propose new legislation that would give the Secretary of Health and Human Services regulatory authority over proposed rate increases of 10% or more. Feinstein asserts that insurance premiums are rising…
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