Governor Rick Snyder (Michigan) has unveiled his plans for implementing one of the primary healthcare reforms from the Obama administration – the statewide affordable health insurance marketplace for consumers – by proposing legislation that would turn the task over to a non-profit organization. Snyder made the announcement in his first major speech about healthcare, in which he made a call for the forming of the MIHealth Marketplace. This would be a non-profit group that would supervise the sale of health insurance to small businesses struggling to be able to offer…
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New website allows Nevada consumers to review and respond to health insurance rate increases
The Division of Insurance in Nevada has announced the launch of the new Nevada Health Rate Review website that is available to consumers and small businesses in the state, to allow them to review health insurance rate hikes, as well as leave their own comments. The website was created in order to comply with a part of the Affordable Care Act (ACA) which began September 1, 2011. This federal law demands that the state offer a way for small businesses and consumers to leave their comments regarding rate hikes that…
Read MoreThe criteria that states must meet for health insurance exchange marketplace
The Department of Health and Human Services (HHS) is awarding 13 states as well as Washington D.C. a total of $185 million to help to fund the planning and creation of the state-based insurance exchanges that are required by the federal healthcare overhaul. Each will receive a different amount as their portion of the total. For example, California will receive $38 million in order to create its exchange. The governors of the recipient states received a letter from secretary Kathleen Sebelius of HHS, which described the various options and resources…
Read MoreIdentifying the insurance needs of a small business
One of the single most common problems with commercial insurance is, most small business owners understand that insurance is a necessity, but they struggle to understand what form of insurance is right for them. The need to make sure they have all of the coverage for their particular business, which can be very challenging, and no one wants to end up paying for more than they require. Often, it is advised that small business owners seek professional advice from trustworthy sources, such as an accountant, or an insurance broker or agent that specializes…
Read MoreNew health insurance exchanges may encourage entrepreneurship
Under the new healthcare reforms, insurance exchanges are being established within each state so that uninsured individuals will be better able to find affordable policies, making experts wonder if the risk of self employment will therefore decrease to the degree that it will become appealing to individuals who had feared losing the health insurance they have through their employer. These health insurance exchanges will be in operation by 2014. In July 2011, the Department of Health and Human Services released the exchange setup guidelines, leading more than half the states…
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