Though most people feel that group health insurance – such as the plans offered by many employers – are highly beneficial, it should be noted that they were not all created equal, and that there are many surprising things that consumers can learn about those policies that might change their opinions about their value. Consider the following often unknown issues regarding group health insurance: • Some group health plans don’t provide pregnancy coverage – as a result of the Pregnancy Discrimination Act of 1978, the majority of health insurance plans…
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Employees look to cancer insurance to fill the gap left by employers’ high deductible health coverage
Employers in California, as well as across the country, are attempting to cut the costs… associated with the skyrocketing medical insurance premiums by choosing higher deductible health coverage that shifts some of the expense to the employees. In response, many of those employees are looking to supplemental health plans like cancer insurance as a way to fill in the gaps that are being left behind by that employer sponsored insurance. Though these efforts were not very common as recently as two years ago, they are increasingly becoming the norm. That…
Read MoreThe increased popularity of health plans with high deductibles are causing workers to pay more
As a growing number of companies are seeking to be able to continue to afford to provide their workers with health insurance, plans with high deductibles are becoming increasingly popular and are requiring those employees to pay more while receiving less. According to the Employee Benefit Research Institute’s survey data from December, 2011, 27.7 million people of working age had a health insurance plan with a deductible of a minimum of $1,000 for individuals and a minimum of $2,000 for families. According to the report on the survey, the percentage…
Read MoreGallup survey shows that employer provided health insurance is disappearing
A new survey from the Gallup Organization, a consultation and polling company, shows that employer sponsored health insurance is on the decline. The survey began on January 1 of 2011 and came to its conclusion on December 31 of the same year. Declines in insurance coverage are a persistent trend in the U.S. despite claims from the federal government. The Obama administration insists that the Affordable Care Act has brought coverage levels to an all time high. While this may be true for young adults, this is not the case…
Read MoreVermont to begin working toward a health insurance exchange by the end of the year
Vermont lawmakers are expected to determine how the state will build its own health insurance exchange system by the end of this year. The state has been sluggish in its efforts to build an exchange due to some uncertainty and lack of guidance from the federal government. The Department of Health and Human Services, the agency that oversees the exchange effort throughout the country, has granted states with enough flexibility to establish an exchange in a way they see fit. Vermont’s slow pace may put the exchange effort at risk…
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