The federal government has – through the announcement of a framework for the Obama administration’s basic benefits package for Americans who are privately insured –made public its decision to play a vital role in the healthcare of the country, and the reforms it has made to it. The Institute of Medicine, a non-government, independent organization, has released a report with the guidelines for what is called the “essential benefits package”, as well as the way in which it will be kept affordable for both taxpayers and small businesses, while it…
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Survey shows workers often misinformed about costs of employer health insurance
A national survey conducted for eHealthInsurance between the months of September and October 2011, by Kelton Research, has shown that only 47 percent of participants who had employer-sponsored coverage are capable of stating with confidence the amount of their health insurance premiums that is covered by their salary and how much is paid by the employer. The survey also showed that 35 percent of the respondents who had employer-sponsored coverage were able to state how much the annual deductible for their plan was, and only 33 percent of the participants…
Read MoreHealth insurance price increases may slow next year, shrinking profits for smaller insurers
An analyst at Wedbush has released estimates that have shown that in 2012, there may be a slowing in the rising cost of health insurance, but that this may cause smaller insurers that concentrate on commercial coverage to achieve smaller profit margins. The Wedbush analyst, Sarah James, released a research note that showed that employer and insurer surveys have been indicating that price increases will be slower next year than they were in 2011, as a result of some of the health care reform elements having been implemented. Though this…
Read MoreNew California laws bring promising changes to the state’s insurance industry
California Governor Jerry Brown signed into law a number of health care legislations this month. Many of the laws were designed to bring affordable health insurance to those in greatest need. The new legislations are expected to make some major changes to the state’s health insurance industry as they introduce stiffer regulations concerning rates and practices. Small businesses in the state will be afforded a number of benefits from the laws in the hopes of ensuring employees are able to keep their insurance benefits. Of note, Senate Bill 51 will…
Read MoreStudy shows cost for employees for health insurance is set to rise
The findings of an Aon Hewitt study are showing that the average per-employee cost for health insurance will increase beyond the $10,000 mark in 2012, regardless of the fact that costs are rising more slowly than the current 2011 rate of 7.5 percent. The rate for healthcare premiums is expected to increase by 7 percent, but the actual cost of premiums for each employee is forecasted to be over $10,400. When compared to the 2010 figure of less than $9,800, the 2012 is notably higher. Workers will be responsible for…
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