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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Oklahoma 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 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…
Read MoreThe battle over health care reform dominance continues with a few good swings
The newly enacted Health Reform law is taking hits again. The House Republicans voted to repeal grant funding for a part of the health care law that would create insurance exchanges across the states. These marketplaces would let individuals and (small) businesses shop and compare policies and their prices. The Republicans voted to deny the funding for the insurance marketplace plan, which is a key element of the reform law. The Republicans feel that it gives too much power to the government to set coverage and plan details. The Republicans…
Read MoreColorado: Health Insurance Exchange Provision Won Over by Majority
Colorado has been the scene of an intense legislative battle regarding health insurance exchanges. As part of the Affordable Care Act, the provision has enemies among the Republican, most notably in the Tea Party sect. However, the many high ranking members of the Republican Party support exchanges, saying that it will benefit residents of the state more than hurt them. Despite this support, the bill that would make the exchange possible was in peril late Wednesday night. Senate Bill 200 was originally proposed by Amy Stephens, the House Majority Leader.…
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