Live Insurance News

Health insurance rates to spike in Kansas

August 26, 2015August 26, 2015 Logan B.

State regulators approve health insurance rate increases Health insurance rates are expected to go up in Kansas next year. The Kansas Insurance Department has approved rate increases for individual coverage after having received proposals from many companies operating in the state. Rate increases are expected to affect those seeking coverage through the state’s insurance exchange as well as directly from insurers. For some, the premium hikes may present more financial strain, as state regulators have approved significant increases. Premiums expected to rise by an average of 25.4% Initially, some insurers…

US health insurance co-ops are struggling

August 21, 2015August 20, 2015 Nordstrom

HHS audit finds that insurance co-ops are failing to generate profit The Department of Health and Human Services (HHS) recently conducted an audit of 23 health insurance co-ops in the United States and found that the majority are struggling financially. These insurance co-ops were established by the Affordable Care Act to serve as non-profit alternatives to exchanges. The co-ops are operated by the federal government and provide consumers with a way to find relatively inexpensive insurance policies that may not be available through other markets. All but one co-op has…

Missouri falls behind in mitigate increase in health insurance rates

August 7, 2015August 6, 2015 Marc

State has been unable to halt the growth of health insurance premiums Missouri may be falling behind in protecting its residents from significant health insurance rate increases. In 2016, insurance policies are set to become more expensive nationwide due proposals from insurers. Typically, state regulators investigate rate increase proposals in order to determine whether or not they are needed. In Missouri, however, regulators are not tasked to investigate rate proposals. Instead, this burden falls to the federal government, which may be leaving consumers open to significant rate increases that could…

Arizona health insurance co-op is finally finding some traction

August 7, 2015August 5, 2015 S.Vagus

Insurance co-op reports skyrocketing enrollment numbers this year Arizona’s non-profit health insurance co-op has seen a major increase in enrollment following poor enrollment predictions in 2014. Last year, the co-op was audited by the Department of Health and Human Services, which found that enrollment numbers were abysmal, with the co-op only providing coverage for some 869 people. This is only 4% of the co-op’s enrollment target of 24,000, making it one of the worst performing health insurance co-ops in the country. Meritus is finding traction among consumers in Arizona Despite…

HHS Secretary calls for expansion of health insurance programs

August 6, 2015August 5, 2015 Logan B.

Secretary Burwell wants insurance programs expanded in 19 states Department of Health and Human Services Secretary Sylvia Burwell is calling for the expansion of Medicare and Medicaid in 19 states. Burwell suggests that expansion of these programs could provide millions of people with access to health insurance coverage. The 19 states that have decided not to expand these programs account for approximately 4 million uninsured people. Utah is currently the only state in the nation that has not yet decided whether it should expand these programs. Medicare and Medicaid have…

Program to protect health insurance companies to be expanded

June 19, 2015June 19, 2015 Logan B.

Government plans to expand reinsurance program to protect insurers The Obama Administration has announced that it will be expanding a program that is designed to protect health insurance companies from high claims. The system serve as a reinsurance program, which provides insurers with the protection they need from the risks that they face. Insurers throughout the country will have the chance to pay into the program, which will partially reimburse them for insurance claims that go beyond a certain level. HHS will have the program cover the cost of claims…

Legislation aims to expand health insurance in California

June 2, 2015May 30, 2015 Logan B.

State seeks to make insurance coverage accessible to undocumented residents New legislation in California could extend health insurance coverage to undocumented residents. The legislation is currently being considered by the California State Senate Appropriations Committee. If the legislation manages to make its way through the legislative process and becomes law, undocumented immigrants will gain access to health insurance benefits and, perhaps, subsidies that will allow them to afford the coverage that they need. This coverage would be available through the state’s insurance exchange. Estimated 1 million undocumented residents lack insurance…