Although the Affordable Healthcare for America Act by the Obama administration was created in order to make certain that a larger number of Americans will have access to health insurance, many are finding that the premiums are still too costly to be able to afford them. The Act has already gone through some significant improvements since its first creation, especially in terms of Medicare, as it has assisted in lowering those costs. That said, many Americans are still struggling to afford their current health insurance rates or remain without any…
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American Cancer Society opposes exclusion of insurance sales commissions from administration spending limits
Regardless of not having performed a single study or impact analysis on the legislation, the American Cancer Society has recently opposed an effort in Congress to exclude insurance sales commissions from the regulations that control the maximum amount that can be spent on administration by insurers. The reason that the American Cancer Society is standing against the congressional effort is that it claims that it will lead to a rise in insurance premiums. Many argue that there is no proof, numerical, or statistical evidence that would suggest this, but at…
Read MoreHealth insurance rates dropping in light of health care reform
In a strange twist of fate, more health insurance companies are making requests to reduce their premiums. This comes in stark contrast of the trend that has been dominant in previous months where major health insurers sought to increase rates exponentially. Several small companies have been lowering their rates, but big companies are following suit, some seeking permission from insurance regulators to reduce their premiums by as much as 20%. While this move may seem uncharacteristic for the industry, some experts are saying that it is not as altruistic as…
Read MoreExemption request from mandatory health insurance for health care workers
One of the more controversial provisions in the new health care reform law is that U.S. citizens will be required to have some form of health insurance coverage. While the federal government seeks to make this possible through the establishment of health insurance exchanges throughout the country, the fact remains that insurance is expensive. Currently, many citizens receive coverage through their employers, but not every company continues to offer such benefits. Those that do not have these benefits are left to come up with a solution on their own. It…
Read MoreUncertain future for health insurance brokers
A growing number of insurance brokers are concerned for their livelihoods in light of the new health care reform law passed last year. They are urging Congress and state legislators to establish protections that will guarantee agents a role in the emerging online marketplaces that will accompany state health insurance exchange programs. The exchanges are a mandatory provision of the Affordable Care Act and each state must establish their own exchange by 2014. “The brokers are nervous,” said Sabrina Corlette, a professor at Georgetown University’s Health Policy Institute who has…
Read MoreHealth insurance exchange debate over agents role
As states begin to take steps to establish their health insurance exchanges, private insurance agents in West Virginia are not quite enthusiastic of the efforts. State legislators are beginning t debate a pending bill that would create a state-run health insurance exchange. The measure could be passed this week, as Republicans who oppose the bill find themselves in the minority. Independent agent lobbyist, Gary Marion, argues that the bill would hamper agent’s ability to compete in the market. Health insurance exchanges act as a means for individuals and small groups…
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