This is an important week for the health insurance industry in Illinois. The state has entered the national limelight as it draws closer to making a decision regarding the establishment of a health insurance exchange. Legislators have been torn on the issue since the passing of the Affordable Care Act in 2010. A law that would make the exchange a reality is currently before the state Legislature and lawmakers are expected to determine the fate of the exchange initiative by the end of the week. If the law is passed,…
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Wisconsin to seek waiver from controversial Affordable Care Act measure
Wisconsin is seeking to obtain a waiver from the federal government that would provide the state’s insurance companies with immunity against a new health care law that would require them to pay at least 80% of the money collected from premiums on medical care. The law is part of the controversial Affordable Care Act, which, as a whole, has been met with varying degrees of opposition from the nation’s insurance industry and legislators. Governor Scott Walker claims that the waiver is necessary for insurers to remain competitive, and hopes to…
Read MoreLegal battle regarding federal insurance mandate to take place in Minnesota this week
The latest development in the ongoing saga of opposition against the federal Affordable Care Act is set to take place the U.S. Court of Appeals for the Eighth Circuit in Minnesota this week. The provision in question is an insurance mandate imposed by the new law that states that all U.S. citizens must purchase some kinds of health insurance or face major penalties. Two Missouri residents have filed a lawsuit against the federal government concerning the matter. While the lawsuit itself comes only from two people, they are backed by…
Read MoreObama administration’s nationwide health insurance framework
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…
Read MoreInstitute of Medicine introduces new recommendations concerning insurance exchanges
Health insurance exchanges are, perhaps, the most accepted provision of last year’s Affordable Care Act. While some states have railed against the notion of the federally mandated program, most have been eager to explore their options. States have been slow to pass legislations making the exchanges possible, but have wasted no time in making preparations for the system. According to a new report from the Institute of Medicine, however, the future of insurance exchanges may be in jeopardy if federal legislators cannot solve the expensive flaws in the system. Exchanges…
Read MoreWellmark Blue Cross/Blue Shield not entirely sold on insurance exchange
The largest insurance provider in Iowa, Wellmark Blue Cross/Blue Shield, is still debating whether or not it wishes to take part in the insurance exchange in the state. If this insurer does not take part, it could be destructive to the entire insurance exchange initiative. The state insurance exchanges are considered to be a key component of the healthcare reform program for the entire country. Supporters of the exchanges are saying that the systems and services they will establish will assist millions of small businesses, families, and individuals to better…
Read MorePerry may repeal healthcare reforms without alternative in state with highest rate of uninsured
Texas has been named the state with the largest number of residents who do not have health insurance, so they should also be one of the states that could receive the most benefit from the health care reforms made by the Obama administration. However, Governor Rick Perry has halted attempts to lay the foundation for the coverage expansion. That said, one of the solutions that Perry is supporting as an alternative to the overhaul is an untested regional effort that may make individual states responsible for Medicare; a method that…
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