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…
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Oregon’s low cost health insurer takes a rate hike
Last week, Oregon-based Regence Blue Cross Blue shield was called upon to answer concerns from regulators regarding proposed rate increase of 22%. The state’s Insurance Division hosted the public meeting, the first of its kind in more than two decades. 200 Oregon residents attended the meeting to hear firsthand the rationalization behind the rate change proposal. They were also given the opportunity to make comment and question company officials regarding the issue. Regence provides insurance customers to 12% of the state’s population. The insurer often provides affordable coverage for those…
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 MoreLower health insurance premiums with a discount for regular excercise
As health insurance costs begin to rise, largely spurred on by increasing medical costs, many companies are looking for ways to mitigate the inflation. Researchers at the University of Florida are suggesting that companies should begin paying for exercise classes. This initiative could help curb the costs associated with certain high risk groups, such as diabetics. Doctor Marco Pahor, Director of the university’s Institute on aging, led research regarding this concept. Pahor and his team have been conducting this research for the past several decades. “There is solid evidence for public…
Read MoreMichigan health insurer rolls out new plan geared for youth
Blue Cross Blue Shield of Michigan has unveiled a new insurance plan tailored for young adults, which will cost them less than $100 monthly. Called the Young Adult Blue Max plan, the goal is to provide coverage for those between the ages of 19 and 30. The plan offers medical, dental and vision coverage. Preventative care and services are included in the plan. The insurer is claiming that their new coverage plan will prove especially beneficial for young adults striking out on their own. Whether they are starting a career…
Read MorePennsylvania health care for low income families in danger
The low-cost health insurance program for Pennsylvania is on shaky ground today. The low-cost health insurance program for Pennsylvania is on shaky ground today. Providing coverage for more than 40,000 adults, the program is in deep danger of being shut down due to dwindling funds. In a recent announcement, Governor Ed Rendell office stated that money for this program will run dray by the end of February. Governor-elect Tom Corbett is encouraging the state’s nonprofit health insurance providers to allow enrollees into “Special Care” plans, funded by insurers. On…
Read MoreCourt rules mandatory health insurance is not fair
The latest in health care reform has come to a head with a recently announced Virginia court ruling against forced placed health insurance. This being the first of the lawsuits to rule against the government making American’s purchase health insurance – two other courts have ruled in favor of the mandate. Per a survey conducted by Kaiser Family Foundation, this key factor in Obama’s health care reform is also frowned upon by 7 out of 10 Americans as well. Forced placed health coverage was once opposed by a campaigning Obama…
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