The number of uninsured Americans may be high, but their ability to save money on medical procedures has never been easier. For years, insurers have been raising rates on coverage claiming that the cost of medical care is spiraling out of control. All states are required to build health insurance exchanges – virtual marketplaces where consumers can find affordable insurance coverage – but these programs are still two years from being enacted in most states. For those without insurance, a new way to obtain medical care at a low price…
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WellPoint shares drop following second quarter Medicare spending analysis
Shares of the health insurance company with the highest enrollment, WellPoint Inc., fell dramatically after the insurer announced that its second quarter medical care costs spiked following an increase in its Medicare patients. For the second time this year, the Indianapolis-based insurer has increased its annual forecast following the increase in sales. The enrollment with WellPoint increased by 2.1 percent, reaching 34.2 million, primarily from a rise in elderly and disabled Medicare members. Approximately 75 percent of the new enrollees with Medicare had come from competitors that had withdrawn from…
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