The Obama administration recently introduced a new law that requires insurers to provide coverage for contraceptives. The plan has put many religious associations on edge as such coverage may run counter to their beliefs. This has led many of these associations to seek exemption from the rule. Such is the case with the University of Notre Dame, which petitioned the Department of Health and Human Services (HHS) to be discounted from the law. Late last week, the HHS ruled that all institutions with religious affiliations must adhere to the law.…
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Report shows that 9 million adults lost their health insurance coverage in the wake of the Great Recession
A new report from the National Bureau of Economic Research shows that the recession of 2007-2009 had a major impact on the number of adults who had health insurance in the U.S. The report notes that the recession was the most severe and disruptive financial crisis faced by the U.S. in recent history. The economic impact of the crisis was widely felt and its affects linger today. In the health insurance industry, the recession claimed more than 9 million health care policies, leaving former policyholders without insurance coverage for the…
Read MoreInsurance regulators pass controversial resolution to amend the Affordable Care
The National Association of Insurance Commissioners (NAIC) gathered this week to vote on a controversial resolution that would have drastic effects on a consumer protection clause of the Affordable Care Act. The provision would have saved consumers nationwide approximately $1 billion in premiums while offering them protections from future rate hikes. The provision is also part of the controversial medical loss ratio provision of the health care law – which requires insurers to pay no less than 80% of their premium money on medical care. Regulators have been divided on…
Read MoreGeorgia launches panel to investigate the virtues of a health insurance exchange
Georgia is outspoken in its opposition to the federal health care reform, as are many other Southern states. Despite the efforts of these states to have the law declared unconstitutional, the law remains in place and states are still required to establish health insurance exchange programs. Unwilling to allow the federal government to take charge of the exchange if it cannot make the 2014 deadline, Georgia has launched a new panel of insurance experts and legislators to explore how an exchange would serve the people of the state. In terms…
Read MoreNorth Dakota faces challenges in changing health insurance system
North Dakota legislators have been working to make changes to the state’s health insurance system to make it more in line with imminent federal regulations. A legislative committee has been tasked with the job of drafting such changes and will be presenting them during a special session of the Legislature scheduled for November 7. Lawmakers are eager to make changes to the system, but a potential snag takes the form of a $83 million price tag, which may put an end to the committee’s plans before any work can be…
Read MoreNew California laws bring promising changes to the state’s insurance industry
California Governor Jerry Brown signed into law a number of health care legislations this month. Many of the laws were designed to bring affordable health insurance to those in greatest need. The new legislations are expected to make some major changes to the state’s health insurance industry as they introduce stiffer regulations concerning rates and practices. Small businesses in the state will be afforded a number of benefits from the laws in the hopes of ensuring employees are able to keep their insurance benefits. Of note, Senate Bill 51 will…
Read MoreAnother health insurance rate hike expected by next year
Mercer has released the results of its annual survey which have indicated that there will be an increase of 5.4 percent to employee health care benefit costs in 2012. Though the forecasted increase in health insurance rates will be the smallest one that has occurred in the last 15 years, it should still be noted that this increase is remarkably higher than salary growth and the inflation rate, the latter of which was at 3.9 percent. The employers who participated in the Mercer survey stated that they have been attempting…
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