As Pennsylvania continues its slow and steady march toward building a health insurance exchange, residents of the state are coming to the Department of Insurance with questions about how the exchange will affect them. The state’s Department of Insurance has been awarded a $1 million grant from the federal government to help keep consumers informed over the matter. With the money, the department has hired additional staff, whose purpose it is to answer the questions consumers have about the exchange and the Affordable Care Act. Pennsylvania has stood in opposition…
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Pennsylvania insurance regulators see their rate review authority expanded with new law
The Pennsylvania Insurance Department has had its authority over insurance rates for small employer health care policies expanded this week. On Thursday, Governor Tom Corbett signed Senate Bill 1336 into law, giving regulators the power to adjust the insurance rates in the small group market. For the first time, state insurance regulators will be able to review and disapprove new rate proposals coming from insurers. They will also be able to require insurers to justify their need for a rate increase and demand changes if necessary. Insurance Commissioner Mike Consedine…
Read MorePennsylvania insurance bill has consumer advocates on edge
A new bill passed in Pennsylvania has consumer advocacy groups a little worried about the state’s future health insurance program. The bill in question was passed by the state Senate on Wednesday requires all health insurers in the state to submit their rate proposals to regulators for review if they are seeking increases of 10% or higher. While legislators claim that more regulations will help ensure insurance companies do not enact excessive rate increased, consumer advocacy group Pennsylvania Health Access Network, says that the bill compromises the protections of small…
Read MoreFederal insurance regulators reject rate increase proposal from Everence Insurance of Pennsylvania
The Department of Health and Human Services has exercised one of the new authorities it has been granted under the Affordable Care Act this week. The agency has denied a rate proposal request from Everence Insurance of Pennsylvania. This marks the first time the agency has made use of its new authority over the nation’s insurance companies. Everence Insurance must now rework their rate proposal so that it aligns with what the HHS defines as reasonable. Earlier this year, Everence submitted a rate increase proposal to the Pennsylvanian Department of…
Read MorePennsylvania Insurance Commissioner asserts the importance of a state-run insurance exchange
Pennsylvania’s Department of Insurance is urging lawmakers to pass laws concerning the building of a health insurance exchange. The department has begun noting the benefits of such a program, claiming that it will help residents find affordable coverage and help bring more competition to the state’s insurance market. The advocacy from the department comes at the end of a lengthy study conducted by regulators and state legislators concerning the benefits of an exchange program. Insurance Commissioner Michael Consedine, backed by Governor Tom Chorbett, made use of a $1 million government…
Read MoreObama administration requests lower rate increase from health insurance company
The Obama administration has used a new tool from their healthcare overhaul to pressure a health insurer with intentions to increase its rates in Pennsylvania reduce the size of this hike. Department of Health and Human Services officials have announced that they feel that it was “unreasonable” for Everence Insurance Co. to plan a 12 percent increase in the rates for approximately 5,000 individuals employed by small businesses within the state. According to Kathleen Sebelius, the Health and Human Services Secretary, the intended rate increase was not adequately justified by…
Read MorePennsylvania Insurance Commissioner encourages consumers to take advantage of open enrollment season
Open enrollment season for health insurance has come to Pennsylvania and the state’s insurance regulators are urging consumers to weigh their options before making any decisions on coverage. Insurance Commissioner Mike Consedine released a statement yesterday in which he outlined the benefits of evaluating multiple insurance policies and state-run programs. Policies from other insurance companies may be more beneficial for a person’s needs than those offered by their current insurer. Keeping an eye out for such policies can net significant savings. Some employers may begin offering a wide variety of…
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