Health Insurance under the Health Care Reform
The department of health and Human Services released guidance on two key components that will affect the level of protection a private insurance policy will provide under health care reform. 1st Involves the services the insurance policy must cover 2nd Involves how much the insured must pay for out of pocket services. The services that […]
Federal High Risk Pool
The current administration reported the federal High-Risk medical plan, is expected to more than double the initial predictions of the Obama administration. The Health Care law set aside $5 billion for the Pre-Existing Condition Insurance Plan (pcip.gov) plan. If you were denied coverage in the individual market and had been without coverage for 6 months you were […]
The Changing Role of Insurance Brokers
The insurance landscape is changing. But the shifts won’t just affect consumers – brokers are also looking at an alteration in the way they currently do business. The new healthcare reform law requires states to create insurance exchanges so people not covered by an employer plan can shop for affordable coverage. Some industry analysts believe […]
What Are Potential Drawbacks of a High-Deductible Health Plan (HDHP)?
One significant downside to a high-deductible health plan (HDHP) is that you’re responsible for paying everything out-of-pocket until you reach your deductible (which typically ranges from $1,000 to $5,000 on these plans). You’ll pay 100 percent of the cost of prescriptions, doctor visits and emergency room visits. You’ll also pay for the cost of surgeries and out-patient […]
Lipitor Goes Generic – What That Means for You
Lipitor, one of the most frequently prescribed medications for lowering cholesterol and preventing heart disease, is now available in generic form. Access to atorvastatin – the generic name for the drug – is going to save residents thousands of dollars. Here’s how: According to the American Heart Association, heart disease is the leading cause of […]
Why The Health Care Reform Employee Tax Subsidies Could Cost You More
The Hill Under the new health care reform law, if an employer’s group health insurance is considered unaffordable — a cost to the employee of more than 9.5% of household income — the employee would be eligible for tax subsidies through a health insurance exchange. As the law was originally interpreted, if the employee was […]
Independent Payment Advisory Board
One of the hot topics of the recent health care reform debate was the creation of the Independent Payment Advisory Board (IPAB). The board would have the power to implement changes to reduce the growth rate of Medicare, though Congress would have the power to overrule the IPAB decisions. The Independent Payment Advisory Board would […]
How Does the Loss of Five Insurance Carriers In Indiana Affect You?
IBJ The state of Indianapolis recently lost five individual health carriers from the market. For those working in the health insurance industry, this comes as no surprise. Below are the five companies that exited and the reasons for their departures: American Community Mutual Insurance Co. American Community left Indianapolis due to insolvency. The company had […]
Mckinsey Methodology
McKinsey study just released the methodology that they used to generate the report. The group released questions and results by the people that took the survey. This study has become political so there will be arguments on both sides for and against. I looked at the survey and results. First thing that jumped out is over 35% […]
Indiana Insurance Commissioner Seek Waiver
The Indianapolis insurance Commissioner is asking for a waiver of Patient Protection and Affordable Care Act’s (ACA) 80 percent minimum medical loss ratio (MLR). The commissioner states that 10% of the health insurance companies have left Indianapolis. If the waiver is granted that would encourage companies to stay in the individual health market. The commission […]