Florida Health Insurance Companies Owe Big Time
Posted on July 10th, 2011
Florida health insurance companies overstated how much money they spent on patient care and owe the state health officials a lot of money. Some experts are estimating they owe Florida about $3.1 million in refunds for the government’s health care plan for children. This information came out in a recent federal report and is quite staggering.
The Florida Agency for Health Care Administration pays private health insurance companies through a joint state and federal program to offer health insurance coverage to families who do not qualify for Medicaid, but struggle to pay for personal health insurance. Insurers are required by law to spend at least 85% on medical services and if it pays less it must refund the state 50% of the shortfall. Com Full Post…
Tags: Health Insurance, Health Insurance Companies, Insurance Companies, Owe
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Louisiana Health Insurance for the Poor
Posted on July 6th, 2011
Louisiana health insurance is facing changes will health care reform approaching and many groups are trying to handle the health care delivery system for the poor throughout the state. Health insurance companies and other private companies submitted proposals to the state advising why they would be the best option to run the coordinated care networks in Louisiana. The networks hope to be up and running by May 1, 2012.
The article “Dozen Entities Vying for New Health Care Delivery System for Poor” on GreenfieldReporter.com says the state will turn a portion of its $6.7 billion Medicaid program for the poor to the private health insurance companies and taxpayers will end up paying premiums. The
Tags: Health Insurance, Louisiana Health, Louisiana Health Insurance, Poor
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Affordable Health Insurance With Labels
Posted on June 23rd, 2011
Just as food requires nutrition labels and cars require sticker prices, health care plans will soon require easy to understand labels for consumers shopping around for health insurance. According to the article “New Labels Will Soon Help Consumers Choose Health Plans by Susan Jaffe on the LATimes.com, consumers will be able to get a good idea of the costs varying plans will cover for maternity, diabetes and breast cancer. The proposed insurance labels will be approximately two pages long due to the complexity of health plans.
Affordable health insurance with maternity coverage, diabetes coverage and breast cancer coverage can be challenging to find and often the consumer isn’t even sure what is offered in a particular plan. The
Tags: Health Insurance, Labels
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New report says employers will drop health insurance as reform kicks in
Posted on June 19th, 2011
(NEWSCHANNEL 3) – The latest round in the fight over President Barack Obama’s health care overhaul took place in a Federal Appeals Court in Atlanta on Wednesday.
A three-judge panel heard oral arguments on whether to reverse a Florida judge’s ruling that struck down the law.
The Attorneys General of 26 states are opposing the law, arguing that Congress doesn’t have the power to require all Americans to maintain health insurance. B Full Post…
Tags: Health, Health Insurance
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Health Reform To Make Health Insurance Affordable For Nearly All Families
Posted on April 25th, 2011
Ninety percent of American families living above the federal poverty level will be able to afford health insurance under the Affordable Care Act, according to a new Commonwealth Fund report by Jonathan Gruber and Ian Perry of the Massachusetts Institute of Technology (MIT). The report finds that new subsidies available through health insurance exchanges established under the law will make premiums affordable for most families. But the authors also warn that high out-of-pocket costs will likely mean some families will still be unable to afford health-related expenses. Full Post…
AG wins 760K health insurance settlement with AIG unit
Posted on April 24th, 2011
A unit of American International Group Inc., the New York-based insurance giant, agreed to pay restitution and a fine totaling 760,000 for selling faulty health insurance products in Massachusetts, under a settlement reached with state Attorney General Martha Coakley.
United States Life Insurance Company, an AIG subsidiary known as U.S. Life, sold products in Massachusetts that didn’t cover state-mandated benefits such as mental health, maternity care, infertility care, mammography, pap test screening, and preventive care for children up to age six, according to the Attorney General’s office.
Under the settlement, U.S. Full Post…
Tags: Health Insurance, Unit
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UnitedHealth’s 1st-quarter profit climbs 13 percent, helped by commercial health insurance
Posted on April 19th, 2011
UnitedHealth Group says its first-quarter net income rose 13 percent, led by revenue gains in commercial health insurance. The managed care company also raised its full-year earnings forecast.
The Minnetonka, Minn., insurer says it earned 1.34 billion, or 1.22 per share, in the three months that ended March 31. That’s up from the 1.19 billion, or 1.03 per share, in the same quarter last year. Revenue rose 10 percent to 25.43 billion.
Analysts expected 89 cents per share on 24.97 billion in revenue.
UnitedHealth is the largest health insurer based on revenue and the first to report quarterly earnings.
The company now expects 2011 earnings per share to range between 3.95 and 4.05. Full Post…
Tags: Commercial Health, Commercial Health Insurance, Health Insurance, Insurance
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