“Though full details won’t be released until later this month, some information is starting to trickle out about what Illinois residents will and won’t find when they shop for health insurance on the state’s Affordable Care Act exchange.
Posts Tagged ‘Affordable Care Act’
“A large insurer on Illinois’ Obamacare exchange has decided not to credit former Land of Lincoln members for money they’ve already paid toward their deductibles despite a request from the state to consider doing so.
Blue Cross Blue Shield of Illinois has decided it cannot waive deductible or out-of-pocket costs for Land of Lincoln members who may join Blue Cross in October, said Blue Cross Blue Shield of Illinois spokeswoman Dana Holmes on Monday.
“Large employers continue to believe in the value of sponsored health benefits for employees, despite the options available to them under the Affordable Care Act. But small employers are increasingly choosing to pull out of the health benefits business.
That’s what a survey from the Employee Benefits Research Institute (EBRI) found when it examined the percentage of employers offering health insurance from 2008 to 2015. Using data from the Medical Expenditure Panel Survey — Insurance Component, EBRI reported that nearly 100 percent of the largest employers (those with 1,000 or more employees) have continued to offer health insurance through the ups and downs and gyrations of the past seven years.
“Health insurance premiums for Illinois residents who buy coverage through the Affordable Care Act’s marketplace could increase by as much as 45 percent according to proposals submitted by insurers and made public Monday.
The leading insurer on Illinois’ exchange, Blue Cross Blue Shield, is proposing increases for 2017 ranging from 23 percent to 45 percent for individual health care plans, according to proposals posted by Healthcare.gov. Another insurer, Coventry Health Care of Illinois, proposed rate increases as high as 21 percent.
“Insurers want to crank up the cost of health insurance premiums by as much as 45 percent for Illinois residents who buy coverage through the Affordable Care Act’s marketplace.
Blue Cross Blue Shield of Illinois, the most popular insurer on the state’s Obamacare exchange, is proposing increases ranging from 23 percent to 45 percent in premiums for its individual health-care plans, according to proposed 2017 premiums that were made public Monday. The insurer blamed the sought-after hikes mainly on changes in the costs of medical services.
“I was wrong. Wrong about an important part of ObamaCare.
When I joined the Obama White House to advise the president on health-care policy as the only physician on the National Economic Council, I was deeply committed to developing the best health-care reform we could to expand coverage, improve quality and bring down costs. We worked for months to pass this landmark legislation, and I still count celebrating the passage of the Affordable Care Act with the president one balmy spring night in 2010 as one of my greatest Washington memories.
“One of the nation’s largest health insurance companies plans to enter the Obamacare marketplace in the Chicago area for the first time, bringing new competition as other insurers exit or go out of business.
The Tribune has confirmed that Cigna, based in Bloomfield, Conn., has filed plans to sell health policies to individuals and families who purchase their own coverage in the individual market. If the plans are approved by Illinois regulators, Cigna will start selling policies Nov. 1, when enrollment for 2017 Obamacare coverage opens.
“The state’s shutdown of its three-year-old Land of Lincoln Health was no surprise, observers say, coming amidst a nationwide trail of failures of nonprofit alternative insurers set up under the Affordable Care Act.
Those insurers faced many obstacles, but most important were two financial hits: the federal government’s reneging on hundreds of millions of dollars in subsidies promised under ACA, while at the same time demanding the struggling startups pony up hundreds of millions in other contributions required under that law.