“The CMS Friday issued final market rules for 2016 (PDF) for the state and federal insurance exchanges. The regulations include stronger requirements for insurers to provide accessible, reliable information about provider networks and drug formularies so that exchange customers can make informed choices.
Posts Tagged ‘Costs’
“Wikimedia Commons A Staples storefront. Part-time Staples workers are furious that they could be fired for working more than 25 hours a week.
The company implemented the policy to avoid paying benefits under the Affordable Care Act, reports Sapna Maheshwari at Buzzfeed. The healthcare law mandates that workers with more than 30 hours a week receive healthcare.
“Like any other investment, whether it is stocks or properties or buying of assets, basic knowledge is necessary for a smooth deal. Where the basic knowledge is lacking, it is always advisable that you get an expert to lead you in the deal.
Insurance more than a number of these other investments, is technical in nature requiring that somebody going into it understand the secrets for effective insurance. Otherwise, use the broker because ignorance is not an excuse in law and worst is when someone has made loss, and there is a claim.
To avoid all of these cock and bull stories, take the services of an insurance brokers who by virtue of their profession understand the deal and can assist you to successfully undertake an insurance cover.
“A great number of people in the United States have grown accustomed to having their employer pay for, or at least subsidize their healthcare costs. That usually takes the form of employer-provided health insurance plans, which have become a staple of most compensation packages for full-time employees that are working in positions that require even menial amounts of skill — and shutting out, for the most part, unskilled or low-wage workers. On the surface, it is a bit odd that we rely on our employers to pay for our health insurance. Yet, it’s become the norm, and one of the many reasons the U.S. healthcare system, as a whole, is so complicated and for lack of a better term, screwed up.
“Anita Maina was working on an arts and crafts project she found on Pinterest — creating a table out of wood and cork — when she ripped off a fingernail while removing staples from a piece of wood.
“It is one of those things that really hurt, and I thought I should go to urgent care,” said Ms. Maina, 27.
But she ultimately skipped the visit since she had not met the $6,000 deductible on her health plan, and she knew she probably did not have much left in her health savings account, a type of tax-advantaged savings vehicle that is often used with high-deductible plans to help defray out-of-pocket costs.
Ms. Maina, an associate in a health and human services consulting agency, said her employer added the high-deductible plan earlier this year; though her monthly premiums are only $34, these plans require employees to pay for a greater share of their medical expenses upfront, before the plan starts making payments.
“I’m leaving my job in a few months and moving to New York. Can I get new health insurance even though open enrollment is over? Yes. Even though open enrollment for individual health insurance is closed until November 15, 2014, you can buy a new policy now (either on a state exchange or directly from an insurer or agent) if you move or experience certain other “life changes,” including getting married or divorced, having or adopting a baby, and losing other health insurance. You generally have 60 days from the date of the event to buy a new policy. (more…)
“Illinois plans to delay by at least a year a key feature of its Obamacare health insurance exchange that potentially would give employees of small businesses more choices when shopping for coverage.
“Employee choice” would allow employees to select from a range of plans from multiple carriers on the Small Business Health Options Program, also known as the Shop exchange, rather than being limited to a single plan chosen by their employer. The three dozen states on the federally administered marketplace, Illinois included, operated under the latter model, called “employer choice,” in 2014.
“Illinois’ only co-op health insurance program lost more than $4 million and enrolled fewer than 2,500 people in its first quarter of operation as it struggled to enter a market dominated by one massive competitor.
Land of Lincoln Health Inc. Co-op had just 2,451 members by March 31, 97 percent of whom bought individual plans. The carrier was established under President Barack Obama’s health care reform law and aimed to increase competition in Illinois’ individual and group insurance markets.