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Posts Tagged ‘land of lincoln’

4 healthcare costs in retirement no one warns you about

Monday, May 20th, 2019

MSN Money reports:

“Many Americans are stressed about paying for late-in-life healthcare.

Studies show that over a third of US adults are more concerned about covering health costs in retirement than paying off debt and affording lifestyle expenses right now, but only about half have a financial plan in place for the future.

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Only one insurer will offer PPO plan on state Obamacare exchange

Monday, October 31st, 2016

The Chicago Tribune reports:

“Blue Cross and Blue Shield of Illinois will be the only insurer offering PPO health insurance plans on the state’s Obamacare exchange next year, according to information released Friday by the state Department of Insurance.

That’s down from five insurers that offered individual PPO plans on the exchange this year. Many consumers prefer PPO health plans because, unlike HMO plans, they allow patients to see specialist doctors without a referral and see physicians who are out-of-network, albeit at higher costs.

The reduced choices were not unexpected, following the exit of several insurers from Illinois’ exchange. Aetna, its Coventry brand, UnitedHealthcare, UnitedHealthcare subsidiary Harken Health and Land of Lincoln all announced this year they wouldn’t offer individual plans on the exchange next year. Many insurers have cited financial struggles as their reason for abandoning the exchange.

The information was released Friday along with final rates for insurance plans on the exchange, which on average, are largely the same as rates submitted to the federal government in August. Rates will increase by an average of 44 percent for the lowest-priced bronze plans, 45 percent for the lowest-priced silver plans and 55 percent for the lowest-priced gold plans.

The information released Friday, however, also shows for the first time which insurers will offer what types of plans in each county on the exchange next year:

• In Cook County, insurer Celtic will offer an HMO plan, Cigna will offer an HMO and Blue Cross and Blue Shield will offer an HMO and a PPO.

• In Lake and McHenry counties, Blue Cross and Blue Shield will be the only on-exchange insurer offering HMO and PPO plans.

• In Kane and DuPage counties, Cigna will offer an HMO, Celtic will offer an HMO to part of the area and Blue Cross and Blue Shield will offer an HMO and PPO.

The federal government will release specific premiums, deductibles and information about networks by Nov. 1, when consumers can begin shopping for insurance on the exchange.

This year, Blue Cross and Blue Shield of Illinois stopped offering its broadest PPO plan for individuals on the exchange, instead offering a smaller PPO network that didn’t include popular academic medical centers at Northwestern University and the University of Chicago or hospital chain NorthShore University HealthSystem.

“We will continue to work with state and federal regulators and legislators to ensure a stable and sustainable insurance marketplace and to improve the quality and cost of care for all of our members,” Blue Cross and Blue Shield of Illinois said in a statement Friday.

Illinois is not unique in how few insurers will offer on-exchange PPOs next year, said Katherine Hempstead, a senior adviser at the Robert Wood Johnson Foundation.

Options will be more plentiful for Illinois residents who buy individual insurance off the exchange, but people who buy off-exchange plans aren’t eligible for federal subsidies that offset insurance costs. About 75 percent of Illinois residents who buy insurance on the exchange now get those subsidies, which will allow those consumers to pay less than $75 a month next year, even with the rate increase, Jonathan Gold, a spokesman for U.S. Department of Health and Human Services, said in a statement.

Five insurers will offer off-exchange PPO plans next year in different parts of the state. In all, 14 insurers will offer plans off the exchange. Consumers typically can buy off-exchange insurance through brokers or through insurance companies directly.

Oftentimes, insurers are more inclined to offer plans off the exchange because they may believe they’ll get healthier customers, said Larry Levitt, a senior vice president for special initiatives at the Henry J. Kaiser Family Foundation.

Most consumers, he said, are most concerned about making sure insurance plans’ networks include their doctors and that their monthly premiums aren’t too high. “It means consumers have to shop around carefully, as options are changing,” he said.

Blue Cross Blue Shield won’t credit Land of Lincoln members for deductibles

Tuesday, August 16th, 2016

The Chicago Tribune reports:

“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.

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Illinois’ Obamacare plans seek big 2017 premium hikes

Tuesday, August 2nd, 2016

The Chicago Tribune reports:

“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.

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Lifetimes by Blue Cross

Tuesday, August 2nd, 2016

Here are some handy videos from Blue Cross about your Medicare options.

 

http://www.bcbsil.com/lifetimes/videos.html

Land of Lincoln coverage will end Oct. 1 for individual enrollees

Wednesday, July 20th, 2016

The Chicago Tribune reports:

“Land of Lincoln Health’s insurance coverage for its individual enrollees will end Oct. 1, according to the Illinois Department of Insurance.

The agency posted the news on Land of Lincoln’s website. A green banner now greets visitors to the website with the headline, “Important notice to all members” with a link taking them to information about the Chicago-based insurer’s impending shutdown. The notice comes a week after the agency moved to seize control of the financially troubled Chicago-based insurer.

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