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Posts Tagged ‘North Aurora’

Blue Cross premium hikes in Texas, Oklahoma could mean Illinois sticker shock

Tuesday, June 14th, 2016

The Chicago Tribune reports:

“Illinois residents who buy Blue Cross and Blue Shield health care coverage through the state insurance exchange may be in for Obamacare sticker shock, if proposed rate hikes by the largest insurers in Texas and Oklahoma are any indication.

Texas and Oklahoma are possible harbingers of Blue Cross’ prices on the Illinois exchange because all three health plans are owned by the same company, Chicago-based Health Care Service Corp. Blue Cross is the most popular insurer on the Illinois exchange.

(more…)

Obamacare Encounters Another Bump in the Road

Thursday, April 28th, 2016

According to News Max Finance:

” Well, the hammer has fallen: The largest health insurer in the U.S. has started pulling out of select Obamacare exchanges.

Five months ago UnitedHealth, which had been singing sunny songs to investors about its bright future on the exchanges, abruptly began crooning the blues. In an earnings call barely a month after executives assured investors that all was going swimmingly, they confessed that they were losing a ton of money on their Obamacare policies and described a pattern that sounded as if consumers were gaming the system — signing up for a few months, using a ton of services, and then canceling their policies. If this continued, they said, they would have no choice but to pull out of the exchange business. (more…)

IRS Grants Extension for 6055 and 6056 Reporting

Tuesday, January 26th, 2016

According to United Healthcare, Broker Connection Special Edition:

“On Dec. 28, 2015, the IRS announced that it is granting an automatic extension for the 2015 information returns required of insurers, employers and certain other providers of Minimum Essential Coverage (MEC) under Section 6055 and 6056 of the Internal Revenue Code (IRC).

Coverage providers that need more time now have until March 31 to get Form 1095 to individuals and until June 30 to electronically file with the IRS. For providers not filing electronically, the deadline is May 31, 2016. (more…)

Employers not interested in PPACA exchanges

Friday, October 3rd, 2014

Benefits Pro reports:

“Nearly one in four employers say they may move their employees toprivate exchanges within the next few years, but virtually none of them are considering public exchanges under the Patient Protection and Affordable Care Act, new analysis from consulting firm Towers Watson finds.

The firm’s Health Care Changes Ahead survey of 349 HR professionals at mid- and-large-sized companies found that 24 percent of those surveyed believe a private exchange will be a viable alternative for providing employee health benefits by 2016.

(more…)

Why your 2015 health coverage will cost more

Wednesday, September 10th, 2014

Crain’s Chicago Business reports:

“A year after the nation embarked on the experiment in health care called Obamacare, rising drug prices threaten to jack up costs for employees and employers alike in 2015.

Health care plans spend the most on drugs for common chronic ailments such as diabetes, high blood pressure and high cholesterol. As those conditions become more prevalent, growing demand is enabling pharmaceutical companies to boost prices at rates well beyond overall inflation. For example, spending by health plans in the U.S. on Lantus, a long-acting form of insulin made by Sanofi SA, rocketed 27 percent in 2013, according to , a pharmacy benefits manager in St. Louis.

(more…)

Health Plans Dropping Spouses; Are Children Next?

Tuesday, September 3rd, 2013

Insurance News Net reports:

“A growing number of companies are looking to clamp down on rising health care costs by dumping coverage for their employees’ working spouses.

Others are requiring their workers to pay extra money to cover a spouse who could get health insurance elsewhere. And some may even consider making employees pay the full cost of insuring their children.

(more…)

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