Health Insurance Quote - Group Health Insurance

Workers chipping in more for healthcare

nospam@example.com (Brafton) — Thu, 02 Sep 2010 02:00:00 -0500

It's not uncommon for some people to feel as though their paycheck doesn't go as far as it once did. Research shows it may not be just a feeling, but a fact.

The Kaiser Family Foundation and the Health Research and Educational Trust recently revealed results from their Employer Health Benefits Survey. Their data reveals that workers on average are paying $482 a year more for family health coverage than they did in 2009.

With many businesses still struggling financially, many companies are saddling more of their employees with healthcare costs.

HRET president and American Hospital Association research vice president Dr. Maulik Joshi says burdening employees with healthcare costs can have consequences.

"High out-of-pocket expenses and premiums affect health care decisions for patients," says Joshi. "If premiums and costs continue to be shifted to consumers, households will face difficult choices, like forgoing needed care, or reexamining how they can best care for their families."

Even though costs may seem high, people shouldn't go without health insurance. In the event of a serious illness or accident, hospital bills could far exceed the monthly insurance premiums paid.

Funds issued to research antibiotic resistance

nospam@example.com (Brafton) — Mon, 30 Aug 2010 02:00:00 -0500

When a person becomes ill and needs medication, in most cases they can easily obtain a prescription drug that will treat their ailment. However, even with the best health insurance available, some conditions can't be treated because they are resistant to frequently used medications.

The U.S. Department of Health and Human Services' Biomedical Advanced Research and Development Authority recently announced they are awarding funds worth between $27 and $464 million in contracts to help support research of antibiotics used to fight bioterrorism and antibiotic resistant infections.

"This new antibiotic is part of our push against antibiotic resistance for certain bacterial infections, and at the same time could provide a new treatment for plague and tularemia biothreats," said BARDA Director Dr. Robin Robinson. "It's the first time BARDA research and development funds have been used in a multi-use approach like this."

The National Network for Immunization Information says antibiotic resistance is growing in common illnesses such as meningitis and pneumonia. They cite the frequent use of antibiotics, sometimes when not necessary, for the growing level of resistance.

More people relying on COBRA services

nospam@example.com (Brafton) — Wed, 25 Aug 2010 02:00:00 -0500

With the unemployment rate still high at 9.5 percent, according to the Bureau of Labor Statistics, a number of people are relying on Consolidated Omnibus Budget Reconciliation Act for their health insurance needs. COBRA allows people to stay on their employers health insurance plan at their own expense.

Research by consulting firm Aon says COBRA is being strained from the increased number of people relying on the coverage. They report that more people are utilizing COBRA services as they get closer to losing the coverage all together.

Aon senior vice president Tom Lerche says people should expect to see additional expenses coming their way.

"In addition, we expect to see new costs related to excise taxes and potential cost shifting from reductions in Medicare reimbursement to providers, which will be on top of existing long-term medical trend inflation," Lerche said. "These factors will lead many employers to consider increased employee contributions for health coverage, as well as plan design cost sharing."

Employees have already begun to pay higher health insurance premiums. The Kaiser Family Foundation says premiums for employer-sponsored plans increased almost 8 percent from 2005 to 2006 and just over 9 percent the year before that.

Employers embrace preventative care, survey finds

nospam@example.com (Brafton) — Thu, 19 Aug 2010 02:00:00 -0500

It could be said that the best way to treat a condition is to prevent it from happening at all. That is why preventative care services can play such an important role in a person's health and in keeping costs down for health insurance companies and employers.

A survey by the Midwest Business Group on Health looked into the relationship between employers and preventative care services. Virtually all employers surveyed said that they played a role in their staff getting preventative care services. Also, the survey shows that employers are mainly motivated to offer such services because they can help keep employees healthy and more productive.

"Employers are increasingly investing resources in preventive care and wellness programs to reduce health care costs and improve the health and productivity of their employees," said MBGH president and CEO Larry Boress.

Getting screened for certain conditions like diabetes, for example, can greatly reduce health care costs down the road. If a patient knows they are at risk for developing the disease, they can alter their lifestyle to reduce their chances.

Employers prepare for health insurance cost increase

nospam@example.com (Brafton) — Wed, 18 Aug 2010 02:00:00 -0500

With the signing of the Affordable Care Act comes many changes. It's not just the health insurance companies who anticipate feeling a financial pinch in the future. Employers who are offering health insurance as a benefit foresee having to reexamine their budgets as well.

According to a survey by the National Business Group on Health, 53 percent of large U.S. employers surveyed anticipate making changes to their benefits plans. Additionally, 25 percent of employers said they plan on increasing co-payments for prescription drugs.

National Business Group on Health president Helen Darling says that employers must be aware of the financial impact health care will have on their company financially.

"While the health reform law has forced employers to evaluate their health care benefit strategies and decide whether to comply with the law or lose grandfathered status, they haven't lost sight of the fact that controlling rising costs remains one of, if not their highest priority," said Darling. "They have to foot the bill, not the government."

Many people obtain their health insurance coverage through their employer. Those who do not have that option turn to the government for assistance or pay for the coverage on their own.

Some employers use programs to monitor employee health

nospam@example.com (Brafton) — Mon, 16 Aug 2010 02:00:00 -0500

The high cost of health insurance is driving some employers to look into innovative ways to maintain group health insurance, but also keep expenses down. The Kaiser Family Foundation says that health insurance costs rose 4.4 percent in 2008, a smaller increase than seen in previous years.

One way some employers are trying to keep costs down is through preventative care measures. Interactive programs, like Medforma's next-generation health portrait platform, allows employers to get an idea of how healthy their staff is.

"With our latest advancements, employers will receive invaluable information to help them better manage health costs and wellness investments," said Medforma CEO Kye Anderson. "At less than $50 per employee per year, our platform is highly affordable, but the advantages are substantial, especially considering the high cost of keeping employees healthy and productive."

Medforma asserts that the majority of health care costs come from diseases that are preventable. Conditions like type 2 diabetes can be controlled and even prevented if appropriate actions are taken. Monitoring programs may help detect lifestyle shortcomings and alert people to take steps to make them healthier before conditions develop.

Many companies predict losing 'grandfathered' status

nospam@example.com (Brafton) — Tue, 10 Aug 2010 02:00:00 -0500

Under healthcare reform, companies can earn "grandfathered" status, which allows them to keep many of their health care coverage provisions and lightens the amount of changes needed to be in compliance with the law.

However, 90 percent of companies say they believe they will lose their grandfathered status, according to a study by Hewitt Associates. A company can lose the status for several reasons, including raising deductibles or changing insurance companies.

"Employers reviewing their existing health care strategies in light of reform are focused on answering two questions: What changes do I need or want to make to my health care plans? And how can I make them without significantly increasing costs?” said Hewitt's Health Management practice leader Ken Sperling.

Over 70 percent of companies surveyed said that they think they will lose grandfathered status because of plan design changes and almost 40 percent cited subsidy level changes as a reason for losing the status.

Kiplinger reports that a large number of companies will push the additional healthcare cost burden on their employees by raising premiums and co-payments.

Many employers to review health care benefits, survey finds

nospam@example.com (Brafton) — Thu, 29 Jul 2010 02:00:00 -0500

Health care reform has employers reviewing their health insurance offerings as they anticipate rising expenses.

A recent survey by Fidelity Investments reveals that 84 percent of employers are going to review the health care benefits they provide. Nearly the same amount indicated that they believe health insurance is an important benefit that helps attract and maintain talent and will be just as, if not more important, moving forward.

"Company executives are taking a close look at their overall benefit strategies in the wake of the new health care reform legislation," says Fidelity benefits consulting services senior vice president Sunit Patel. "Over the long run, health care reform could lead to significant changes to an employee's benefits well beyond health care coverage."

The government is pushing for all employers to offer health insurance as a benefit. Under health care reform, the government is offering small businesses with fewer than 25 employees up to a 35 percent tax credit to help provide health insurance to their employees. Small employers, in particular, indicated in the survey that they were concerned about cost increases.

Employers not happy with health insurance carriers

nospam@example.com (Brafton) — Tue, 29 Jun 2010 02:00:00 -0500

Employees aren't the only ones who have problems with health insurance companies as most employers are dissatisfied too, according to the J.D. Power and Associates 2010 U.S. Employer Health Insurance Study.

Out of a possible 1,000 points, overall satisfaction averaged out to 611 points, the research reveals.

Even though costs play a large role in determining which health insurance provider a company uses, the study of nearly 4,800 employers found that service is even more important.

It's not uncommon for an employer to reach out to their health insurance carrier with a problem, which is why quality service is so important.

"More than 80 percent of employers that contact their carrier do so because they have a problem or issue to address, and for those that experience a problem, its resolution becomes the most important aspect of their overall carrier experience," says senior director of health care practices Rick Millard.

High levels of dissatisfaction can lead to companies switching providers. As health insurance costs continue to eat away at employer's profits, they may be more likely to switch providers if quality standards aren't met.

Employers not cutting all benefits in down economy

nospam@example.com (Brafton) — Mon, 28 Jun 2010 02:00:00 -0500

Even with companies still feeling the pain from the sluggish economy, some employee benefits are still holding strong.

Health care benefits for domestic partners have not be impacted significantly from the recession, according to a report from the Society for Human Resource Management.

The report found that 37 percent of employers offer health care coverage to same-sex partners and 38 percent to opposite-sex partners, which is essentially the same as what was found in 2008.

A decrease in coverage, however, was found for "long-term health care insurance," which dropped from 38 percent in 2009 to 31 percent this year, according to SHRM.

"Although the recession has presented challenges in the continued support of some employee benefits, some organizations are finding creative ways to replace the more costly benefits with alternative, less costly, family-friendly benefits," SHRM director of research Mark Schmit said. "These progressive companies will likely fare better in retaining key talent as employment opportunities increase post-recession."

Health care coverage costs are a major expense that doesn't appear to be decreasing any time soon. Some employers have chosen to pass the increased costs of health care onto their employees who wish to have the health coverage.

Health insurance coverage not as widely available for same-sex couples, study finds

nospam@example.com (Brafton) — Fri, 25 Jun 2010 02:00:00 -0500

Disparities exist in employee-sponsored health insurance coverage between same-sex and heterosexual couples, a study by the University of California at Los Angeles found.

In California, male gay couples were only 42 percent as likely as heterosexual couples to get dependent care coverage through their employer. The study found that lesbians had only a 28 percent chance of receiving coverage as a couple.

While they assumed there would be some level of inequality, the researchers said that the gap between same-sex and heterosexual health insurance coverage is wider than they previously thought it would be.

Associate professor at UCLA Ninez Ponce said that eliminating inequalities is the only way everyone will receive quality health coverage.

"We found no strong evidence to suggest that California employers are discriminating in providing health insurance to gay and lesbian workers as individuals," says Ponce. "However, we did find that employers were setting coverage rules for dependents that favored legally and heterosexually married employees."

The data for the survey was collected after the passing of the California Insurance Equality Act of 2005. The Act prohibits insurance providers from offering different levels of coverage for same-sex and heterosexual couples.

Knowing their options can help consumers solve healthcare challenges

nospam@example.com (Brafton) — Tue, 18 May 2010 02:00:00 -0500

Getting the appropriate medical treatment is not always easy - even for consumers with insurance coverage.

Knowing their options, however, can help such individuals navigate their way toward better care and affordable health insurance quotes, according to a recent report by CNN Money. Flexible spending accounts offered by many employers are one tax-free way consumers can set aside money, while mail-order prescription plans are often less expensive than their pharmacy-based counterpart.

Individuals with limited income and no access to employer-sponsored insurance may find it difficult to afford individual coverage. Group plans offered by some trade associations may be an option, according to the report. Consumers whose claims are denied may attempt a reversal.

"Make your appeal in writing, send it by certified mail, and request a return receipt," the report said. "Directly address the reasons the insurer gave for the rejection and include as much documentation as possible."

A series of provisions included in the healthcare reform act may help those with other insurance challenges, like pre-existing medical conditions or gaps in Medicare coverage. Young adults under age 26 will also be able to remain on their parents' health insurance plans.

Healthcare costs increase rapidly in 2010, report says

nospam@example.com (Brafton) — Tue, 11 May 2010 02:00:00 -0500

Uncertainty leading up to healthcare reforms may have caused some employers to boost their insurance quotes during the previous months, according to a recent report by Milliman, Inc.

Such costs reached $18,074 for an American family of four in 2010, a $1,303 increase over previous year. This 7.8 percent year-over-year growth represents the largest total-dollar increase since the global consulting and actuarial firm first performed the study in 2006.

Families in New York, Miami and Chicago pay more than $20,000 annually for their health insurance, while those in Phoenix pay as little as $16,071. Inpatient and physician costs make up the majority of these expenses, which have steadily increased during the past five years.

"The economic environment, and particularly the high rate of unemployment, also has implications for healthcare costs," Chris Girod, principal and consulting actuary for MMI, said. "When employees are laid off, there are also cost ramifications for the remaining employees."

The percentage of Americans with employer-sponsored insurance decreased from 59.3 percent in 2007 to 58.5 percent the following year, according to data from the Census Bureau.

New program may help early retirees receive health insurance

nospam@example.com (Brafton) — Tue, 04 May 2010 02:00:00 -0500

A new federal program aimed at assisting early retirees may fill some of the coverage gaps caused by a growing number of employers dropping insurance, according to a recent release by the Department of Health and Human Services.

The Early Retiree Reinsurance Program included in the Patient Protection and Affordable Care Act will provide coverage for those who retire after age 55, but are not yet eligible for Medicare benefits. About $5 million has been allocated for this service, according to the report.

The number of employers offer retiree insurance has dropped to 31 percent from the 66 percent reported in 1988. Growing medical costs have increased the burden faced by uninsured individuals.

"This new program will provide much-needed relief so that employers can provide more retirees with quality, affordable insurance, starting this year," Health Secretary Kathleen Sebelius said.

Applications will become available for employers in June. Those with self-funded, private, nonprofit and other kinds of insurance will be eligible for the Early Retiree Reinsurance Program, which will run through 2014. Other provisions from the healthcare reform bill effective that year may keep coverage affordable.

IRS offers health insurance tax benefits for parents

nospam@example.com (Brafton) — Wed, 28 Apr 2010 02:00:00 -0500

Many young adults lose access to their parents' health insurance coverage when they graduate from secondary or higher education.

The Patient Protection and Affordable Care Act changes the rules for these individuals by allowing them to remain on their parents' plans through age 26. The Internal Revenue Service has taken steps to make the health insurance quotes even more affordable by allowing employees to make pre-tax contributions to such policies.

Individuals currently using their cafeteria plans to cover children under age 27 may be eligible for the tax benefits starting March 30, 2010, forward. Children do not need to be a dependent in order to qualify for this coverage, according to the IRS. Parents whose policies do not cover their adult children may also receive tax benefits immediately, but must adjust their coverage by the end of 2010.

"We want to make it as easy as possible for employers to quickly implement this change and extend health coverage on a tax-favored basis to older children of their employees," said Doug Shulman, commissioner for the IRS.

Federal reform allowing young adults to remain on parents' plans longer will take effect September 23.

Affluent Americans list healthcare costs as top concern

nospam@example.com (Brafton) — Thu, 22 Apr 2010 02:00:00 -0500

Low-income households and individuals with pre-existing medical conditions are not the only ones concerned about increasing health insurance quotes.

Healthcare costs were the top financial concern listed by affluent Americans surveyed in Bank of America's Merrill Lynch Affluent Insights Quarterly. While 49 percent of respondents said they were worried about meeting their financial goals during the current economic conditions, 62 percent were concerned about medical expenses. Saving for retirement was the second most common concern.

"People are feeling better about the economy but still worry about the sustainability of the improvements and have big questions about what to do next," Sallie Krawcheck, president of Bank of America Global Wealth and Investment Management. "They want to preserve capital, minimize risk and hopefully make up some of their losses, but they're not entirely sure where to begin."

Half of the respondents in the survey said that all retirees should have their healthcare costs covered, according to the report. Seventy percent of those age 35 to 50 do not think Medicare will offset healthcare expenses during retirement. Respondents within this age group also reported challenges funding their children's education.

The recent Patient Protection and Affordable Care Act is aimed at reducing health insurance costs for those who need it by mandating that all Americans purchase coverage.

Healthcare cost-shifting increases claims for auto insurance companies

nospam@example.com (Brafton) — Thu, 22 Apr 2010 02:00:00 -0500

Growing health insurance quotes are having an effect on a different kind of coverage: auto insurance.

A recent report by the Insurance Research Council showed that hospital charges are increasingly being paid for through auto injury claims. This has materialized in about $1.2 billion in excess costs, and may be a result of lower reimbursements from government-sponsored health insurance programs like Medicare and Medicaid.

This trend was observed by comparing bodily injury liability claims in Maryland, where cost-shifting has been eliminated, with those in other states, according to the report. Elizabeth Sprinkel, senior vice president of the IRC, said this behavior represents the relationship between property/casualty insurance and healthcare.

"Healthcare legislation enacted by Congress last month underscores the complexity of this relationship," she said. "It will take months, if not years, to understand the full impact of the reforms on hospital cost shifting and the auto insurance system."

Most states currently require residents to purchase auto insurance or have sufficient assets to cover claims. Provisions under the Patient Protection and Affordable Care Act will similarly mandate universal health insurance coverage. Both of these measures are aimed at keeping premiums low for all customers.

Report: Workers may need to take greater responsibility for health

nospam@example.com (Brafton) — Fri, 09 Apr 2010 02:00:00 -0500

Companies hoping to take control of health insurance quotes may pass some of this responsibility to their workers, according to a recent report by Ceridian Corporation.

The report indicated some approaches employers will take in the wake of federal healthcare reform. The Patient Protection and Affordable Care Act will soon issue penalties for Americans who do not purchase health insurance coverage - and for companies that do not offer it.

Promoting wellness programs is one way employers may be able to reduce health insurance claims. Consumer-directed care is another, according to the report.

"Ultimately, employers don't feel they will bring health care costs under control until they help employees achieve a much greater level of personal responsibility for their own health," said Bart Valdez, executive vice president and general manager of Ceridian Benefits Services. "They don’t feel the health care reform law adequately supports employers in doing this."

Recent reform forces companies whose health insurance offerings do not meet minimum standards to pay an 8 percent payroll tax. Those that pay an annual wage of $40,000 will be taxed $3,200 per worker, according to the White House. Small businesses will be able to receive a tax credit through the program.

Americans do not understand terms in healthcare reform debate, survey says

nospam@example.com (Brafton) — Wed, 07 Apr 2010 02:00:00 -0500

Recent healthcare reform prevents insurers from charging higher premiums for indiviudals with pre-existing conditions.

This may mean little to the 55 percent of Americans who don't know what a pre-existing condition is, according to a recent survey by the National Association of Insurance Commissioners. The survey tested the insurance IQ of 1,000 American adults and found that 86 percent of them do not understand all the terms used during the healthcare debate.

"Consumers today are being forced to make difficult decisions about their insurance coverage - decisions that could have a very profound impact on their financial future," said NAIC Chief Executive Officer Therese M. Vaughan. "At the same time, they are being overwhelmed with new and sometimes conflicting information about changes to our nation’s health care policies."

Much of the recent reform is aimed at strengthening coverage for Medicare customers. Forty percent of respondents in NAIC's survey did not know that eligiblity for the government-sponsored program begins for most Americans when they reach age 65.

Others were unaware of if or when workers could make changes to an employer-sponsored group plan.