[…] Premiums for health insurance in the individual market are lower than those in the group market, but there’s no employer paying a portion of the premium. And the premiums alone amount to 10% of household income. When you add in the deductibles and other out of pocket expenses, it’s not surprising at all that nearly half of everyone buying insurance in the individual market was considered high-burden in 2006 (spending more than 10% of household income on health care). […]
Individual/Family Health
Another Way Exercise Could Lower Health Care Costs
[…] Maybe if doctors and patients were all aware of the fact that exercise is more beneficial in the long term than anti-depressants, we could start to cut down on the number of anti-depressant prescriptions being written. Lower utilization of pharmaceutical products would be helpful in terms of limiting the overall cost of medical claims and thus the price of health insurance as time goes on. […]
Demand For HSAs Continuing To Grow
[…] A new report from AHIP notes that the number of Americans covered by HDHP/HSA policies reached 10 million in 2010, up from 8 million last year. In Colorado, 9.2% of the under-65, privately insured population has HSA qualified coverage, which is the third-highest percentage in the nation. A recent study by the Mountain States Employers Council reports that 27% of Colorado employers surveyed are offering consumer-driven health plans this year, up from 21% last year. […]
Options For Maternity Coverage In Colorado Disappearing Fast
Getting individual health insurance with maternity benefits just got a lot harder for women in Colorado. For the last few years, there have only been three major carriers that offered maternity coverage on individual policies: Golden Rule (United HealthOne), Assurant, and Rocky Mountain Health Plans. As of the end of April 2010, both Golden Rule… Read more about Options For Maternity Coverage In Colorado Disappearing Fast
Balancing Individual And Group Health Insurance After Reform
[…] It remains to be seen how health care reform will actually impact the breakdown of individual versus group health insurance. Currently, there are far more people with group coverage than individual policies. The balance might shift a bit as health care reform takes effect, but I doubt that there will be a mass exodus away from group plans in favor of individual coverage.
An Alternative To Rescission
[…] One way or another, my guess is that if all individual health insurance policies had to be thoroughly underwritten at the time of application, health insurance carriers would figure out a way to make the process as efficient as possible. And the happy result would be that if people were approved for coverage, they could rest assured that there would be no possibility of rescission in their future. It’s likely that thorough underwriting would result in more people being declined for coverage, but at least those people would then have the option of applying for coverage through a high risk pool like Cover Colorado. […]
Anthem Rate Increase Likely Justified By Cost Of Claims
[…] As I noted last month, while Anthem’s rate increase for 2010 was a big one, their premiums are still very much in line with premiums currently being charged by other individual health insurance carriers in Colorado. My guess is that de Percin’s take on this is probably correct: “… it is outrageous but it’s probably not a case of gouging.”
Expanding Access To Health Insurance For People With Disabilities
[…] Will guaranteed issue health insurance – and subsidies to help pay for it – starting in 2014 also help to decrease the number of people receiving SSDI? If people had a way to obtain affordable health insurance without having to qualify as disabled, it stands to reason that there would be more incentive for people to return to work after a serious illness or injury.
Three Of The Top Insurers Extending A Hand To Young Adults
Three of the nation’s top health insurance carriers – Wellpoint, United Healthcare, and Humana – have announced that they will automatically keep young adults under the age of 26 on their parents’ policies between now and September 23, when the health care reform legislation guarantees this option for all everyone under the age of 26. […]
Compromises Necessary To Improve Access To Healthcare
[…] We definitely needed a solution to make health insurance available for everyone, and there’s no way to do that without taking away some of the freedoms from both sides (including the ability for insurance companies to decline applicants, and the ability for people to choose to not have health insurance). The legislation isn’t perfect, and it won’t please everyone, but hopefully a decade from now, the problem of millions of Americans living without health insurance will be a memory.
Eligibility For Colorado State Mandated Basic And Standard Plans
[…] All individual health insurance applications in Colorado ask a set of questions to determine if the applicant qualifies as a group of one. If the applicant does, and is declined for the individual coverage, the insurance carrier must offer group of one coverage instead (although it will be significantly more expensive than the individual policy). If the person does not meet the definition of a group of one, he or she will be sent a notice by the insurance carrier regarding eligibility for Cover Colorado.
Playing The Odds With Health Insurance
[…] The premium costs that are often tossed around represent group premiums, which are partially (sometime completely) paid by employers. Once individual health insurance becomes guaranteed issue in 2014, the premiums will likely rise to cover the cost of paying for pre-existing conditions. The only way to offset this rate hike is for more healthy people to join the insurance pool. That’s where the mandate comes in, and hopefully it will work.
Imerica Proceeding To Liquidation
Last fall, Imerica was placed in rehabilitation and stopped selling new policies. As of April 2010, however, the rehabilitation process has been deemed unsuccessful, and Imerica will now be liquidated. Imerica policyholders will be notified of the liquidation, and should begin looking for new coverage if they have not already. […]
Expanding Coverage For People With Health Conditions
One of the provisions of the new health care reform law is $5 billion in federal funding for high risk pools, set to begin operating this summer, that will provide health insurance for people with pre-existing conditions who don’t currently have health insurance. This is intended to be a stop-gap until 2014, when high risk pools will presumably no longer be necessary, since private health insurers will have to begin accepting all applicants in 2014. […]
How Reform Will Impact Lifetime And Annual Benefit Maximums
[…] Another question we’ve had recently has to do with lifetime and annual benefit maximums. So I read those sections of the Senate Bill and the changes added during reconciliation, to get a good understanding of exactly how the new legislation will impact individual health insurance policies. […]
Governor Ritter Signs Health Insurance Gender Discrimination Bill
Colorado Governor Ritter signed a bill yesterday requiring individual health insurance carriers to charge the same prices for women and men. Colorado House Bill 1008 would go into effect January 1, 2011, and would require that gender no longer be used to set prices on individual health insurance policies that begin or renew on or after that date. So by the end of 2011, we can assume that pretty much every policy in Colorado will be impacted, as nearly all policies renew annually. […]
Pre-Existing Conditions, Children, And Health Care Reform
[…] If I’m understanding the bill correctly, it looks like people (adults and children) will still be subject to full medical underwriting until 2014, and can still be declined for coverage until that time. It appears that policies that use rate increases rather than exclusions won’t be impacted at all, and policies that use exclusions will still be able to decline applicants, including children, until 2014.
Health Insurance Options For Young Adults
One of the provisions in the health care reform bill allows children to remain on their parents’ health insurance policies until the age of 26. You may recall that a couple of years ago, Colorado passed a law allowing children here to remain on their parents’ policies until the age of 25, so the new law won’t have as much of an impact here as it will in states that currently boot young adults off of their parents’ coverage at younger ages. […]
Colorado HB 1166 Makes Insurance Easier To Understand
[…] His Plain Language In insurance bill passed out of the House last week, and is headed for the Senate this week. It would require that all auto, dental, long term care, and health insurance policies sold in Colorado be written at no more than a 10th grade reading level starting in 2010. It would also require that all the fine print be no finer than a 10 point font. […]
Going In The Wrong Direction
Amnesty International has released a shocking and sobering report about maternal mortality in the US. In 1987, there were 6.6 maternal deaths per 100,000 live births. Two decades later, that number had risen to 13.3 deaths per 100,000 live births. Part of the increase is due to better reporting, but there are also more women dying from pregnancy complications than there were in the 80s. […]
The Grass Might Be Greener, But It Sure Is Pricey
[…] Individual health insurance is a great option for people who are healthy, and especially those who are relatively young… But the price increases with age, and many early retirees find it a challenge to pay for health insurance during the years before they are eligible for Medicare. My guess is that even if private individual policies could be purchased by people over the age of 65, very few people would take that option, simply because of the price.
Health Care Reform Should Be Federally Driven
[…] I feel fortunate to live in a state where we have a solid high risk pool (Cover Colorado) and lots of options for policies in both the individual and group market. But I can’t help but think of people who live in states where there aren’t any health insurance policies available to people who are sick and not covered by an employer’s plan. For them, health care reform on a state level has a long way to go, and might not happen at all.
How The Public Views Health Care Reform
[…] The people who are hurting the most are those who purchase their own health insurance, and people who work for very small businesses that struggle every month to continue to pay the premiums to keep their policies in force. These people make up a relatively small percentage of the population, and their voices are being drowned out by all the people who don’t have to deal with the issues being addressed by health care reform.
Colorado Division Of Insurance Reconsidering Anthem Rate Increase
[…] But these numbers would seem to indicate that while Anthem’s rate increase may have been large, it seems to be in line with what other carriers are charging in Colorado. For the little test I conducted, Anthem’s premium was the second-lowest I found, and the only one with a lower premium had an additional thousand dollars in out of pocket exposure.
Competition Among Private Health Insurance Companies
[…] I will be interested to see more on the Wellpoint story as the rate increases are investigated this spring, but I imagine that it’s not a simple problem or one that has a simple solution. It’s true that Wellpoint is in business to make money. But a dramatic, highly publicized rate increase is bad for business, and it’s hard to explain it away as a company simply trying to raise profits.