Beginning July 1, premiums for new federally run high-risk insurance plans will be slashed in efforts to spur enrollment while states gear up to launch their respective health insurance exchanges, according to a Kaiser Health News report.
States are required to have established insurance exchange markets for private consumers and businesses by a 2014 deadline, after which time insurers cannot charge higher premiums or deny coverage to those with pre-existing conditions. In addition to the slashed insurance premiums, applicants will no longer be required to submit a rejection letter from private insurers proving they were denied coverage to federal health plans, according to the news report.
The move by the Obama administration was spurred by new data showing the federally run health plans (operating in 23 states and the District of Columbia) have not enrolled as many consumers as previously expected. The federal government set aside a reported $5 billion to fund the federal health plans, according to the news report.
Starting in July, high-risk health insurance premiums may be cut by as much as 40 percent in 17 states and the District of Columbia. Premiums will remain the same in the remaining six states with federally run health plans, since high-risk premiums are already reflective of what healthy individuals pay for their health plans, according to the news report.
To spur even greater enrollment in federal health plans, the Department of Health & Human Services will also start paying insurance agents and brokers for signing up consumers, according to the news report.
Read the news report about the high-risk health insurance plans.
Related Articles on Health Plans:
Texas Bill Would Give States Autonomy in Running Medicaid
Commonwealth Fund: 45% of Uninsured Under 30 Delay Care Due to Healthcare Costs
Illinois Medicaid Enrolls 40,000 Individuals Into Private Health Plans
States are required to have established insurance exchange markets for private consumers and businesses by a 2014 deadline, after which time insurers cannot charge higher premiums or deny coverage to those with pre-existing conditions. In addition to the slashed insurance premiums, applicants will no longer be required to submit a rejection letter from private insurers proving they were denied coverage to federal health plans, according to the news report.
The move by the Obama administration was spurred by new data showing the federally run health plans (operating in 23 states and the District of Columbia) have not enrolled as many consumers as previously expected. The federal government set aside a reported $5 billion to fund the federal health plans, according to the news report.
Starting in July, high-risk health insurance premiums may be cut by as much as 40 percent in 17 states and the District of Columbia. Premiums will remain the same in the remaining six states with federally run health plans, since high-risk premiums are already reflective of what healthy individuals pay for their health plans, according to the news report.
To spur even greater enrollment in federal health plans, the Department of Health & Human Services will also start paying insurance agents and brokers for signing up consumers, according to the news report.
Read the news report about the high-risk health insurance plans.
Related Articles on Health Plans:
Texas Bill Would Give States Autonomy in Running Medicaid
Commonwealth Fund: 45% of Uninsured Under 30 Delay Care Due to Healthcare Costs
Illinois Medicaid Enrolls 40,000 Individuals Into Private Health Plans