| Highmark merger plan brings scrutiny
Politicians, competing insurance companies and health care providers expressed concern Wednesday that a combination of the state's two largest health insurers, Highmark Inc. and Independence Blue Cross, will damage competition and raise health care costs. Ending two years of discussions, Pittsburgh's Highmark and Philadelphia's Independence announced yesterday that they intend to merge, creating a new company that will dwarf all other competitors in the state combined. The new company will insure 7.1 million of the state's 12.4 million residents. Such dominance has roused the state House and Senate to take a closer look at such deals. Yesterday, the state Senate approved a bill by a 48-0 vote that would increase state Department of Insurance oversight of such deals between non-profit entities.
Rep. Stark Introduces Universal Health Insurance Bill
House Ways and Means Health Subcommittee Chair Pete Stark (D-Calif.) on Thursday introduced a bill that would seek to provide health insurance to all U.S. residents through Medicare and employer-sponsored coverage, the Oakland Tribune reports. The AmeriCare Health Care Act would establish AmeriCare, a new program that would use Medicare to provide health insurance to residents who do not receive employer-sponsored coverage. AmeriCare would cover prescription drugs, mental health treatments, pediatric care and family planning services. Employers, individuals and states would help finance AmeriCare, which would provide health insurance to residents with annual incomes less than 300% of the federal poverty level at no cost (Oakland Tribune, 3/31). According to a Commonwealth Fund analysis, the bill would cost the federal government $154.5 billion in 2007 and reduce overall health care spending by $60.7 billion.
AARP wants candidates to focus on health care
ST. PETERSBURG - Presidential candidates campaigning in Florida can expect persistent grilling about health insurance, prescription drugs and Social Security if AARP has its way. The lobbying group for older Americans announced Wednesday that it will stock every public campaign event in the state with vocal volunteers who will try to pin candidates down on health care reform and financial security for retirees. The moment is ripe, AARP "social impact" executive Nancy LeaMond said in a news conference. Polls show that Americans place a high priority on accessible, affordable health care, she said. And business groups are beginning to take the same view. The Business Roundtable, traditionally a Republican-tilting organization, will join AARP in trying to steer the public debate toward health care and retirement issues, as will the Service Employees International Union, usually aligned with Democrats.
Insuring your life is now cheaper
Think about college tuition, health care and your electric bill, and it's easy to assume that prices only move in two directions: up and way up.
But you might not have noticed that one important financial product is significantly cheaper these days: term life insurance. Industry experts estimate that term premiums have fallen 40 percent or more in the past decade alone.
"This is great news," said Gary Schatsky, a financial planner in New York. "You're buying the same thing you bought yesterday at a lower price. It doesn't get any better than that."
Part of the credit goes to longevity. With people living longer, insurers expect fewer claims in a given period and have been able to reduce premiums, industry officials said. Competition also has trimmed prices.
Allstate Insurance Appoints Sari Macrie As VP, Corporate Relations ...
(RTTNews) - Allstate Insurance (ALL | charts | news | PowerRating) said it has appointed Sari Macrie as vice president of corporate relations. In this role, Macrie will oversee internal and external strategic communications for the enterprise. Macrie is replacing Peter Debreceny, who is retiring from Allstate after nine years with the company and more than 35 years in the public relations field. Macrie joins Allstate with more than 20 years of financial and strategic communications experience both as a corporate officer and a consultant. Macrie has been the senior vice president of Corporate Communications at Cardinal Health and the vice president of Investor Relations at Ameritech. Copyright(c) 2007 RealTimeTraders.com, Inc. All Rights Reserved .
Blue Cross Tried To Steal Customers
Apr. 4--As two possible buyers kicked the tires Tuesday at Universal Health Care Insurance Co. in St. Petersburg, the company's attorneys fought separate legal battles against the state and a competitor, accusing both of using illegal tactics to try to put the young company out of business. Universal filed a complaint against Blue Cross and Blue Shield of Florida on Tuesday in Pinellas Circuit Court, saying that the state's largest insurer deliberately smeared Universal to steal its customers. Universal said Blue Cross committed illegal acts, including forgery, which would entitle the Pinellas company to triple damages if it can prove its case. Blue Cross "intentionally, maliciously and unjustifiably interfered with" Universal's relationships with its members and doctors, the complaint states, through "false, misleading, deceptive (and) defamatory conduct." Blue Cross has acknowledged sending e-mail to 3,000 sales agents on March 26 that said Universal's Any, Any, Any plan had gone out of business and its members had been moved into a Blue Cross drug plan for Medicare beneficiaries.
Buyers getting break on term life insurance
Think about college tuition, health care and your electric bill, and it's easy to assume that prices only move in two directions: up and way up.
But you might not have noticed that one important financial product is significantly cheaper these days: term life insurance. Industry experts estimate that term premiums have fallen 40 percent or more in the past decade alone.
"This is great news," said Gary Schatsky, a financial planner in New York. "You're buying the same thing you bought yesterday at a lower price. It doesn't get any better than that."
Part of the credit goes to longevity. With people living longer, insurers expect fewer claims in a given period and have been able to reduce premiums, industry officials said.
Competition also has trimmed prices.
Health Savings Account participants take on more risk ...
With health insurance costs spiraling, employers and consumers are looking for ways to regain control over their health-care expenses and choices, and lawmakers are looking for ways to make the health-care system more competitive. One option is for consumers to take on more risk and responsibility. That's where consumer-directed health plans come in. These are high-deductible insurance plans paired with a tax-deferred account. Because the premiums for high-deductible plans are significantly lower, participants can invest the money saved into an account for future health-care expenses on a tax-free basis. They can also use the funds to pay for medical expenses until they reach their deductible, with preventative care often covered by the plans. In a Health Savings Account (HSA), the account is owned by the individual or employee, though an employer can contribute.
Companies Find New Insurance Program Makes Exercise Pay Off
Chris Spensley was 49 pounds heavier when his employer, Seattle's Cobalt Group, implemented an innovative insurance plan in January 2006. The fitness and wellness portions of ClearAdvantage, a new program from ClearPoint LLP insurance brokerage of Seattle, have prompted the 41-year-old manager to resume his running, improve his diet and engage in friendly competition with colleagues to get fit. "I haven't felt this good since I was 25 years old," Spensley said. "I think I've extended my life a good bit." One component of ClearAdvantage is that the employer can impose a high deductible fee while also setting aside money that employees can use toward paying that deductible. This is meant to make employees more aware of what medicine and medical treatment really cost -- and of what alternatives may be available -- while not penalizing them for deciding to use health care.
More Than launches phone service for pet owners
More Than, the Royal & Sun Alliance-owned direct insurer, is launching an "NHS Direct" style telephone service for pets. Vetphone will be a free service for pet owners that will help them decide if their animal needs to see a vet. Vetfone, which launches today, will offer access to qualified veterinary nurses who offer practical advice on health concerns for any domestic animal, even those not covered under and insurance policy. The insurer says up to 49% of emergency vet visits may be unnecessary, with pet owners needing advice rather than urgent treatment. The service will also give information on non-urgent matters such as toilet training, behavioural issues, diet, grooming and vaccinations. Vetfone director Michael Maltby was part of the team that created the NHS Direct.
Pet health insurance has proved worthwhile
Overall, pet health insurance has proved worthwhile. Health insurance for pets helps maintain the human-animal bond and keeps pet owners from having to dip into savings accounts to provide care for their pets. Q. I have two cats that spend a lot of time outdoors, especially when it is warm. Should I be worried about parasites such as worms and fleas? A. Outdoor cats are exposed to a number of different parasites such as intestinal worms, fleas, ticks, mites, lice and even heartworms. Intestinal worms such as hooks and rounds are contacted by walking on contaminated soil and ingesting the microscopic larvae by licking their paws. Fleas are pretty much everywhere and can be picked up indoors and out. Cats make it pretty difficult for ticks to embed by their constant grooming.
California Mayors Recognize Anniversary Of Pet Insurance In America
In a broad show of support for California-based Veterinary Pet Insurance dozens of mayors across the 'Golden State' have written letters to VPI congratulating the pet-centric company on reaching the historic milestone of protecting America's pets for a quarter of a century.VPI has also proclaimed April 7 as National Pet Health Insurance Day in commemoration of the company's very first policy issued on that day in 1982 to television's Lassie. As the nation's oldest and largest pet health insurance provider, VPI has received signed letters of congratulations from over 50 mayor's offices throughout California, representing a population of nearly four million people -- including those in Long Beach, South San Francisco, Anaheim, Burbank, and VPI's headquarters, Brea -- conveying gratitude to VPI for its commitment to helping make proper veterinary care affordable and empowering pet owners to make optimal healthcare decisions for their pets."Because we were founded and have our headquarters in California, we place tremendous value on the support we've received from our leaders in cities and towns across the state," said Dennis P.
Remedy sought for health premiums
Saying Starbucks workers get better health benefits, three state employees delivered 3,000 petition signatures to legislative leaders Wednesday in support of lower insurance premiums. "If baristas can make better health insurance than state troopers, that's just criminal," Lori Ganni told House Speaker Andrew Romanoff and Senate President Joan Fitz-Gerald during a morning meeting. Ganni, who works for the Department of Labor and Employment, and two other state workers delivered the pile of petitions that Colorado Association of Public Employees gathered. This year's budget proposes increasing the state's contribution to employee health plans by 10 percent, but Fitz-Gerald and Roman off agreed the state needs to try to do more. "It used to be the state employee benefits package was so good it made up for the low pay," Fitz-Gerald said.
Pet health insurance gains ground in North America
Health insurance for pets and companion animals can be almost as confusing as human health insurance, but it also can come in handy - particularly for an animal owner whose companion develops a major medical condition. In the United States, only a small percentage of pet owners carry health insurance for their animals. Pet insurance is the topic of many articles in the popular press, though, and insurers are selling more policies as pet owners become aware of the option. The AVMA supports the concept of companion animal health insurance. In part, the AVMA guidelines on pet health insurance state: "The Association recognizes that a viable companion animal health insurance program will be important to the future of the veterinary profession's ability to continue to provide high quality and up-to-date veterinary service." The National Commission on Veterinary Economic Issues just recently launched a new benchmarking tool regarding pet health insurance: "Do your clients know how to cushion a fall?" The tool asks veterinarians about the ways that they recommend insurance to clients, whether they have concerns about insurance, and how the financial constraints of their clients affect treatment.
Small Business Health Insurance Pools Approved By House
Des Moines, Iowa - Making good on another promise outlined in their Plan for Prosperity, the Iowa House overwhelmingly approved a bill today to allow small businesses to pool their purchasing power to get better rates on health insurance for their employees.
"One of our top priorities this year was to help small business with rising health care costs and I'm pleased we've made progress today," said State Representative Dawn Pettengill, who helped craft the bill and managed it through the House. "Many small businesses struggle with rapidly rising health insurance costs or cannot even offer health care coverage because it will put them out of business. I believe the proposal we passed today will provide some relief."
House File 790 allows businesses with 2-50 employees to join a group health insurance plan through an association.
Finally, some good news about health insurance
For the first time in six years, Colorado's health insurance market is showing signs of improvement. More employers are offering insurance coverage and more working families are being covered. From 2005 to 2006, 1,289 more businesses offered coverage to their employees and dependants, according to a report from the Colorado Division of Insurance. That seems like a very modest improvement until it's compared to the previous five years. From 2000 to 2005, nearly 23,902 businesses discontinued coverage — an average loss of 4,780 businesses per year. A key contributor to this improved climate is something called “rating flexibility." In plain English, that means forcing insurance companies to compete for your businesses. Unfortunately, a handful of special-interest lobbyists at the Capitol now want to go back to the “bad old days" by rolling back reforms that helped Colorado turn the corner toward a stable health insurance market.
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