A new study by a leading firm offering Health Savings Accounts shows that 43% of those purchasing the new accounts since January 1 were previously uninsured.
The study released June 21 by Assurant Health, a national health insurance carrier that focuses on individual and small group policies, shows that the new accounts are appealing to those who previously were shut out of the insurance market, to families, to older Americans, and to workers of all income levels.
The findings provide real data to prove critics wrong when they claim that the new consumer-directed health care products are only for the “healthy and wealthy.”
Data from the on-line brokerage company eHealthInsurance shows that nearly half of HSA purchasers make less than $50,000 a year.
Wednesday, June 30, 2004
Monday, June 28, 2004
Poorly installed child seats offer poor protection
BLOOMINGTON, Ill., June 28 /PRNewswire/ -- Although the overwhelming
majority of parents believe their children are properly buckled up in the car,
information from certified child car seat inspectors show that's not the case.
During State Farm Insurance's most recent nationwide Child Safety Day events, held
May 15, parents and caregivers had their child seats checked by trained
inspectors. What they found was that only 13 percent of the safety seats and
29 percent of the booster seats were properly installed. Since the smallest
passengers in the car are at the greatest risk, this is of great concern.
"With increased security concerns, more people are driving to their
vacation destinations," said Susan Hood, Vice President-Claims. "We all want
the best for our children, so taking the time to make sure they're properly
secured can make all the difference in the world."
Parents are strongly urged to follow manufacturer's instructions when
installing the child safety seat. They should also remember that children who
are too big for a safety seat should be placed in a belt-positioning booster
seat. And children under the age of 12 should never ride in the front seat.
majority of parents believe their children are properly buckled up in the car,
information from certified child car seat inspectors show that's not the case.
During State Farm Insurance's most recent nationwide Child Safety Day events, held
May 15, parents and caregivers had their child seats checked by trained
inspectors. What they found was that only 13 percent of the safety seats and
29 percent of the booster seats were properly installed. Since the smallest
passengers in the car are at the greatest risk, this is of great concern.
"With increased security concerns, more people are driving to their
vacation destinations," said Susan Hood, Vice President-Claims. "We all want
the best for our children, so taking the time to make sure they're properly
secured can make all the difference in the world."
Parents are strongly urged to follow manufacturer's instructions when
installing the child safety seat. They should also remember that children who
are too big for a safety seat should be placed in a belt-positioning booster
seat. And children under the age of 12 should never ride in the front seat.
Shareholders approve Anthem/Wellpoint merger
INDIANAPOLIS, and THOUSAND OAKS, Calif., June 28 /PRNewswire-FirstCall/ --
Anthem, Inc. (NYSE: ATH) and WellPoint Health Networks Inc. (NYSE: WLP) today
announced that both companies' shareholders have overwhelmingly voted in favor
of proposals necessary to complete their pending merger.
WellPoint shareholders voted to merge with Anthem and create the nation's
leading health benefits company. WellPoint received more than 118 million
votes, with approximately 97 percent of shareholders represented at the
meeting voting in favor of the merger.
Anthem shareholders voted to issue the stock that would be issued to
WellPoint shareholders as a part of the merger and change the corporate name
from Anthem, Inc. to WellPoint, Inc. Anthem received more than 108 million
votes, with approximately 97 percent of shareholders represented at the
meeting voting in favor of issuing the stock and voting in favor of changing
the corporate name.
Anthem, Inc. (NYSE: ATH) and WellPoint Health Networks Inc. (NYSE: WLP) today
announced that both companies' shareholders have overwhelmingly voted in favor
of proposals necessary to complete their pending merger.
WellPoint shareholders voted to merge with Anthem and create the nation's
leading health benefits company. WellPoint received more than 118 million
votes, with approximately 97 percent of shareholders represented at the
meeting voting in favor of the merger.
Anthem shareholders voted to issue the stock that would be issued to
WellPoint shareholders as a part of the merger and change the corporate name
from Anthem, Inc. to WellPoint, Inc. Anthem received more than 108 million
votes, with approximately 97 percent of shareholders represented at the
meeting voting in favor of issuing the stock and voting in favor of changing
the corporate name.
Tuesday, June 22, 2004
Blue Cross Blue Shield of North Carolina faces unfavorable legislation
NEW YORK--(BUSINESS WIRE)--June 21, 2004--The North Carolina Department of Insurance has proposed legislation that could require Blue Cross Blue Shield of North Carolina (BCBSNC; A+/Stable/--) to return some of its surplus to consumers because of the company's strong risk-based-capital position. Standard & Poor's is not taking any rating action on BCBSNC at this time. However, Standard & Poor's is monitoring this proposal. If the bill passes in its current form or an alternative form, Standard & Poor's will determine if there are any negative implications for the BCBSNC ratings.
This proposal is similar to ones in Pennsylvania and Rhode Island. It differs in that any surplus above an indicated level will immediately be deemed inappropriate and would need to be corrected within a short timeframe. As it is currently written, this proposed legislation could have a negative impact on the BCBSNC rating if it becomes law.
The current ratings on BCBSNC are based on the company's extremely strong operating performance, membership growth, leading market share in North Carolina, and very strong capitalization.
This proposal is similar to ones in Pennsylvania and Rhode Island. It differs in that any surplus above an indicated level will immediately be deemed inappropriate and would need to be corrected within a short timeframe. As it is currently written, this proposed legislation could have a negative impact on the BCBSNC rating if it becomes law.
The current ratings on BCBSNC are based on the company's extremely strong operating performance, membership growth, leading market share in North Carolina, and very strong capitalization.
Do you have the right amt. of car insurance?
4 of every 5 drivers have some type of car insurance. However, many of them don't have the coverage they need to protect themselves if they're hit from an uninsured driver, and are left with a hefty deductible.
Recent figures by insurance companies show claims coming from uninsured drivers cost the industry $400 million a year. So why doesn't everyone just get insurance? "There are various reasons. One-depending on their driving record their past claim history, insurance maybe just too high to afford it," says John Durdin with State Farm insurance.
John says in many cases drivers believe they'll never be involved in an accident. To them, insurance would just be a waist of money.
At Quality Body Works in Longview, Patrick Rushing says he's seeing more and more accidents involving uninsured drivers. "This year that we've gotten quite frequently that we're writing estimates for people that have been hit by people who are uninsured," says Patrick Rushing.
Insurance companies say don't wait for an accident to find out what you're covered for. Besides collision coverage, you also want to be covered for uninsured motorists. That means when you are involved in an accident with a driver who has no insurance you're insurance will pay all the costs.
"There's a chance someone's going to injure you or damage your vehicle and not be able to pay for it," says John.
He says it's always cheaper to pay now rather than later.
Insurance companies say the price of adding uninsured coverage to your insurance isn't too costly. It ranges anywhere from $5 to $15 a month, depending on your driving record, how you use your vehicle, and your credit rating.
Recent figures by insurance companies show claims coming from uninsured drivers cost the industry $400 million a year. So why doesn't everyone just get insurance? "There are various reasons. One-depending on their driving record their past claim history, insurance maybe just too high to afford it," says John Durdin with State Farm insurance.
John says in many cases drivers believe they'll never be involved in an accident. To them, insurance would just be a waist of money.
At Quality Body Works in Longview, Patrick Rushing says he's seeing more and more accidents involving uninsured drivers. "This year that we've gotten quite frequently that we're writing estimates for people that have been hit by people who are uninsured," says Patrick Rushing.
Insurance companies say don't wait for an accident to find out what you're covered for. Besides collision coverage, you also want to be covered for uninsured motorists. That means when you are involved in an accident with a driver who has no insurance you're insurance will pay all the costs.
"There's a chance someone's going to injure you or damage your vehicle and not be able to pay for it," says John.
He says it's always cheaper to pay now rather than later.
Insurance companies say the price of adding uninsured coverage to your insurance isn't too costly. It ranges anywhere from $5 to $15 a month, depending on your driving record, how you use your vehicle, and your credit rating.
Saturday, June 19, 2004
Esurance Explains Insurance Benefits for Cohabiting Couples
SAN FRANCISCO, June 16 /PRNewswire/ -- Times have changed. Most estimates show that over half of the U.S. population will cohabit with a partner at some point in a lifetime. Esurance, a direct-to-consumer personal auto insurance company, encourages cohabiting couples to streamline their finances by purchasing one policy per household.
Esurance is also one of the only insurance companies offering additional savings to cohabiting couples, regardless of their official marital status. Drivers sharing the same garaging address with a significant other may qualify for a multi-car discount on their auto insurance policy.
Kristin Brewe, Esurance's Director of Corporate Communications, explained, "If any driver shares a household with someone, it makes great financial sense to combine auto insurance policies. In addition to potential rate savings, busy couples can save time managing their auto insurance. For two-car households, Esurance's multi-car discount for domestic partners can provide additional savings."
Esurance's multi-car discount is automatically applied when eligible drivers get a quote at www.esurance.com. Esurance customers can also benefit from a variety of additional discounts. Though discounts vary from state to state, Esurance customers can get discounts for good driving, safety and anti-theft equipment, home ownership, and/or certain preferred occupations. Esurance also provides instant rate comparisons to make it easier for customers to shop for auto insurance.
Esurance is also one of the only insurance companies offering additional savings to cohabiting couples, regardless of their official marital status. Drivers sharing the same garaging address with a significant other may qualify for a multi-car discount on their auto insurance policy.
Kristin Brewe, Esurance's Director of Corporate Communications, explained, "If any driver shares a household with someone, it makes great financial sense to combine auto insurance policies. In addition to potential rate savings, busy couples can save time managing their auto insurance. For two-car households, Esurance's multi-car discount for domestic partners can provide additional savings."
Esurance's multi-car discount is automatically applied when eligible drivers get a quote at www.esurance.com. Esurance customers can also benefit from a variety of additional discounts. Though discounts vary from state to state, Esurance customers can get discounts for good driving, safety and anti-theft equipment, home ownership, and/or certain preferred occupations. Esurance also provides instant rate comparisons to make it easier for customers to shop for auto insurance.
Blue Cross receives award for anti-smoking activities
Blue Cross and Blue Shield of Minnesota has received an award recognizing the health insurer's commitment to reduce smoking.
Eagan-based Blue Cross received the Public Health Leadership Award from America's Health Insurance Plans.
The award, Addressing Tobacco Control: Leading by Example, honors one health plan in the nation for its leadership efforts to help smokers quit and to prevent tobacco use.
Blue Cross said its various anti-smoking programs have been very successful, reducing the number of adult Blue Cross members who smoke from 14.7 percent to 12.4 percent between 1999 and 2003.
Blue Cross is the largest health plan based in Minnesota, covering a total of 2.6 million members in Minnesota and elsewhere in the country.
Eagan-based Blue Cross received the Public Health Leadership Award from America's Health Insurance Plans.
The award, Addressing Tobacco Control: Leading by Example, honors one health plan in the nation for its leadership efforts to help smokers quit and to prevent tobacco use.
Blue Cross said its various anti-smoking programs have been very successful, reducing the number of adult Blue Cross members who smoke from 14.7 percent to 12.4 percent between 1999 and 2003.
Blue Cross is the largest health plan based in Minnesota, covering a total of 2.6 million members in Minnesota and elsewhere in the country.
Health insurance costs challenge small business bottom line
Supporters of congressional legislation that would let small businesses band together to demand lower prices on health insurance say the plan would lower policy prices 10 percent to 15 percent.
The proposal, which passed the U.S. House of Representatives last month and is pending in the Senate, would allow small companies to form "association health plans" that would be regulated by federal rather than state officials. The plan, sponsored by Republican Sen. Jim Talent of Missouri, is designed to reverse a trend that shows most uninsured workers in the country are employed by small companies.
Most small-business owners don't offer health insurance and cite costs as the top reason, according to a survey last year by the 600,000-member National Federation of Independent Business.
The proposal, which passed the U.S. House of Representatives last month and is pending in the Senate, would allow small companies to form "association health plans" that would be regulated by federal rather than state officials. The plan, sponsored by Republican Sen. Jim Talent of Missouri, is designed to reverse a trend that shows most uninsured workers in the country are employed by small companies.
Most small-business owners don't offer health insurance and cite costs as the top reason, according to a survey last year by the 600,000-member National Federation of Independent Business.
Tuesday, June 15, 2004
Safest places to live
LOS ANGELES, June 15 /PRNewswire/ -- We all want to feel secure about
where we live, but where are the most secure places in America? According to
Farmers Insurance Group's ranking of the Top 25 Most Secure U.S. Places to
Live, the most secure location in the U.S. is the Provo-Orem, Utah area.
The rankings, compiled by database experts at http://www.bestplaces.net ,
took into consideration crime statistics, risk of natural disasters and job
loss numbers in 213 U.S. metropolitan areas with populations of 200,000 or
more.
"Feeling safe and secure is a basic human instinct," said Jeff Beyer,
senior vice-president, corporate communications for Farmers Insurance Group.
"To some people, feeling safe against crime is most important. To some, it's
financial security. And to others, it may be not worrying about losing their
home. We'd all like to find a place to live or work that allows us to feel
that security."
Located about 45 miles south/southeast of Salt Lake City, Provo lies in
the heart of the Utah Valley between Utah Lake and the Wasatch Mountain Range.
Settled by Mormon pioneers in 1849, the region was originally inhabited by the
Ute Indians.
Today, it is home to Brigham Young University and Utah Valley State in
nearby Orem. The region has a population of 387,817 and, along with ninth-
ranked Danbury, Conn., shares the lowest crime rate of the 213 areas studied.
Dutchess County, N.Y., located midway between New York City and Albany in
the rolling hills and forests of the Hudson River Valley, ranks second among
Farmers Insurance's most secure areas. Crime is low and unemployment even
lower in this affluent community of 287,752 of mainly professional and
technical workers.
The third-ranked Most Secure Place is Madison, Wis., the state capital of
Wisconsin and home to the University of Wisconsin. A cultural center
surrounded by dairy farms and cropland, Madison (pop. 437, 110) is often cited
as one of the nation's healthiest cities and among the best places to retire.
Rounding out the top five are Lancaster, Pa., located in the heart of the
Pennsylvania Dutch Region about 65 miles west of Philadelphia, and the Albany-
Troy-Schenectady, N.Y. area, with many activities revolving around the
functions of state government and a very low risk of natural disasters.
Among the remaining Most Secure Places, Olympia, Wash (#7) and Honolulu,
Hawaii (#15) received the highest ranks for having few natural disasters,
while Fayetteville-Springdale-Rogers, Ark. (#11) and Portland, Me. (#13) have
the lowest unemployment rates among the cities studied.
Two seemingly notable "surprises" on the top 25 list are a pair of Nevada
cities: Las Vegas (#21) and Reno (#25). In trying to shake its image of "Sin
City," Las Vegas has done much in the last five years to remake itself into a
family destination. And while crime remains an issue, steady employment and a
low risk of natural disasters helped boost its ranking.
Likewise, Reno, despite its plethora of casinos and gaming attractions,
has sought to diversify by bringing in new industry and has become one of the
fastest-growing areas in the U.S.
Here is the entire list, in order, of Farmers Insurance's Top 25 Most
Secure Cities in the United States:
1) Provo-Orem, Utah
2) Dutchess County, N.Y.
3) Madison, Wis.
4) Lancaster, Pa.
5) Albany-Troy-Schenectady, N.Y.
6) Portsmouth-Rochester, N.H.
7) Olympia, Wash.
8) Bremerton, Wash.
9) Danbury, Conn.
10) Appleton-Oshkosh-Neenah, Wis.
11) Fayetteville-Springdale-Rogers, Ark.
12) Green Bay, Wis.
13) Portland, Maine
14) Harrisburg-Lebanon-Carlisle, Pa.
15) Honolulu, Hawaii
16) Evansville, Ind.-Henderson, Ky.
17) Manchester, N.H.
18) Nassau-Suffolk, N.Y.
19) Asheville, N.C.
20) Knoxville, Tenn.
21) Las Vegas, Nev.
22) San Luis Obispo-Atascadero-Paso Robles, Calif.
23) Newburgh, N.Y.
24) Utica-Rome, N.Y.
25) Reno, Nev.
where we live, but where are the most secure places in America? According to
Farmers Insurance Group's ranking of the Top 25 Most Secure U.S. Places to
Live, the most secure location in the U.S. is the Provo-Orem, Utah area.
The rankings, compiled by database experts at http://www.bestplaces.net ,
took into consideration crime statistics, risk of natural disasters and job
loss numbers in 213 U.S. metropolitan areas with populations of 200,000 or
more.
"Feeling safe and secure is a basic human instinct," said Jeff Beyer,
senior vice-president, corporate communications for Farmers Insurance Group.
"To some people, feeling safe against crime is most important. To some, it's
financial security. And to others, it may be not worrying about losing their
home. We'd all like to find a place to live or work that allows us to feel
that security."
Located about 45 miles south/southeast of Salt Lake City, Provo lies in
the heart of the Utah Valley between Utah Lake and the Wasatch Mountain Range.
Settled by Mormon pioneers in 1849, the region was originally inhabited by the
Ute Indians.
Today, it is home to Brigham Young University and Utah Valley State in
nearby Orem. The region has a population of 387,817 and, along with ninth-
ranked Danbury, Conn., shares the lowest crime rate of the 213 areas studied.
Dutchess County, N.Y., located midway between New York City and Albany in
the rolling hills and forests of the Hudson River Valley, ranks second among
Farmers Insurance's most secure areas. Crime is low and unemployment even
lower in this affluent community of 287,752 of mainly professional and
technical workers.
The third-ranked Most Secure Place is Madison, Wis., the state capital of
Wisconsin and home to the University of Wisconsin. A cultural center
surrounded by dairy farms and cropland, Madison (pop. 437, 110) is often cited
as one of the nation's healthiest cities and among the best places to retire.
Rounding out the top five are Lancaster, Pa., located in the heart of the
Pennsylvania Dutch Region about 65 miles west of Philadelphia, and the Albany-
Troy-Schenectady, N.Y. area, with many activities revolving around the
functions of state government and a very low risk of natural disasters.
Among the remaining Most Secure Places, Olympia, Wash (#7) and Honolulu,
Hawaii (#15) received the highest ranks for having few natural disasters,
while Fayetteville-Springdale-Rogers, Ark. (#11) and Portland, Me. (#13) have
the lowest unemployment rates among the cities studied.
Two seemingly notable "surprises" on the top 25 list are a pair of Nevada
cities: Las Vegas (#21) and Reno (#25). In trying to shake its image of "Sin
City," Las Vegas has done much in the last five years to remake itself into a
family destination. And while crime remains an issue, steady employment and a
low risk of natural disasters helped boost its ranking.
Likewise, Reno, despite its plethora of casinos and gaming attractions,
has sought to diversify by bringing in new industry and has become one of the
fastest-growing areas in the U.S.
Here is the entire list, in order, of Farmers Insurance's Top 25 Most
Secure Cities in the United States:
1) Provo-Orem, Utah
2) Dutchess County, N.Y.
3) Madison, Wis.
4) Lancaster, Pa.
5) Albany-Troy-Schenectady, N.Y.
6) Portsmouth-Rochester, N.H.
7) Olympia, Wash.
8) Bremerton, Wash.
9) Danbury, Conn.
10) Appleton-Oshkosh-Neenah, Wis.
11) Fayetteville-Springdale-Rogers, Ark.
12) Green Bay, Wis.
13) Portland, Maine
14) Harrisburg-Lebanon-Carlisle, Pa.
15) Honolulu, Hawaii
16) Evansville, Ind.-Henderson, Ky.
17) Manchester, N.H.
18) Nassau-Suffolk, N.Y.
19) Asheville, N.C.
20) Knoxville, Tenn.
21) Las Vegas, Nev.
22) San Luis Obispo-Atascadero-Paso Robles, Calif.
23) Newburgh, N.Y.
24) Utica-Rome, N.Y.
25) Reno, Nev.
Monday, June 14, 2004
Allstate has solid positioning
J.P. Morgan upgraded Allstate to "overweight" from "equal-weight" and raised earnings estimates, saying it believes the company will generate better returns in the near term than previously anticipated. J.P. Morgan said the personal lines insurer's competitive positioning is "solid" with prospects for improvement once it implements a strategic risk management (SRM) tool for high-risk drivers
Medical Mutual Health Insurance Fraud Protection
BALTIMORE, June 7 /PRNewswire/ -- ViPS, Inc., a major provider of business intelligence solutions for healthcare and life science companies, today announced a multi-year licensing agreement with Medical Mutual, the oldest and largest health insurance company based in Ohio, for the ViPS' anti-fraud software, STARSentinel(TM).
ADVERTISEMENT
STARSentinel is an early-warning detection system that surveys health plan data and evaluates claims in the light of provider claims' histories, specialty profiles and the most common, documented fraud schemes. By calling questionable patterns to management's attention, STARSentinel helps prioritize cases and helps the plan's Financial Investigations department use its resources with maximum productivity.
Medical Mutual serves more than 1.5 million people. Since 1983, the company has saved policyholders approximately $44 million through its aggressive pursuit of fraudulent claims. Medical Mutual investigates about 150 cases of possible fraud each year and often recovers $1 million or more per year in improper payments as a result of its vigilance. Brien Shanahan, Medical Mutual's director of Financial Investigations, said emphasis on anti- fraud activities is critically important since healthcare fraud is estimated to cost American consumers more than $100 billion annually.
"Targeting suspicious claims, and identifying possibly fraudulent billing patterns, are a key part of our effort to control costs and deliver high- quality care, affordable health insurance products," added Shanahan. "What is particularly valuable about STARSentinel is the way it also supports provider education and helps identify improper billings that may be the result of simple errors and misunderstandings."
"In the long run, controlling improper payments will improve both business results and the quality of care that is delivered," stated Jenny Morgan, president and chief executive officer at ViPS. "With a product like STARSentinel, Medical Mutual can continue its long track record of containing loss and improving performance."
ADVERTISEMENT
STARSentinel is an early-warning detection system that surveys health plan data and evaluates claims in the light of provider claims' histories, specialty profiles and the most common, documented fraud schemes. By calling questionable patterns to management's attention, STARSentinel helps prioritize cases and helps the plan's Financial Investigations department use its resources with maximum productivity.
Medical Mutual serves more than 1.5 million people. Since 1983, the company has saved policyholders approximately $44 million through its aggressive pursuit of fraudulent claims. Medical Mutual investigates about 150 cases of possible fraud each year and often recovers $1 million or more per year in improper payments as a result of its vigilance. Brien Shanahan, Medical Mutual's director of Financial Investigations, said emphasis on anti- fraud activities is critically important since healthcare fraud is estimated to cost American consumers more than $100 billion annually.
"Targeting suspicious claims, and identifying possibly fraudulent billing patterns, are a key part of our effort to control costs and deliver high- quality care, affordable health insurance products," added Shanahan. "What is particularly valuable about STARSentinel is the way it also supports provider education and helps identify improper billings that may be the result of simple errors and misunderstandings."
"In the long run, controlling improper payments will improve both business results and the quality of care that is delivered," stated Jenny Morgan, president and chief executive officer at ViPS. "With a product like STARSentinel, Medical Mutual can continue its long track record of containing loss and improving performance."
Many Ohio insurance companies cutting auto rates
CLEVELAND Ohioans paying record gas prices may be pleased when they open their car insurance bills.
After years of increases, some of Ohio's largest auto insurers are either cutting premiums or holding rates steady because the insurers say claims per policy are falling.
Ohio's largest insurer, State Farm Insurance Cos., cut premiums in March an average of 4.1 percent. Nationwide, the state's third-largest auto insurer, cut rates an average 1.7 percent in April, spokesman Kevin Craiglow said.
"We have the 16th-lowest insurance rates in the country," Ohio Insurance Director Ann Womer Benjamin said.
According to a 2003 National Association of Insurance Commissioners study, Ohioans pay an average $682.67 for full coverage auto insurance _ $134.76 less than the national average of $817.43.
After years of increases, some of Ohio's largest auto insurers are either cutting premiums or holding rates steady because the insurers say claims per policy are falling.
Ohio's largest insurer, State Farm Insurance Cos., cut premiums in March an average of 4.1 percent. Nationwide, the state's third-largest auto insurer, cut rates an average 1.7 percent in April, spokesman Kevin Craiglow said.
"We have the 16th-lowest insurance rates in the country," Ohio Insurance Director Ann Womer Benjamin said.
According to a 2003 National Association of Insurance Commissioners study, Ohioans pay an average $682.67 for full coverage auto insurance _ $134.76 less than the national average of $817.43.
Blue Cross and Blue Shield of Florida Receives Approval to Offer Health Plans That are Compatible With Health Savings Accounts
JACKSONVILLE, Fla., June 14 /PRNewswire-FirstCall/ -- >Blue Cross and Blue Shield of Florida (BCBSF) announced today that it has received approval from the Office of Insurance Regulation to offer high-deductible health plans that are compatible with Health Savings Accounts (HSAs) to individuals under 65. These plans are part of a growing platform of affordable choices that are supported by programs and tools for helping individuals manage their health care costs. HSA-compatible high-deductible health plans will be available beginning July 1 and will be offered in select areas of the state.
Humana offers cap on health insurance
Humana Inc. is dangling the prospect of a guaranteed rate cap to win new business from companies weary of fluctuating, rapidly rising health care costs.
This month the Louisville-based managed care company introduced SmartAssurance, a health plan that caps any rate increase at 9.9 percent in the second year. Analysts said skyrocketing costs had prevented managed care companies from offering multiyear contracts for years and that Humana's willingness to resurrect the practice could push others to follow.
This month the Louisville-based managed care company introduced SmartAssurance, a health plan that caps any rate increase at 9.9 percent in the second year. Analysts said skyrocketing costs had prevented managed care companies from offering multiyear contracts for years and that Humana's willingness to resurrect the practice could push others to follow.
Wednesday, June 9, 2004
USAA to cut rates by 7%
USAA Announces Average 7% Auto Rate Reduction
San Antonio-based auto insurer USAA announced that it has "already reduced, or has plans to reduce, automobile insurance rates by an average of 7 percent in almost all states."
"As a result, USAA auto policyholders will save more than $900 million in annual premiums over the next five years," said the announcement. The company sells policies in 44 of the 50 states, has approximately 3.6 million auto policyholders in the U.S., and is ranked as the country's seventh-largest auto insurer.
San Antonio-based auto insurer USAA announced that it has "already reduced, or has plans to reduce, automobile insurance rates by an average of 7 percent in almost all states."
"As a result, USAA auto policyholders will save more than $900 million in annual premiums over the next five years," said the announcement. The company sells policies in 44 of the 50 states, has approximately 3.6 million auto policyholders in the U.S., and is ranked as the country's seventh-largest auto insurer.
Sunday, June 6, 2004
welcome to insurance planet
Insurance planet was created to provide timely information about what is going on in the insurance industry,
1. including breaking news about insurance carriers
2. news related to insurance regulatory changes
3. observations about insurance websites we find useful
4. and other misc. insurance related information and commentary we find useful
enjoy
1. including breaking news about insurance carriers
2. news related to insurance regulatory changes
3. observations about insurance websites we find useful
4. and other misc. insurance related information and commentary we find useful
enjoy
Subscribe to:
Comments (Atom)
:.
