---Press Release from Unicare / Policy Store---
(PRWEB) September 18, 2004 -- Policy Store has teamed up with Unicare Health insurance to offer you the best health insurance products in the industry. Unicare health insurance and Policy Store's committment to service will gaurantee you a excellent Medical Insurance Experiance. PolicyStore.com wants to be your number one choice for insurance on the web, this is why we offer outstanding customer service.
We have many Senior Products, even dental insurance for seniors which I am told was not the norm. Many seniors are told that if they are over 65 that they no longer need dental insurance or no longer qualify for it! I feel that if they have teeth they have a need and if they want it, it would be an insult to those who have taken care of themselves for all those years to be told that you are too old for dental insurance.
Not only does the Policy Store have senior products but we also have a welcome edition to those who have "little people" that need coverage and are not able to cover themselves therefore don't realize that they can cover just their children! The Policy Store is striving to be the company that offers the Best possible coverage for the best possible rates with the best possible customer service.
Sunday, October 17, 2004
State Farm back in West Virginia
CHARLESTON -- Citing changes in West Virginia's insurance laws, State Farm Insurance announced Friday that it will again offer coverage to new automobile customers in the state.
However, the company said it will not accept new homeowner or commercial customers until the Legislature makes additional changes.
State Farm had stopped writing new insurance policies in West Virginia on Dec. 16, 2002. The company said it lost nearly $290 million on auto insurance policies in West Virginia between 1993 and 2001.
State Farm attributed its decision to changes in the auto insurance market and several revisions to state law that the Legislature approved this year. Those revisions include the establishment of an insurance fraud unit within the office of the insurance commissioner, and a provision that allows insurers to elect to refuse to renew up to 1 percent of their auto policies statewide each year, though no more than 1 percent of their policyholders in any one county.
State Farm said the revisions will give insurers more flexibility to reject policy renewals for ''bad risk drivers'' and will reduce fraud.
''Senate President Earl Ray Tomblin and House Speaker Bob Kiss are to be commended for their leadership in passing these laws, which will bring more stability to the West Virginia insurance market, particularly in auto insurance. This increased stability allows us to begin accepting new West Virginia auto insurance customers,'' said Arlene Hogan, operations vice president for the company's Mid-Atlantic Zone.
However, the company said new homeowner and commercial customers will not be accepted until the Legislature eliminates ''third party bad faith'' lawsuits and makes other revisions. ''Third party bad faith'' lawsuits allege an insurance company failed to handle a claim reasonably. They are filed by non-policyholders involved in claims with policyholders.
The state Chamber of Commerce also has called for a ban on such lawsuits.
State Farm also wants the Legislature to give insurers more flexibility in rejecting renewals of homeowner policies.
A report issued to lawmakers in July by Insurance Commissioner Jane Cline, blamed high homeowner rates on natural disasters such as wind and hail storms. Excluding those catastrophes, the report concluded that the severity of claims filed in West Virginia ''are very comparable to countrywide.''
However, the company said it will not accept new homeowner or commercial customers until the Legislature makes additional changes.
State Farm had stopped writing new insurance policies in West Virginia on Dec. 16, 2002. The company said it lost nearly $290 million on auto insurance policies in West Virginia between 1993 and 2001.
State Farm attributed its decision to changes in the auto insurance market and several revisions to state law that the Legislature approved this year. Those revisions include the establishment of an insurance fraud unit within the office of the insurance commissioner, and a provision that allows insurers to elect to refuse to renew up to 1 percent of their auto policies statewide each year, though no more than 1 percent of their policyholders in any one county.
State Farm said the revisions will give insurers more flexibility to reject policy renewals for ''bad risk drivers'' and will reduce fraud.
''Senate President Earl Ray Tomblin and House Speaker Bob Kiss are to be commended for their leadership in passing these laws, which will bring more stability to the West Virginia insurance market, particularly in auto insurance. This increased stability allows us to begin accepting new West Virginia auto insurance customers,'' said Arlene Hogan, operations vice president for the company's Mid-Atlantic Zone.
However, the company said new homeowner and commercial customers will not be accepted until the Legislature eliminates ''third party bad faith'' lawsuits and makes other revisions. ''Third party bad faith'' lawsuits allege an insurance company failed to handle a claim reasonably. They are filed by non-policyholders involved in claims with policyholders.
The state Chamber of Commerce also has called for a ban on such lawsuits.
State Farm also wants the Legislature to give insurers more flexibility in rejecting renewals of homeowner policies.
A report issued to lawmakers in July by Insurance Commissioner Jane Cline, blamed high homeowner rates on natural disasters such as wind and hail storms. Excluding those catastrophes, the report concluded that the severity of claims filed in West Virginia ''are very comparable to countrywide.''
Frivilous Insurance Lawsuits...mostly hoaxes
By PETER CARLSON
The Washington Post
Are you mad as hell about the plague of frivolous lawsuits that’s ruining this great country? So was I until I read “False Alarm,” by Stephanie Mencimer in October’s Washington Monthly.
It’s an eye-opening expose of how the insurance industry, aided by gullible reporters, has hyped a “lawsuit crisis” by disseminating dubious stories of idiotic lawsuits.
Remember the story of the guy who won a $500,000 lawsuit against a lawn mower manufacturer after he hurt himself while using the mower as a hedge clipper?
It never happened.
How about the guy who won a $300,000 jury verdict against a ladder manufacturer after he fell off a ladder he’d set in a pile of manure? There was no manure.
And the story of the woman who threw a drink at her boyfriend in a restaurant, then won $100,000 suing the restaurant because she slipped in the puddle and hurt herself? More baloney.
All those stories were widely reported and, Mencimer says, all were either totally fictitious or wildly distorted.
These horror stories are hyped by insurance industry groups and their allies to convince Americans that we’re in a “lawsuit crisis.”
Actually, Mencimer writes, the rate of lawsuits has been falling since 1975, and the median jury award to plaintiffs who manage to win has dropped from $65,000 in 1992 to $37,000 in 2001.
The Washington Post
Are you mad as hell about the plague of frivolous lawsuits that’s ruining this great country? So was I until I read “False Alarm,” by Stephanie Mencimer in October’s Washington Monthly.
It’s an eye-opening expose of how the insurance industry, aided by gullible reporters, has hyped a “lawsuit crisis” by disseminating dubious stories of idiotic lawsuits.
Remember the story of the guy who won a $500,000 lawsuit against a lawn mower manufacturer after he hurt himself while using the mower as a hedge clipper?
It never happened.
How about the guy who won a $300,000 jury verdict against a ladder manufacturer after he fell off a ladder he’d set in a pile of manure? There was no manure.
And the story of the woman who threw a drink at her boyfriend in a restaurant, then won $100,000 suing the restaurant because she slipped in the puddle and hurt herself? More baloney.
All those stories were widely reported and, Mencimer says, all were either totally fictitious or wildly distorted.
These horror stories are hyped by insurance industry groups and their allies to convince Americans that we’re in a “lawsuit crisis.”
Actually, Mencimer writes, the rate of lawsuits has been falling since 1975, and the median jury award to plaintiffs who manage to win has dropped from $65,000 in 1992 to $37,000 in 2001.
Friday, October 15, 2004
Safeco revises its storm costs upwards by $44m
LOSSES from hurricanes Charley and Frances were larger and more severe than first anticipated, says insurer Safeco.
Safeco revised its loss estimate for the two storms to $117m, a $44m increase compared with its previously reported estimate of $73m. The insurer said its aggregate pre-tax catastrophe losses for the third quarter are estimated at $195m, with $183m of this attributable to the hurricanes. The losses will reduce third-quarter net income by $127m after tax. "This hurricane season has taken a tremendous toll in Florida," said Mike McGavick, Safeco chairman and chief executive. "While we were taken aback by the number of large losses from Charley, we now have inspected every severe and potentially large loss from the hurricanes and 67% of all claims.
"Four hurricanes hitting one state in a span of just six weeks is an extraordinary event. One factor that is clearly an estimate at this time is the loss cost trends we will see with these storms," he added. "We're monitoring state and regional markets very carefully. If we see repair and restoration cost trends that are different from our current estimates, it may require further revision to our loss estimates for these storms."
The impact on Bermudian insurers and reinsurers became clearer yesterday when Ace and Aspen revealed loss estimates for this year's hurricanes.
Ace said its catastrophe-related charges during the third quarter will be $480m pre-tax, including expected losses from the hurricanes as well as typhoons Songda, Chaba and Meari.
Aspen Insurance said its hurricane losses will be $135m, net of reinsurance and tax, with an additional $13m impact from typhoon Songda.
Chris O'Kane, Aspen chief executive, said: "Due to the rapid succession and overlapping footprint of the Florida storms, loss adjustment levels are complicating the claims process and delaying the reporting of claims at the reinsurance level. We believe losses of this magnitude are likely to have a significant impact on trading conditions, leading to increases in price and improvements in terms and conditions for wind-exposed property business in the US."
Safeco revised its loss estimate for the two storms to $117m, a $44m increase compared with its previously reported estimate of $73m. The insurer said its aggregate pre-tax catastrophe losses for the third quarter are estimated at $195m, with $183m of this attributable to the hurricanes. The losses will reduce third-quarter net income by $127m after tax. "This hurricane season has taken a tremendous toll in Florida," said Mike McGavick, Safeco chairman and chief executive. "While we were taken aback by the number of large losses from Charley, we now have inspected every severe and potentially large loss from the hurricanes and 67% of all claims.
"Four hurricanes hitting one state in a span of just six weeks is an extraordinary event. One factor that is clearly an estimate at this time is the loss cost trends we will see with these storms," he added. "We're monitoring state and regional markets very carefully. If we see repair and restoration cost trends that are different from our current estimates, it may require further revision to our loss estimates for these storms."
The impact on Bermudian insurers and reinsurers became clearer yesterday when Ace and Aspen revealed loss estimates for this year's hurricanes.
Ace said its catastrophe-related charges during the third quarter will be $480m pre-tax, including expected losses from the hurricanes as well as typhoons Songda, Chaba and Meari.
Aspen Insurance said its hurricane losses will be $135m, net of reinsurance and tax, with an additional $13m impact from typhoon Songda.
Chris O'Kane, Aspen chief executive, said: "Due to the rapid succession and overlapping footprint of the Florida storms, loss adjustment levels are complicating the claims process and delaying the reporting of claims at the reinsurance level. We believe losses of this magnitude are likely to have a significant impact on trading conditions, leading to increases in price and improvements in terms and conditions for wind-exposed property business in the US."
Coventry will buy First Health for $1.8 billion
First Health Group, which manages health-care benefits for employers and unions and which has struggled lately, will be acquired by Coventry Health Care in a $1.8 billion cash and stock deal, the companies said Thursday.
Maryland-based Coventry, a managed health-care company with operations in 15 U.S. markets and 3.1 million members, is purchasing firms to compete with larger insurers such as UnitedHealth Group because employers aren't adding jobs fast enough to increase membership in Coventry's health plans. Adding Downers Grove-based First Health will extend Coventry's coverage to all 50 U.S. states.
Like its bigger rivals, Coventry has grown through acquisitions since beginning operations in 1987. The company listed 11 acquisitions from 2000 and 2003 in a March filing with the U.S. Securities and Exchange Commission.
Coventry will issue 0.1791 shares of Coventry common stock and pay $9.375 in cash for each First Health share under the terms of the agreement.
The agreement values First Health at about $17.67 a share, based on Thursday's closing price for Coventry. That's a 17 percent premium to First Health's closing price Wednesday.
Shares of First Health rose $2 Thursday, or 13 percent, to $17.04 They had dropped 23 percent this year, before Thursday's gain. The transaction is based on about 94.5 million First Health shares outstanding, spokeswoman Erin Gardiner said.
Shares of Coventry fell $5.76, or 11 percent, to $46.29 Thursday.
"This merger will provide great opportunities for all of our constituents including colleagues, clients and providers, and enhance efforts to secure and service a growing client base," said First Health President and Chief Executive Edward L. Wristen.
First Health was founded in 1982 as a business that evaluated the efficiency, quality and necessity of health-care services. Through strategic mergers and acquisitions it evolved into a full-service group health- and workers-compensation benefits company.
But it has faced recent challenges. The company, which employs 6,000 people, including 750 in the Chicago area, cut 200 jobs in the first quarter as profit came in below expectations. Thursday it reduced its 2004 earnings per share forecast to $1.25 to $1.28 per share, down from $1.30 to $1.40 projected in April. It blamed slower ramp up of new business in the third quarter.
Through the first six months of this year, revenues fell to $58.9 million from $74 million a year earlier.
"The combination of Coventry Health Care and First Health Group creates a truly national health-benefits platform with the tools to serve our local, national and governmental clients," said Coventry President and Chief Executive Allen Wise.
Bear Stearns & Co. is ''uncertain as to the strategic rationale for the acquisition given our concern with regard to the long-term viability of First Health's group health business,'' said Bear Stearns analyst John Rex in a report. He has an ''overweight'' rating on the shares and doesn't own them.
Coventry said the purchase will add 30 cents to 36 cents a share to earnings next year, previously forecast at $4.13 to $4.17. The company expects to save $20 million to $30 million next year and $40 million to $50 million by the end of 2006.
It also reported that third-quarter net income rose 29 percent to $87 million, or 96 cents a share, from $67.5 million, or 74 cents, in the year-earlier period.
''They know what they are doing,'' said Thomas Mangan, a vice president with James Investment Research, which he said holds about 140,000 Coventry shares. The First Health purchase ''is more of the same and the same has been pretty good.''
Coventry didn't disclose whether the acquisition deal will lead to job cuts. The purchase, which is subject to regulatory approval, is expected to close in the first quarter of 2005.
Maryland-based Coventry, a managed health-care company with operations in 15 U.S. markets and 3.1 million members, is purchasing firms to compete with larger insurers such as UnitedHealth Group because employers aren't adding jobs fast enough to increase membership in Coventry's health plans. Adding Downers Grove-based First Health will extend Coventry's coverage to all 50 U.S. states.
Like its bigger rivals, Coventry has grown through acquisitions since beginning operations in 1987. The company listed 11 acquisitions from 2000 and 2003 in a March filing with the U.S. Securities and Exchange Commission.
Coventry will issue 0.1791 shares of Coventry common stock and pay $9.375 in cash for each First Health share under the terms of the agreement.
The agreement values First Health at about $17.67 a share, based on Thursday's closing price for Coventry. That's a 17 percent premium to First Health's closing price Wednesday.
Shares of First Health rose $2 Thursday, or 13 percent, to $17.04 They had dropped 23 percent this year, before Thursday's gain. The transaction is based on about 94.5 million First Health shares outstanding, spokeswoman Erin Gardiner said.
Shares of Coventry fell $5.76, or 11 percent, to $46.29 Thursday.
"This merger will provide great opportunities for all of our constituents including colleagues, clients and providers, and enhance efforts to secure and service a growing client base," said First Health President and Chief Executive Edward L. Wristen.
First Health was founded in 1982 as a business that evaluated the efficiency, quality and necessity of health-care services. Through strategic mergers and acquisitions it evolved into a full-service group health- and workers-compensation benefits company.
But it has faced recent challenges. The company, which employs 6,000 people, including 750 in the Chicago area, cut 200 jobs in the first quarter as profit came in below expectations. Thursday it reduced its 2004 earnings per share forecast to $1.25 to $1.28 per share, down from $1.30 to $1.40 projected in April. It blamed slower ramp up of new business in the third quarter.
Through the first six months of this year, revenues fell to $58.9 million from $74 million a year earlier.
"The combination of Coventry Health Care and First Health Group creates a truly national health-benefits platform with the tools to serve our local, national and governmental clients," said Coventry President and Chief Executive Allen Wise.
Bear Stearns & Co. is ''uncertain as to the strategic rationale for the acquisition given our concern with regard to the long-term viability of First Health's group health business,'' said Bear Stearns analyst John Rex in a report. He has an ''overweight'' rating on the shares and doesn't own them.
Coventry said the purchase will add 30 cents to 36 cents a share to earnings next year, previously forecast at $4.13 to $4.17. The company expects to save $20 million to $30 million next year and $40 million to $50 million by the end of 2006.
It also reported that third-quarter net income rose 29 percent to $87 million, or 96 cents a share, from $67.5 million, or 74 cents, in the year-earlier period.
''They know what they are doing,'' said Thomas Mangan, a vice president with James Investment Research, which he said holds about 140,000 Coventry shares. The First Health purchase ''is more of the same and the same has been pretty good.''
Coventry didn't disclose whether the acquisition deal will lead to job cuts. The purchase, which is subject to regulatory approval, is expected to close in the first quarter of 2005.
Thursday, October 14, 2004
Insurance broker accused of rigging bids
Eliot Spitzer, the New York state attorney general, yesterday accused the world's largest insurance broker of cheating customers by rigging prices and steering business to insurers in exchange for millions of dollars in kickbacks
The lawsuit brought by Mr. Spitzer against the broker, Marsh Inc., a unit of the Marsh & McLennan Companies, contends that Marsh conducted sham bidding to mislead customers into thinking that they were getting the best price for the coverage they needed. The lawsuit cites several examples of customers - including Fortune Brands, which sells Titleist golf balls and Jim Beam spirits, and the school district of Greenville, S.C. - who were misled that way.
In addition to the lawsuit, two executives of the American International Group, one of the world's largest insurance companies, pleaded guilty to criminal charges of rigging bids with Marsh.
While Mr. Spitzer's target yesterday was Marsh, he made clear that he was taking aim at a widespread practice in the insurance industry. "This investigation is broad and deep and it is disappointing,'' he said.
Mr. Spitzer suggested that he had also come across indications of wrongdoing in the sale of many kinds of personal insurance, including coverage on cars, homes and health insurance. "Virtually every line of insurance is implicated,'' he said.
The lawsuit names American International, or A.I.G., and three other insurers, as participants in the bid rigging and steering: the Hartford, a unit of Hartford Financial Services; Ace Ltd., which is based in Bermuda but is a major player in the American insurance market; and Munich American Risk Partners, a unit of Munich Re with offices in Princeton, N.J.
"There will be numerous criminal and civil cases,'' Mr. Spitzer promised.
Insurance is now the new financial battleground for Mr. Spitzer after recent crackdowns against conflicts of interest involving Wall Street analysts and abuses in trading mutual funds. The latest investigation has opened a rare window into a huge business of corporate middlemen. The role of insurance brokers is to get the proper insurance coverage at the best possible price for clients ranging from the giants of corporate America to regional businesses and mom-and-pop operations across the country. They receive commissions from the clients for arranging the coverage.
But decades ago, the brokers also began collecting fees from the other side of the deal, the insurers. Those fees were for steering a certain volume of business to an insurer or for arranging a particularly profitable form of coverage. Marsh reaped $800 million from these fees in 2003, the lawsuit says.
The investigation also threatens to embroil the insurance industry's remarkable family dynasty. Jeffrey Greenberg, 53, is chief executive of Marsh, while his brother Evan, 49, is chief executive of Ace.
Over several decades, the patriarch of the family, Maurice R. Greenberg, has converted A.I.G. from a small internationally oriented insurance company to one of the wealthiest and most powerful in the world. He had dreamed that he would eventually be succeeded by one of his sons.
But both Jeffrey and Evan left A.I.G. to strike out on their own after Mr. Greenberg, who is now 79 years old, showed no sign of intending to retire.
In a news conference yesterday, Mr. Spitzer was sharply critical of Jeffrey Greenberg, saying that he and other top executives of Marsh had initially misled his investigators. Mr. Spitzer said he did not try to negotiate a settlement with Marsh before filing the lawsuit.
"The leadership of that company is not a leadership I will talk with,'' an obviously angry Mr. Spitzer said. "It is not a leadership I will negotiate with.''
Through a spokeswoman, Jeffrey. Greenberg declined a request for an interview. In a statement, the parent company, Marsh & McLennan Companies, said: "We take very seriously the allegations made by Attorney General Spitzer.''
Shares of Marsh and A.I.G. and other insurers tumbled yesterday, dragging down the stock market. Marsh's stock price plunged 24 percent, or $11.28, to $34.85. Shares of A.I.G. fell 10 percent, or $6.99, to $60. The sell-off in A.I.G. accounted for nearly half the decline yesterday in the Dow Jones industrial average and was the steepest drop in the stock since the 1987 market crash. Hartford shares fell 6 percent, to $58.40, and Ace shares fell 9.5 percent, to $36.47.
The lawsuit brought by Mr. Spitzer against the broker, Marsh Inc., a unit of the Marsh & McLennan Companies, contends that Marsh conducted sham bidding to mislead customers into thinking that they were getting the best price for the coverage they needed. The lawsuit cites several examples of customers - including Fortune Brands, which sells Titleist golf balls and Jim Beam spirits, and the school district of Greenville, S.C. - who were misled that way.
In addition to the lawsuit, two executives of the American International Group, one of the world's largest insurance companies, pleaded guilty to criminal charges of rigging bids with Marsh.
While Mr. Spitzer's target yesterday was Marsh, he made clear that he was taking aim at a widespread practice in the insurance industry. "This investigation is broad and deep and it is disappointing,'' he said.
Mr. Spitzer suggested that he had also come across indications of wrongdoing in the sale of many kinds of personal insurance, including coverage on cars, homes and health insurance. "Virtually every line of insurance is implicated,'' he said.
The lawsuit names American International, or A.I.G., and three other insurers, as participants in the bid rigging and steering: the Hartford, a unit of Hartford Financial Services; Ace Ltd., which is based in Bermuda but is a major player in the American insurance market; and Munich American Risk Partners, a unit of Munich Re with offices in Princeton, N.J.
"There will be numerous criminal and civil cases,'' Mr. Spitzer promised.
Insurance is now the new financial battleground for Mr. Spitzer after recent crackdowns against conflicts of interest involving Wall Street analysts and abuses in trading mutual funds. The latest investigation has opened a rare window into a huge business of corporate middlemen. The role of insurance brokers is to get the proper insurance coverage at the best possible price for clients ranging from the giants of corporate America to regional businesses and mom-and-pop operations across the country. They receive commissions from the clients for arranging the coverage.
But decades ago, the brokers also began collecting fees from the other side of the deal, the insurers. Those fees were for steering a certain volume of business to an insurer or for arranging a particularly profitable form of coverage. Marsh reaped $800 million from these fees in 2003, the lawsuit says.
The investigation also threatens to embroil the insurance industry's remarkable family dynasty. Jeffrey Greenberg, 53, is chief executive of Marsh, while his brother Evan, 49, is chief executive of Ace.
Over several decades, the patriarch of the family, Maurice R. Greenberg, has converted A.I.G. from a small internationally oriented insurance company to one of the wealthiest and most powerful in the world. He had dreamed that he would eventually be succeeded by one of his sons.
But both Jeffrey and Evan left A.I.G. to strike out on their own after Mr. Greenberg, who is now 79 years old, showed no sign of intending to retire.
In a news conference yesterday, Mr. Spitzer was sharply critical of Jeffrey Greenberg, saying that he and other top executives of Marsh had initially misled his investigators. Mr. Spitzer said he did not try to negotiate a settlement with Marsh before filing the lawsuit.
"The leadership of that company is not a leadership I will talk with,'' an obviously angry Mr. Spitzer said. "It is not a leadership I will negotiate with.''
Through a spokeswoman, Jeffrey. Greenberg declined a request for an interview. In a statement, the parent company, Marsh & McLennan Companies, said: "We take very seriously the allegations made by Attorney General Spitzer.''
Shares of Marsh and A.I.G. and other insurers tumbled yesterday, dragging down the stock market. Marsh's stock price plunged 24 percent, or $11.28, to $34.85. Shares of A.I.G. fell 10 percent, or $6.99, to $60. The sell-off in A.I.G. accounted for nearly half the decline yesterday in the Dow Jones industrial average and was the steepest drop in the stock since the 1987 market crash. Hartford shares fell 6 percent, to $58.40, and Ace shares fell 9.5 percent, to $36.47.
Tuesday, October 12, 2004
Individual Health Insurance premiums hold steady
MOUNTAIN VIEW, Calif., Oct. 12 /PRNewswire/ -- Health insurance premiums for individuals across the country are holding steady at $150 per month, reported eHealthInsurance in its semi-annual Cost and Benefits of Individual Health Insurance Plans Report, released today. The report also shows that individuals who purchase their health insurance through the individual market choose plans with a deductible under $1000 nearly 40 percent of the time.
Families who purchased health insurance through the individual market were able to effectively manage their health insurance costs, paying an average monthly premium of $307 per month. Employer-based health insurance costs were up in 2004 by 11.2 percent(1), but according to eHealthInsurance premium costs in the individual market were up only 7 percent ($19 on average) for families from the last period.
"Consumers are now taking more control of their healthcare choices to manage costs," said Gary Lauer, CEO of eHealthInsurance, the nation's leading source of health insurance for individuals and families. "In the individual market, the majority of individuals and families are able to purchase quality health insurance at surprisingly affordable costs, while getting plans with comprehensive benefits, including prescription drugs."
The Cost and Benefits Report presents an analysis of data from a sample of about 82,000 health insurance policies purchased nationally through www.ehealthinsurance.com from April through September 2004. The last report in the series was released in March of this year.
Families who purchased health insurance through the individual market were able to effectively manage their health insurance costs, paying an average monthly premium of $307 per month. Employer-based health insurance costs were up in 2004 by 11.2 percent(1), but according to eHealthInsurance premium costs in the individual market were up only 7 percent ($19 on average) for families from the last period.
"Consumers are now taking more control of their healthcare choices to manage costs," said Gary Lauer, CEO of eHealthInsurance, the nation's leading source of health insurance for individuals and families. "In the individual market, the majority of individuals and families are able to purchase quality health insurance at surprisingly affordable costs, while getting plans with comprehensive benefits, including prescription drugs."
The Cost and Benefits Report presents an analysis of data from a sample of about 82,000 health insurance policies purchased nationally through www.ehealthinsurance.com from April through September 2004. The last report in the series was released in March of this year.
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