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.
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