COBRA Health Insurance News

The Wall Street Journal reports that a growing number of the unemployed are exhausting their extended Cobra health-insurance subsidies, eligibility for which expired at the end of May. There's a slim chance that Congress could extend the 65%, 15-month subsidy again this fall, but most experts think it's unlikely due to mounting concerns about federal spending.  As a result, more unemployed, and workers facing reduced hours and wages, are contacting online providers of health-insurance information about less-costly alternatives.

Group health-insurance premiums under Cobra average $1,100 per month for family coverage without the subsidy, but $385 with it, says the U.S. Agency for Health Care Research and Quality. The average enrollment rate in Cobra rose to 37% between March 2009 and May 2010, the period when people were eligible for the subsidy. (Workers who lost their jobs starting June 1, 2010, aren't eligible to receive the subsidy, though they still can enroll in Cobra.) In May, Cobra enrollment stood at 33%, says Hewitt Associates, a human-resources consultant.

Are you without coverage?

Expanded insurance options under the new health-care overhaul law won't be widely available until 2014. Meanwhile, online providers of information about health-insurance coverage like QuoteBroker Insurance Services,  provide free instant online health insurance quotes for individuals, families and small businesses.kers can continue to participate in their employers' plans up to the usual 18 months, or longer in some circumstances, once the subsidy ends. But many say they can't afford the full premiums.

California Health Insurance Exchange in the News

California moves forward toward establishing a health insurance exchange to be in compliance with the new federal health reform law.

The California state Senate has passed two bills that provide the mechanisms of the exchange. One bill, which is awaiting the Governor Schwarzenegger's signature, sets up an Internet-based exchange where consumers could compare health insurance plans.

The second bill, which now heads back to the Assembly for approval, outlines the role of the exchange. This bill also creates a California Health Trust Fund to finance the exchange. Both bills passed along party lines, with Republicans opposing.

The Patient Protection and Affordable Care Act requires state exchanges—where individuals and small businesses can purchase coverage—must be up and running by January 1, 2014.

Governor Arnold Schwarzenegger has not said whether he would sign the bills, but in April he  support ed health reform, stating that he would “work with the federal government to get this done.” 

 

To shop for affordable California Health Insurance visit QuoteBroker, an online shopping service that allows you to compare all major company's plans and services in minutes. It's free and simple to use.

Anthem Blue Cross and Blue Shield rates going up

August 23, 2010. State regulators have accepted rate hikes on individual Anthem Blue Cross health insurance policies after public outrage and government scrutiny halted a larger increase proposed earlier this year.

The California Department of Insurance said Wednesday it approved a rate increase averaging about 14 percent for Anthem Blue Cross customers. The department also approved a nearly 19 percent increase for Blue Shield of California.

To shop for affordable health insurance visit QuoteBroker.com for free instant quotes from all major California insurance companies.

Insurance Companies close the door to new Children Only plans

Every mother and father want to provide valuable health care for their children, especially if they have a serious pre-existing medical condition.

Health Care Reform was designed to insure that this option would be available, offering no pre-existing exclusion period for people under age 19 — Anyone under 19 with a pre-existing condition cannot be denied coverage for that condition at any time starting with the first plan year beginning on or after Sept. 23, 2010, four years before all carriers must accept everyone, regardless of health status. In addition, insurers are not allowed to impose waiting periods for coverage of pre-existing conditions for people under 19 years old.

Sounds great, however several insurance companies, including Aetna and Cigna have announced that they will not be offering "child(ren)" only policies after September of this year. This must certainly be a shock to the politicians who wrote this bills and raced it through the house and senate. Watch more companies to follow these giants lead and exit the child marketplace, meanwhile every families health insurance premiums will likely increase to spread the risk of this specific market.

To locate the most affordable health insurance plan options online, visit QuoteBroker.com for a free market comparison and analysis.