Illinois Insurance News

2012 Healthcare Reform Changes

admin — Thu, 23 Feb 2012 02:21:28 +0000

A summary of health reform initiatives which become effective in 2012.

Study Finds Ending Individual Mandate Would Not Dramatically Hike Insurance Prices

admin — Thu, 23 Feb 2012 01:59:42 +0000

A new RAND Corporation study concludes that eliminating a key part of health care reform that requires all Americans to have health insurance would sharply lower the number of people gaining coverage, but would not dramatically increase the cost of buying policies through new insurance exchanges. The study comes as the U.S. Supreme Court prepares [...]

2012 Options Small Businesses should Consider as Health Insurance Reform Kicks In

admin — Wed, 25 Jan 2012 01:27:31 +0000

The Affordable Care Act, passed in 2010 and is being rolled out in stages. Many reforms, most notably the individual health insurance exchanges, won’t go into effect until 2014, but some small-business owners are experiencing sticker shock already and blame the new law for the rising health insurance rates they’ve seen over the past 2 [...]

Obama Lawyers Defend Healthcare Law In Supreme Court

admin — Wed, 11 Jan 2012 06:33:14 +0000

The Obama administration defended its healthcare overhaul law before the U.S. Supreme Court on Friday, rejecting arguments by critics who warned that if the government can require people to have health insurance, it might next make them eat broccoli. Administration attorneys, in court filings and at a briefing, said Congress was within its constitutional powers [...]

Big Changes In Healthcare Could Return In 2013

admin — Tue, 29 Nov 2011 22:10:37 +0000

(Reuters) – The breakdown of deficit talks in Congress will exact little pain on the U.S. healthcare industry, but it’s a temporary reprieve from steeper cuts that could be put back on the table in 2013. The failure of the congressional “super committee” to reach a deal triggers a 2 percent across-the-board cut to Medicare, [...]

BCBSIL Introduces Renewal Rate Cap for New 51-100 Segment Groups

admin — Thu, 03 Nov 2011 06:57:23 +0000

Blue Cross and Blue Shield of Illinois (BCBSIL) announced a first year renewal rate cap of 9%* for groups with 51-100 employees. New groups with 51-100 insured employees sold with Jan. 1, 2012 – July 1, 2012 effective dates can take advantage of this offer if they meet the eligibility requirements below, which include completing [...]

2012 Medicare Premium Increase Smaller Than Feared

admin — Fri, 28 Oct 2011 22:30:26 +0000

2012 Highlights: Standard Part B premium $99.90 a month for all in 2012 Means increase of $3.50 a month for most beneficiaries Most elderly Americans covered by the U.S. government’s Medicare insurance program will see a smaller-than-expected rise in their monthly premiums next year, health officials said on Thursday. Standard premiums for Medicare Part B, [...]

BlueCross BlueShield profits drop 23% in 2nd Quarter

admin — Mon, 19 Sep 2011 18:49:05 +0000

(Crain’s) — After surging earlier in the year, profits of the parent of Blue Cross & Blue Shield of Illinois dropped sharply during the second quarter, to a still hefty $270 million, as benefits rose and membership shrank. Chicago-based Health Care Service Corp’s net income fell nearly 23% during the second quarter compared with almost [...]

Federal COBRA Premium Subsidy Expired August 31, 2011

admin — Wed, 07 Sep 2011 16:51:23 +0000

On August 31, 2011, the COBRA continuation premium subsidy ended. Former employees who want to maintain their COBRA coverage during any remaining COBRA continuation coverage period will now be responsible for the full 100 percent of their premium payments. The American Recovery and Reinvestment Act of 2009 signed into law on February 17, 2009 provided [...]

Stand-alone HRAs exempted from annual minimum dollar limits

admin — Thu, 25 Aug 2011 22:43:20 +0000

The Department of Health and Human Services has issued new guidance stating that plan sponsors of all stand-alone Health Reimbursement Arrangements (HRAs) with rollover of unused funds in effect prior to September 23, 2010 will no longer be required to seek waivers from federal rules that restrict annual dollar limits on coverage of essential benefits. [...]