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MA Out-of-Pocket Costs Rise to Keep Premiums Low

October 6th, 2015

Due to federal funding pressure, insurers have struggled to keep premiums low. But as the 2016 Medicare Advantage plan spreadsheet data reveals, they’re increasing out-of-pocket costs to keep monthly premiums down. For years, the Centers for Medicare & Medicaid Services (CMS) has been squeezing financial support for Medicare Advantage plan issuers in order to close [...]

Oscar Health Opens for Business in Texas and California

Oscar Health Insurance
October 5th, 2015

Oscar, the New-York based health insurance startup, announced its entrance into select Texas and California markets. Plans will be available for open enrollment next month, both on and off exchange, but premiums have yet to be released. Launched in 2014, Oscar moved into the New Jersey market this year. For 2016, the insurer is expanding [...]

1 in 5 Insured Adults Skrimping on Dental Care, Survey Shows

dental claims
October 2nd, 2015

Thanks to the ACA, millions of Americans can now afford health care. But dental work is a different story. Dental care ranked number one among health services that people with insurance avoid due to cost, a new survey shows. In fact, 1 in 5 adults said they have unmet dental needs because they can’t afford [...]

California Launches Health Care Comparison Tool

October 1st, 2015

California residents now have access to a new health care comparison tool. California Healthcare Compare, a $3.9 million federally-funded platform, lets consumers compare the price of common medical procedures, estimate how much health insurance covers, and calculate out-of-pocket expenses. The California Department of Insurance established the site in response to the rise of high-deductible plans, [...]

Enrollment in UBI Programs Plateaued, LexisNexis Study Finds

September 30th, 2015

According to the LexisNexis Risk Solutions’ “Usage-Based Insurance Study, awareness and enrollment in usage based insurance (UBI) programs has plateaued. In 2015, roughly 39% of consumers were aware of UBI programs, up 1% from last year and up 3% from 2013. But only 5% of drivers are enrolled in these programs—the same percentage as 2014. [...]

New York’s Number Two Obamacare Insurer to Shutdown

September 29th, 2015

Under orders from New York and federal regulators, Health Republic Insurance of New York will stop selling policies and ultimately cease operations. The Affordable Care Act insurer will begin winding down because regulators determined that it’s likely to become insolvent, according to an emailed statement from the New York’s Department of Financial Services. The decision [...]

HMO Plans Dominate Medicare Advantage Market

September 28th, 2015

The push to make Medicare Advantage plans more like commercial health insurance coverage may be a losing proposition. Local and regional PPO plans will account for just 26% of the 2,174 Medicare Advantage plan options in 2016, down from 27% this year, according to analysts at Mark and Farrah Associates. Meanwhile, the HMO market will [...]

Farmers Insurance Opens Territory Office in Connecticut

As an insurance agent, it's important that you go to every length possible to ensure your clients' trust.
September 25th, 2015

Farmers Insurance, which began offering insurance products and financial services to Connecticut residents on January 1, 2015, announced the opening of its first territory office in the state. Located in Danbury, Connecticut, the new office opened with a ribbon-cutting ceremony on September 16. The Los Angeles-based insurer says it will house about 25 full-time employees [...]

How to Improve Conversion Rates with Lead Scoring

September 24th, 2015

You already know that not all insurance leads are created equal. But how do you decide which ones are worth nurturing and which ones aren’t? Lead scoring. Lead scoring is a method of ranking your prospects using a point system to determine their value, and to better understand the lead’s position in the sales funnel. [...]

CoverHound Raises $33.3M, Funds New Hires & Market Growth

September 23rd, 2015

The online insurance comparison platform CoverHound announced yesterday that it raised $33.3 million in a Series C financing round. Led by ACE Group, one of the world’s largest multiline property and casualty insurers, the investment comes only months after the company’s Series B round, bringing the total funding to over $53 million. CoverHound says it [...]