November 30th, 2009
Olympus Managed Health Care Inc., a leading provider of health care claims administration and cost containment services, announced today that Steve Stoute, a veteran insurance industry executive, has been appointed to the company’s Board of Advisors. The Board establishes and manages the strategic direction of the company.
Stoute brings nearly 50 years of insurance industry experience to Olympus Managed Health Care. He is presently the Chairman of SRS Consulting, Inc., which specializes in providing technical support and advice to the life and health insurance industry. Prior to forming his own company, Stoute spent 49 years with the Sagicor Financial Corporation before retiring in March 2009. During his long tenure with Sagicor, he held many different management positions including Senior Executive Vice President, Corporate Secretary, and Underwriting Vice President, and was responsible for introducing a number of product lines including health insurance. He was also a director on many Sagicor’s subsidiaries.
“Having Steve serve on our Board of Advisors is an exciting development as we look to strengthen our position in the marketplace and identify opportunities for continued growth,” said Steven W. Jacobson, President and CEO of Olympus Managed Health Care. “He brings a wealth of insurance industry experience and knowledge to this Board. We believe that his deep understanding and critical insight into the marketplace will greatly benefit our company in the future.”
A past president of the Insurance Association of the Caribbean, Stoute continues to serve on its Board and is the current Conference Chair. He was the founding president of the Institute of Caribbean Risk Managers and a long time vice president of the Barbados Chamber of Commerce and Industry. Stoute has worked with numerous international organizations and agencies, served on the LIMRA/LOMA Educational and Training Council and the PAHO Commission on Health Care Financing in the Eastern Caribbean. Stoute is also well know in the Caribbean Region and beyond as a sports administrator. He is Chairman of the Caribbean Association of National Olympic Committees, President of the Barbados Olympic Committee and member of a number of international sports organizations.
Olympus Managed Health Care Inc. is the leading independent provider of health care claims administration and cost containment services. Since its inception in 1994, Olympus has focused exclusively on facilitating access to health care on behalf of its health care clientele. Olympus’ innovative approach to health care reduces expenses by focusing on cost up pricing, while simultaneously enhancing end user satisfaction. Olympus’ products and services focus on bringing value to the payer, medical provider, and health care consumer. Olympus is privately held and 100 percent management owned.
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November 30th, 2009
AssuranceAmerica Corporation announced that John M. Mongelli has joined AssuranceAmerica Corporation as its Senior Vice President of Finance. John will also assume the role of Chief Financial Officer on August 16, following the filing of the company’s June 30, 2009 Quarterly Report. John was formerly the Vice President and Corporate Treasurer of ChoicePoint, Inc.
According to Guy Millner, CEO: “John brings us a great deal of experience in acquisitions and strategic planning, along with financial analysis and accounting. John’s background of eight years with ChoicePoint and ten years with various Coca-Cola companies will help
AssuranceAmerica Corporation focuses on the specialty automobile insurance marketplace, primarily in Alabama, Florida, Georgia, Louisiana, Mississippi, South Carolina, Texas, Arizona and Indiana. Its principal operating subsidiaries are AssuranceAmerica Managing General Agency, LLC (“MGA”), which markets the company’s insurance products through over 2,000 participating independent agencies, AssuranceAmerica Insurance Company (“Carrier”), and TrustWay Insurance Agencies, LLC (“Agency”), which primarily sells personal automobile insurance policies through its 48 retail agencies.
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November 30th, 2009
The list of Ward’s 50 top performing insurance companies was released by Ward Group, an operational consulting firm and leading provider of benchmarking and best practices services to the insurance industry.
Annually, Ward Group analyzes the financial performance of over 3,100 property-casualty insurance companies and over 800 life-health insurance companies domiciled in the United States and identifies the top performers in each segment. This group is called the Ward’s 50 for the year. Each Ward’s 50 company has passed all safety and consistency screens and achieved superior performance over the five years analyzed. The Ward’s 50 property-casualty group of insurance companies produced a 14.4% return on average equity from 2004 to 2008 compared to 9.9% for the property-casualty industry overall. The Ward’s 50 life-health group of insurance companies produced a 13.5% return on average equity from 2004 to 2008 compared to 6.4% for the life-health industry overall.
The past 18 months have been a volatile period for the insurance industry affecting companies in many different ways. “Volatility in the investment portfolios, economy and competitive landscape has forced companies to evaluate many of their business strategies,” explains Jeff Rieder, President of Ward Group. “In selecting the Ward’s 50, we identify companies that pass financial stability requirements and measure their ability to grow while maintaining strong capital positions and underwriting results.”
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November 30th, 2009
AXIS Capital Holdings Limited announced that the Company’s Board of Directors has appointed Thomas C. Ramey and Wilhelm Zeller to its Board as independent directors. Both will serve as Class II Directors.
Michael Butt, Chairman of AXIS Capital, said: “We are delighted to welcome Thomas C. Ramey and Wilhelm Zeller to AXIS Capital’s Board of Directors. Both individuals bring a wealth of experience through their distinguished careers in the international property and casualty insurance and reinsurance marketplace, and they join an exceptionally talented Board comprised of some of the most veteran business leaders today. AXIS Capital will benefit enormously from the experience of our new Board members as leaders in our sector while we continue to strengthen our leading global specialty insurance and reinsurance platform. We look forward to their contributions as members of AXIS Capital’s Board of Directors.”
Mr. Ramey was Chairman and President of Liberty International, a wholly owned subsidiary of Liberty Mutual Group, from 1997 to 2009. Additionally, Mr. Ramey served in the post of Executive Vice President of Liberty Mutual Group from 1995 through 2009. Prior to joining Liberty, he was President and CEO of American International Healthcare, a subsidiary of AIG, and founder and President of an international healthcare trading company. Mr. Ramey is currently a Trustee of the Brookings Institution and a Director of The Warranty Group, the International Insurance Society and the Coalition of Service Industries. He also serves as a member of the Chongqing Mayor’s International Economic Advisory Council and Chairman of the International Fund for Animal Welfare. He holds a Masters degree from Tulane University.
Mr. Zeller was Chairman of the Executive Board of Hannover Re from 1996 through his retirement from the company on June 30, 2009. Prior to joining Hannover Re, Mr. Zeller was a member of the Executive Board of Cologne Re from 1977 through 1995 and, in 1995, a member of the Executive Council of General Re Corporation. From 1970 through 1977, Mr. Zeller served as the Head of the Casualty Department and International Department Non-Life at Zurich Insurance Company. He holds a Bachelor’s degree in Business Administration, majoring in Insurance, from the University of Applied Sciences in Cologne, Germany.
AXIS Capital is a Bermuda-based global provider of specialty lines insurance and treaty reinsurance with shareholders’ equity at March 31, 2009 of $4.5 billion and locations in Bermuda, the United States, Europe, Singapore, Canada and Australia. Its operating subsidiaries have been assigned a rating of “A+” (“Strong”) by Standard & Poor’s and “A” (“Excellent”) by A.M. Best. AXIS Capital has been assigned a senior unsecured debt rating of A- (stable) by Standard & Poor’s and Baa1 (stable) by Moody’s Investors Service.
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November 30th, 2009
Health Net of the Northeast, Inc., a subsidiary of Health Net, Inc. announced that the National Committee for Quality Assurance (NCQA) has awarded an accreditation status of “Excellent” for service and clinical quality for Health Net of the Northeast’s commercial line of HMO and POS products in Connecticut, New Jersey and New York. The accreditation is effective July 2, 2009, and follows the Company’s “Excellent” accreditation awarded in July 2006.
Paul Lambdin, president, Health Net of the Northeast, said, “We are very proud to again receive NCQA’s highest status accreditation which underscores our dedication to the delivery of quality health care.”
The “Excellent” status, according to NCQA, is reserved for the nation’s best health plans. It is awarded to those plans that meet or exceed NCQA’s rigorous requirements for consumer protection and quality improvement and deliver excellent clinical care.
“It is partly a health plan’s members that determine whether it earns NCQA’s Excellent Accreditation status. Any plan that does so should be proud of its accomplishment. It is a sign that the plan’s delivering great service and great care – it’s met the toughest test in managed care,” said Margaret E. O’Kane, president, NCQA.
NCQA is a private, non-profit organization dedicated to improving health care quality. NCQA’s Healthcare Effectiveness Data and Information Set is the most widely used performance measurement tool in health care. NCQA accredits and certifies a wide range of health care organizations and recognizes physicians in key clinical areas. NCQA is committed to providing health care quality information through the Web, media and data licensing agreements in order to help consumers, employers and others make more informed
Health Net of the Northeast, Inc. headquartered in Shelton, Conn., is one of the largest health plans in the northeast, offering a full array of open-access products and coordination for multi-region employers. Through its subsidiaries, it offers full-service health plans that serve nearly 546,000 members in the tri-state area and a physician network comprising more than 160,000 physician and provider office locations, 5,440 pharmacies, and 244 hospitals throughout Connecticut, New Jersey, New York and Pennsylvania. Over 1,300 associates are employed throughout the tri-state region. Health Net of the Northeast has received an “Excellent” accreditation status from the National Committee for Quality Assurance (NCQA) for both its HMO and POS commercial product lines in Connecticut, New Jersey and New York. Other products offered include Preferred Provider Organization (PPO), Medicare and Medicaid plans.
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November 30th, 2009
Health Net of the Northeast, Inc., a subsidiary of Health Net, Inc. announced that the National Committee for Quality Assurance (NCQA) has awarded an accreditation status of “Excellent” for service and clinical quality for Health Net of the Northeast’s commercial line of HMO and POS products in Connecticut, New Jersey and New York. The accreditation is effective July 2, 2009, and follows the Company’s “Excellent” accreditation awarded in July 2006.
Paul Lambdin, president, Health Net of the Northeast, said, “We are very proud to again receive NCQA’s highest status accreditation which underscores our dedication to the delivery of quality health care.”
The “Excellent” status, according to NCQA, is reserved for the nation’s best health plans. It is awarded to those plans that meet or exceed NCQA’s rigorous requirements for consumer protection and quality improvement and deliver excellent clinical care.
“It is partly a health plan’s members that determine whether it earns NCQA’s Excellent Accreditation status. Any plan that does so should be proud of its accomplishment. It is a sign that the plan’s delivering great service and great care – it’s met the toughest test in managed care,” said Margaret E. O’Kane, president, NCQA.
NCQA is a private, non-profit organization dedicated to improving health care quality. NCQA’s Healthcare Effectiveness Data and Information Set is the most widely used performance measurement tool in health care. NCQA accredits and certifies a wide range of health care organizations and recognizes physicians in key clinical areas. NCQA is committed to providing health care quality information through the Web, media and data licensing agreements in order to help consumers, employers and others make more informed
Health Net of the Northeast, Inc. headquartered in Shelton, Conn., is one of the largest health plans in the northeast, offering a full array of open-access products and coordination for multi-region employers. Through its subsidiaries, it offers full-service health plans that serve nearly 546,000 members in the tri-state area and a physician network comprising more than 160,000 physician and provider office locations, 5,440 pharmacies, and 244 hospitals throughout Connecticut, New Jersey, New York and Pennsylvania. Over 1,300 associates are employed throughout the tri-state region. Health Net of the Northeast has received an “Excellent” accreditation status from the National Committee for Quality Assurance (NCQA) for both its HMO and POS commercial product lines in Connecticut, New Jersey and New York. Other products offered include Preferred Provider Organization (PPO), Medicare and Medicaid plans.
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November 30th, 2009
After thorough review of multiple agency management platforms, AgencyWorks receives a formal endorsement from National Brokerage Consortium (NBC) as the common platform of choice for all NBC members.
According to NBC Secretary Pete Caneer, “In world, insurance companies are looking for efficiencies from the national marketing organizations (NMOs) they deal with. If an NMO adopts a common platform, they are looked upon more favorably.” Caneer continues, “Additionally, since so many NBC agencies are second generation businesses, AgencyWorks products can help facilitate a smooth transition of management. A common platform also makes it easier for NBC members to assist fellow affiliates by sharing marketing advice and developing consistent management practices.”
“We believe that our company provides the most comprehensive technology solutions available in the life insurance industry and are constantly looking to enhance our product offerings. The endorsement from NBC is a strong indication that we are providing efficient and affordable solutions that meet the needs of our clients,” says Erin Anders, Vice President of Sales & Marketing, AgencyWorks.
National Brokerage Consortium is a nationwide network of family-owned independent brokerage agencies specializing in life insurance, annuities, disability insurance and long-term care insurance. The NBC group was founded in 1989 — the original purpose was to aggregate production to maximize commissions with one initial ‘strategic partner company.’ Since then, membership has increased to 32 agencies with 11 Strategic Partner companies. The primary vision of NBC is to make membership a “life changing event” for members in terms of personal growth and professional development. NBC is, and will continue to be, a unique IMO, dedicated to fellowship and the enthusiastic embrace of each member as a friend and respected colleague, committed to the betterment of all members. At NBC, currently over 40 members and individuals from member agencies are involved in leadership roles.
The long term viability of any organization is in the development of successor leadership. NBC grows new leadership through a formal education plan (NBC University – founded in 2003) that encourages the adaption of new technology such as AgencyWorks. The Board of Directors and the senior leadership team is committed to building a broad based leadership platform — and the best technology platforms available in the business.
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November 30th, 2009
enkins Insurance Group, a Leavitt Group affiliated agency, is pleased to announce the hiring of Scott W. Reynolds as a Vice President. Scott will lead Jenkins’ new Energy Practice with a focus on the Renewable Energy industry.
Reynolds has been in the insurance industry for 28 years with extensive experience in the Energy field. He was previously with Marsh, Inc. where he was Senior Vice President and led Marsh’s Renewable Energy practice for the Western Region. Prior to Marsh, Scott was the Director of Risk Management at Florida Power & Light Company. He has a degree in economics from the University of California, Berkeley and a Juris Doctorate from the University of San Francisco.
“We are standing on the edge of transformational opportunities in the Renewable Energy industry,” said Reynolds. “The Renewable Energy sector is one of the fastest growing segments as the United States and other countries install ‘green’ energy to address global warming and reduce our dependence on foreign oil.”
Curt Perata, co-owner of Jenkins Insurance Group, said Reynolds’ contribution will be invaluable to the firm’s current and future clients. “Scott’s experience will enhance our team and our ability to serve clients with their risk management and insurance needs,” said Perata.
Located in Concord and Sacramento, California, Jenkins was established in 1937. Founded by James W. Jenkins, and his son, James C. Jenkins, the agency has been a family-owned company for more than 70 years. The agency provides risk management, property and casualty insurance, and employee benefits programs to clients throughout northern California.
The Leavitt Group is an organization of independent insurance agencies with 115 offices across the United States. As the 14th largest brokerage in the nation, and the 3rd largest privately-held brokerage, the Leavitt Group provides affiliated agencies with management services, specialty products, and greater access to insurance markets that create a stable insurance environment for clients.
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November 30th, 2009
Duck Creek Technologies, Inc. a leading provider of software and service solutions for the insurance industry, today announced that United America Indemnity Group, Inc. (”United America”) has implemented Duck Creek’s Policy Administration solution for a number of its Commercial ISO lines products. The PA-based carrier went live within six months with a custom Vacant Property product called VacantExpress®, which enables brokers nationwide to rate, quote and issue at the point of sale. One month later, United America went live with the first phase of a new Commercial Auto lines product.
These solutions allow United America to add more products to a growing Commercial Excess & Surplus and Specialty Lines portfolio. Current plans are underway to continue expanding the Duck Creek solution for the array of products across the company.
Duck Creek’s Policy Administration solutions provide United America with a modern policy administration system that is able to meet their aggressive performance requirements. United America is now able to leverage all facets of the new policy administration system for the implemented lines of business, including the ancillary benefits such as decreased time to bring products to market, improved data quality and accuracy, elimination of manual coding and data reconciliations.
United America’s Chief Information/Administrative Officer, Ed Rafter, commented, “Duck Creek’s Policy Administration solutions greatly assisted us in broadening our current product portfolio. The Commercial Auto templates provide ISO rates, rules, forms and state requirements that actually jump-started and accelerated our implementation time. The system is not only a state-of-the art policy administration system, but also introduces a common platform that United America can easily build on in the future.”
Duck Creek’s CEO, Steve Hall, commented, “United America is a valued customer. We congratulate them on reaching this milestone in their policy administration replacement system that supports all personal, commercial and specialty lines and that satisfies their aggressive timelines for completion. We look forward to our continued work together as they deploy more of our solutions.”
United America through its several direct and indirect wholly owned subsidiary insurance companies is a national provider of excess and surplus lines, specialty property and casualty insurance, both on an admitted and non-admitted basis. Its three independently operated but mutually complementary business divisions include: Diamond State Group®, Penn-America Group® and United National Group®.
Duck Creek Technologies, Inc. is a leading provider of software and services to the insurance industry, providing next-generation policy administration, billing, product definition & configuration, and rating for the Property & Casualty and Healthcare insurance markets. Duck Creek is dedicated to enabling customers to develop insurance products and to sell and service those products in their chosen markets with unprecedented speed to market, flexibility, reach and quality. Founded in 2000, Duck Creek is headquartered in Bolivar, Missouri, and has multiple offices within the United States, with its affiliate and licensing partner in Europe, the Middle East and Africa, Duck Creek Technologies Europe Ltd., headquartered in London.
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November 30th, 2009
NASCAR Nationwide Series, Brad Keselowski has several thousand more reasons for the checkered flag in the Kroger in the area to try the 250 at Memphis Motorsports Park to celebrate.
Brad Keselowski won $ 25,000 in recent Nationwide Insurance Dash 4 Cash race of the 2009 season and a total of $ 50,000 for Dash 4 Cash bonus for highest accumulated points from four NASCAR Nationwide Series stand-alone game in Nashville, Kentucky, Iowa and Memphis.
Joey Logano won the first two Dash 4 Cash race at Nashville Superspeedway and Kentucky Speedway. Logano is not running a full schedule in the Busch Series this year and was excluded to earn the bonus. Brad Keselowski took home the $ 75,000 bonus after winning overthrow the U.S. cellular 250 at Iowa Speedway in August.
Nationwide Insurance Dash 4 Cash is the first type of bonus program for the NASCAR Busch Series by Nationwide, NASCAR and ESPN focuses on four separate games in Nashville, Kentucky, Iowa, and Memphis.
The program is open to all NASCAR Busch Series regular and up to the participants, including those who can not travel full time in the NASCAR Busch Series. Driver NASCAR Busch Series race with a full-time NASCAR NEXTEL Cup should be involved, any events in the NASCAR Busch Series in order to qualify for payment in cash.
Nationwide, based in Columbus, Ohio, is one of the largest insurance and diversified financial services organizations in the U.S. and and is rated A + AM Best Company offers a wide range of personal insurance and financial services, including vehicles – - Insurance, motorcycle, boat, home, life, farm, commercial insurance, administrative, pensions, mortgages, mutual funds , annuities and long-term plans and savings services to the health and productivity. For more information, visit www.nationwide.com.
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November 27th, 2009
U.S. Sen. Sherrod Brown says that unless Congress acts quickly, many families will start to lose federal subsidies to help them afford temporary health coverage when they are unemployed.
Brown, D-Ohio, is among five Democratic senators appealing to U.S. Senate leadership to extend the period of time that COBRA health insurance is available for workers who lose their jobs.
Under provisions within the American Reinvestment and Recovery Act, the COBRA Premium Assistance Program provides a 65 percent subsidy on COBRA premiums for nine months to those involuntarily terminated between Sept. 1, 2008, and Dec. 31, 2009.
Workers who were eligible for the initial subsidy at the start of the program on March 1, 2009, would no longer qualify for this assistance on Dec. 1, unless legislation is passed to extend the period, Brown said.
Brown along with U.S. Sen. Robert P. Casey Jr., D-Pa., have introduced legislation to lengthen the duration of the subsidy from nine months to 15, extend the termination deadline to June 2010, and to increase the federal subsidy on premiums from 65 percent to 75 percent.
The bill also would allow workers who see a severe reduction in their hours — and are thus no longer offered employer-subsidized coverage — to be eligible for the COBRA Premium Assistance Program, Brown said.
The bill would provide workers who are offered retiree health benefits — currently excluded from the program — access to the subsidy.
“These critical improvements would allow more Americans the option of subsidized COBRA coverage during these hard economic times,” Brown, Casey and three other Democratic senators wrote in a letter to Senate leadership.
“With millions of Americans no longer receiving employer-subsidized health insurance through work, it is imperative that we do all we can to limit the rise in the newly uninsured — and the subsequent increase in uncompensated care and Medicaid enrollment that would surely follow.”
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November 27th, 2009
As details emerge about the healthcare reforms advancing through Congress, Robert Rabinowitz, an uninsured Miami Beach real-estate agent, is getting increasingly concerned.
Both the House and Senate bills propose delaying the most important components until 2013 or 2014. “That’s a crock,” said Rabinowitz, 57. “Why should they make people wait so long? We need something done now.”
In fact, the two bills — each about 2,000 pages — are stuffed with details that are just now bubbling into the public consciousness.
Overall, the benefits could be huge for South Florida, where 28.1 percent of residents in Miami-Dade and 21.8 percent of Broward are uninsured.
Still, rumors are flying. Rabinowitz says he’s heard on Rush Limbaugh’s radio show that the Senate proposal to help pay for reforms by taxing medical devices will mean price hikes on everything from tooth brushes to tampons. “That’s how crazy and ridiculous this bill is,” said Rabinowitz.
In fact, page 2,023, paragraph A, of the new Senate bill excludes devices that cost less than $100.
That’s just one of the thousands of small items proposed in the bills.
And here’s the big picture for Florida, as reported this week by Health and Human Services: Reforms will facilitate affordable coverage for four million Floridians who are now uninsured and 1.1 million who presently have expensive plans purchased on the individual market.
About 2.5 million Floridians could qualify for tax credits to help them purchase coverage, and 216,000 small businesses in the state would get tax help in making the purchase of premiums more affordable, according to the HHS.
About 565,000 seniors in the state would benefit from seeing the so-called “doughnut hole” in the Medicare prescription drug program cut in half, according to the HHS report.
Meanwhile, talk shows are reporting that the reforms will increase costs for those with employer-based insurance.
The Washington-based consumer group Families USA commissioned a study from the Milliman consulting group, which reported that many Americans are now paying a “hidden health tax,” because hospitals and other providers pass along their costs for treating the uninsured to those who have coverage. The study estimated that insured families could save $1,000 a year if the uninsured get coverage.
At present, the biggest reforms face long delays: The requirement that everyone have insurance and the offer of subsidies for those who can’t afford to pay the full premiums wouldn’t start until 2013 (House) or 2014 (Senate).
This means a new president and a new Congress could be in place — leaving the possibility that the reforms could be axed.
“Well, that could happen,” said Ron Pollack, president of Families USA, but he thinks it unlikely that a super-majority could be found in the Senate to undo a reform passed this year. That would require a political shift from 60 Democrats and allies to 60 Republicans — “and the chance of that seems relatively small.”
Pollack says Congress views the delays as necessary both for implementing complicated legislation and also for budgetary reasons — so that the reforms don’t create massive deficits in the recession.
INDUSTRY CONCERNS Still, those delays have many healthcare leaders in South Florida concerned. “The question is, how do we get from here to there,” said John Benz, chief strategic officer of the Memorial Healthcare System. Benz and many others are concerned that the end of stimulus dollars and horrendous budget problems facing the state Legislature could leave public hospitals suffering until reforms kick in.
If a bill is enacted, however, many proposals would start next year, according to an analysis by the Kaiser Family Foundation. That includes requirements that adult children can continue to be carried on parents’ policies until age 26 (House) or 27 (Senate).
A temporary, high-risk pool could also kick in next year, under both the House and Senate proposals. It would be aimed at persons with preexisting conditions until the full reforms begin. The House version provides $5 billion to help subsidize the pool.
Under the House plan, people could keep COBRA coverage until 2013. Starting next year, insurers would be required to spend at least 85 percent of premiums on healthcare and would be prohibited from dropping coverage on a person or group except in cases of fraud.
PROPOSALS On other issues: Taxing the so-called “Cadillac” health plans: The new Senate version has slightly increased the thresholds for taxing: from $8,000 to $8,500 for individuals and from $21,000 to $23,000 for families, reports America’s Health Insurance Plans.
Illegal immigrants: The House proposes allowing them to buy coverage from a national insurance exchange, but they would get no federal subsidy to help pay for coverage, according to a New York Times analysis. The Senate goes further, prohibiting them from buying insurance on the exchanges.
This issue is particularly crucial for Jackson Health System, which estimates that last year undocumented immigrants visited Jackson 77,415 times, costing the system $38 million in unpaid care.
Medicare Advantage: The Senate version continues to propose competitive bidding among insurers to get prices down, while the House wants these health maintenance organizations for seniors to cost no more than fee-for-service programs in their areas. Presently, 283,000 seniors in Dade and Broward have the HMOs because they are rich with extra benefits, thanks to federal rates provided to private insurers.
Special hospital funding: Assuming hospitals will see reduced numbers of uninsured, lawmakers propose cutting a program called Disproportionate Share Funding for those hospitals with high numbers of uninsured.
FUNDING FEARS Jackson estimates it will lose $72.7 million under the Senate version, $34.6 million under the House version. Jackson leaders fear the funding will vanish faster than the uninsured, including immigrants.
“The concern of the public hospitals really is the balancing of the increase of coverage versus the decline in funding,” said Benz at Memorial Healthcare System. “The second concern is how much we will be paid for the newly covered: Will the payment rate be enough to cover the cost of care?”
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