Health Insurance

Yesterday Colorado's Division of Insurance released the first batch of health insurance rate filings with the premium rate change requests insurers are making for plans on the Colorado Exchange.

Even though the 2014 open enrollment period feels like it just closed, insurers in many states are already preparing for next year. With the next enrollment period only months away, the insurance companies already need to begin submitting changes to plan premiums and benefits to the appropriate regulatory bodies. 

With the first open enrollment period in the books, what's next for the Affordable Care Act?

The administration is set to announce that insurance companies can extend the period where they offer plans that do not meet Obamacare’s essential health benefits, extending by two years the potential availability of non compliant plans. Fears that these delays will adversely affect the insurance pools and the insurance carriers have probably been overstated.

On Tuesday both the president and The Department of Health and Human Services announced that 4 million people had selected a private insurance plan through the federal and state health insurance exchanges. Ultimately the question both the insurance carriers and the government are grappling with, is if the exchange are offering health insurance of compelling value at a price that is affordable to get the uninsured enrolled.

The CBO has projected that by 2016 an additional 22 million people will find some form of Health Insurance Coverage through the Affordable Care Act's Health Insurance Marketplaces.

When it comes to the Obamacare exchanges Humana (NYSE: HUM) has adopted a strategy of competiing on price and being very selective when it comes to the service areas where they have chosen to offer insurance plans. A look at the plans offered by Humana on the federal exchange will show that their plans are among the cheapest when compared to other insurers in the same county and rating areas. In almost all cases the Humana Bronze and Silver pl

Much has been written about the need for young consumers to sign up for on-exchange health plans in order to make the insurance risk pools stable. In a recent Kaiser study, it was pointed out that a broad underrepresentation of the young would not in itself require a significant increase in premiums to stablize costs.

Consumers shopping for dental insurance on the Healthcare.gov will need to be careful while deciphering how cost sharing in the plans actually works. Under the Affordable Care Act, pediatric dental is now one of the essential health benefits that insurers need to include as part of their insurance offerings.

The Affordable Care Act will push the over 45 million uninsured in the United States to find health care coverage. The largest portion of this group will find coverage through the health insurance marketplaces set up by the state and federal exchanges. Consumers purchasing through the exchanges will receive coverage through private insurance companies, with many receiving federal tax credits to help pay for policies.

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