The Scoop: medical insurance news today – Health Insurance Resource Center

5August 2020

In this edition Missouri voters authorize constitutional modification to expand Medicaid

Citizens in Missouri approved Amendment 2 yesterday, which will expand Medicaid eligibility in the state to cover grownups as much as age 64 with income up to 138 percent of the poverty line (a bit under $18,000/ year for a bachelor). The amendment calls for Medicaid expansion to take effect in Missouri since July 2021. For the last numerous years, Republican lawmakers in Missouri have declined federal financing to expand Medicaid, however voters authorized the modification by a margin of about 53-47. Oklahoma citizens authorized a comparable procedure in June, and 4 other states– Maine, Utah, Idaho, and Nebraska— have actually approved Medicaid growth ballot steps in previous elections.

Colorado individual market insurers propose average rate boost of about 2% for 2021

Colorado’s 8 specific market insurers– all of which offer protection in Colorado’s state-run medical insurance marketplace– have proposed an overall average rate increase of about 2 percent for 2021, with proposals that vary from a decline of about 12 percent to a boost of about 6 percent. Two of the insurers– Bright Health and Rocky Mountain Health Plans– are broadening their protection locations for 2021. This year, Colorado has 22 counties where just a single insurance provider offers plans in the exchange; that will drop to 10 counties next year.

Two new insurers sign up with Arkansas exchange for 2021; existing insurance companies propose typical rate increase of about 7%

The Arkansas medical insurance market presently has 4 insurers providing strategies, although three of them become part of the Centene/Ambetter household. For 2021, two brand-new insurers– Oscar and Health Benefit– have actually submitted plans to join the private market in the state and deal plans in the exchange. Health Benefit is an affiliate of Arkansas Blue Cross and Blue Shield, as is one of the existing exchange insurers, Functional Mutual.

The 4 existing insurers have proposed a general weighted typical rate increase of about 7 percent for 2021. Functional Mutual has the largest market share and has proposed the smallest average rate increase, at less than 3 percent. But the other three insurance companies have all proposed average rate increases of a minimum of 11 percent.

Covered California insurance companies propose record-low typical rate boost of just 0.6%

Covered California published initial rate changes for its individual market this week, with an overall average rate boost of 0.6 percent. If finalized as is, that would total up to the smallest total rate boost in Covered California’s history, and the second consecutive year with an average rate boost of less than 1 percent. Eleven insurance companies use individual market plans through Covered California; five have actually proposed typical rate boosts while six have actually proposed average rate decreases. 2 insurers– Anthem Blue Cross and Oscar– will expand their coverage areas for 2021. Practically all California residents will be able to select from a minimum of two insurers’ plans for 2021, and the majority of will be able to pick from among four or more insurance companies.

New Jersey enacts legislation to develop state-funded premium aids offered for 2021

Recently, we informed you about New Jersey legislation created to replace the federal medical insurance tax with a state evaluation to generate income that will be utilized to make individual health insurance more cost effective in New Jersey. A few days later, and just about 3 weeks after it had been presented, the legislation was signed into law by Guv Phil Murphy.

The new law will allow the state to continue its successful reinsurance program, and likewise offer extra premium aids to exchange enrollees with income approximately 400 percent of the poverty level. These enrollees already get federal subsidies to offset the expense of their health insurance, but the additional aids will make coverage more affordable and make it more sensible for individuals to acquire more robust protection that will restrict their out-of-pocket exposure when they need medical services. The state-based subsidies will be offered for next year’s protection, which can be bought starting November 1.

Across 18 states and nearly 5 million enrollees, proposed average rate increase of about 2% for 2021

At ACA Signups, Charles Gaba is tracking typical proposed health insurance premium modifications for 2021 in an at-a-glance format. Throughout 18 states where individual market rate filings have been made public– accounting for almost 5 million enrollees– Gaba has computed a weighted average suggested rate increase of just over 2 percent. This might still change as the summer season goes on, with more states being included, regulators weighing in on the proposed rates, and the continuously developing effect of COVID-19. However for now, it’s shaping up to be another year of mostly modest overall rate modifications in the private market.

Oscar expands into four brand-new states, grows coverage location in 3 other states

Oscar, which currently uses individual market coverage in 14 states, is as soon as again expanding its protection area for 2021. Oscar’s individual and family health plans will be freshly offered in select metropolitan areas in Arkansas, Iowa, North Carolina, and Oklahoma. And the insurance provider will expand its existing coverage locations in Colorado, Florida, and Pennsylvania. Coverage area growths are shaping up to be fairly prevalent once again this year, with Friday Health Plans, Bright Health, UnitedHealthcare and various local insurers also entering brand-new states, and numerous insurance companies broadening their existing coverage footprints within states. Bipartisan legislation presented in Pennsylvania would sharply limit short-term health insurance< a href

=”https://www.healthinsurance.org/pennsylvania-short-term-health-insurance/”> Pennsylvania is among the

states where short-term health insurance are allowed to follow federal standards, although the state’s insurance coverage commissioner has long been outspoken about the drawbacks of short-term health insurance. Last week, bipartisan legislation was presented in Pennsylvania’s House that would sharply limit short-term plans. If enacted, the costs would restrict short-term strategiesto 90 days and restrict them from continuing into the coming year or taking effect in the year after they’re bought. It would also enforce a range of other guidelines connected to marketing, underwriting, and claims processing. Louise Norris is an private health insurance broker who has been blogging about health insurance and health reform considering that 2006. She has actually composed dozens of viewpoints and educational pieces about the Affordable Care Act for healthinsurance.org. Her state health exchange updates are regularly cited by media who cover health reform and by other medical insurance experts.Source: healthinsurance.org

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