Making Waves as a Small Business

/ / All Posts, Small Business

As a country built on small business and entrepreneurship, what has allowed these companies to thrive? Many of these companies have seen a problem and created a solution. They see what needs to be fixed and fix it, often creating back lash from the companies who the “problem” originates with. In the healthcare industry we have seen that Group Health Insurance is broken and offer a solution to solve the “pain” that comes with group health plans. Naturally getting backlash from Group Health Insurance brokers saying that what we are doing isn’t legal. Fair enough, we understand their sentiments come from […]

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Another Health Cooperative Bites the Dust

/ / All Posts, Health Insurance, In The News

When the ACA passed in 2010 it included the creation of state based co-op’s. With very few choices in the marketplace 23 states created their own co-op giving a reprieve to consumers hoping to pay lower costs. Each of the co-op’s are start-up companies and are having to hedge their way in a market with several large carriers that have decades of market presence. Many of the co-ops have come in with lower costs to gain high enrollment for the first few years of opening the doors. A strategy that has worked against several co-op’s like Louisiana’s Health Cooperative (LAHC) which

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Largest Insurance Merger in History

/ / All Posts, Health Insurance, In The News

Last Friday news was buzzing with the announcement that Cigna and Anthem will in fact be merging. The $54B deal won’t be finalized without Federal approval, but after long awaited negotiations an agreement has been met. Currently there are five major health insurance carriers, Aetna, Cigna, Anthem, United Healthcare, and Humana. Although three weeks ago Aetna acquired Humana bringing the large carrier count to four. Now this merger takes the count down to three. Speculation as to why these carriers feel the need to merge has been a heightened topic, but a substantial reason has yet to presented itself. Dan Diamond who

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Will The Co-Ops Survive?

/ / All Posts, Health Insurance, In The News

When the Affordable Care Act was passed several Health Insurance Co-Ops were created to move away from the traditional healthcare insurers. Grace-Marie Turner with the Galen Institute states, “The co-ops were founded on the idealistic belief that community members could band together to create health insurance companies that would be member-driven, service-oriented, and would not have to answer to shareholders or turn a profit.” This ideal is wonderful, but each of these co-ops are startup companies that are having growing pains. They are each trying to find the balance of premium cost versus losses taken. Several of the co-ops had a

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What if Obamacare is Ruled Against?

/ / All Posts, Health Insurance, In The News

With the passing of the A.C.A. healthcare is often a political issue. This is especially true when following the King Vs. Burwell case where Republicans want the law upended and the Democrats would like it to stay as is. Republicans are having to take a second look at their initial push to have Obamacare struck down due to how this could impact their constituents and the upcoming election. If millions of Americans lose coverage this could be a negative in the eyes of voters. The majority of Republicans in office do not want Americans to have a disruption in service and see the need for

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Maryland Small Businesses to Face New Regulation

/ / All Posts, In The News, Small Business

In Maryland it is not just group health insurance premiums that are rising. A new regulation took effect on June 1st for Maryland small businesses that increase’s their stop-loss on self-funded employer sponsored insurance plans. Small businesses under 50 employees do not have to provide health insurance for their employees, but many still do. A self-funded plan allows a company to offer their employees benefits without having the larger expense of a traditional group insurance plan. Although, the new regulation raises the amount an employer must pay towards an individual’s health claim from $10,000 to $22,500 before the stop-loss insurance kicks in. With this regulation

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