Illinois Department of Insurance的动态

It isn't often that a medical malpractice insurance company (not an RRG) goes out of business, but it can have really devastating effects when this does occur. When a healthcare provider asks us about the differences between insurance companies, we like to discuss the company's history with med mal insurance and their AM Best rating. Although we can never be certain that an insurance company won't pull out of a particular line of coverage or close its doors altogether, these are two indicators we analyze to help judge viability. https://lnkd.in/d3NXhjd #medmal #medmalinsurance #insurance #insurancebroker #broker

UnitedHealthcare CEO’s killing shines light on health-insurance denial rates Words written on shell casings — “deny,” “defend” and “depose” — are leading to discussions about frustrations over the number of claims that get denied (which I suggested earlier today as a possible motive) - In July, more than 150 protestors gathered outside of the headquarters of UnitedHealthcare Group Inc. UNH in Minnetonka, Minn. Their complaint: the number of claims the health insurer denied. - It’s an issue of great frustration among the insured, exacerbated by a lack of transparency among insurance companies that don’t publicly disclose their denial rates and have few requirements to do so under government regulations. https://lnkd.in/gx2fUQef - While the motive behind the killing of Brian Thompson, the top executive of the company’s health-insurance division, remains unknown, one theory has?emerged?based on words found on shell casings found at the scene.? - According to police, bullets were marked with the words “deny,” defend” and “depose.” This has led to speculation in the media that the words were a reference to a 2010 book, “Delay, Deny, Defend: Why Insurance Companies Don’t Pay Claims and What You Can Do About It,” which focused on insurance companies’ efforts to avoid paying health-insurance claims. - The protest outside UnitedHealthcare’s headquarters this summer — in which 11 people were arrested — was an effort to raise awareness about the issue.

Ascension, a healthcare system operating hospitals in Texas, will discontinue offering health insurance plans under Ascension Personalized Care in the state. This change takes effect on January 1, 2025. What's Happening? Ascension Personalized Care will no longer provide health insurance coverage in Texas after December 31, 2024. Policyholders have received notices regarding this change. Ascension assures the decision is unrelated to the May 2024 ransomware attack, but hasn't provided a specific explanation. Current enrollees will have the opportunity to select a new plan during the Open Enrollment period starting November 2024. The Texas Department of Insurance advises policyholders to research alternative plans and make a selection before their current coverage ends. Learn more: https://hubs.ly/Q02F7Vph0

The NAIC's Long-Term Care Insurance Task Force has recommended disbanding by the end of 2024, with its work reallocated to other task forces. This shift aims to streamline efforts on multistate rate reviews and reduce benefit options for consumers. You can learn more in this post for our "LTCi Summit" blog by Jamie Campisi.

Shifting from the usual focus on the #MedicareAdvantage market to the #Marketplace/Federal Health Insurance #Exchange market -- Here's the latest on the ramped-up focus of not only #CMS but also #Congress on insurance #agents and #brokers in the Exchange market. Written with Rachel (Soclof) Portman and Sua Yoon

A recent survey conducted by LocalCircles highlighted the challenges faced by policyholders, with a staggering 43% reporting difficulties in processing their health insurance claims over the past three years. From claim rejections to partial approvals and lengthy processing times, the hurdles are real. The survey gathered opinions from over 39,000 people in 302 areas. It highlighted six main problems faced by policyholders. These include not being properly informed about what is covered and what isn't, and not understanding the complicated language used in insurance contracts. Some people have their claims rejected because they had existing health issues, and others find crop insurance schemes confusing. At Insurance Samadhan, we understand the frustrations associated with claim rejections. If you've encountered genuine difficulties with your health insurance claim, don't hesitate to reach out to us. We're here to provide guidance, support, and solutions to ensure you receive the coverage you rightfully deserve. Let's navigate the complexities of insurance together. #InsuranceSamadhan #HealthInsurance #ClaimRejections #InsuranceSolutions #InsuranceHelp #InsuranceAwareness

Today we're highlighting two of the most influential insurance companies from our latest research report - Clover Health and CNA Insurance. ?? ? ?? Clover Health is a tech-driven healthcare company focused on improving health outcomes for Medicare beneficiaries. Using advanced data analytics and a patient-centered approach, Clover provides affordable, high-quality Medicare Advantage plans. Bruce F. T.Alisha Carter, MHRM, PHR Jamie Reynoso ----- ?? CNA Insurance is a leading commercial insurance provider offering a wide range of solutions to businesses and professionals worldwide. CNA specializes in property and casualty insurance, risk management, and tailored coverage for industries such as healthcare, technology, and construction. Benjamin Atkinson Shawn Farrar Donna O'Brien Santhosh Ladalla Michael Costonis Jennifer Andriany, CAE Katie Roberts Jessica Van Lear, MBA, AAI Heather Giordano Tina Nagle Ariana J. Paz, MBA, SHRM-SCP Learn more by downloading the FREE Insurance Report today: https://bit.ly/Clover-CNA #MostImpactful #InsuranceInnovation #InsuranceLeaders #Clover #CNA #InsuranceReport

Demystifying Stop-Loss Insurance and Claims Funding in Level Funded Plans As a health insurance broker, understanding the mechanics of level funded plans is crucial. Two key components that raise questions are stop-loss insurance and claims funding. Let's break it down: 1. Claims Funding: This is the portion of the monthly payment that goes towards covering expected healthcare costs. It's calculated based on the group's historical claims data and demographic information. Think of it as a self-funded pool for routine claims. 2. Stop-Loss Insurance: This is the safety net. It protects your client from unexpectedly high claims that could otherwise be financially devastating. There are two types: - Specific Stop-Loss: Covers excessive claims for any individual - Aggregate Stop-Loss: Protects against unexpectedly high claims for the entire group Here's how they work together: Your client pays a set monthly amount. Part of this goes to claims funding, part to stop-loss premiums, and part to administration. If claims are lower than the funded amount, your client may receive a refund. If they're higher, stop-loss kicks in to cover the excess. This structure allows for the potential savings of self-funding with the security of insurance backing. It's a powerful tool in your arsenal, allowing you to offer clients both cost-saving potential and peace of mind. Want to dive deeper? Comment "Send It" for a link to join our webinar on mastering level funded plans. We'll explore real-world scenarios and best practices for implementation. #NavigationHealth #LevelFunded #StopLossInsurance

AmeriLife's Insurance Services Partners has acquired One Health Benefits, a full-service independent insurance agency specializing in individual, group, and senior insurance solutions. The acquisition strengthens Insurance Services' presence in South Carolina, enabling the company to better serve its growing client base and provide personalized support for health and life insurance needs. 'We're excited to partner with One Health Benefits and its founder, Dena Schmid,' said Chad Mikolajcik of Insurance Services. 'Her passion and dedication align perfectly with our mission and AmeriLife's values.' As an AmeriLife affiliate, One Health Benefits gains access to best-in-class platforms, tools, and an expansive product portfolio to accelerate growth and meet consumer needs with expertise and service. 'This partnership enhances our ability to deliver innovative and comprehensive health and life insurance solutions,' said Scotty Elliott, AmeriLife's Chief Distribution Officer for Health. @amerilife @insuranceservices #healthinsurance #lifeinsurance #acquisition #partnership