I just started a new job at Business Insider, and had to pick a health insurance plan for the first time. Figuring out which plan to choose was really complicated – and I’ve been writing about healthcare for years. Here’s what I learned about how to pick a health insurance plan, and why I didn’t just go with the cheapest option. I recently got a new job here at Business Insider. And for the first time, I had to pick a health insurance plan, from among the four that our parent company, Insider Inc., offers. I should be pretty well-positioned to do that. I’ve been writing about healthcare for years, and I’m married to a doctor. Yet I found the choices confusing, and had a tough time figuring out which plan would be the best one for me. So I asked a couple experts (and the Internet) to help me pick the right plan. Here’s what I learned. The standard advice for picking a health insurance plan goes something like this: choose one with a … [Read more...] about My company offers free health insurance — here’s why I decided to spend $1,000 more on a better plan
Stop calls from health insurance companies
The biggest corporations directly pay for many healthcare services. There are ways small companies can do the same. Paul Johnson Published 9:00 am, Saturday, June 23, 2018 Photo: SARINYAPINNGAM | Getty Images Image 1of/1 CaptionClose Image 1 of 1 Photo: SARINYAPINNGAM | Getty Images You Can Cut Employee Health Insurance Costs the Same Way Big Companies Do 1 / 1 Back to Gallery The cost of health insurance has risen by 50 percent in the last decade. During that time, independent physicians reduced profitability, both in percentage and actual return. How can that be? Administrative costs, regulation and place of service are major contributing factors, as is waste, fraud and abuse. A recent Harvard study shows how to cut one trillion dollars -- a third of the total cost of healthcare -- with no … [Read more...] about You Can Cut Employee Health Insurance Costs the Same Way Big Companies Do
Health insurance is complicated to navigate no matter who you are. But, thrust into a career where head injuries and broken bones are practically the norm, and very much public knowledge, what does that process look like? Curious to know a little more about how health insurance policies play out for sports teams—including the beloved Eagles—we reached out to Michael McCloskey, associate professor of risk management and insurance at Temple University’s Fox School of Business. How does, say, a football player in the NFL get health coverage, and who foots the bill? The world is full of questions we all want answers to, but are either too embarrassed, time-crunched or intimidated to actually ask. With Infrequently Asked Questions, we set out to answer those shared curiosities. Have a question you want answered? Send an email to [email protected], and we’ll find an expert who can give you the answer … [Read more...] about How do professional athletes get their health insurance?
Mary Beth Sewald, president and CEO of the Las Vegas Metro Chamber of Commerce, speaks during Preview Las Vegas, the Las Vegas Metropolitan Chamber of Commerce's largest annual networking event, at Cox Pavilion on Friday, Jan. 26, 2018, in Las Vegas. (Bizuayehu Tesfaye/Las Vegas Review-Journal) @bizutesfaye The Las Vegas Metro Chamber of Commerce would like to get back into the health insurance business. Such a move became more likely on Tuesday when the Trump administration announced a rule that would allow small businesses or associated groups to band together to purchase what are known as association health plans. The U.S. Department of Labor said the move will enable groups that share a commonality — such as an industry or geographic location — to obtain more affordable coverage. The change has come under criticism by some insurance experts because it doesn’t mandate that plans cover essential health benefits established under the Affordable Care Act, including … [Read more...] about Las Vegas Chamber of Commerce hopes to offer members health insurance
Minnesota’s nonprofit health plans saw their financial performance rebound in 2017, driven in part by a surprisingly large profit margin in the market where individuals buy coverage. Margins in the individual market were so high that one health insurer could be providing $30 million in consumer rebates, while an official with another health plan hinted that flat or discounted premiums could be on the horizon. For the past several years, the individual market has been a source of red ink for insurers across the country under the federal Affordable Care Act (ACA). The financial losses in Minnesota have been so large that lawmakers this year are spending $271 million to shore up the market. “Medical costs for people who buy insurance on their own went down per-person,” said Jim Schowalter, the chief executive of the Minnesota Council of Health Plans, the trade group that issued the report. “That is unexpected and obviously contributed significantly to the … [Read more...] about Health insurers return to profitability in Minnesota