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Indiana Insurance News
6/8/2016 Anthem's proposal to raise 2017 health insurance rates in Indiana by as much as 20% to 41% has sparked concern by individuals and small businesses that purchased Obamacare coverage. New York Times reports that similar health insurance cost hikes are proposed in many other states.
1/1/2015 Health insurance status summary for 2015: 132,000 Indiana residents enrolled for 2015 coverage and another 95,000 signed up for Medicaid programs. The state hopes to enroll another 300,000 in a program called Healthy Indiana Plan under the state's new Medicaid expansion program. Nine health insurance companies now offer coverage through the exchange compared to four last year. The portion of uninsured Indiana residents dropped from 14.8% last year to 12.8% this year.
2/11/2014 Professional support for any health care reform issue is available free of charge through an arrangement with OnlineNavigator. All online inquiries are handled personally by Tony Novak, CPA. Online support is available through a number of popular social media channels including Facebook and Google+ as well as e-mail. Telephone support for insurance enrollment is available through Members Insurance Exchange at (800) 609-0683.
7/26/2013 Affordable Smart Term Life Insurance is now available to most Indiana residents from age 20 through 60 directly online with no physical exam, agent appointment or telephone verification. Most policies are issued on the same day with coverage amounts of $25,000 up to $350,000. The level premium life insurance is available for terms of 10, 15, 20 and 30 years. Sample rates for $150,000 coverage for a preferred risk male age 30, non-tobacco $30.85 per month; tobacco user $49.55 per month. A preferred risk female age 30 non-tobacco user would be $26.49 per month and a tobacco user would be $40.96 per month. Rates are higher for older applicants and lower health risks as described online. Pricing is based on input you provide about your medical history but, unlike most other life insurers, does not consider family medical history. Coverage is issued by innovative National Life Group, rated "A" by A.M. Best Company for 2013.
3/11/2013 This page was updated to include a link to the insurance plan that will be used to determine specific "essential health benefits" for insurance that qualified for 2014 federal tax purposes. Also, a link to additional covered benefits required by state law. Non-qualified insurance is likely to continue to be available at a lower cost that does not include these benefits nor qualify for federal tax purposes.
7/9/2012 Indiana requested a waiver from the federal government to expand Medicaid. The state will continue to rely on the current Healthy Indiana Plan until 2015 without immediate plans to expand eligibility. This means that individuals with modest incomes may need to find lower cost commercial coverage alternatives through 2014.
2/1/2012 The Center for Consumer Information and Insurance Oversight, a division of the Center for Medicare and Medicaid Services (CMS) reported that as of June 30, 2011 Anthem Insurance and United HealthCare are the state's largest health insurance providers and as such, earn the right to set the benchmark for the development of the state's essential benefit plans to debut in 2014 under health reform law. Aetna, Cigna and two smaller health insurers left the individual health insurance market in Indiana over the past year due to their inability to meet the 80 percent benefits payment rule.
10/17/2011 Eligibility rules for the Comprehensive Health Insurance Association are changed to require that applicants first apply for the federal Pre-existing Condition Insurance Plan (PCIP) or the Healthy Indiana insurance program. The cost of PCIP is primarily paid by the federal government and therefore saves the state money.
8/4/2011 Five individual insurance plans will no longer be available in Indiana. Aetna, the nation's third-largest health insurance company, is the latest to leave the individual policy market in Indiana in another sign of diminishing competition to benefit consumers who purchase policies through a state insurance exchange. Four other insurance companies are also leaving Indiana including Cigna Corp., Pekin Insurance, American Community Mutual Insurance and Guardian Life Insurance. The five decided to leave the individual market due to difficulties operating profitably under recently enacted health reform laws. The five companies covered more than 20,000 people or about 10 percent of all those who have individual health insurance in the state. Freedom Benefit continues to support Celtic Insurance and UnitedHealthOne, both offering a range of individual health insurance plans for Indiana residents.
2/12/2011 With dozens of health plans choices available online offering a wide range of pricing and benefits, how do you find the best combination of price and benefits? Celtic Insurance realizes that the choices can be overwhelming; the company offers more than 40 possible health plan designs in many parts of the United States. A new feature called "Help Me Choose" lets users easily and quickly select the benefits they value most and narrows the list down to a few of the best choices. No personal information is required other than zip code and date of birth.
2/7/2011 The state's pre-existing condition insurance plan (PCIP) monthly premium rates (per person):
PCIP will cover a broad range of health benefits, including primary and specialty care, hospital care, and prescription drugs. All covered benefits are available for you, beginning on your coverage effective date, even if it’s to treat a pre-existing condition - there are no waiting periods. PCIP applicants who are approved to participate in PCIP can choose from three plan options, with different levels of premiums, calendar year deductibles, prescription deductibles and prescription copays. The HSA Option provides an opportunity to open a Health Savings Account, a tax-exempt account where you can deposit funds for eligible medical expenses. Each of the three PCIP plan options provides preventive care (paid at 100%, with no deductible) when you see an in-network doctor and the doctor indicates preventive diagnosis. Included are annual physicals, flu shots, routine mammograms and cancer screenings. For other care, you will pay a deductible before PCIP pays for your health care and prescriptions. After you pay the deductible, you will pay 20% of medical costs in-network. The maximum you will pay out-of-pocket for covered services in a calendar year is $5,950 in-network/$7,000 out-of-network. There is no lifetime maximum or cap on the amount the plan pays for your care. If you apply for PCIP coverage on the government Web site, you will be billed for the premium once your application is approved. You will need to send in your payment in order for your coverage to be effective. Please do not send in the premium before you are billed. Note that your premium may increase if you age into a higher rate tier, or if PCIP adjusts its premiums to any changes in the commercial market.
1/25/2011 The Indiana Health Benefit Exchange was created by executive order of Governor Mitch Daniels directing the Indiana Family and Social Services Administration and the Department of Insurance (IDOI) to establish and operate the exchange. A board of directors will be selected from representatives of state agencies and the Indiana General Assembly. Committee representatives will be appointed from stakeholder groups.
12/16/2010 Indiana Department of Insurance officials met representatives of 44 other states and numerous employees of the federal Health and Human Services Department in Washington DC this week for a two-day working meeting to discuss the next steps in establish a government-run health insurance exchange under the American Health Benefit Exchange Model Act. Their attendance at this meeting was paid for by a $1 million federal grant awarded by HHS in September to the state for research how to set up an insurance exchange. Two states (Alaska and Minnesota) declined to participate, saying that it was a waste of taxpayer money. Four other states (not identified in press reports) that received federal grants did not send representatives to the meeting. Attendees included representatives of 16 states that are suing the federal government in an attempt to overturn the federal health reform law; specifically the requirement that forces individuals to buy health insurance on the insurance exchange or pay a hefty tax fine.
In its initial federal grant request for the insurance exchange project, the Office of Planning and Budget said that it would: 1) Analyze national data sets including the Current Population Survey, the Behavioral Risk Factor Surveillance System, and the Medical Expenditure Panel Survey. This data will allow the State to construct a picture of the uninsured, project take-up rates for Exchange participants and to estimate the number of participants in grandfathered plans, 2) Develop a governance plan for a possible Exchange and reach a conclusion on the governance for a potential Exchange, and 3) Gain stakeholder input through online surveys and forums.
The meeting reportedly did not address the role of the commercial health insurance exchanges on the implementation of new competing government systems. The model act does not address inter-state insurance exchange proposals nor insurance sales across state lines. Federal officials admitted that they may not be able to provide further guidance until 2012. Meanwhile, most states are motivated to continue to meet requirements to obtain additional funding promised by the federal government for the establishment of insurance exchange by 2014. Freedom Benefits has previously voiced the opinion that the huge amount of money being spent to set up alternate insurance sales system technologies could be better used providing health benefits to the public. We proposed on the Universal Health Insurance blog that adequate commercial insurance sales systems are already in place that could be modified in a public/private partnership to make health insurance more affordable.
5/14/2010 Diabetes Coverage: A new resource to help find health insurance for diabetics in Indiana is now available at Freedom Benefits.
This web site is independently owned and managed by Tony Novak operating under the trademarks "Freedom Benefits", "OnlineAdviser" and "OnlineNavigator". Opinions expressed are the sole responsibility of the author and do not represent the opinion of any other person, company or entity mentioned. Tony Novak is not an agent, broker, producer or navigator for any federal or state health insurance exchange but may provide uncompensated advice, reviews and referrals to these official resources. Novak is compensated as an accountant, adviser, affiliate consultant, marketer, reviewer, endorser, producer, lead generator or referrer to some of the other commercial companies listed on this site. Information is from sources believed to be reliable but cannot be guaranteed.