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Consumer Insurance Issues5/14/2010 Diabetes Coverage: A new resource to help find health insurance for diabetics in Massachusetts is now available at Freedom Benefits. 4/20/2010 Six health insurance companies that were unable to offer policies that meets the state's requirements have simply not issued rates for the month of April. This effectively stopped applicants from obtaining coverage. The companies appear now to be in a bind as the insurance commissioner threatened to levy significant fines if coverage is not offered to residents who wish to apply. Earlier in the month insurers lost a legal bid to offer higher premium rates than the state will allow. Our primary concern is that in other similar situations in other states the insurance companies simply stopped doing business in the state until the legislative restrictions are addressed. Maine residents currently have with fewer insurance choices than the residents in most other states. This latest move could further reduce consumer choices. Until this governmental battle is resolved, we suggest the "Value Access Guarantee" insured by Companion Life Insurance Company or Core Health Insurance insured by United Sates Fire Insurance Company as the best available limited benefit insurance that is available on a guaranteed issue basis to Maine residents. Since this is limited benefit coverage, we suggest increasing the overall level of insurance by combining these insurance with one or more of the supplemental policies listed above. Supplemental polices pay defined cash benefits in addition to other coverage. 4/8/2010 As of today, only one individual health insurance company offers individual major medical insurance coverage on the Massachusetts health insurance exchange under the authorized premium rates. Some other insurance carriers have temporarily stopped issuing new policies because the state has not approved rates that are sufficiently higher than the claims that are expected to be paid. CeltiCare of Massachusetts is also the only company that has not joined in a lawsuit against the Commonwealth for blocking rate increases. 4/1/2010 Massachusetts residents face more significant obstacles finding affordable health insurance than residents elsewhere in the U.S. following failed attempts by 2006 state legislation to provide universal health insurance. Those concerns are building as health insurance premiums remain unaffordable and thousands of additional Massachusetts residents previously excluded from the law must not obtain coverage. Meanwhile, total health care expenditures soared by about 50% and medical provider shortages now affect quality of care even for those who can afford the insurance and out-of-pocket expenses. Insurance companies have avoided this state's stagnant and over-regulated market. Insurance companies are expected to announce additional pull-backs this month. Ironically, the state legislature may respond to this failed government regulation by passing even more restrictive legislation that could entirely convert the state insurance exchange into a single-payer system that would further accelerate their consumer problems. Unfortunately we see no relief for consumers under the state's current political leadership. Eventually the state must return to a less regulated health care market with low cost options similar to those available through other states' health insurance exchange. 12/23/2009 Massachusetts students fear higher health insurance costs |
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The content on this Web page was last updated by consumer finance writer Tony Novak on 5/12/2010. Comments, feedback, questions and corrections are welcome to help keep content relevant and up-to-date. Contact the author directly by e-mail, on Facebook, Twitter or the contact information included on his Web site. 
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