Mega Health Insurance offers quality individual health insurance plans as well as plans for families.  They are committed to offer health insurance to those who need it most.  With that said, many smaller health insurance companies may be at risk with health care reform in the near future.

According to the article “Act Fast, Or Individual Health Insurers Will Flee” by Allison Bell on Life & Health’s website for The National Underwriter, health insurance companies may start to leave the market if regulators do not come up with a feasible medical loss ratio rule transition for individual health insurance.

The new federal Affordable Care Act requires providers of individual health insurance to spend a minimum of 80% of premium revenue on paying medical claims.  Some insurers may seek to leave the market out of fear about the impact that the requirements in 2011 could have on their current book of business and potentially on their livelihood.  To get out of this market by 2011, the insurance company will need to announce its intent to leave by June 2010 in order to give customers at least a 6 month warning.  Insurance companies are going to find it challenging to cut costs enough so quickly in order to meet the 80% so the hope is that regulators will allow transition rules to apply.