Health Insurance Blog

Thestreet.com recently rated the financial strength of HMOs from coast-to-coast.  It is important to understand the financial strength of an insurance company that will be providing you benefits as a weak company may provide you with sub-standard care as well as the potential for financial loss.

The following companies were rated as having an A+ financial strength rating by thestreet.com

• Health Care Services Corporation
• Blue Cross of California
• Excellus Health Plan
• Group Hospital & Medical Services
• LA Health Services & Indemnity
• Blue Cross Blue Shield of Arizona
• Arkansas Blue Cross & Blue Shield
• Horizon Health Care of New Jersey
• Blue Cross Blue Shield of KC
• Blue Cross Blue Shield of Rhode Island
• Carefirst BlueChoice
• Independent Health Association
• Anthem Health Plans of Maine
• Blue Cross of Idaho
• HealthKeepers Inc.
• Rochester Area HMO
• Optima Health Plan
• HMO Louisiana

More research about health plans by state.

Blue Cross Blue Shield of Arizona’s (BCBSAZ) is the next health insurance company that we will discuss in this continuing series of posts related to efforts by Blue Cross Blue Shield member health plans to undertake programs designed to increase access to affordable health insurance for the uninsured.

BCBSAZ launched a program called BlueSolutions which enables small businesses with fewer than 50 employees to offer low-premium, high-deductible health coverage to their workers.  BlueSolutions covers a broad range of healthcare services such as urgent care and maternity care, with affordable co-pays for in-network physician visits and generic prescriptions.

The small business’ served by BlueSolutions were previously unable to offer any type of health insurance to their employees.

More information about Arizona health insurance.

JD Power and Associates recently released their 2009 Health Plan Ratings.  The ratings are based on the results of a study which includes responses from more than 33,000 members of private health insurance plans.   The members were surveyed online in December 2008 and January 2009.

More than 130 health plans were included in the study which breaks down the results into 17 distinct regions across the country.  The study itself examined seven key factors:

1. Health coverage and benefits
2. Provider choice
3. Health information and communication
4. Health insurance claims processing
5. Statements
6. Customer service, and
   
7. Approval processes

Some of the Health insurance plans that ranked highest in their respective regions included…Anthem Blue Cross and Blue Shield of Kentucky , BlueCross BlueShield of Arizona, Health Alliance Plan (HAP), Humana, Kaiser Foundation Health Plan, and Medical Mutual of Ohio among others.

Over the next few weeks we will be providing more of the regional results from this study.

Blue Cross and Blue Shield of Arizona (BCBSAZ) has annouced that they are extending their discounts for early enrollment discounts for their portfolio of Medicare Supplement Plans.

BCBSAZ’s discount program extensions increase the duration of the Medicare Supplement discounts from 5 to 10 years and raises the eligibilty age from 65 1/2 to 67 years old.  For example:

If an eligible senior enrolls in a BCBSAZ Medicare Supplement Plan at age 65 they will receive a 32% discount on the first year of premiums, a 28.8% discount on the first year of premiums for enrollment at age 66, and a 25.6% discount applicable to the first year of premiums for enrollment at age 67.

In addition, the discount amount decreases by 3.2% each year until the person reaches age 75 so long as the person is continuously enrolled in the plan.

The savings calculations are a bit confusing, but the net-net of it is,  seniors tend to stay with their health plans for a long period of time, so BCBSAZ is offering an innovative incentive to get them enrolled in their Medicare Supplement plans from the beginning of Medicare eligibility.

Jill Brown, the Managing editor of AIS Health.com, wrote a report about how Blue Cross Blue Shield (BCBS) member health insurance plans have been launching new individual health insurance products that are in line with new state mandates that are designed to make individual health insurance more affordable.  The underlying theme is that the weak economy has and will continue to spur sales of individual health plans, as many people lose employer-sponsored health coverage.

Specific examples of BCBS plans launching new health plans or making adjustments to  existing health plans include:

1. Blue Cross Blue Shield of Arizona who recently launched (Sept.) a suite of 5 new individual health plans with premiums as much as 40% lower than their existing individual health insurance offerings, while still offering up to $5 million in lifetime benefits.
2. Wellpoint is expanding their affordable “SmartSense” line of indivudual health insurance plans to Colorado in November, and they plan to add even more states over the next few quarters.  The SmartSense product line was piloted in California and Georgia and now makes up more than 50% of individual health insurance sales in California.
3. Horizon BCBS of New Jersey is making adjustments to their individual health plan pricing by taking advantage of a new law that allows them to use a applicants age in their rate calculations which should make the plans more affordable for younger individuals.

As alluded to in this report, many health insurance carriers accross the country, not just BCBS member health plans, will be offering new health plans for individuals, and making their health insurance rates more affordable.  It is a great time to compare rates and see what is available in your state.

Last week, Blue Cross and Blue Shield of Arizona (BCBSAZ) announced the launch of 5 new Arizona individual health insurance plans .  The new plans deliver a wide range of co-insurance and deductible levels and can save customers as much as 40% from previous health insurance options.

The new individual health insurance plans offered by BCBSAZ are:

BlueOptimum - A PPO that features co-pays for many services and the broadest level of health coverage among the new plans introduced last week.

BlueValue - A PPO that features a mix of co-pay and co-insurance with lower monthly premiums than Blue Optimum.

BlueEssential - An ultra affordable PPO with basic coverage and a $1,000 cap on preventive care.

BluePortfolio - A high deductible health plan (PPO) that can be paired with a Health Savings Account (HSA).

BlueSecure and BlueSecure Plus -HMO plans.