Health Insurance Exchanges are expected to regulate the health insurance market. They will make insurance accessible to all, put on display the cheapest plans, foster competition and give more and standardized information about health insurance to the residents.
However, the setting up of health exchanges is not all good news. They come with their own share of problems. Here are the a few loopholes that could be possible roadblocks in health insurance exchanges becoming as effective as they are meant to be.
To begin with, the structure of the Exchange has been loosely defined by the federal guidelines. Though there is a basic premise that the states have to adhere to, the details have been left to the individual states. Now due to the lack of any precedence, states are doubtful about how to go about building an Exchange. They have the option of either administering it themselves, or outsourcing it or even asking the federal government to step in and build the online platform. Though
Blog Posts by Shaun
- Shaun | Healthy Living – Tue, Feb 1, 2011 2:22 PM EST
Health Insurance Exchanges are expected to regulate the health insurance market. They will make insurance accessible to all, put on display the cheapest plans, foster competition and give more and standardized information about health insurance to the residents.Read More »from Health Insurance Exchange: Not the panacea to insurance problems
- Shaun | Healthy Living – Mon, Jan 31, 2011 11:08 AM EST
The Patient Protection and Affordable Care Act make it compulsory for all states to have health insurance Exchange by the year 2014. There are certain guidelines that these Exchanges have to follow to be eligible for federal funding. However, the health reforms have only drafted a basic skeleton. The details have been left to individual states so that they can mold it according to the state specific regulations and the needs of the residents.Read More »from Additional Benefits of the State Health Insurance Exchange
However, there are certain add-ons that would certainly make Exchange a better insurance market place. Though these features are not compulsory according to the federal insurance regulations, most of the Exchanges are expected to incorporate it on their insurance platforms.
One such feature would be some sort of decision support mechanism. The Exchange will be a multi-carrier kiosk which means innumerable number of health plans. The consumer might be spoilt of choices but this unlimited number of choices could also lead to a lot of confusion
Health insurance software, as the name suggests, is any software that facilitates the easier transaction of health plans and maintenance of policy records. These softwares could range from keeping electronic records to tracking every customer and his policy.Read More »from A Look at the Types of Health Insurance Software
Automation softwares are the most basic healthcare softwares. These softwares help in storing all the health insurance data electronically. It could include information on the personal details of the client, policy information, general information about health insurance etc.
There are also softwares that help you access health plans that match your requirements. These 'get quotes' softwares help the residents have a look at the plans that suits their health needs and financial budgets completely. The suitability is matched on the basis of a questionnaire that the customer fills in. This questionnaire includes details such as area, age, gender, smoking status, health history, type of health plan, number of people included in the
One of the major contributions of the Patient Protection and Affordable Care Act is the formation of the state based health insurance Exchange. The Exchange is will serve as a multi-carrier insurance kiosk and health plans and health information will be easily available for the residents.Read More »from Access Exchange For Faster Medical Coverage
The insurance market place will be tightly regulated. Only those companies that sell the cheapest plans on the Exchange, spend a minimum of 80% of their premium dollars on healthcare facilities and have the license to sell insurance in the state will be able to do on the Exchange. The rates and the medical coverage of the health plans will also be under the scanner.
Similarly, there are rules for the consumers as well. Initially the Exchange will be open only to residents looking for individual policies and small businesses wanting to provide coverage to their employees.
There have been speculations that the residents wanting to purchase to health plans have to undergo a waiting period. Many
The basic purpose of a health insurance software is to make insurance shopping a pleasurable and easier experience for the customers. For the agents and health insurance professionals, it should help them serve their clients better and faster.Read More »from A Guide to Healthcare Insurance Software
The basic functions of health insurance software are:
- Simplify insurance claims
- Frees up resources that are then used for serving the clients better
- Develop new products and solutions
There are various insurance softwares that cater to varied insurance needs such as basic record keeping, plan comparisons, claims processing, etc.
All health insurance software, though, have the following basic features:
- They speed up the claim process by reducing the paperwork
- Computerized records ensure that medical billing and insurance errors are almost nil
- Productivity and efficiency is improved that leads to increased customer satisfaction
Some of the basic softwares that an insurance company should incorporate in its web portal are:
- Shaun | Work + Money – Thu, Jan 6, 2011 9:09 AM EST
The Patient Protection and Affordable Care Act provide for the formation of health insurance Exchange or Health Exchange, as they are popularly known in every state. The Exchange will function as an insurance market place various insurance companies operating in the state can display their products and sell them directly to the consumers.Read More »from An Overview of the State Health Insurance Exchange
The health Exchange will also serve as a knowledge center where consumers and brokers can get all the information about the various health plan options available. The mandatory 24*7 call center of the Exchange will facilitate the sell and purchase of medical coverage and will dispel any myths that the consumers and companies may have about health insurance.
Though the Exchange will be expanded to all categories later on, the Exchange will be limited to individuals and small firms looking to purchase group coverage for their employees initially. Similar only those health companies whose products comply with the norms set by the Act will be allowed to
- Shaun | Healthy Living – Tue, Jan 4, 2011 11:40 AM EST
With the implementation of healthcare reforms, tremendous amount of changes are expected to be brought in. These changes would define how the health insurance companies tackle the rising costs and cut in premiums. Of course, the expenditure on the administrative set-up needs to be brought down. One solution that can serve the purpose is the automation of health insurance sales process. It would facilitate 24-hour operations without any additional cost for the extra hours put in the business.Read More »from Importance of Health Insurance Sales Automation Software
To achieve automation in sales procedure of health insurance, healthcare companies need to contract some software development companies who can understand the rigorous requirements of healthcare reforms and technical aspects of health insurance business. Of course, it is not an easy collaboration to make. Healthcare companies have to make sure that the service providers understand the requirements pretty clearly and can envisage the solutions at their ends. At the same time, it is a huge business
- Shaun | Healthy Living – Tue, Dec 14, 2010 12:14 PM EST
The healthcare industry has seen tremendous change and growth in the recent past. With healthcare reforms implemented, the dynamics of the industry has seen volcanic change that drives the need of custom automated solutions for healthcare companies. Talk about insurance companies, hospitals, insurance agents, and government agencies: Everybody needs to leverage its effectiveness through various types of software solutions to cater to the needs of information dissemination, guideline compliance and being up-to-date for the consumers.Read More »from What Are Healthcare Software Solutions And What is Their Need?
Healthcare industry comprising medicine, dentistry, nursing, pharmacy and allied health need automated healthcare software. Going by global healthcare industry's standard classification, the healthcare has been classified including, biotechnology, diagnostic substances, drug delivery, drug manufacturers, hospitals, medical equipment and instruments, diagnostic laboratories, nursing homes and providers of health care plans.
Health IT will see a major boost
- Shaun | Healthy Living – Mon, Nov 29, 2010 11:45 AM EST
Buying family health insurance is never an easy task. Consumers have to make sure that the coverage offered is ample for all the family members enrolled in the plan. At the same time, there is call to curb the prices that would be increasing with every single family member added to the plan. Though group health insurance is the preferred choice for most of the Californians, consumers who are self employed or whose employers don't offer group health insurance plans need to know how to buy a health insurance plan for their families.Read More »from 4 Questions to Ask Before Buying Family Health Insurance California
In this article, we will talk about 4 crucial questions that consumers need to ask before they finalize any particular plan.
Q1. What is the cost of the plan?
Obviously, every consumer would like to know the price of the plan before purchasing it. But to make it more effective, consumers should ask the level of coverage offered against the price that they are willing to pay. A health insurance plan becomes effective only if it offers desired level of
- Shaun | Author Blog Posts – Wed, Nov 24, 2010 9:33 AM EST
There is no lack of options for residents looking to purchase health insurance Virginia. Health insurance companies operating in the state are plentiful and so are the health plans that they offer. And with the health reforms making it mandatory for everyone to own medical policy, the hunt for cheaper and affordable health plans has become more intensive.Read More »from The Inexpensive Way to Get Virginia Health Insurance
1. Group coverage is the cheapest way to access medical insurance. It is cheap, comes with good service, has added benefits and usually no one is denied coverage. If your health plan at work also allows you to accommodate your spouse/family in the coverage, then nothing like it.
2. Quote comparison: With so much competition in the health insurance Virginia market, each carrier is trying to woo the residents by offering the lowest possible price. Comparing quotes will ensure that you do not end up paying more for a plan when there are cheaper options available.
3. An important factor in deciding the rates of the premium is the age