By Nidhi Saxena, Project Manager, VUE Software For the last half decade or longer, the smaller senior care providers have been plagued with limited revenue, CMS monitoring rules, MARx automation, and a patchwork of manual and weak automation solutions as the political fate of Medicare Advantage hung in the balance. Predictions of increased participation, a... Read more »by Nidhi Saxena2015
When working adults turn 65, they have a lot of options about their health coverage. According to the Kaiser Family Foundation, currently about 25 percent of Medicare enrollees have opted for Medicare Part C, also known as the Medicare Advantage (MA) plan.
The Affordable Care Act (ACA) states that insurance payers, including both carriers as well as self-funded groups, must create SBC documents for their insureds. This mandate may pose a few questions to Third Party Administrators (TPAs) in the way they provide their service.
On November 17, 2011, the Departments of Health & Human Services, Labor, and the Treasury (the “Departments”) issued an FAQ document that addressed the concern of many health plans about being able to meet the proposed March 23, 2012 deadline for the summary of benefits and coverage (SBC) requirement that is part of the Patient Protection and Affordable Care Act (PPACA).
Our VUE Software representatives attended AHIP’s Institute 2011, held in San Diego June 15-17th. The conference had a broad focus on improving America’s healthcare through intelligent insurance information technology. The conference illuminated many areas of focus for today’s health insurance IT.
Health insurers will be faced by challenges in the near future with the implementation of health care reform. Given the multitude of sanctions in the bill, there will be a big impact on the insurance business model.
The competition in the health insurance industry is growing tighter as the market continues to provide ample options of policies for customers to choose from. Competition will only intensify, especially once the new health insurance mandate takes effect.