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Thursday April 24th 2014

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‘Industry Updates’ Archives

CalChoice Offers Online Provider Directory

CalChoice Offers Online Provider Directory

CaliforniaChoice announced today the availability of an easy-to-use online provider directory to help consumers enrolled in the private health insurance exchange find and select a primary care physician or specialist who meets their needs. CaliforniaChoice is one of the nation's most successful small group private health insurance exchanges with [...]

Agent Sentenced for Ponzi Scheme Targeting Latino Seniors

Agent Sentenced for Ponzi Scheme Targeting Latino Seniors

LOS ANGELES, Calif. – Michael Zuno Zuniga, 43, of Fullerton, was sentenced to five years in Los Angeles County Jail and ordered to pay $1.2 million in restitution for his participation in a Ponzi scheme targeting LA area seniors. Zuniga was arrested in June of 2012, after the Attorney General's office filed a criminal complaint alleging 57 [...]

Reported 32 Percent of Covered California Enrollees ‘Invincibles’

Reported 32 Percent of Covered California Enrollees ‘Invincibles’

Proponents of the Affordable Care Act have touted the sheer numbers of those enrolling in health plans offered on both the federal and statewide exchanges, which nationally reached more than 7 million and in California reached over 1.2 million — both above stated goals.  But as details of those who enroll become clearer in the coming weeks, [...]

Health Plan Premiums Are Skyrocketing According To New Survey

Health Plan Premiums Are Skyrocketing According To New Survey

Health insurance premiums are showing the sharpest increases perhaps ever according to a survey of brokers who sell coverage in the individual and small group market. Morgan Stanley’s healthcare analysts conducted the proprietary survey of 148 brokers. The April survey shows the largest acceleration in small and individual group rates in any of [...]

Computer Glitches Cause Backlog of 800K Medi-Cal Applications

Computer Glitches Cause Backlog of 800K Medi-Cal Applications

In L.A. County, officials said, more than 200,000 Medi-Cal applications filed between Oct. 1 and Dec. 31 were trapped in the state's computer enrollment system until February. Today, the county's Department of Public Social Services can link up to the state system, but workers still face a daunting backlog of applications — and new software [...]

In California, Asian-Americans flock to Health Coverage

In California, Asian-Americans flock to Health Coverage

While Latino enrollment has lagged in California's insurance marketplace, Asian-Americans have signed up on Covered California in numbers outstripping their representation in the pool of eligible people. According to the latest data from the exchange, the overwhelming majority of Chinese-Americans, Korean-Americans and Vietnamese-Americans [...]

Life Insurance Mystery Develops with Record Breaking Policy

Life Insurance Mystery Develops with Record Breaking Policy

A billionaire from Silicon Valley whose name has not been released has now set a new level in the Guinness Book of World Records, for the most valuable life insurance policy that has ever been purchased. The coverage is for $201 million and it is being provided by 19 different insurers for massive premiums. This life insurance policy will require [...]

Axa Fined $20 Million for Annuity Changes

Axa Fined $20 Million for Annuity Changes

Axa SA (CS)’s U.S. unit was fined $20 million by a New York regulator for making changes to a retirement product without fully informing the watchdog. Axa Equitable changed the investment strategy for some variable annuities sold earlier, limiting potential returns for customers without providing adequate notice to regulators, the New York [...]

Health Workers’ Union Pushes Hospital Cost Control In California

Health Workers’ Union Pushes Hospital Cost Control In California

A California health care workers’ union is collecting signatures to get two measures onto the ballot that it says would lower health care costs. United Health Care Workers West, or SEIU-UHW, wants to cap what hospitals can charge to 25 percent above the actual cost of services. SEIU-UHW says on average, hospitals charge 320 percent above the [...]

Same Health Plan, Different Costs in Los Angeles, San Bernardino counties

Same Health Plan, Different Costs in Los Angeles, San Bernardino counties

While Californians may grumble about high health care premiums, consumers pay less through the Affordable Care Act in the Golden State compared with half the nation, according to a national analysis. Even so, slight variations exist in Los Angeles County, where some pay more than others for the same insurance plan. Data studied by Digital First [...]

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