Daily News Updates - Health Insurance News

New Business for Insurers, Pt.4 – Industry poised and on the ready.

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Of course, more ambitious health insurance plans lie ahead. Congressional leaders have been promoting an even higher standard than Mr. Obama in the form of almost universal health insurance. Their “Healthy Americans Act”, sponsored by Oregon senator Ron Wyden has gained widespread support already. (For more on this congressional initiative, please refer to the article series: “Health Insurance & Capitol Hill”.) They have spent a good part of last year approving a $35 billion expansion bill to increase the number of children covered under SCHIP from 6 million up to 10 million children. After Bush vetoed the bill the first time, they tried to run it through again. Bush turned around and and vetoed it a second time. This next time, everyone is expecting it to finally go through with Mr. Obama.

Analysts are predicting even more to come with SCHIP and Medicaid. This expansion may reach as high as 15 million to help out more of those who have no health insurance. The health insurance industry is already getting involved.

AHIP (America's Health Insurance Plans) is the largest national trade group for health insurance in America. They boast of about 1,300 private health insurers. They currently cover over 200 million Americans. They are actively urging Congress to standardize or, at least, make Medicaid eligibility requirements more uniform between the various states. This would have the effect of broadening the industry’s portfolio.  Molina Health Care is a big player, administrating the benefits of 1.25 million Medicaid enrollees. They provide private Medicaid plans for nine states and are ready to expand business for both SCHIP and Medicaid.  Their chief executive, Mario Molina comments that their company will take whatever the government throws at them.

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November News...