AnnualMedicalReport.com

The U.S. Department of Health and Human Services, under the authority of President Barack Obama, unveiled an innovative new online tool to help consumers take control of their health care by connecting them to new information and resources that will help them access quality, affordable health care coverage.  As stipulated by the Affordable Care Act, HealthCare.gov is the first website to provide consumers with both public and private health coverage options tailored specifically for their needs in a single, easy-to-use tool.

“HealthCare.gov helps consumers take control of their health care and make the choices that are right for them, by putting the power of information at their fingertips,” said HHS Secretary Kathleen Sebelius.  “For too long, the insurance market has been confusing and hard to navigate.  HealthCare.gov makes it easy for consumers and small businesses to compare health insurance plans in both the public and the private sector and find other important health care information.”

HealthCare.gov is the first central database of health coverage options, combining information about public programs, from Medicare to the new Pre-Existing Conditions Insurance Plan, with information from more than 1,000 private insurance plans. Consumers can receive information about options specific to their life situation and local community. In addition, the website will be a one-stop-shop for information about the implementation of the Affordable Care Act as well as other health care resources. The website will connect consumers to quality rankings for local health care providers as well as preventive services. (more…)

The United States Department of Health and Human Services Secretary Kathleen Sebelius announced a new “Pre-Existing Condition Insurance Plan” (PCIP) under the Affordable Care Act Program to provide temporary coverage for Americans without health insurance due to pre-existing conditions now through 2014, when the new insurance exchanges are established.

The Pre-Existing Condition Insurance Plan (PCIP), which will be administered either by a state or by the Department of Health and Human Services, will provide a new health coverage option for Americans who have been uninsured for at least six months, have been unable to get health coverage because of a health condition, and are a U.S. citizen or are residing in the United States legally.

Created under the Affordable Care Act, the Pre-Existing Condition Insurance Plan is a transitional program until 2014, when insurers will be banned from discriminating against adults with pre-existing conditions, and individuals and small businesses will have access to more affordable private insurance choices through new competitive Exchanges. In 2014, Members of Congress will also purchase their insurance through Exchanges.

“For too long, Americans with pre-existing conditions have been locked out of our health insurance market,” said Secretary Kathleen Sebelius.  “Today, the Pre-Existing Condition Insurance Plan gives them a new option – the same insurance coverage as a healthy individual if they’ve been uninsured for at least six months because of a medical condition.  This program will provide people the help they need as the nation transitions to a more competitive and fair market place in 2014.” (more…)

During the national debate about whether to overhaul the health insurance market, people who were buying coverage on their own were experiencing sharp increases in the cost of their policies, according to a survey released by the Kaiser Family Foundation, a nonprofit health policy research group, in June 2010.

Among those surveyed, individuals reported that they were faced with premium increases averaging 20 percent when they last sought to renew their coverage, reported the Kaiser Family Foundation, which conducted the survey in March and early April.

As reported by the American Medical Association, the Kaiser Family Foundation report, “Survey of People Who Purchase Their Own Insurance,” issued June 21, found that 77% of those who buy individual policies were told that their insurance premiums would increase by a proposed average of 20%.  The remaining 23% were mostly individuals who had been with their plans one year or less.

Sixty-one percent of individuals surveyed stayed with their plans and paid an average 18% more than they had previously. Another 16% switched to cheaper plans, paying an average of 3% less — but 49% of those who switched ended up with fewer benefits. The survey said the average individual rate was $3,606 per year, while the average family rate was $7,102. (more…)

The Patient Protection and Affordable Care Act, Bill Number H.R. 3590, prohibits insurance companies from using pre-existing conditions to underwrite, reject, or rescind health insurance policies.  Yet, H.R. 3590 itself lacks an enforcement mechanism to deter and punish health insurance corporations for violations of the prohition on pre-existing condition exclusions and other discrimination.

Any health insurance corporation that violates the prohition on pre-existing condition exclusions and other discrimination in Section 2704 of the Patient Protection and Affordable Care Act, is subject to “civil money penalties” (e.g., fines) under 42 U.S.C. § 300gg–22(b)(2)(C)(i) of the Public Health Service Act (42 U.S.C. §§ 300gg et seq.), which stipulates that the maximum amount of financial penalty imposed under for violations is $100 for each day for each individual with respect to which such a failure occurs. (Notably, there are no criminal penalties and the statute enables health insurers to obtain administrative and judicial review before any civil money penalties can actually be collected.) (more…)

On March 23, 2010 in Washington, D.C. at The White House, President Barack Obama signed the historic Health Insurance Reform Law Overhaul.

President Barack Obama signed into law a nearly $1 trillion health care overhaul that ranks among the biggest changes ever devised by Washington and will reshape the way virtually every American receives and pays for treatment. It will rework fully one-sixth of the U.S. economy and for the first time cement insurance coverage as the right of every U.S. citizen.

It was a day of history for the nation — and sweet vindication for President Barack Obama. His grin seemed wider than any in recent memory. After more than a year of arguing, struggling and dealing, President Barack Obama signed into law a nearly $1 trillion health care overhaul that ranks among the biggest changes ever devised by Washington and will reshape the way virtually every American receives and pays for treatment. It will rework fully one-sixth of the U.S. economy and for the first time cement insurance coverage as the right of every U.S. citizen.

At the White House, jubilation was in the air on Tuesday. Democratic lawmakers and advocates, crowded into the East Room for the signing ceremony, hooted and hollered at nearly every Obama sentence. They snapped photos of the president — and themselves. Vice President Joe Biden was caught whispering a profanity as he exclaimed to the president what a “big f***’ing deal” it was.

Read the full text of the Protection and Affordable Care Act – Bill Number H.R. 3590 below. (more…)

The Federal laws FCRA and FACTA, which govern the credit bureaus Experian, Equifax, and TransUnion, also regulate a whole universe of other corporations known as “nationwide specialty consumer reporting agencies” and include such companies as: ChoicePoint, Acxiom, CBC Innovis, PayChex, the Insurance Services Office (ISO), Tenant Data Services, LexisNexis, Retail Equation, Central Credit, TeleTrack, the Medical Information Bureau Inc. (MIB), Ingenix Inc., and Milliman Inc.  In fact, just as financial companies rely on “credit reports” to establish credit for customers, insurance, real estate, banking, and retail companies also utilize credit report files to assess consumers and charge higher prices.

For example, health and life insurance corporations rely on some of these nationwide consumer specialty reporting agencies to provide powerful technologies for evaluating and pricing individual insurance applicants: personal “medical report” files.  The Washington Post says that these medical reports, which are “like credit reports for your health records,” have been created for more than 200 million Americans.

Here is a comprehensive list of websites, telephone numbers, and mailing addresses for the top 25 most frequently requested annual consumer reports available to you from the nationwide consumer reporting agencies under the Fair Credit Reporting Act (FCRA).  Through these reports, these consumer reporting agencies extensively monitor your personal medical, insurance, employment, rental, and banking history.  Federal law entitles all consumers to check and verify each report, once every year because they significantly impact your options and costs of credit.

As The Consumerist advises, “Be sure to check them out and correct any errors, before a crisis hits.” (more…)

“When Michael Miano, 61, of Abingdon, Va., first sought to buy individual insurance in 2003 after leaving a federal regulatory position and exhausting his COBRA benefits, he was distressed to learn that he was uninsurable.” I’ve been diagnosed with diabetes but I’m perfectly healthy,” he says. “I follow a strict diet. I’m not overweight and I walk 20 miles a week. I check my glucose levels regularly. I take oral medication, and my diabetes is completely under control.”

His problems result from the practice called medical underwriting. It’s illegal nationwide for insurers to discriminate against people in group plans on the basis of their health. But in all but a handful of states, medical underwriting for individual plans is allowed.”

Insurance is an important part of financial planning — but understanding insurance and buying the right product can be tricky. From whole to term life, riders to convertibility clauses, how do you make sense of all the choices? Most people rely on the expertise of their insurance advisor, broker, or sales representative to help them make the right decision.

Yet, for some people, insurance representatives have developed a bad reputation, and many people do not trust the “recommendations” they receive.

(more…)