eFLHealthInsurance Uses Pricing Transparency Against Florida Health Insurance Rate Hikes

April 5, 2011 - PRLog -- Almost six million Florida residents lack health insurance due, in part, to limited state oversight of rate increases.  In the present system, consumers may not be protected from excessive increases until complaints draw attention to a problem.  eFLHealthInsurance restores the competitive market balance with transparency on pricing and benefits.

In 2010, only three of the 28 rate increases that the Florida Office of Insurance Regulation approved were below 10 percent, according to Florida CHAIN and other advocacy groups.  These groups maintain that most of last year’s rate hikes would not have passed as “reasonable” if they had been submitted this July when a requirement of the federal Affordable Care Act goes into effect.  This will require justification for increases above 10 percent on individual and small-group market plans.  Insurers will still be allowed to raise rates, but hikes will be subject to more public reporting and scrutiny.

Currently, filed increase proposals can generally be put in place without approval after 30 days.  Policies filed directly with Florida allow for more control over the benefits and rates. Other policies are considered “out-of-state” trust or group association arrangements and are subject to less regulation.  In this scenario, consumers may not be protected unless complaints focus attention on a problem.

With premiums doubling over the last decade, about one in four of the Florida residents under 65 are without a health plan, according to the consumer advocacy group Families USA.  Having the second highest rate of uninsured in the country, Florida has one of the greatest needs for transparency in the health insurance industry.  

eFLHealthInsurance increases market competition and public reporting with readily available transparency on pricing, coverage and out-of-pocket costs on plans from  Florida’s leading insurers.  At http://www.eFLHealthInsurance.com/florida-health-insuranc..., consumers can instantly compare HSA plans, PPO and other network plans and short-term plans for side-by-side analysis of premiums, deductibles, co-insurance and co-pays.

In addition, eFLHealthInsurance extends greater bargaining power to consumers after they have a policy by providing medical bill negotiation for charges in excess of $200.  With a large presence in the marketplace, eFLHealthInsurance shares the level of bargaining power that insurance companies and major employers have to negotiate lower prices from doctors and hospitals than the general public pays.  

eFLHealthInsurance enables consumers to submit claims to its negotiation service at http://www.eflhealthinsurance.com/member-benefits-bill-re....  Consumers keep 70 percent of negotiated reductions and pay nothing in instances when negotiation fails to produce a price reduction.  

With almost six million Florida residents in need of health insurance and limited oversight on rate increases, eFLHealthInsurance offers two tools to increase market competition and protect consumers.  By offering increased market transparency and consumer bargaining power, eFLHealthInsurance aids consumers in finding affordable health plans from financially solid insurers with the resources at http://www.eflhealthinsurance.com/.  Additional personal consultation is available at 1-866-585-7661 from 9 AM through 11 PM Eastern.

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About eFLHealthInsurance:

Specializing in coverage for families, individuals and small businesses, eFLHealthInsurance provides comprehensive information to help consumers manage their health care costs. Confidential consultations may be arranged at http://www.eFLHealthInsurance.com/appointments.htm.

As the leading independent Florida health insurance agency, eFLHealthInsurance provides instant quotes and quick online applications at http://www.eFLHealthInsurance.com/. Immediate access to licensed Florida health insurance professionals is also provided at 1-866-585-7661 from 9 AM through 11 PM Eastern.

For additional news about how Florida health insurance is changing, visit http://www.eFLHealthInsurance.com and read the Florida Health Insurance News Blog at http://www.eFLHealthInsurance.com/flhealthnews.