146,000 ENROLLED IN NJ'S INDIVIDUAL HEALTH COVERAGE PROGRAM.TRENTON Trenton, town, Canada Trenton, town (1991 pop. 16,908), SE Ont., Canada, on the Bay of Quinte at the mouth of the Trent River and at the south end of the Trent Canal. Its manufactures include textiles, electronic components, and paper and steel products. , N.J.--(BUSINESS WIRE)--Sept. 21, 1995--New Jersey's Individual Health Coverage (IHC IHC Immunohistochemistry IHC Intermountain Health Care IHC Inner Hair Cells IHC International Harvester Company IHC Internet Healthcare Coalition IHC Indian Head Cent IHC Interactive Health Communication IHC International Hurricane Center ) Program Board announced today that 146,038 individuals were enrolled in the program as of June 30, 1995, a seven percent increase in total enrollments from first quarter 1995. Thirty-five percent of those obtaining coverage during the second quarter were previously uninsured. The Board also reported that the majority of enrollees (89 percent) continue to select coverage through the most comprehensive plans (Plans C, D, E and the HMO HMO health maintenance organization. HMO n. A corporation that is financed by insurance premiums and has member physicians and professional staff who provide curative and preventive medicine within certain financial, Plan), with 45 percent opting for Plan D, an 80 percent/20 percent co-insurance co-insurance Managed care A cost-sharing requirement in many health insurance policies or health plans, in which the insured and insurer share payment of an approved charge/fee for covered services in a specified ratio, after an annual deductible is paid, up to a indemnity plan indemnity plan, n 1. a plan that provides payment to the insured for the cost of dental care but makes no arrangement for providing care itself. 2. . The Board also announced that it has approved the refund TO REFUND. To pay back by the party who has received it, to the party who has paid it, money which ought not to have been paid. 2. On a deficiency of assets, executors and administrators cum testamento annexo, are entitled to have refunded to them legacies plans for 12 of the 21 carriers that enrolled people in the New Jersey Individual Health Coverage (IHC) Program from August 1 to December 31, 1993. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the Board's report, the 12 carriers will refund a total of more than $2 million to policyholders who had individual coverage during that time period. The IHC Program Board was established by the New Jersey Individual Health Insurance Reform Act of 1992 to help make health coverage more accessible for individuals, to implement health insurance reform and to regulate the individual insurance market. Among other things, the Act requires participating carriers to pay out a minimum of 75 cents in benefits for every dollar they receive in premiums. Companies that do not meet that minimum loss ratio in a given calendar year are required to refund premiums to their policyholders until the 75 percent loss ratio is met. Carriers making refunds are Blue Cross/Blue Shield of New Jersey ($348,180), HIP Health Plan of New Jersey ($19,520), MetLife Healthcare ($6,255), Metropolitan Life ($137,669), National Casualty Co. ($206,365), Oxford Health Plans ($7,594), Principal Financial ($1,923), Protective Life ($23,050), Prudential Prudential is the name of two different companies and buildings named after them: Companies:
According to Kevin O'Leary Kevin O'Leary is the name of:
"The refunds, and a continued increase in enrollment, are proof that health insurance reform in New Jersey is working -- especially for those people who prior to reform would have been denied coverage or had limited options," he said. The IHC Program provides health coverage for individuals who do not have access to a group health plan through their employer, who are self-employed, or who are unemployed and cannot afford to continue their coverage under COBRA cobra, name for African and Asian snakes of the family Elapidae that are equipped with inflatable neck hoods. The family also includes the African mambas, the Asian kraits, the New World coral snakes and a large number of Australian snakes. . Under IHC Program regulations, individuals cannot be denied coverage and, once enrolled, can change carriers without losing guaranteed coverage on pre-existing conditions or being subjected to additional waiting periods. Carriers participating in the IHC Program are required to offer standardized standardized pertaining to data that have been submitted to standardization procedures. standardized morbidity rate see morbidity rate. standardized mortality rate see mortality rate. plans. The plans are community rated which means that carriers must offer coverage to everyone at the same rate, regardless of an applicant's age, gender, profession, health status or home or business location. O'Leary noted that the second quarter 1995 enrollment figures do not reflect the full impact of enrollees in the Access Program, the state program which provides subsidies to help low- and moderate-income people so they can afford to purchase health coverage. "We expect to see an impact from Access Program enrollees, who can purchase either Plan D or HMO coverage, during our third quarter report," O'Leary said. Individuals who want to obtain insurance through the IHC Program should contact an insurance agent. They may also call 1-800-838-0935 to obtain a free, comprehensive "Buyers Guide" that explains the program and lists rates and the carriers that offer authorized au·thor·ize tr.v. au·thor·ized, au·thor·iz·ing, au·thor·iz·es 1. To grant authority or power to. 2. To give permission for; sanction: individual coverage plans in New Jersey. Low-income individuals who require financial assistance to purchase health insurance may contact the Access Program at 1-800-729-4265. Individuals enrolled in the IHC Program during 1993 who are owed a refund should receive a notice from their insurance company. Policyholders with questions regarding refunds should contact their insurance company directly. The IHC Program does not have information regarding specific policyholders or the amount of refunds that may be due to them. CONTACT: Cyndi Nicholas at The Marcus Group 609/393-2211 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion