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Bestow Gives Utah Residents Early Access to On-Demand Life Insurance

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Founded by two BYU graduates, Utah among the first states granted pre-launch access to fully-digital life insurance solution

DALLAS (PRWEB) November 30, 2017

Bestow Inc., the company behind a revolutionary new approach to life insurance, today announced its license in the state of Utah to launch its comprehensive, full-stack platform. For the first time, Bestow’s solution will be available to the public, giving Utah residents access to a life insurance platform that allows them to quickly learn about options and apply for and purchase coverage instantly and without a medical exam.

Leveraging applied intelligence and algorithmic underwriting, Bestow redefines the way millions of consumers research, buy, and manage life insurance. Using data to calculate risk, Bestow removes the need for a medical exam and streamlines the entire process into a matter of minutes. Customers simply come to the website, apply and choose between term life insurance options that have been newly designed to prioritize speed to purchase and affordability. Plans start under $3 per month for a two-year subscription and under $9 per month for a 20 year subscription, with coverage up to $500,000. Customers can cancel or change their plan any time without penalty.

At launch, Bestow is making it even easier by offering to pay for the first two months of coverage. The Join Bestow trial gives customers who qualify full coverage for the first two months of their Bestow subscription, letting them experience the ease and convenience of a Bestow plan that works for their lives and financial future. Customers must register on Bestow’s website prior to its launch to be eligible for the program. Details can be found at http://www.hellobestow.com.

“For many, the legacy life insurance model is a time consuming and often confusing process. We’ve developed a method that combines machine learning, data, and technology to easily and instantly determine top-rated, affordable coverage,” said Melbourne O’Banion, co-founder and CEO of Bestow. “From beginning to end, we’ve designed the experience and products to be easy to understand, fast to obtain, and a quality, affordable solution for millions of families.”

The Utah launch builds on the company’s early access roll-out in states across the South, and follows a series of recent news, including a seed round financing, closing $2.5 million led by New Enterprise Associates (NEA), as well as a partnership announcement with Munich American Reassurance Company and North American Company for Life and Health Insurance®. Bestow was founded by entrepreneurs and Brigham Young University graduates Melbourne O’Banion and Jonathan Abelmann, to launch a consumer-first life insurance solution driven by technology.

“Utah has an amazing spirit of innovation, founded by pioneers blazing new trails,” said Jonathan Abelmann, co-founder and President of Bestow. “Our time at BYU, in the heart of the Silicon Slopes, fostered our entrepreneurial energy. Now, we’re incredibly proud to give back to that community with Bestow, giving Utah families the financial freedom and confidence to live better.”

Bestow will open for enrollment nationally at this year’s end. For more information about Bestow, please visit http://www.hellobestow.com to learn more.

About Bestow:
Bestow is revolutionizing the approach to life insurance, helping this generation protect its financial future. Bestow is the first comprehensive full stack digital life insurance solution. The company provides simple products, algorithmic underwriting, and data-driven financial solutions in a bundled, streamlined user experience. For more information about Bestow, please visit https://www.hellobestow.com/. Reported by PRWeb 21 hours ago.

One City's Response to Rising Health-Insurance Premiums

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The college town of Charlottesville, Va., is fast becoming the exemplar for millions of people without federal subsidies whose health-insurance premiums will rise sharply next year. Reported by Wall Street Journal 17 hours ago.

Health Insurers Are Still Skimping On Mental Health Coverage

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Behavioral care is four times more likely to be out-of-network than medical or surgical care, a nationwide study shows. That can make treatment unaffordable even for people who have health insurance. Reported by NPR 19 hours ago.

CVS, Aetna spike on report that they're very close to finalizing a deal (CVS, AET)

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CVS, Aetna spike on report that they're very close to finalizing a deal (CVS, AET) CVS and Aetna shares jumped in trading on Thursday after Dow Jones reported that both companies were nearing a deal. 

The retail pharmacy giant was reported in late October to be in talks to buy the health-insurance giant in a deal worth about $66 billion.  

According to the report, CVS is nearing a majority cash purchase of Aetna of between $200 and $205 a share. 

CVS shares gained as much as 5%, while Aetna rose 2%. 

Aetna previously agreed to buy rival insurer Humana for $34 billion, but that deal was blocked by the Department of Justice. A judge ruled in favor of the DOJ in January, saying that the combination of the two companies would have been anticompetitive.

CVS's move into healthcare would be a step towards fending off competition from Amazon, which has been speculated to be interested in the industry.

More to come ... 

Join the conversation about this story »

NOW WATCH: THE BOTTOM LINE: Huge market warnings, Keurig's political stand, and the future of the Fed Reported by Business Insider 19 hours ago.

John McCain Is A "Yes" On GOP Tax Reform Bill

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John McCain Is A Yes On GOP Tax Reform Bill Arizona Republican Senator John McCain will not make us all wait this time.

In a statement just released, *he confirms he will vote 'yes' for the GOP Tax Reform Billl...*



 U.S. Senator John McCain (R-AZ) released the following statement today in support of the Senate tax reform bill:

 

*“After careful thought and consideration, I have decided to support the Senate tax reform bill. I believe this legislation, though far from perfect, would enhance American competitiveness, boost the economy, and provide long overdue tax relief for middle class families.*

 

“For too long, hardworking people in Arizona and around the country have not seen a raise in their paychecks. This bill would directly benefit all Americans, allowing them to keep a higher percentage of what they earn. According to the non-partisan Joint Committee on Taxation, every income bracket would see tax relief under this bill. The child tax credit would be doubled to $2,000 per child and the tax code would be substantially simplified.

 

*“By lowering our high corporate tax rate to 20 percent, the bill would make our markets far more attractive for investment.* It would also encourage American companies to repatriate assets now held overseas. Small businesses, which are vitally important to the dynamism of our economy, would also receive essential tax relief. Combined, these commonsense steps would promote economic growth and stimulate job creation here at home. 

 

“For months, I have called for a return to regular order, and I am pleased that this important bill was considered through the normal legislative processes, with several hearings and a thorough mark-up in the Senate Finance Committee during which more than 350 amendments were filed and 69 received a vote. 

 

“I have also argued that health care reform, which is important both to the well-being of our citizens and to the vitality of our economy, should proceed by regular order. This bill does not change that. *As a matter of principle, I’ve always supported individual liberty and believe the federal government should not penalize Americans who cannot afford to purchase expensive health insurance. *By repealing the individual mandate, this bill would eliminate an onerous tax that especially harms those from low-income brackets. In my home state of Arizona, 80 percent of people who currently pay the individual mandate penalty earn less than $50,000 per year.

 

*“Finally, I take seriously the concerns some of my Senate colleagues have raised about the impact of this bill on the deficit. However, it’s clear this bill’s net effect on our economy would be positive. This is not a perfect bill, but it is one that would deliver much-needed reform to our tax code, grow the economy, and help Americans keep more of their hard-earned money.” *



1 down, *7 more 'questionables' to go...*

Collins, Corker, McCain, Johnson, Lankford, Flake, Moran, Murkowski. Reported by Zero Hedge 19 hours ago.

Lawsuit challenges Illinois abortion-coverage expansion

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SPRINGFIELD, Ill. (AP) — More than a dozen groups and lawmakers who oppose abortion have filed a lawsuit challenging a new law providing taxpayer-funded abortions. The Thomas More Society filed the action Thursday in Sangamon County Circuit Court. It says including abortion among procedures covered by state employee health insurance and Medicaid beginning Jan. 1 […] Reported by Seattle Times 15 hours ago.

Governors urge Congress to act on children’s health program

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BOSTON (AP) — Governors are appealing to congressional leaders to restore funding for a federal program that provides health coverage for millions of low-income children. The Children’s Health Insurance Program, or CHIP, expired Sept. 30. Congress has yet to reauthorize it, despite apparent support in both the House and Senate. In a letter sent Wednesday […] Reported by Seattle Times 14 hours ago.

States Sound Warning That Kids' Health Insurance Is At Risk

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Funding for the Children's Health Insurance Program expired in September. Millions of children could lose coverage, unless Congress acts soon to restore the money to keep the program running. Reported by NPR 12 hours ago.

Faced with uncertainty from D.C., WNY health insurers target local experience

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With the new health insurance year set to begin in weeks, local plans should roll out without much interruption - despite efforts by the Trump administration to undermine the Affordable Care Act. Reported by bizjournals 5 hours ago.

Health care fallout: Fate of 8M low-income children in limbo

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MINNEAPOLIS (AP) — TC Bell knows what life is like without health insurance after growing up with a mother who cobbled together care from a public health clinic, emergency room visits and off-the-books visits to a doctor they knew.That... Reported by New Zealand Herald 4 hours ago.

Funds Running Out to Treat 8 Million Children

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The collateral damage from Congress’ struggle to repeal the Affordable Care Act could include a program that covers over 8 million low-income children. States are running out of money to fund the Children’s Health Insurance Program. (Dec. 1)

 
 
 
 
 
 
  Reported by USATODAY.com 4 hours ago.

Prelate criticizes Senate tax proposal and potential repeal of health insurance mandate (USCCB)

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Reported by Catholic Culture 31 minutes ago.

Healthcare Fallout: Fate of 8M Low-Income Children in Limbo

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The Children's Health Insurance Program (CHIP) that provides low-cost coverage to children in families that earn too much to qualify for Medicaid has become caught up in a political stalemate over how to fund it. Reported by Newsmax 21 hours ago.

Health insurance for 18,000 Central New York kids in jeopardy

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Reported by syracuse.com 22 hours ago.

Poor Children Face Losing Healthcare as Congress Bides Its Time

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States from Oregon to Massachusetts are scrambling to help millions of poor families whose children could lose coverage if Congress fails to reinstate a health insurance program that was approved two decades ago with bipartisan support.The Children's Health Insurance... Reported by Newsmax 20 hours ago.

DBJ's best of the week for Nov. 25-Dec. 1: Odor-law stink, DIY insurance and more

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Here's our recap of our best online-only exclusives and stories of the week, available only to paid DBJ subscribers. (Not yet a subscriber? Click here to join us.) This week, we begin with Cathy Proctor's report on an oil and gas company crying foul over an odor ordinance in a Colorado town. Also, Ed Sealover looks at why more employers Colorado are looking at self-funding their health insurance, and Caitlin Hendee rounds up big-ticket real estate deals. Also below, under "National News," you'll… Reported by bizjournals 19 hours ago.

Retiring: A Radical Move: Giving Up Income to Get Health Insurance

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Anne Cornwell had bad news: Health insurance costs for her and her husband this year would be hugely unaffordable. But she found that taking a big pay cut would qualify them for subsidies. Reported by NYTimes.com 17 hours ago.

Health care fallout: Fate of 8M low-income children in limbo

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MINNEAPOLIS (AP) — TC Bell knows what life is like without health insurance after growing up with a mother who cobbled together care from a public health clinic, emergency room visits and off-the-books visits to a doctor they knew. That memory makes Bell, of Denver, grateful for the coverage his two daughters have now under the Children's Health Insurance Program — and concerned about its uncertain future in Congress. "There's an incredible security that I have with CHIP," said Bell, 30, who has gone back to community college to reboot his life after working a series of low-paying jobs. "If my daughters get sick or seriously injured, we can take them to their doctor, rather than when I was growing and had to go through the emergency room. Reported by SeattlePI.com 18 hours ago.

Complimentary Webinar to Showcase ClearHealth Quality Institute’s Accreditation Programs

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CHQI Developing Standards for Telemedicine, Mental Health Parity and Health Insurance Appeals

Annapolis, MD (PRWEB) December 01, 2017

ClearHealth Quality Institute (CHQI) announces the final webinar of its Fall 2017 Educational Series, entitled CHQI Overview: Improving Quality and Accountability in Health Care Accreditation on December 6, from 12 to 1 p.m. EST. The webinar will feature CHQI leaders and provide an overview of CHQI’s vision to transform health care accreditation and compliance monitoring for health insurers, health benefits administrators, and providers.

To register for this complimentary webinar, click here.

“CHQI is developing several important quality-benchmarking initiatives to promote better clinical outcomes for providers, health plans, and medical management organizations,” notes Garry Carneal, JD, MA, CHQI’s founder. “The webinar will cover several key public policy and business issues associated with telemedicine, mental health parity, and health insurance appeals in addition to providing the latest information on CHQI’s accreditation programs.”

Carneal will moderate the webinar, which will include perspectives from CHQI’s president, Michael Reisman, JD, MA, and Doug Clarke, M.Ed, CHQI’s executive director for accreditation programs.

“Telemedicine covers the entire spectrum of health care from cardiovascular to psychiatric services,” adds Clarke. “CHQI’s approach to developing telemedicine standards reflects the unique modalities of care, recognizing that a ‘one size fits all’ approach does not work. CHQI’s Telemedicine Accreditation Program, endorsed by the American Telemedicine Association, will promote best practices.”

“Access to effective mental health and addiction treatment has never been more important,” states Reisman. “Parity laws requiring health insurers to cover these illnesses the same way they cover physical health care have been on the books for years, but compliance has been problematic. With robust standards developed by a diverse range of health insurance, provider, and consumer representatives, CHQI’s Mental Health Parity Accreditation Program will benefit consumers as well as insurers.” Reisman adds that C-HQI’s Health Insurance Appeals Accreditation Program will increase due process and transparency, with the ultimate public policy goal of reforming the utilization management system.

For more information about CHQI’s webinar, Improving Quality and Accountability in Health Care Accreditation, which will take place on December 6 from 12 p.m. to 1 p.m. EST, click here. To listen to CHQI’s previous webinars focusing on the Telemedicine and Mental Health Accreditation Programs, click here.

For more information regarding CHQI accreditation programs or educational and training workshops, contact Rob Mikes via email at info(at)CHQI(dot)com.

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About ClearHealth Quality Institute™ (CHQI) (http://www.CHQI.com)

ClearHealth Quality Institute’s (CHQI) mission is to promote quality-based practices for health plans, providers and other stakeholders across the United States and its territories. Our accreditation and certification programs help assess, track and report on trends to enhance key insurance and provider outcomes. CHQI also offers educational programs, publishes issue briefs and underwrites research to raise awareness of patient safety issues and promote best practices. The organization is governed by an independent board and committee system, which is open to a wide range of volunteers to ensure transparency and accountability. CHQI provides resources to serve patients, providers, payers, government agencies, and other stakeholder groups. To learn more about CHQI, please contact us at (410) 696-7634 or info(at)CHQI(dot)com. Reported by PRWeb 18 hours ago.

Hartford InsurTech Hub Announces Startup Cohort Set to Transform U.S. Insurance Capital into New InsurTech Giant

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11 Talented Teams Selected for Inaugural InsurTech Acceleration Program in Hartford

HARTFORD, Conn. (PRWEB) December 01, 2017

Hartford InsurTech Hub, powered by Startupbootcamp, unveils the 2018 cohort of startups for its inaugural acceleration program. Artificial Intelligence (AI), Big Data Analytics and Natural Language Processing combined with Cyber Security, Smart Home and Health Insurance, to name but a few, display the diverse range of technologies and insurance types that are exhibited by the group of 11 companies that have been selected.

The U.S. insurance market remains the largest globally and offers more growth potential than any other. Nowadays, in order to stay on top, insurers must embrace InsurTechs within their business and be able to adapt to a rapidly changing business environment, with consumers and agents wanting more and technologies becoming more pervasive. Fortunately, the U.S. continues to be the frontrunner in the InsurTech market with over 40% of InsurTech startups originating there, though the gap between the U.S. and European markets looks to be narrowing slightly. With the U.S. being the best place to raise capital and build ‘Unicorns’, programs, such as Hartford InsurTech Hub, basing themselves in the country means that the U.S.’ hold on the InsurTech market is secure.

The 11 successful teams, selected from an initial aggregation of 1,000 applications, will relocate to Hartford ready for the start of the program in January, and will remain for its three-month duration. For the startups themselves, joining the program means they will receive the support, resources, and industry and investor connections they need to help grow their businesses. With support from Startupbootcamp, the teams will be provided with access to an extensive range of partners, mentors, and investors from across the accelerator’s global network.

The 11 startups who will join the first Hartford InsurTech Hub acceleration program and work closely with Hartford InsurTech Hub’s insurance corporate partners: Cigna, The Hartford, Travelers, USAA, White Mountains and CTNext are:· Aureus Analytics, from India, is working to improve customer retention, loyalty, and lifetime value through the use of Artificial Intelligence & Machine Learning.
· Boundlss, from Australia, has developed an analytics platform that analyzes data from wearable devices and apps to provide powerful performance insights based on Artificial Intelligence.
· Hindsait, from the United States, applies artificial intelligence to large healthcare datasets, helping payers and providers improve patient health at a much lower cost.
· Pentation Analytics, from India, provides state-of-the art analytics applications for the Insurance Industry.
· Rozie AI, from the United States, guides customer engagement to deliver real-time and historical visibility into social communication.
· SecureHome, from the United States, leverages an enterprise grade intrusion detection system, behavior analytics, and machine learning to guard against smart home threats.
· StaTwig, from Singapore, provides real-time, tamper-proof, end-to-end tracking that identifies problems and inefficiencies in any supply chain.
· Truedime, from the United States, is a P2P health insurance platform for international students.
· Ubios, from Canada, leverages Big Data, Internet of Things and motion detection technology to help landlords prevent water damage, save energy, and save on insurance.
· ViewSpection, from the United States, provides a DIY loss control platform that provides inspections and connections to the carrier directly from the policyholder.
· Yaxa, from the United States, focuses on building behavioral models by learning the user’s own access patterns continuously, and comparing them in real-time.

Sabine VanderLinden, CEO at Startupbootcamp InsurTech, expresses her excitement: “The program will deliver a new level of opportunity and huge prospects for Hartford. The insurance capital of the U.S. has seen very little change until recently, whereas the rise of InsurTech in the last few years has impacted insurers in the European markets and some adjacent industries. Hosting 11 of the most talented InsurTech startups will help foster insurance innovation and provide the perfect platform to trigger a surge of entrepreneurial activity in Hartford.”

After five months of scouting over 4,000 startups from 96 different countries (and 850 cities), the announcement comes after 23 talented InsurTech startups met in Hartford this week for three intensive Selection Days with Hartford InsurTech Hub’s corporate partners, mentors, and investors. Startupbootcamp InsurTech has selected the 11 most accomplished and relevant insurance technology startups that will enter its cohort beginning in January 2018.

As many of us are starting to unwind ready for the holiday season and the start of the new year, we at Hartford InsurTech Hub are eagerly awaiting the next phase of the program. Stay up to date with Hartford InsurTech Hub by following on Twitter, LinkedIn, and Facebook

About Hartford InsurTech Hub

The InsurTech Accelerator, powered by Startupbootcamp, is the first component of Hartford InsurTech Hub, an initiative established in 2017 by Hartford insurance companies, the City of Hartford, and CTNext. Focused on addressing the need for attracting new technologies and talent in insurance and technology into the City of Hartford and the local ecosystem, the program partners include Cigna, The Hartford, Travelers, CTNext, USAA and White Mountains. It will stretch its reach to other cities in Connecticut to create a thriving spirit of collaboration and innovation between its partners, entrepreneurs and investors, while leveraging Startupbootcamp’s global network of capabilities and a structured delivery approach. For more information, visit: http://hartfordinsurtechhub.com/

Hartford InsurTech Hub is part of Startupbootcamp, the award-winning global network of industry-focused accelerator programs, and home of Startupbootcamp InsurTech London. With 20+ programs in Europe, Asia, North & South America, MENA & Africa, selected startups gain access to the most relevant mentors, partners, and investors in their industry. For more information visit: http://www.startupbootcamp.org

Press contact:

Startupbootcamp InsurTech
Katherine Dvorkin / Daniel Keir
Katherine.dvorkin@startupbootcamp.org /
Daniel.keir@startupbootcamp.org Reported by PRWeb 16 hours ago.
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