Delaware Business Insurance Update , by CNC Insurance Associates Inc., Health Co-Ops Growing, 9-14-13

The health insurance exchanges begin signing up people October 1. Many of these Federal and State exchanges do not have enough commercial health insurers to write policies with. Now, enter the health Co-Ops.  These non profit health insurers are jumping in the fray in an effort to compete with the big commercial health insurers. Promoting low overhead and quicker reimbursements to physicians,  these Co-Ops are hoping to attract customers, and win over doctors in order to be viable for the long term.  These new mini health insurers will have the financial backing of the Federal government and will be able to take on sicker patients since they are less risk adverse and profit is not the objective. Quite frankly, I see these entities overtaking commercial health insurers over time because they could potentially lose money and still operate. Or maybe these exchanges will run in the black and create a new model for the future of health insurers. Only time will tell. Until next time be careful out there and know your risks.
By G. Kevin Nemith, President of CNC Insurance Associates Inc.
Serving DE, MD, PA, NJ, and VA.
www.cncinsurance.com
www.bizinsurancetv.org




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