omip

OMIP Offers Regence BlueCross BlueShield $2.1 Million Agreement

Regence would have to deduct the cost of reconciling the books for its last-minute request to be paid for claims as old as 2010 to get money from a federal high-risk account that dissolves at the end of the year.

The Oregon Medical Insurance Pool has agreed to pay $2.1 million to Regence BlueCross BlueShield to resolve outstanding claims the insurance company says it’s owed for administering the Federal Medical Insurance Pool.

OMIP Sets Reinsurance Tax for 2014 at About $46 Per Person

The high-risk pool is charged with operating a state reinsurance program that is intended to spread the risk and soften the blow to insurance companies that have consumers with high medical claims. The $46 per person assessment annually to health insurance policies will be used to reimburse insurers for former OMIP consumers who run up bills of more than $30,000.

The Oregon Medical Insurance Program board voted unanimously Monday to set the assessment on health insurance plans to fund its reinsurance program at $3.859 per person  per month, which will bring in just under $72 million for 2014.

Health Committee Approves Bill to Offset 2014 Premium Hikes

The Lund Report
A closed-door task force crafted HB 3458, the Oregon Reinsurance Program, after a consultant reported insurance premiums on the individual market would climb 38% next year. The program assesses insurers $4 per policy per month, a decline from current state assessments.

 

April 4, 2013 — The House Health Committee has unanimously passed major reinsurance legislation, designed to offset the spike in premium rates next year when insurers are required to accept thousands of sick people who had previously been denied coverage because of pre-existing conditions such as cancer and heart disease.

Health Insurers May No Longer Qualify for Lower Assessments

The Lund Report
The high risk pool has been offering lower assessments to health insurers if they deny coverage to fewer people, but that program could come to an end

February 16, 2012— Health insurers in Oregon may no longer be able to lower the assessments they pay into the high risk pool.

Up until now, insurers have been offered a 10 percent reduction if they could show, on average, that they denied coverage less than 20 percent of the time over the previous three years.

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