| Health Insurance Cooperatives Are Another Alternative
Of all the options on the table regarding health care reform, one we have not heard much about is health insurance cooperatives. Back in June, Sen. Kent Conrad (D-ND) raised the proposal of a nonprofit health insurance cooperative to replace a public health care plan. According to a quote on The Wonk Room website, Conrad said that a health insurance cooperative “would have the same plans and would be subject to the same standards" as private insurance plans, and that a cooperative “would provide an alternative to for-profit insurance companies." A “cooperative," as defined by the International Co-operative Alliance, is an autonomous group of people who come together voluntarily to meet their mutual economic, social, and cultural needs by forming a jointly-owned and democratically controlled entity.
Oriental Insurance Targets 10% Premium Income Growth
Oriental Insurance has set a target to close the current fiscal with a premium income of INR44 billion, an increase of 8% compared to last year. The insurer is planning to commence selling policies online – reported Business Standard. The general insurer has appointed a consulting firm to study whether it should continue with third party for its mediclaim policies or not, quoted the magazine. M Ramadoss, managing director of Oriental Insurance, stated that the company had generated a premium of INR40.7 billion last year, and set a target of INR44 billion for the current fiscal. During the first quarter, the company has reported a 10% growth in the premium income, which stood at INR13 billion. On August 15, the company is likely to launch a core insurance solution through which customers can buy policies such as overseas travel cover, health, personal accident, motor and house holders policies.
GoHealthInsurance.com Passes Milestone: More Than 3.5 Million
The comparison shopping technology at GoHealthInsurance.com has now provided more than 3.5 million instant health insurance quotes for consumers all around the country. As of Thursday, August 13, 2009, GoHealthInsurance.com has processed 3,500,000 instant health insurance quotes for consumers exploring their health insurance options. That includes more than 94.7 million health insurance plans displayed for shoppers right on their computer. These major usage numbers highlights the rise of GoHealthInsurance as a leading online health insurance connector. Currently, GoHealthInsurance quoting and online application technology is the second-largest platform of its kind. "Thousands of shoppers every day come to GoHealthInsurance.com to find a health plan," said Shane Cruz, Vice President of Technology at Norvax, Inc., the parent company of GoHealthInsurance.com.
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