Despite its shortcomings and problems, the certainty that Obama's healthcare offered to the health insurance industry was more soothing than the promises and ideas that the Romney offered after repealing Obama's plans!" Ed Snenneh of Insurance Navy said.
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Chicago, Illinois (PRWEB) November 08, 2012
Health insurance companies in Illinois are thrilled after the victory of Obama in the 2012 election. Health insurance carriers, like most average people, could not rationalize what's behind the Republicans' aim at repealing Obama's healthcare project. "Despite its shortcomings and problems, the certainty that Obama's healthcare offered to the health insurance industry was more soothing than the promises and ideas that the Romney offered after repealing Obama's plans!" Ed Snenneh of Insurance Navy said.
The new Obama's healthcare plan will mandate almost every individual to buy their health insurance coverage, with the aid of new government subsidies and at the same time the plan will force carriers to accept all applicants, including the those with preexisting conditions. "Some experts project that health insurance companies will be able to generate over $50 billion in extra premiums from this plan. The amount of profit (or loss) this plan will add to bottom line of health insurers is something that's not accurately predictable at this time," Mr. Snenneh said.
In Illinois the plan to build the state’s health insurance exchange is in progress. State officials planned to go with the project regardless of who won the elections. Illinois is one of fifteen other States that decided to manage their own health care affairs and have their own health insurance exchanges instead of having the federal government in the picture. The partnership between the State and the federal government may go for a year after 2014, and by 2016 the State of Illinois will go solo in managing the exchange.
Individual and business consumers will be able to use the exchange to shop online for personal and commercial health insurance plans based on comparable coverage and premiums. "The health insurance exchange in Illinois will be open to everyone, including the 800,000 uninsured residents, regardless of their state of health. Individuals will be allowed to browse the user friendly website of 'the exchange' to access Medicaid, the All Kids program, or private insurance products, depending on each consumer’s eligibility. Based on information provided consumers will be able to know of their eligibility for subsidies to pay premiums or for Medicaid," Snenneh said.
For some of the Illinois low income families who hugged their little ones because Obama, and not Romeny, won the elections, the overhaul of the healthcare system in the State of Illinois is underway, no matter who won!
ABOUT INSURANCE NAVY
Insurance Navy Brokers is a leading provider of personal and business insurance quotes in Chicago. The company represents a number of property, casualty and health insurers in Illinois, including Blue Cross Blue Shield. The agency also offers a wide range of auto insurance quotes in Chicago, tow truck insurance, Illinois and Indiana car dealers insurance and bonds.
Address: 10338 South Harlem Avenue, Palos Hills, IL 60465
Phone: (708) 237-0404