CareFirst Blue Cross Blue Shield's patient-centered medical home (PCMH), which has already produced positive results for the insurer, continues to improve outcomes in its fourth year--and cost $345 million less than expected in 2014, the insurer said in a report.
CareFirst Blue Cross Blue Shield has amassed an "excessive" amount of money and should reinvest a portion of it back into the District of Columbia, where the nonprofit insurer is headquartered, according to a ruling from the D.C acting insurance commissioner.
Republicans on the House Oversight Committee in a new report have accused White House officials of colluding with insurers that threatened to raise premiums under the Affordable Care Act.
Medicaid programs could lower costs and boost quality care by implementing a patient-centered medical home model. Connecticut, for example, incorporated a medical home for its Medicaid program, improving quality and dropping per-member costs by 2 percent in only 18 months.
Health plan rates proposed in Virginia, the first state to publicize rate proposals for 2015, support industry analyst predictions that premiums will rise next year, reported the Wall Street Journal.
Insurers already are anticipating the need to raise prices for 2015, reports Reuters. The first group of enrollees represents a higher rate of older and more costlier members than anticipated so insurers will need to raise premiums to avoid losing money.
Healthcare costs for the 1 million members participating in CareFirst's patient-centered medical home totaled $98 million less than the insurer projected, resulting in 2.7 percent savings, according to the announcement.
Maryland regulators should place a cap on the amount insurers can increase premiums for plans sold through the state-run health insurance exchange, the attorney general said Tuesday.
A tense situation arose over the weekend between officials in Washington, D.C., which is implementing its own health insurance exchange, and CareFirst Blue Cross Blue Shield, the region's dominant insurer.
As insurers continue to submit plans to sell on states' health insurance exchanges, the Washington, D.C. online marketplace boasted that four major companies intend to operate on its exchange.