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Is Health Care Reform Changing the Face of Health Insurance?

hospitalDuring the health care debate health insurance companies were attacked for their current practices, denying coverage to individuals and for increasing health insurance rates. While the debate is over and health care reform is law, a majority of those things are currently still happening. But health care reform has changed, or started to change, the face of health insurance.

Right now, health insurance companies are going through a transition period before the major provisions of reform kick-in. By re-branding logos, websites, and social media campaigns, health insurers are focusing on preventive medicine, leading healthy lifestyles and helping consumers take control of their health.

Also, insurers are integrating tools for consumers to use. Between mobile apps, more consumer-friendly websites and wellness campaigns, companies are offer consumers more tools to manage their prescriptions and lifestyles.

Not only are health insurers are changing their brands, they are changing the way they do business.

Insurers are partnering with hospitals and doctors to integrate their technology and practices to offer streamlined care. Health insurers are getting more hands-on when it comes to utilizing health care services by buying and opening urgent care centers and practices.

With the medical loss ratio (MLR), health insurers are required to spend 80 to 85 percent of consumer premiums on medical services. This is causing health insurance companies to cut administration costs, so they can meet the MLR rate without being fined.

The changes in the health insurance industry are for the better and will create a better experience for any consumer who needs to utilize their plan or health care services.

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