Florida Group Health Insurance Blog

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Florida is one of nine states in which the average premium for COBRA, providing health care coverage for laid-off workers and their families, equals or exceeds the average unemployment benefits, according to a study by Families USA.

The report, issued by Families USA, a national organization for health care consumers, also said that nationally, the average premium costs for family COBRA coverage consumes almost 84 percent of average unemployment benefits.

COBRA allows laid-off workers to retain their employer-based insurance if those laid-off workers pay the full cost of the coverage.

“COBRA health coverage is great in theory but lousy in reality,” Ron Pollack, Families USA’s executive director, said in a release. “For the vast majority of workers who are laid off, they and their families are likely to join the ranks of the uninsured.”

In Florida, the report said the average monthly unemployment benefit is $1,013, while the average monthly family COBRA premium is $1,037, or 102.4 percent of the benefit. For individuals in Florida, the average monthly COBRA premium is $371, or 36.6 percent of the unemployment benefit.

Other states in which COBRA premiums equal or exceed average unemployment benefits are Arizona, Alaska, Louisiana, Mississippi, Alabama, Delaware, West Virginia and South Carolina, the study said.

In 41 other states and Washington, D.C., COBRA family coverage consumes at least three-fourths of average monthly unemployment benefits, the study said.

Data was taken from the U.S. Department of Labor.

To learn more about Florida group health insurance, Tampa group health insurance, Sarasota group health insurance, Miami group health insurance, or Orlando group health insurance, visit Grouphealthflorida.com or call 1-800-873-5713.

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Wednesday, January 7, 2009, 9:43am EST
Cigna cutting 1,100 jobs
Tampa Bay Business Journal

In actions described as a response to the economic downturn, health insurer Cigna Corp. said late Monday it would be laying off 1,100 employees, roughly 4 percent of its work force, as well as consolidating unspecified real estate locations.

The Philadelphia-based company has about 500 employees in Florida.

“There’s no determination yet on which offices, which locations and which employees will be impacted. As soon as we begin to figure that out, we will make a final determination and we will start to notify the locations,” said Chris Curran, spokesman for Cigna.

Cigna said it expects to incur between $30 million and $40 million, after tax, in cost reduction charges in fourth-quarter 2008.

“Given the unprecedented economic situation we and our customers are facing, these actions are essential to ensure we can meet their needs for high value, cost effective products and services,” Cigna Chairman and Chief Executive Officer H. Edward Hanway said in a statement. “Decisions like these are difficult and never made lightly, but they are necessary given the current environment.”

The job eliminations are anticipated to be in large part complete by midyear 2009 and the company said affected employees will be eligible for severance benefits and outplacement support.

CIGNA (NYSE: CI) said it will provide more information on its cost reduction charge during its fourth-quarter earnings call scheduled for Feb. 5.

To learn more about Florida group health insurance, Tampa group health insurance, Sarasota group health insurance, Miami group health insurance, or Orlando group health insurance, visit Grouphealthflorida.com or call 1-800-873-5713.

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NEWS RELEASE
FOR IMMEDIATE RELEASE:
Jan. 5, 2008

Blue Cross and Blue Shield of Florida Completes Acquisition
of Florida Health Care Plans

JACKSONVILLE, Fla. – Blue Cross and Blue Shield of Florida, Inc. (BCBSF) has completed its acquisition of Florida Health Care Plan, Inc. (FHCP) from Halifax Hospital Medical Center (HHMC). FHCP will operate as a community-based, locally-managed, HMO subsidiary of BCBSF, serving Volusia and Flagler counties.

FHCP is a successful, high quality, mixed staff-model health care plan with 53,000 members consisting of large and small employer group plans, Medicare Advantage Part D Plans and the Cover Florida Plan, 300 physicians, including 60 employed physicians, 12 health care facilities and eight pharmacies in Volusia and Flagler counties.

“We are excited about bringing FHCP into the BCBSF family,” said Robert I. Lufrano, M.D., chairman and CEO of BCBSF. “We believe this acquisition will provide BCBSF members with an expanded access to an array of high quality, affordable health care choices.”

“As a result of this acquisition, FHCP members who are temporarily outside of the Volusia and Flagler service area, to include students away at college, will have access to the BCBSFL Statewide and National networks,” said Butch Simpson, CEO of FHCP. “FHCP will become stronger by offering plans in collaboration with BCBSFL which cover employers with employees both inside and outside of the Volusia and Flagler service area.”

As a subsidiary of BCBSF, FHCP will provide services to those who qualify for the Cover Florida Health Care Access Program in Volusia and Flagler counties. BCBSF will provide Cover Florida services throughout the rest of the state as one of two statewide participants.

Blue Cross and Blue Shield of Florida is a leader in Florida’s health industry. Since 1944, the company has been dedicated to meeting the diverse needs of all those it serves by offering an array of choices. BCBSF is a not-for-profit, policyholder-owned, tax-paying mutual company. Headquartered in Jacksonville, Fla., BCBSF is an independent licensee of the Blue Cross and Blue Shield Association, an association of independent Blue Cross and Blue Shield companies. For more information concerning BCBSF, please see its Web site at www.bcbsfl.com.
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www.grouphealthflorida.com
1-800-873-5713 ext 101
To learn more about Florida group health insurance, Tampa group health insurance, Sarasota group health insurance, Miami group health insurance, or Orlando group health insurance, visit Grouphealthflorida.com or call 1-800-873-5713.

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