National Health Insurer a Key Thought Leader in Reform for Individual Major
Medical
MILWAUKEE, Nov. 5 /PRNewswire/ -- Fortis Health is leveraging its
expertise in the health insurance industry to lead reform for individual major
medical markets across the country. The company, recognized as an authority
on market practices and legislative trends, continues its work with
legislators to create favorable environments where consumers have affordable
health insurance options.
"Fortis Health is committed to working for change in states where
regulation has created an unfavorable insurance climate for consumers and
insurers alike -- and we take a proactive approach to create and protect
competitive markets, which allows product affordability and choice," said Ben
Cutler, president and CEO of Fortis Health. Cutler adds that while the
company has never left a state due to competition, it has been regulated out
in some cases. "We are out in front as an advocate for individual medical
reform, instead of heavy-handed regulation."
Noteworthy success record
Most recently, Fortis Health played an instrumental role in lobbying for
change in Kentucky and New Hampshire. In both cases, legislation had created
an economic equation that forced health insurers to leave the state. As a
result, thousands of people were left without meaningful choices in the
marketplace and in turn, dramatically higher premium rates. Fortis Health
assisted the states in developing new legislation that renewed competition and
consumer choice.
New Hampshire Senator Arthur P. Klemm, Senate President commented, "This
past year, the New Hampshire Senate passed legislation to restore a healthy
market for individual insurance. It involves the creation of a high-risk
pool, funded through industry assessments, to subsidize coverage for people
who are priced out of the regular market. Some insurance carriers that left
the state following well-intentioned but flawed policy changes have indicated
they will be returning under this new system. This is an important step
forward in balancing the needs of New Hampshire residents and the legitimate
concerns of insurers."
Key thought leader
Last month, Fortis Health addressed attendees at the annual meeting of the
National Association of State Comprehensive Health Insurance Plans
(NASCHIP) -- the sole organization providing resources, advocacy and
educational programs for states with individual market high-risk pools.
Fortis Health supports high-risk pools in the states as an effective safety
net for those individuals with chronic health conditions. Risk pools provide
private insurance coverage alternatives to those who would otherwise need to
depend on public assistance programs or simply go uninsured.
Fortis Health sits on the Board of the Minnesota and Montana high-risk
pools, and will begin playing a larger role in the management of state
high-risk pools. Thirty-one states have implemented risk pools, and several
others are considering legislation to create this effective program. In
addition to heading a wide variety of state initiatives, Fortis Health is
taking a leadership role at the federal level on a number of issues. The
company is a key advocate for expanding medical savings accounts (MSAs), sits
on the board of the Council for Affordable Health Care (CAHC,
http://www.cahc.net ), and works to ensure access to affordable health
insurance coverage for all Americans.
About Fortis Health
Fortis Health is committed to helping Americans meet their health
insurance needs. In business since 1892, the company is a leader in the
Individual Medical, Small Group, Short-Term and Student Health insurance
markets. Fortis Health provides coverage for more than one million people
nationwide. Its products are underwritten and issued by Fortis Insurance
Company, John Alden Life Insurance Company and Fortis Benefits Insurance
Company. Fortis Health is headquartered in Milwaukee, Wis., and has
operations offices in Minnesota, Florida, Idaho and Ohio.
Fortis Health is part of Fortis, Inc., a financial services company that,
through its operating companies and affiliates, has built leadership positions
in a number of specialty insurance market segments. Fortis, Inc. is part of
Fortis, a financial services provider active in the fields of insurance,
banking and investment. As of second quarter, 2001, Fortis had total assets
in excess of $400 billion. Fortis ranks 31st based on assets and 73rd based
on revenues on the Fortune 'Global 500' and 42nd based on revenues on the
Forbes 'International 500' list (July 23, 2001).
Members of the media interested in more information may contact Michelle
Love-Johnson at 262-523-3740 or michelle@seroka.com . Fortis Health can be
found on the Internet at http://www.fortishealth.com
SOURCE Fortis Health
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Related links:
http://www.fortishealth.com
CONTACT:
Michelle Love-Johnson for Fortis Health,
+1-262-523-3740, michelle@seroka.com
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