When to Buy Insurance in New York City
By Maggie RaffertyThe past couple of years have been particularly tough for the insurers in New Jersey.
Insurers have lost their market share to the likes of Blue Cross Blue Shield of New Jersey, Cigna and UnitedHealth Group.
Now, a group of the industry’s biggest players is trying to change the equation with an insurance book they’re calling the “Insurance Knowledge Book.”
And it’s not your average book.
It’s a primer to buying insurance in New England, from the state’s unique health care system to the insurance industry’s relationship with the medical profession.
“It’s an honest look at the current state of the marketplace, and how it is affecting our business,” said Matt Staggs, executive director of the Northeast Business and Industry Alliance, which is backing the book.
It’s also the latest effort to change perceptions of what it means to be a New Englander, as New Englanders increasingly get their insurance through private health plans, not public ones.
“The reality is, the majority of the insurance market in New Hampshire is going to be for private health care providers,” said John Travolta, CEO of Blue Shield New England.
“The reality of New England is that we’re going to have the health care costs that the average New England family is paying.”
Insurers are now scrambling to fix their business.
The New England Association of Insurance Commissioners says the new book is the first step toward a more efficient marketplace.
“This book will provide clarity on the insurance markets, provide guidance for insurers and health plans in the Northeast, and provide consumers with information to understand what the health insurance market is like and how to choose a plan that is right for them,” the association said in a statement.
The book will be available in a few months for $50 from all insurers.
It will also be available online for $25.