Blue Cross Affordable Care Act Rates To Rise

Members enrolled in Blue Cross of Northeastern Pennsylvania’s Affordable Care Act plans will see their premium rates rise by an average of 6.9 percent in 2015.

Officials for the Wilkes-Barre-based insurer declined to specify how many members are covered by its Affordable Care Act plans. Its website shows 12 available 2014 “Blue (Affordable Care Act) Metal” plans.

“The increases are necessary to meet the coverage requirements, including essential health benefits, of the (Affordable Care Act) and to keep up with the cost of care for members in our ACA products,” said Anthony Matrisciano, spokesman for Blue Cross of NEPA, which has about 550,000 members across 13 counties.

The increase, effective Jan. 1, comes amid a state Insurance Department review of Highmark Inc.’s proposal to acquire Blue Cross of NEPA. It’s one of two rate hikes submitted by the insurer that received approval from the state Insurance Department.

Read more: http://citizensvoice.com/news/blue-cross-affordable-care-act-rates-to-rise-1.1789100

Consol Selling 5 Coal Mines, River Transport Business In $3.5B Deal

English: Consol Energy Center

English: Consol Energy Center (Photo credit: Wikipedia)

One of the world’s oldest coal companies is selling off the business that gave Consol Energy Inc. its name, giving up five West Virginia mines and its river transport arm in an effort to transform into a growth-oriented gas business.

After weeks of speculation, Cecil-based Consol confirmed it is selling its Consolidation Coal Co. subsidiary to an Ohio mining competitor in a deal that includes $850 million in cash. The company will keep five mines to help supply overseas demand and use the capital it’s freeing up to reinvest in exploration and production of shale gas.

“We’ve kept the jewels for our shareholders,” CEO J. Brett Harvey said. “It’s important for you to understand that.”

Harvey said Consol retained an advantage over drilling competitors by retaining what it considers its best coal assets. The five mines it will hold, including its Pennsylvania operations, can supply both electric and metals makers, allowing it to sell at the best price and get more money to keep growing gas production by 30 percent annually, Consol executives said.

Read more: http://triblive.com/news/adminpage/4960070-74/consol-coal-billion#ixzz2j27tk12V
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