Insurance

Bugaboo Stroller recall announced for Carry Handle Replacement

Bugaboo Cameleon and Bugaboo Donkey Model Strollers - credit: CPSC

(Best Syndication News) - Bugaboo Cameleon and Bugaboo Donkey Model Strollers are being recalled because the carrying handle could fail. The U.S. Consumer Product Safety Commission and Health Canada have announced the voluntary recall of around 46,300 strollers in the U.S. and 4,440 in Canada.

The importer, Bugaboo Americas, announced the recall after receiving 58 reports that the carrying handle detaching unexpectedly. No injuries were reported to the company.

A button in the handle could break loose posing a choking hazard and the handle could detach unexpectedly causing the child to fall. Replacing the carrying handle is expected to prevent potential choking hazards and fall dangers. Bugaboo International B.V., located in Amsterdam, The Netherlands, is the manufacturer of the Bugaboo strollers.

Trends in California Health Insurance Coverage

Credit: National Cancer Institute - Bill Branson (Photographer) - PD

(Best Syndication News) - A new report from the California HealthCare Foundation found that one out of every 10 children was uninsured; over 1.1 million children in California were uninsured in 2011. The proportion of uninsured children is higher that the nation’s rate. The report came from the Keck School of Medicine of the University of Southern California (USC) and Diringer and Associates.

The report also found that more children had public health insurance with fewer of them getting coverage from their parents’ employer. The California children's health insurance program, Healthy Families, has run into problems over the last three years because of budget cuts funding issues. There was a decline in enrollment for Healthy Families.

Nevada has the highest proportion of children that are uninsured, while Massachusetts has the lowest proportion. In California, the rate of uninsured children is more than the national average and more than in most states.

WellPoint to buy Amerigroup for $4.9 Billion

calculator buttons up close - BSN

(Best Syndication News) - WellPoint Inc. (NYSE: WLP) announced that they have reached an agreement with Amerigroup Corporation (NYSE:AGP) to acquire them. The definitive agreement includes terms for WellPoint to pay $92.00 per share in cash to buy all outstanding shares of Amerigroup. The transaction is valued at approximately $4.9 billion.

Amerigroup is a leading managed care company that serves the government sector health care market such as Medicaid and Medicare.

Angela F. Braly, Chair, President and Chief Executive Officer of WellPoint, said that buying Amerigroup would help WellPoint be in a better position to grow and prepare for the health insurance industry changes. This would help them to prepare for the upcoming Health Care Reform Act’s health insurance exchanges.

Health Savings Accounts increase 34 percent Last Year

Quarters - BSN

(Best Syndication News) - More people are opening Health Savings Accounts (HSAs) according to Bank of America. The increase was 34 percent more HSAs in 2011 compared to the previous year. Bank of America said that they added over 50,000 Health Savings Accounts in 2011.

Bank of America said that they have over 600,000 individual and over 2,000 corporations that have set up either a HSAs, a health reimbursement arrangement (HRAs), or flexible spending accounts (FSAs). Out of these health benefit options, the HSAs are increasing at the fastest rate. Almost 200,000 HSAs have been opened with balances of over $300 million.

Social Security Payments to increase 3.6 Percent in 2012

Elderly crowd - BSN

(Best Syndication News) - Social Security and Supplemental Security Income recipients will receive a 3.6 percent increase starting on December 30, 2011. The increase is to adjust for the cost-of-living. The last time the government increased for this was in 2009. The last two years there was no cost-of-living increase.

Additionally, wage earners will also be expected to pay more for the Social Security Tax. The taxable maximum was increased to $110,100, which previously was $106,800. The Social Security Administration estimates that around 10 million workers will pay higher taxes because of the increase in the maximum for the 2012 tax year.

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