Top 10 Articles Of 2018: Health Insurance

By Susan Rupe

InsuranceNewsNet readers were less concerned about the Affordable Care Act in 2018 and more interested in the cost of care – particularly out-of-pocket medical expenses and long-term care costs.

All of the top health insurance articles posted to InsuranceNewsNet.com pertained to the increasing price tag of health care costs and long-term care.

Readers were interested in news of high-deductible health plans and how consumers can cover rising out-of-pocket costs. As the population continues to age and the cost of providing care to that aging population continues to be a concern, readers also were interested in developments to the LTCi market.

No. 1: Unum Offers Employer-Paid Plan For Out-Of-Pocket Hospital Costs

Consumers are facing higher deductibles in their traditional health insurance and that leaves them at greater financial risk in case of a hospital stay. One carrier, Unum, offered an employer-paid hospital indemnity insurance to help defray employee health out-of-pocket costs.

No. 2: Advisors Debate Value Of Long-Term Care Insurance

The value of LTCi is generating a fierce debate on whether it belongs in an investment/retirement portfolio. Some advisors say no product works better to protect consumers from the financial risk of needed care. Others say it’s better for consumers to plan for long-term care on their own by saving and investing.

No. 3: LTCi Liquidation Decision Could Undermine The Insurance Industry, ACLI Says

The LTCi world had its eyes on a liquidation case that could undermine the confidence in the entire insurance industry, according to the American Council of Life Insurers. The ACLI and the National Association of Insurance Commissioners asked the Pennsylvania Supreme Court to limit policyholder claims against Penn Treaty and American Network to 30 days after the date of liquidation. Allowing that limit would threaten the integrity of every life insurance and annuity policy, the ACLI told state regulators.

No. 4: More Large Employers Offer High-Deductible Health Plans

High deductibles continued to dominate the health insurance world in 2018. Data showed the percentage of large employers offering a traditional health plan along with newer high-deductible health plans rose last year across all regions.

No. 5: Insurers With LTCi Blocks Draw Distinctions With GE

Another LTCi concern: Whether financial difficulties facing General Electric’s insurance run-off operation would affect Genworth Financial’s LTCi policies that were reinsured to a GE subsidiary. A Genworth executive assured that the carrier has no net economic exposure or or liability associated with the liability associated with that block of business. Genworth was a GE subsidiary until it was spun off as a separate company in 2004.

No. 6: Looking At Tax Deductibility Of LTC Combo Policies

As tax season approaches every year, one of the questions most often asked is whether the cost of an LTC rider on life insurance is tax deductible. Much of the confusion centers on the fact that stand-alone (traditional) LTCi policies enjoy a level of tax deductibility as a medical expense under the Internal Revenue Code.

No. 7: Millennials In The Market For LTCi For Their Parents

One advisor is finding an unlikely market for LTCi – millennials who want to make sure their parents have access to care if they need it. Brian Starr, a life and LTCi advisor in Phoenix, said he has plenty of clients in the traditional age range for purchasing LTCi, but he is noticing a trend where the younger generation is becoming more involved in purchasing the product.

No. 8: Uncertainty Could Drive Individual Health Premiums Up For 2019

Federal policy uncertainty drove health insurers to implement significant premium increases for Affordable Care Act policies in 2018. In March, researchers predicted higher prices and more insurer withdrawals from the individual market in 2019. Most insurers said they are committed to participating in the individual market, but their commitment is being tested by policies that undermine the stability of the individual market.

No. 9: Medigap Offers Agents Years Of Strong Commissions

As Medigap enrollment continues to grow at rates exceeding overall Medicare enrollment growth over the next decade, that will mean more opportunity for insurers, agent and marketing organizations, projections show.

No. 10: Employees Paying For Voluntary Benefits, But Confusion Remains

As the variety of voluntary workplace benefits has increased, so has employees’ willingness to spend money on them, Meredith Ryan-Reid, MetLife senior vice president and head of distribution development and benefits delivery, told InsuranceNewsNet. But although workers have many benefit options available to them, they also are confused about choosing the benefits that are right for their own situations. Benefits advisors need to help workers make the right choices.

Susan Rupe is managing editor for InsuranceNewsNet. She formerly served as communications director for an insurance agents' association and was an award-winning newspaper reporter and editor. Contact her at [email protected]. Follow her on Twitter @INNsusan.