Health insurance premiums for plans purchased through Affordable Care Act marketplaces for 2020 decreased in 31 states, a new analysis shows.
Read moreApplication Programing Interfaces can help benefits brokers manage their employer-clients’ data. But brokers must be sure the API technology they select will meet their clients’ needs.
The Bureau of Labor Statistics projects that 36% of 65- to 69-year-olds will be in the workforce by 2024. In addition, a 2014 AARP study tells us that 70% of experienced workers plan to work full time or part time in retirement. This whole paradigm shift affects not only seniors, but also those who work closely with this population.
Employer wellness programs are mainstream components of benefit packages for most major companies. However, today’s programs have come a long way from their beginnings nearly 40 years ago.
While the majority of Americans age 40 and over claim to have a well-defined retirement strategy, almost the same number would give themselves a‘ C’ grade or lower on their retirement savings, according to a new survey conducted by The Harris Poll on behalf of TD Ameritrade.
A survey by the Insured Retirement Institute (IRI) finds that millennials’ expectations are not well aligned with the retirement planning steps they have taken thus far. Although nearly eight in ten millennials say that they have saved some money for retirement, nearly half – 46 percent – have saved less than $10,000.
The number of Americans who have some form of long-term care insurance now totals 7.5 million according to new data from the American Association for Long-Term Care Insurance.
UnitedHealth Group's fourth-quarter profit beat expectations, led by its Optum health services that saw sizable growth from its business running clinics and outpatient medical centers. In morning trading Wednesday, UnitedHealth Group shares were up more than 2%. Minnetonka- based UnitedHealth Group runs UnitedHealthcare, which is the nation's largest…
Twice already, battles over the ACA’ s constitutionality have been fought all the way to the Supreme Court. The legal argument in this dubious Texas lawsuit is the flip side of the original 2012 Supreme Court challenge to the law. A U.S. District Court judge in Texas somehow was blinded to the irony of this argument and ruled in the Texas AG’ s favor.
Health insurance CEO pay is outpacing the growth of revenue and growth of other top executives’ pay according to a report. The most recent survey showed that total direct compensation (the sum of base salary plus annual incentives and long-term incentives) for health insurance CEOs increased 12% from 2018 to 2019.
Jan. 15– COLUMBUS– Ohio's largest public employee pension system could decide to dramatically reduce health-care benefits for its retirees. The Ohio Public Employees Retirement System, which holds pension fund assets of $91 billion, says its priority by law must be the pensions of its 1.1 million members, mostly current and former state and local government…
Jan. 14– Some 27,000 undocumented California senior citizens would receive Medi-Cal benefits under a funding proposal from Gov. Advocates and lawmakers who have supported universal health care coverage said they were satisfied that Newsom included $80.5 million to expand Medi-Cal benefits to seniors, age 65 and older, regardless of immigration status.
A National Association of Insurance Commissioners’ task force will collect data from several insurers over the coming weeks as part of its effort to establish a uniform long-term care rate review process.
Thanksgiving, then Christmas, came and went without the youngest of the three Bennett sisters from Paola, Kansas. Two state senators, one a Republican, one a Democrat jointly introduced the bill, which Kansas lawmakers will consider after their annual session begins Monday. In the days before she died, Bennett and her family called more than a dozen facilities, in…
North Carolina, particularly its unyielding Senate Republican leadership, is in the national spotlight on Medicaid expansion as the legislature resumes its 2019 session Tuesday. Those bipartisan successes have raised the question of why a compromise can't be reached in a similar scenario in North Carolina. Mitch Kokai, senior policy analyst for…
There are myriad objections to buying DI, but the No. 1 reason people don’t buy it is they were never asked to buy. Here are the common objections to buying disability insurance, and some methods for getting past those objections.
In the United States, providing patient care costs every American man, woman and child an average of $2,497 per year. Across the border in Canada, where a single-payer system has been in place since 1962, the cost of administering health care is $551 per person.
“As we head into this election cycle, we're going to be talking about healthcare every single day because it's the most important issue for so many people here in Florida and across the country,” said Perez, whose South Florida appearance fell exactly one week before Vice President Mike Pence is scheduled to headline a Latinos for Trump event in Kissimmee.
The repeal of an unpopular fine for people without health insurance has had little impact on “Obamacare” sign-ups or premiums, a gap between the real world and legal arguments from conservatives again challenging the Affordable Care Act.
Jan. 8– Two defendants tied to an insurance-fraud scheme that included Spokane developer Ron Wells were sentenced to federal prison Wednesday and ordered to pay restitution to help cover the cost of the insurance payouts. Brittany J. Harris, 34, of Newport, and Michele L. Smith, 49, of Spokane Valley, each received sentences Wednesday from U.S. District Court Judge…
Beth Bennett didn't check on the balance in her employer-sponsored retirement account very often. When she logged in to view her account in November, she expected to see a balance of more than $80,000. Someone had stolen her identity and was able to pose as her, changing Bennett's mailing address, redeeming big chunks of her mutual funds and having checks mailed…
Jan. 7– TUPELO– When Carlton Jacobs signed up for a Medicare Advantage plan with Humana last fall, he didn't realize it was missing something. When the New Albany man went for an appointment in Tupelo, he found that his doctor was out of network. People enrolled in Medicare Advantage plans have the option to chose another Medicare Advantage plan or return to…
The study estimated that cutting U.S. administrative costs to Canadian levels would have saved more than $600 billion in 2017.. Health administration costs were more than fourfold higher per capita in the U.S. than in Canada which implemented a single-payer Medicare for All system in 1962. The authors note that in Canada hospitals are financed through…
In findings published Monday in the journal Health Affairs, researchers noted that, for some American families, average out-of-pocket healthcare spending for maternity care– including during pregnancy, delivery and three months postpartum– jumped from $3,069 in 2008 to $4,569 in 2015, a nearly 50 percent increase.
Florida has 3.6 million people uninsured. A University of Massachusetts Amherst study, authored by Robert Pollin and other authorities, details how U.S. single payer is cost-beneficial. For example, Joe Biden has misleadingly stated that Medicare for All would cost Americans $33 trillion over a 10- year period, a figure cited by many establishment…
That totals 41,642 children without health coverage, an increase of nearly 12,000 in two years, according to a recent study from the Georgetown University Center for Children and Families. “These well-child visits and other preventive care are the first and best opportunity we have to engage parents and caregivers as partners in their child's health and…
Jan. 5– Ohio Department of Medicaid will soon launch a new change to bring more transparency and simplicity to its $3 billion prescription drug program, in the wake of months of criticism of the pharmacy benefit managers that administer these dollars. Ohio Medicaid's unified preferred drug list requires the insurance companies that manage Ohio Medicaid…
The funded status of the nation’ s largest corporate pension plans edged up slightly in 2019 as historically low interest rate levels mostly offset the strongest investments gains witnessed by plan sponsors since 2003, according to an analysis by Willis Towers Watson.
By the end of 2020, the landscape for the Affordable Care Act could look very different. However, a mid-December ruling from the Fifth Circuit Court of Appeals leaves a lot of questions to be answered about the future of former President Barack Obama’s signature law.
It's likely you'll make over $2 million during your working years. That's something worth insuring, and disability insurance is the way to do it. Here are 10 things to know about this vital coverage.
The exact number of Wyoming enrollees- 24,665- is down 227 from last year, a drop of about 1 percent. The enrollment period started sluggishly in Wyoming, officials have said, but picked up and finished at roughly the same figure from 2018.. The figures are perhaps more surprising given that Congress removed the tax penalty for not having insurance, meaning people…
Jan. 1– Medicare counselor Kelly G. Loeb helped 92 people enroll in their health care plans this past year, but it was tougher than usual. The Centers for Medicare and Medicaid Services added a new planning tool to its website, and it was so confusing– even for experts like Loeb– that congressional leaders have called for officials to publicize a special do-over…
An aging population and the need for workers to protect themselves were two recurring themes in InsuranceNewsNet’s most-read health-related articles in 2019.
Dec. 29– DOVER, N.H.– Bernie Sanders' long-championed “Medicare for All” health care system will cost people their jobs, the Vermont senator said Saturday while campaigning in the home of the first-in-the-nation primary. University of Massachusetts Amherst economist Robert Pollin told Kaiser Health News earlier this year Medicare for All could cost some 2…
Dec. 28– Some providers who infuse specialty drugs say a new policy from Tennessee's largest health insurance company could cause them to end the service, threatening their practice and forcing patients to find a new place to receive their life-changing drug infusions. Starting Jan. 1, BlueCross BlueShield of Tennessee will stop reimbursing providers for…
The Food and Drug Administration announced Friday the legal tobacco purchasing age has officially been raised on a federal level from 18 to 21.. “It is now illegal for a retailer to sell any tobacco product– including cigarettes, cigars and e-cigarettes– to anyone under 21,” a notice on the FDA's website states. The age hike was included in a spending package…
The number of uninsured has gone back up and health insurance premiums have never been higher. More consumers than ever are saddled with health care debt and are being forced into bankruptcy. How can health agents help?
While the U.S. House was voting for the impeachment of President Donald Trump, the U.S. Court of Appeals for the 5th Circuit in New Orleans ruled against Obamacare's individual mandate requirement that nearly everyone must have health insurance or pay a penalty. It's gone, ” Donald Trump told reporters before a Cabinet meeting. That means it probably won't be…
Dramatic shifts in family-building benefits place brokers in a prime position to deliver custom packages to their most influential client base. Employers have never been more competitive in their need to attract and retain top talent, offering inclusive benefits that are tailored to meet the needs of today’s evolving millennial workforce.
Enrollment statewide totaled nearly 1.12 million people during the sign-up period for 2020 insurance plans that ended last week, according to the federal Centers for Medicare and Medicaid Services. Nationally, enrollment slipped about 1.7%, to 8.3 million, among states that use the federal HealthCare.gov marketplace, which includes Texas.
For Milliman's 2019 PPFS, the estimated aggregate funded ratio of the nation's largest public pension plans is 73.4% as of June 30, 2019, with the estimated combined investment return at 7.34% in Q1 2019 and 2.66% in Q2, and aggregate plan assets reaching $3.84 trillion as of June 30. Total Pension Liabilities for these plans crossed the $5 trillion mark for the…
It's been a topsy-turvy decade in health care. The Supreme Court allowed states to go their own way on whether to expand Medicaid to people making up to $17,000 a year under the 2010 Affordable Care Act. And because federal taxpayers pick up 90% of the tab, those that didn't choose to expand, particularly Texas and Florida, are subsidizing these gains without…
—Nancy Glynn could not afford a funeral for her newborn son who died after a premature birth. She was already taking time off from her job as a waitress in Manchester, New Hampshire, to recover from a C-section. Adding to her difficulties, her husband had an unplanned surgery just two days after the baby died.
William Blair and Co., an investment bank and financial services company, issued the following news:. The U.S. House of Representatives set the stage for sweeping changes to retirement accounts by adding provisions of the Setting Every Community Up for Retirement Enhancement Act to a 2020 appropriations bill. If the bill is signed into law by President Trump–…
The decision Wednesday by the 5th U.S. Circuit Court of Appeals in New Orleans sent the case back to a federal district court judge who had declared the entire law invalid because there was no longer a tax on people without health care. The appeals court told O’ Connor to go over the ACA with a“ finer-toothed comb” to determine which provisions of the legislation…
A federal appeals court ruled Wednesday that the ACA’s individual mandate runs afoul of the Constitution because it is no longer a tax following President Trump’s decision to rearrange his predecessor’s program. The decision to punt the case back down the judicial ladder makes it likely that another Obamacare showdown before the Supreme Court.
TALLAHASSEE– With President Donald Trump's impeachment before Congress, a top administration official Wednesday joined Gov. Trump's Health and Human Services Secretary Alex Azar said the administration is going forward with efforts to allow Florida and other states to import prescription drugs from Canada, potentially reducing costs for consumers and…
New York Life will acquire Cigna’s group life and disability insurance business for $6.3 billion.
Congress' Joint Committee on Taxation, which is the companion of the Congressional Budget Office, analyzed the cost of repealing the three taxes from 2020-29.. The repeals would cost nearly $197 billion, $25.5 billion, and $150.8 billion, respectively, over 10 years, the committee found. “Democrats are protecting the quality, affordable healthcare of millions by…
Dec. 17– John Clausen knew a hip replacement was serious business, so he and his wife, Christina, did everything they could to prepare. One of the few things Republicans and Democrats have been able to agree on lately is that this type of medical bill shouldn't happen. Congress and the Pennsylvania Legislature are both considering bipartisan legislation to…
Dec. 17– NASHVILLE– Chattanooga- based BlueCross BlueShield of Tennessee and Cigna Health Insurance have filed federal lawsuits against Tennessee Gov. Martin Daniel, a Knoxville Republican, who sponsored legislation requiring the information submitted to the Tennessee Department of Finance and Administration be made publicly available, were…
The deadline to enroll in health insurance through the Affordable Care Act marketplace at HealthCare.gov has been extended to 3 a.m. Wednesday, Dec. 18, after widespread reports of technical glitches preventing people from signing up.
Tim Kaine, D- Va. In November, President Donald Trump told reporters he supported an increase in the tobacco buying age to 21 from the current 18.. And several expressed concern the White House will use the“ Tobacco 21” measure, as it is called, to avoid imposing the flavored e-cigarette ban that Trump announced in September but subsequently backed away from.
Retired coal miners and longtime opponents of Obama-era taxes on high-cost health plans are eyeing big wins as top congressional leaders and the Trump White House close in on a deal on a government-wide spending bill that’s also carrying lots of overdue Washington business.
More options are available in many parts of Ohio this open enrollment after several insurers expanded the number of counties they were selling their plans in. For 2019, 16 counties in Ohio had only one option. All other Ohio counties will have at least three insurers selling exchange products in 2020..
Dec. 15– LIMA– The potential out-of-pocket costs for an employer health insurance plan were equivalent to 11% of Ohio's median income in 2018, a new report from The Commonwealth Fund has found, following a nationwide trend in which employee contributions to their workplace health insurance plans have been rising faster than wages. The Commonwealth Fund, a…
The indictment accuses the former players of submitting phony insurance claims, which included an ultrasound machine used for women’s health examinations and electromagnetic therapy devices used to treat horses. Each insurance submission amounted to $40,000 to $50,000, and a total of $3.9 million in fraudulent claims.
Despite gains in the stock market this year, U.S. pension plans are near their worst financial state in two years, according to the new report by Mercer, which casts a spotlight on the escalating cost of past promises to employees. Most U.S. companies no longer offer defined-benefit pensions, which typically provided guaranteed monthly payments to workers when…
Trump spoke at the White House as legislation to grant federal workers, both military and civilian, 12 weeks of paid parental leave edged closer to becoming law. Building on that, Trump said at a White House summit on the issue that“ we now have a historic opportunity to enact long overdue reforms. Ivanka Trump, the president's daughter and senior adviser, pointed to…
Legal and General Group, a provider of insurance, savings and investment management products, issued the following news release:. LGRA is a business unit of Legal& General America, part of the worldwide Legal& General Group Plc, a global leader in Pension Risk Transfer, which has over 30 years of experience in the UK PRT market. Legal& General's UK PRT business has…
More than 3,100 U.S. women aged 18 and older from various ethnic and racial backgrounds and life stages responded to the report, Aging Smart, Aging Well: A National Dialogue on Women's Health Attitudes and Behaviors which assessed how women experience their physical, mental and sexual health as they age and their attitudes about healthy aging.
In 2018, 8.3% of Texas children under the age of 6– a total of 198,014– were uninsured. Texas has the second highest rate of uninsured young children, behind Alaska. About 19% of the country's uninsured young children are in Texas, even though Texas' share of the total U.S. population of young children is about half that percentage.
Americans are more focused on improving their health and wellness than their finances in 2020, with only 14% of people including financial planning as a resolution in 2020 – down from 18% last year. In addition, when asked about their top focus areas for the New Year, more than half of Americans said health and wellness while only 27% chose financial stability.
