Anthem boosts its buyout offer for Cigna to $54 billion including debt

June 20, 2015, 12:20 pm

≫ Next: Anthem Makes $47 Billion Offer for Rival Cigna

≪ Previous: Stocks to Watch in Health Insurance: UnitedHealth, Anthem, Molina

$

0

0

Health insurance giant Anthem just boosted its buyout offer for Cinga Corp. 

The news that Anthem is looking to buy Cinga originally broke last Monday, with the Wall Street Journal reporting a $175 a share offer, but the two sides failed to reach a deal.

Now, Anthem has increased its offer, to $184 a share in cash and stock, which comes out to $54 billion, including debt.

There's a press release, which lays out the terms Anthem is offering in a bit more detail: 

The offer, which values the company at $53.8 billion on an enterprise basis, represents an “unaffected” premium to Cigna’s stockholders of more than 35.4%, based on the closing price of Cigna’s shares on May 28, 2015. Under the contemplated terms, *the consideration would consist of approximately 31.4% Anthem shares and 68.6% cash and the combined company* would reflect a pro forma equity ownership comprised of approximately 76.3% Anthem shareholders and approximately 23.7% Cigna stockholders. 

Cinga shares jumped after news of the takeover offer Monday, but have been more or less flat the rest of the week. Shares are up about 67% over the past 12 months: 

(via WSJ)

*SEE ALSO: Cigna shares explode higher after a report Anthem wants to buy it for $175 per share *

Join the conversation about this story »

NOW WATCH: Combine tractor derby is disturbingly competitive and yet absolutely awesome Reported by Business Insider 6 hours ago.

---

Anthem Makes $47 Billion Offer for Rival Cigna

June 20, 2015, 11:53 am

≫ Next: Anthem goes public with $54-billion bid for Cigna after hitting resistance

≪ Previous: Anthem boosts its buyout offer for Cigna to $54 billion including debt

$

0

0

The move is the latest step toward an expected consolidation among health insurance companies. Reported by NYTimes.com 6 hours ago.

Anthem goes public with $54-billion bid for Cigna after hitting resistance

June 20, 2015, 11:56 am

≫ Next: The fate of Obamacare could reside in the hands of one of these 2 people

≪ Previous: Anthem Makes $47 Billion Offer for Rival Cigna

$

0

0

Health insurance giant Anthem Inc. went public Saturday with a $54-billion takeover bid for Cigna Corp. after talks broke down over the future role of Cigna's chief executive. Reported by L.A. Times 6 hours ago.

The fate of Obamacare could reside in the hands of one of these 2 people

June 20, 2015, 4:06 pm

≫ Next: Health insurer Anthem bids $54 billion for Cigna

≪ Previous: Anthem goes public with $54-billion bid for Cigna after hitting resistance

$

0

0

The fate of the Affordable Care Act is in the hands of the Supreme Court once again — and whether it lives as is or crumbles might depend on a justice who believes the heart of the law to be unconstitutional.

Justice Anthony Kennedy is the traditional swing vote, and his views on the latest death threat to the law colloquially known as Obamacare will likely predict how the court rules.

The fate of the decision could also rest with conservative Chief Justice John Roberts, who previously sided with the liberals to uphold the law.

This latest challenge puts Kennedy in a particularly vexing position.

Just three years ago, he voted against the government and opined that the heart of the Affordable Care Act — its individual mandate requiring individuals to purchase some form of health insurance or pay a penalty — was unconstitutional. Kennedy read his dissent from the bench with a palpable display of emotion after Roberts joined the liberals to save the law.

"It amounts to a vast judicial overreaching," Kennedy said of the 5-4 decision that upheld the mandate's penalty as a tax.

Now Kennedy might be the one to save a key provision of the law. This challenge, King v. Burwell, has the potential to cripple the law and throw its future into highly uncertain territory in the 36 states where the federal government provides subsidies for low-income people to buy health insurance.

The high court's decision could be handed down as soon as Monday and is expected to be delivered sometime before the end of the month. And again, Kennedy and Roberts are the justices to watch.

"They're going to be the swing votes," said Jonathan Adler, a professor at Case Western University School of Law and one of the lawyers instrumental in forming the challenge. 

"And I expect them to vote together, whichever way they vote."

The challengers in King v. Burwell are focusing on four words in the statute that supposedly suggest the federal government can't subsidize health insurance in the 36 states that refused to set up their own exchanges. Those four words are in Section 1311 of the law, which establishes insurance exchanges. That section states that subsidies should be issued to plans purchased "through an Exchange established by the State under Section 1311"* *of the Affordable Care Act.Kennedy was the justice targeted by both the challengers and the Obama administration during oral arguments in March. And each side saw points in which they thought he was leaning their way. In one exchange, he seemed to worry about the coercing effects a decision against the healthcare law would have on states to set up their own insurance marketplaces.

During another, he said the challengers "may prevail" on the "plain words of the statute," even though he acknowledged a "serious constitutional problem if we adopt your argument."

Chris Walker, an assistant professor at the Michael E. Moritz College of Law who clerked for Kennedy, told Business Insider that Kennedy could go either way.

"A lot of the questions he was asking were about federalism, and federalism is something he cares deeply about," Walker said. 

On the flip side, near the end of the oral argument, Kennedy asked Solicitor General Donald Verrilli — who represents the Obama administration — about how much authority the IRS should have in interpreting a law passed by Congress, as Slate's Dahlia Lithwick noted. It was the IRS that interpreted the law to allow subsidies in states with exchanges set up by the federal government.

Kennedy questioned whether Congress really meant for the IRS rather than the states to make a decision with potentially billions of dollars at stake."[I]t seems to me a drastic step for us to say that the Department of Internal Revenue Service and its director can make this call one way or the other when there are, what, billions of dollars of subsidies involved here? Hundreds of millions?" Kennedy said during the oral arguments.

"So you've got these bookends," Walker told Business Insider. "At the beginning, he seems very concerned about the federalism argument. And at the end of the argument, he seems to be concerned about executive power and congressional interpretation. So it's difficult to figure out where he stands."

 

Roberts is much harder to figure out, and Supreme Court observers say they're entirely uncertain which way he'll lean. On one hand, he upheld the law last time. On the other hand, he's viewed as generally pro-business in his decisions, and multiple businesses and organizations have issued briefs on the side of the administration in this case.

Complicating things is the fact that Roberts spoke just two meaningful times during the oral arguments. That was as often as the number of times he opened his mouth to crack a joke at one of the lawyers involved in the case.

Kennedy has been more of a talker. In fact, just three weeks after the arguments, he appeared before Congress and said something that some observers viewed as possibly tipping his hand. He said, in a general sense and without mentioning the Affordable Care Act, that the judiciary should decide cases without worrying about external factors like congressional gridlock.

That comment spurred speculation that he might not have any qualms about dismantling Obamacare even though lawmakers might not ever come together to fix the law.

But even Adler, one of the legal minds behind the King challenge, said those comments didn't raise his hopes.

"Those comments in Congress were normal," Adler said. "I don't think anyone thinks the court's decision will be affected by Congress."

Join the conversation about this story »

NOW WATCH: Here's what it's like to have a drink with President Obama Reported by Business Insider 2 hours ago.

Health insurer Anthem bids $54 billion for Cigna

June 20, 2015, 4:05 pm

≫ Next: Anthem Proposes To Buy Cigna For $54 Billion

≪ Previous: The fate of Obamacare could reside in the hands of one of these 2 people

$

0

0

Anthem, which includes the Blue Cross, Blue Shield and Amerigroup brands, has raised its bid to bring about the move, which would be the latest step toward an expected consolidation among the biggest U.S. health-insurance companies. Reported by Seattle Times 2 hours ago.

Anthem Proposes To Buy Cigna For $54 Billion

June 20, 2015, 4:55 pm

≫ Next: 15 Ways to Retire Early

≪ Previous: Health insurer Anthem bids $54 billion for Cigna

$

0

0

NEW YORK (AP) — After getting the cold shoulder, U.S. health insurer Anthem Inc. said it's raising its offer to buy smaller rival Cigna Corp. for $54 billion, including debt.

Indianapolis-based Anthem said Saturday it's proposing $184 per share, about 31 percent of that would be in Anthem shares and the remainder in cash. The offer represents a premium to Cigna's stockholders of 18 percent over Cigna's closing stock price on Friday. It said the bid also represents a premium of more than 35.4 percent based on the closing price of Cigna's share on May 28 when industry merger talks began. The announcement comes as investors have been speculating for weeks about the possibility of a major acquisition in a sector where size is becoming increasingly critical. Health insurers also have been hoarding cash from recent strong quarters and doing little to tamp down merger talks. Last month, there were reports that another rival, Humana, Inc., was exploring a sale of itself. Some analysts predict that the nation's five biggest health insurance carriers, which also include Aetna and UnitedHealth Group, will eventually consolidate into three.

Anthem said it has been in talks with Cigna, based in Bloomfield, Connecticut, to explore a potential combination since August 2014 and said it made its proposal public because the companies have not been able to come to an agreement. The company also said it has submitted four written proposals since early June, and made previous offers of $174 per share and $178 per share, according to a letter written by Anthem's CEO Joseph Swedish to Cigna's board of directors that it made public Saturday. But Anthem said that a big stumbling block has been what role David Cordani, CEO of Cigna, is seeking to have at the combined companies.

In the statement, Anthem said that the combined company would be "an industry leader" with greater than $115 billion in annual revenue.

It noted Anthem and Cigna together "would gain meaningful diversification" covering about 53 million combined medical members and strong commercial, government, consumer and specialty franchises. It also cited Anthem's long standing Blue Cross and Blue Shield brand in 14 states and Medicaid footprint via its Amerigroup brand in 19 states.

Meanwhile, Cigna would bring its leadership position, broad geographic reach and national account presence as well as its expertise in many facets of the commercial market, Anthem said.

"This combination is the absolute best strategy for both organizations to maximize the potential and lead the transformation of the health care industry," said Swedish in a statement.

"We are disappointed that Cigna's insistence on uncommon governance demands has impeded the realization of this combination for shareholders and all stakeholders," he added.

Swedish said in the letter to the board that he would assume the CEO spot of the combined company and that he was prepared to have Cordani take on the role of president and chief operating officer and serve as co-chairman with him for two years. After Swedish steps down as CEO, however, there would be no guarantee that Cordani would take the CEO spot. Cigna's board has insisted that Cordani be immediately appointed CEO of the combined company, Swedish said.

Cigna's spokesman Matthew Asensio declined to comment.

The health care industry is facing intense pressure to squeeze out costs and find ways to capture opportunities arising from the Affordable Care Act. An ever-larger share of the companies' business is tied to government programs and the health law's exchanges, where cost-conscious individuals buy their own plans. Getting bigger also could give insurers increased leverage in negotiating rates with hospitals, many of which have expanded through their own mergers.

The big health insurers have long been expected by analysts to turn to mergers that will give them the heft to better compete as the industry evolves. And when The Wall Street Journal first reported last month that Humana is exploring a sale of itself, it became clear a consolidation effort in the industry was finally under way in earnest.

Cigna's shares closed down $1.15 per share to $155.25 Friday, while Anthem's shares were down 18 cents to $165.06.

_________

AP Business Writer Tom Murphy contributed to this report from Indianapolis.

-- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website. Reported by Huffington Post 56 minutes ago.

15 Ways to Retire Early

June 21, 2015, 7:10 am

≫ Next: Rick Perry: Texans without health insurance don’t matter because ‘that’s not how we keep score’

≪ Previous: Anthem Proposes To Buy Cigna For $54 Billion

$

0

0

By Lou Carlozo, Contributor

The word "retirement" and number "65" are as linked in the American psyche as "bacon and eggs." Then again, that all depends on how fast you want your eggs, right?

Retiring early -- or leaving the work force for the golf course, if you like -- might sound like an unattainable goal. That's especially true if you look at the challenge from a pure cash paradigm. But there are many ways to make it, so long as you take numerous approaches into account.

Yes, 65 is the standard -- but what's 21st century life all about if not exceeding standards? Here are 15 major financial and lifestyle moves you can make to achieve this goal.

*Related: Why You Don't Really Need a Million Dollars to Retire*
-1. Live Two to Three Times Below Your Means-
Sorry, folks: Simply skipping that $4 latte in the morning ain't gonna cut it. It takes a much more committed approach where "sacrifices" are viewed in a new light. "It's amazing when I work through the numbers that some people think manicures, landscapers and maids are a need," said Michael Chadwick, a certified financial planner and CEO of Chadwick Financial Advisors in Unionville, Conn.
-2. Redefine 'Comfortable Retirement'-
Less spending later constitutes the flip side of less spending now. If you imagine comfy retirement as a vacation home and monthly cruise ship trips, revisit that vision so you don't have to bleed cash -- but can still retire in style. Instead of two homes, for example, why not live in your vacation destination and pocket the principal from selling your primary residence?

*Keep Reading: 5 Ways to Test Your Retirement Readiness*
-3. Pay Off All Your Debt-
That's right, all of it. First: Is it time to pay off your home? You might not have the resources now to plunk down one huge check, but consider savvy alternatives such as switching from a 30-year to 15-year mortgage. Monthly payments aren't much higher, but the principal payoff is much greater. Second: Do the same with loans and credit cards, as high interest eats up income faster than termites chewing a log. A credit card balance of just $15,000 with an APR of 19.99 percent will take you five years to eradicate at $400 a month -- and you'll dish out a total of $23,764.48, the calculator on timevalue.com shows.
-4. Consider Overlooked Financial Resources-
While it's risky to count on unknowns such as an inheritance, you might have cash streams available outside the traditional retirement realm, said Jennifer E. Acuff, wealth advisor with TrueWealth Management in Atlanta. For example, "Understand your options with respect to any pensions you might be entitled to from current or previous employers."
-5. Invest Early and Aggressively-
If you're in your 20s and start investing now, you're in luck, said Joseph Jennings Jr., investment director for PNC Wealth Management in Baltimore. "Due to the power of compounding, the first dollar saved is the most important, as it has the most growth potential over time." As an example, Jennings compares $10,000 saved at age 25 versus 60. "The 25-year-old has 40 years of growth potential at the average retirement age of 65, whereas $10,000 saved at age 60 only has five years of growth potential."
-6. Married Couples: Play Retirement Account Matchmaker-
The wisdom of taking advantage of a company match on the 401(k) is well established -- but think about how that power is accelerated if a working couple does it with two such company matches. "If your employer has a matching contribution inside of your company's plan, make sure you always contribute at least enough to receive it," said Kevin J. Meehan, regional president-Chicago with Wealth Enhancement Group. "You are essentially leaving money on the table if you don't."
-7. Practice Sound Cash Flow Management-
The methodology is simple, yet the results can be profound: Put money at least monthly into systematic investments during your working years. "There's no other element of investment planning or portfolio management that's more essential over the long term," said Jesse Mackey, chief investment officer of 4Thought Financial Group in Syosset, N.Y.
-8. Jump on Employer Stock Purchase Plans-
How about some free money? The ESPP typically works by payroll deduction, with the company converting the money into shares every six months at a 15 percent discount. If you immediately liquidate those shares every time they're delivered, it's like get a guaranteed 15 percent rate of return," said Dave Yeske, managing director at the wealth management firm Yeske Buie and director of the financial planning program at Golden Gate University. "Add the after-tax proceeds to your supplemental retirement savings."
-9. Start That Retirement Account Today-
That is, the earlier the better. Millennials who kick off retirement accounts early will reap big rewards later. A 25-year-old who socks away $4,000 a year for just 10 years (with a 10 percent annual return rate) will accrue more than $883,000 by the time she turns 60. Now then: Can't you just taste those pina coladas on the beach?
-10. Plan Smart Vacations and Travel -- and Invest the Difference-
There's no sense in depriving yourself of every single thing, especially well-deserved time off. But Yeske points out that you can save a ton in 150 countries through a service called HomeExchange.com. "My wife and I have stayed for free in London, Amsterdam, New York and Costa Rica," he said. "And when you're staying in someone's home or apartment, you don't have to eat out at a restaurant for every meal, so your food costs nothing more than if you were at home."
-11. Don't Let Your Money Sit Idle-
To get to an early retirement, you have to periodically revisit your IRA, 401(k) or other retirement account to make sure your money doesn't grow cobwebs. For example, the way your retirement account is diversified shouldn't put too much emphasis on low-yield investments -- such as money market funds and low-yielding bonds. "Dividends can pile up in the money market account, typically earning one one-hundredth of a percent," Yeske said. "Make sure your cash is invested properly."
-12. Hop off the Hedonic Treadmill-
In this curse of consumerism, you buy something expensive, feel excited and then scout for something else to purchase when the "new car smell" wears off. And it's a huge trap if you want early retirement, said Pete, a finance blogger who retired in his 30s. Another advantage: "Here in the rich world," he wrote at MrMoneyMoustache.com, "the only widespread form of slavery is the economic type."
-13. Look for Passive Sources of Income-
Early retirement doesn't necessarily mean retiring all of your income, especially if you find ways to bring in money without hard work. Investing in rental properties is one way you can create a cash flow stream -- and you can minimize the labor by hiring a property manager. Or: Set up an internet sales business and hire a part-timer to fulfill orders and track stock based on volume.
-14. Enlist in the Armed Forces-
Here's an alternative way to get to "At ease, men." By serving in the military, you can also serve yourself. Members commonly retire after 20 years, living off generous pensions and health insurance. Even though President Obama in March proposed sweeping changes to military retirement and health benefits, earlier-than-normal retirement should still remain an option for many men and women in uniform.
-15. Hit the Road or Go Jump in a Lake, Indefinitely-
Some middle agers are selling the bulk of their possessions -- including the home -- and moving into tricked-out mobile homes and houseboats. These options also open the door to a life of leisure travel and can eliminate major expenses, such as property taxes and mortgage payments.

If you think of retiring early as simply walking away from everyday life -- and thus a pipe dream -- it's time to take a step back and look at how others have done it. You might enjoy your job immensely and have friends in the trenches with you. But if work is taking too much away from your family time, community bonds, overall health and peace of mind, you might do well to consider one of the smartest alternative investments of all: yourself.

*Read More From GOBankingRates:*
· 25 Ways to Double Your Paycheck in One Month· 8 Crazy Things Clients Tell Their Financial Planners· 31 Best Websites for Getting Free Stuff
This article originally appeared on GOBankingRates.com: 15 Ways to Retire Earlier

-- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website. Reported by Huffington Post 16 hours ago.

Rick Perry: Texans without health insurance don’t matter because ‘that’s not how we keep score’

June 21, 2015, 7:58 am

≫ Next: As Supreme Court weighs Obamacare, these Americans weigh their options

≪ Previous: 15 Ways to Retire Early

$

0

0

Republican presidential candidate Rick Perry suggested over the weekend that he was not concerned with the high rates of uninsured Texans because “that’s not how we keep score” on health care. Fox News host Chris Wallace pointed out to Perry on Sunday that his campaign had promised... Reported by Raw Story 15 hours ago.

---

As Supreme Court weighs Obamacare, these Americans weigh their options

June 21, 2015, 7:51 am

≫ Next: Are You Ready for This Massive Obamacare Threat?

≪ Previous: Rick Perry: Texans without health insurance don’t matter because ‘that’s not how we keep score’

$

0

0

The King v. Burwell lawsuit, which the Supreme Court is expected to rule on by the end of June, could potentially void the subsidy tax credits that help  several million Americans buy health insurance. Reported by Christian Science Monitor 15 hours ago.

Are You Ready for This Massive Obamacare Threat?

June 21, 2015, 10:10 am

≫ Next: Anthem takes its $54 billion Cigna bid to the public

≪ Previous: As Supreme Court weighs Obamacare, these Americans weigh their options

$

0

0

The Supreme Court will soon decide whether subsidies to people buying health insurance in states without their own exchange is legal. Reported by Motley Fool 13 hours ago.

Anthem takes its $54 billion Cigna bid to the public

June 21, 2015, 10:53 am

≫ Next: Who Said It?

≪ Previous: Are You Ready for This Massive Obamacare Threat?

$

0

0

Health insurance provider Anthem wants to take over Cigna, and now it's upping the pressure. Reported by CNNMoney 12 hours ago.

Who Said It?

June 21, 2015, 1:22 pm

≫ Next: Cigna Rejects an Overture From Anthem

≪ Previous: Anthem takes its $54 billion Cigna bid to the public

$

0

0

And now, a blast from the past. Guess who said it (source):



... *the long-term deficit and debt that we have accumulated is unsustainable. *We can't keep on just borrowing from China, or borrowing from other countries because part of it is, we have to pay interest on that debt. *And that means that we're mortgaging our children's future with more and more debt, but what's also true is that at some point they're just going to get tired of buying our debt. *And when that happens, we will really have to raise interest rates to be able to borrow, and that will raise interest rates for everybody -- on your auto loan, on your mortgage, on -- so it will have a dampening effect on the economy.

 

... So we are going to have to deal with our long-term debt. *As I said before, the biggest thing that we can do on that front is to deal with entitlements.  *

 

... Most of what's driving us into debt is health care. *And so we've got to drive down costs. *

 

*... * it's time for reform that's *built on transparency and accountability and mutual responsibility *-- values fundamental to the new foundation we seek to build for our economy*
*

 

... I will repeat again that my administration is going to seek to work with Congress to execute serious entitlement reform that preserves a safety net for our seniors, for people with disabilities, *but also puts it on a firmer, stable footing so that people's retirements are going to be secure not just for this generation, but also for the next generation*.



Incidentally, here is the CBO which showed just this past week what the "firmer, stable footing" looks like:

 

Don't know the answer? Here's a hint - it's the same person who said this in 2006:



*The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies.*
 
Over the past 5 years, our federal debt has increased by $3.5 trillion to $8.6 trillion. That is “trillion” with a “T.” That is money that we have borrowed from the Social Security trust fund, borrowed from China and Japan, borrowed from American taxpayers. And over the next 5 years, between now and 2011, the President’s budget will increase the debt by almost another $3.5 trillion.
 
Numbers that large are sometimes hard to understand. Some people may wonder why they matter. Here is why: This year, the Federal Government will spend $220 billion on interest. That is more money to pay interest on our national debt than we’ll spend on Medicaid and the State Children’s Health Insurance Program. That is more money to pay interest on our debt this year than we will spend on education, homeland security, transportation, and veterans benefits combined. It is more money in one year than we are likely to spend to rebuild the devastated gulf coast in a way that honors the best of America.
 
And the cost of our debt is one of the fastest growing expenses in the Federal budget. *This rising debt is a hidden domestic enemy, robbing our cities and States of critical investments in infrastructure like bridges, ports, and levees; robbing our families and our children of critical investments in education and health care reform; robbing our seniors of the retirement and health security they have counted on.*
 
Every dollar we pay in interest is a dollar that is not going to investment in America’s priorities.



Still confused? The answer, of course, is this person. Reported by Zero Hedge 10 hours ago.

Cigna Rejects an Overture From Anthem

June 21, 2015, 2:36 pm

≫ Next: Health insurer Cigna rejects Anthem's $54-billion takeover bid

≪ Previous: Who Said It?

$

0

0

Anthem’s $47 billion takeover bid for Cigna comes as companies look to become even bigger to take advantage of the changes in the health insurance market. Reported by NYTimes.com 8 hours ago.

Health insurer Cigna rejects Anthem's $54-billion takeover bid

June 21, 2015, 5:05 pm

≫ Next: California's Obamacare exchange to collect insurance data on patients

≪ Previous: Cigna Rejects an Overture From Anthem

$

0

0

In a fiery response, Cigna Corp. rejected a $54-billion takeover bid from Anthem Inc. and unleashed several criticisms of the health insurance giant. Reported by L.A. Times 6 hours ago.

California's Obamacare exchange to collect insurance data on patients

June 21, 2015, 5:33 pm

≫ Next: The Surprising Reason So Many People Still Don't Like Obamacare

≪ Previous: Health insurer Cigna rejects Anthem's $54-billion takeover bid

$

0

0

California's health insurance exchange wants to know why you got sick this summer. Reported by L.A. Times 5 hours ago.

---

The Surprising Reason So Many People Still Don't Like Obamacare

June 21, 2015, 5:44 pm

≫ Next: Pacific Prime Singapore releases third part of cost of health insurance report

≪ Previous: California's Obamacare exchange to collect insurance data on patients

$

0

0

The Supreme Court could issue a ruling in King v. Burwell, the lawsuit threatening to undermine a key part of the Affordable Care Act, as early as Monday. But the debate over President Barack Obama's controversial health care law is likely to continue no matter how the justices rule. And one reason is that Americans, on the whole, remain deeply ambivalent about it.

While the popularity of "Obamacare" has fluctuated a bit in the five-plus years since it became law, the amazing thing is how little public opinion has changed. Roughly speaking, a little more than 40 percent of Americans approve of the law, while around 50 percent disapprove -- though the precise numbers vary a bit from survey to survey. The public doesn't support repealing the law, as Republicans would prefer, and at least some people disapprove of the Affordable Care Act because they like the idea of it but wish it went further. But Americans have not wholeheartedly embraced the law, as its proponents have long hoped.The ACA's critics, who throw around words like "debacle" and "train wreck," say these tepid polling results are proof that people directly affected by the law don't like it. But a review of recent polling, plus some statistical calculations performed at the Huffington Post's request by researchers at the Henry J. Kaiser Family Foundation, which studies national health policy, suggest two other factors are driving public perceptions.

The first and more obvious factor is partisanship. No single characteristic better predicts how a person feels about the health care law than his or her partisan affiliation. Republicans tend to think the law is a failure, while Democrats tend to think it's a success -- most likely because they are reacting to the party leaders and news sources they trust and distrust and because they have genuine philosophical differences about the law's virtues.
The other factor is the changes that people see in their health insurance every day -- changes that often have nothing to do with the Affordable Care Act. Many of the problems that spark complaints about Obamacare, such as rising out-of-pocket costs, might be worse if the law did not exist.

Here's a breakdown of the data.

*1. Cancellations and "rate shock" made one group of people very angry.*

The Affordable Care Act rewrote the rules for private insurance that people buy directly, rather than through employers, in order to make coverage more comprehensive and more widely available. That raised the underlying costs of these policies, since previously carriers could sell plans that left out key benefits (like prescription drugs or mental health) or simply refuse insurance to people who already had medical problems.

Insurers responded by canceling the old plans, charging higher premiums to some existing customers or some combination of the two. To offset the higher prices of policies available through Obamacare the law offers tax credits, but those credits are worth less to people with higher incomes. That's a big reason why Kaiser's surveys show that, among people buying coverage on their own, people who lost their old plans were the most likely to say that the law had negatively affected them.

*2. But cheaper, better coverage made another group (probably a larger one) very happy.*

The dismay of people angry over higher premiums got all the press when the Affordable Care Act's coverage expansion first took effect. But the overwhelming majority of people buying coverage through the law's new exchanges, who likely make up more than half of all people buying coverage on their own, say they are pleased with the policies they've gotten.

A recently released Commonwealth Fund survey found that 81 percent of those enrolled in health plans through the Obamacare marketplaces are very or somewhat satisfied with their insurance. Similarly, a Kaiser Family Foundation poll of people in the non-group market finds 74 percent of those enrolled in ACA-compliant plans rate their coverage as excellent or good.

The same surveys find these Americans happy with their quality of benefits and access to physicians, despite all of the complaints about "narrow networks" of providers. Most are also are satisfied with the premiums they are paying, undoubtedly because tax credits discount the price deeply for so many of them.

*3. And most people haven't been directly affected by Obamacare at all.
*

The bigger reason to doubt that firsthand experience is having a big effect on public opinion is that the law simply hasn't touched that many people in ways they are likely to detect. Remember, the parts of the law that get by far the most attention -- the tax credits, the rules about pre-existing conditions -- affect only the "non-group" market.

Estimates on the size of this market vary, but the number is probably somewhere between 10 and 20 million people. That's less than 10 percent of the population. Most people get coverage through employer-sponsored insurance, Medicare and Medicaid -- which have changed, but largely in ways that would be invisible to most consumers, at least for now.

*4. Politics is a huge factor.*

The most telling sign about the influence of politics is that even among Americans surveyed in the non-group market -- the roughly 10 percent of the population most directly affected by the ACA -- partisanship was the most important driver of opinions on the law, according to a regression analysis that researchers at the Kaiser Family Foundation performed for HuffPost.

Overall, 64 percent of Democrats in the non-group market rate the ACA favorably, compared to just 19 percent of Republicans. Once the Kaiser researchers controlled for party affiliation in their analysis, none of the other factors they tested -- including demographics, health status and the characteristics of their insurance -- turned out to be significant predictors of a person's overall ratings of the ACA.

This is consistent with other survey results, including a detailed poll from Vox several months ago that documented widely different perceptions among Democratic and Republican respondents.

*5. But partisanship alone isn't the whole story.*

Powerful as it is, the continuing partisan divide cannot tell the entire story. If it did, then the health care law would have a net positive rating, since more Americans identify or lean Democratic than Republican. When Kaiser researchers -- again, at HuffPost's request -- tallied more than 8,000 interviews they'd conducted over the course of the year they found that intensity of opinion is much stronger among Republicans than Democrats and that Republicans are more likely to rate the law unfavorably than Democrats are to rate it favorably.

*6. If it's health care, people assume it's Obamacare.*

So what's the mystery factor? The best guess is that people are holding the law responsible for all of the problems of the health care system -- including those like rising deductibles, narrowing hospital networks, or even long waits at the doctor's office that most experts believe have little or nothing to do with the law itself.

Maybe the single best example of this is the reaction to rising costs that polls have detected, especially among those largely unaffected by the changes to insurance mandated by the ACA. In the March Kaiser tracking survey, just over a third of Americans with employer-sponsored insurance reported that the new law had "directly hurt" (24 percent) their families. Why? On a follow-up question, most respondents -- including 30 percent of all Republicans, 15 percent of independents and 6 percent of Democrats -- said it was because the law "increased your health care or health insurance costs."

But insurance premiums go up every year. That was true before the ACA became law and it remains true after. And since the law's enactment they've actually risen more slowly than before. The historically low inflation is actually one of the most remarkable developments in health care today. And while economists debate over what role, if any, the health care law has played in this progress, there's no compelling evidence that the law has made employer insurance premiums -- the premiums most people see -- rise more quickly.

Similarly, out-of-pocket costs really are rising and they are rising more quickly than wages, which is a big reason why people feel their impact. The law's critics frequently complain about rising deductibles, as if the law were responsible for them -- citing, among other things, a recent Commonwealth Fund report on the increases in out-of-pocket costs for consumers. But as Sara Collins, a vice-president of the Fund and co-author of that study, told HuffPost, "the trend in higher deductibles began well before the Affordable Care Act... the trend is entirely separate from the Affordable Care Act." In fact, for people buying coverage on their own, the law sets limits on out-of-pocket expenses that insurers can charge -- something that many plans lacked before.

In retrospect, it's not surprising that so many people assume the Affordable Care Act is to blame (or, in some cases, to thank) for the changes they are seeing. By enacting such sweeping legislation, Obama and his allies tied their law to everything that happens in health care -- good and bad and in between. And by largely avoiding changes that affect most Americans, they gave most people little reason to doubt the cues they get from the news and their partisan leaders.

Most people don't have the time to think through historical counterfactuals -- to imagine what life would be like if the law had never passed, its protections did not exist and health care costs were rising as quickly as they did previously. In much the same way, few people stop to think what might happen if they got really sick and needed insurance to cover potentially catastrophic bills. Even people who care about security tend to undervalue it, until crisis actually strikes.

Obama and his supporters like to say the law is working -- that it is helping way more people than it is hurting and that the benefits justify the costs. They have plenty of evidence to cite in their defense. That doesn't mean the public will believe them.-- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website. Reported by Huffington Post 5 hours ago.

Pacific Prime Singapore releases third part of cost of health insurance report

June 21, 2015, 7:06 pm

≫ Next: Making the Economy Work for the Many and Not the Few #11: Medicare Isn't the Problem; It's the Solution

≪ Previous: The Surprising Reason So Many People Still Don't Like Obamacare

$

0

0

Pacific Prime Singapore releases third part of cost of health insurance report with an analysis of different regions around the world, focusing on Asia.

Singapore (PRWEB) June 22, 2015

One of Singapore’s top health insurance brokers, Pacific Prime Singapore, has released the third article of their three part report on the cost of health insurance. Titled: The cost of health insurance in different regions, this article takes the 94 countries included in the overall report and groups them by region to allow for a high-level comparison of the cost of international individual health insurance.

The countries included in the report are divided into five regions:
Asia
the Middle East
Africa
Europe
the Americas
with each region being sectioned into four demographic segments (Singles, Couples, Families, and Retirees). Each demographic segment has premiums presented by health insurance plan type:
Plan 1: Inpatient coverage
Plan 2: Inpatient + outpatient coverage
Plan 3: Inpatient + outpatient + maternity coverage

Each of these plan types includes a graph that allows for an easy, visual comparison of the premiums in each country included in the region; offered by the six health insurance providers. Beyond that, highlights for this article include:

The cost of individual health insurance in regions and countries popular with expats.

An in-depth analysis of each plan type in each demographic segment.

An overview at the beginning of each region.

Graphs that visually display premiums, allowing for readers to quickly find and compare premiums for their region and demographic of choice.

Olivier Zeller, Country Manager for Singapore, at Pacific Prime commented on the newly released article, “This part of the report provides expats, HR managers, and business owners considering a move to, or opening new operations in a new region, with a strong overview of what they can expect to pay for international health insurance plans. If you want to know the cost of health insurance in different countries, this is a great place to start.”

About Pacific Prime Singapore
Pacific Prime is the largest international health insurance broker in Asia. With close relationships with the industry’s top providers, award winning service, and offices in strategic locations, Pacific Prime is able to offer the best plans for expats, their families, and their companies.

With a staff of international experts, Pacific Prime works with you throughout the whole life cycle of your plan to ensure that you receive not only the best coverage, but also support for any medical emergencies through their claims department. Reported by PRWeb 4 hours ago.

Making the Economy Work for the Many and Not the Few #11: Medicare Isn't the Problem; It's the Solution

June 22, 2015, 5:58 am

≫ Next: Will One of the Health Insurance Mergers Get a Cold Shoulder?

≪ Previous: Pacific Prime Singapore releases third part of cost of health insurance report

$

0

0

Again and again the upcoming election you'll hear conservatives claim that Medicare -- the health insurance program for America's seniors -- is running out of money and must be pared back.Baloney. Medicare isn't the problem. In fact, Medicare is more efficient than private health insurance.The real problem is that the costs of health care are expected to rise steeply.Medicare could be the solution -- the logical next step after the Affordable Care Act toward a single-payer system.Please see the accompanying video -- #11 in our series on ideas to make the economy work for the many rather than for the few. And please share.Some background: Medicare faces financial problems in future years because of two underlying trends that will affect all health care in coming years, regardless of what happens to Medicare:The first is that healthcare costs are rising overall -- not as fast as they were rising before the Affordable Care Act went into effect, but still rising too quickly.The second is that the giant post­war baby boom is heading toward retirement and older age. Which means more elderly people will need more health care, adding to the rising costs.So how should we deal with these two costly trends? By making Medicare available to all Americans, not just the elderly.Remember, Medicare is more efficient than private health insurers ­­ whose administrative costs and advertising and marketing expenses are eating up billions of dollars each year.If more Americans were allowed to join Medicare, it could become more efficient by using its growing bargaining power to get lower drug prices, lower hospital bills, and healthier people.Allowing all Americans to join Medicare is the best way to control future healthcare costs while also meeting the needs of the baby boomer and other Americans.Everyone should be able to sign up for Medicare on the healthcare exchanges set up under the Affordable Care Act.This would begin to move America away from its reliance on expensive private health insurance, and toward Medicare for all - a single­ payer system.Medicare isn't a problem. It's part of the solution.

ROBERT B. REICH's film "Inequality for All" is now available on DVD and blu-ray, and on Netflix. Watch the trailer below:

-- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website. Reported by Huffington Post 18 hours ago.

Will One of the Health Insurance Mergers Get a Cold Shoulder?

June 22, 2015, 6:29 am

≫ Next: UAE Medical Insurance Teams with Pacific Prime to Release Final Part of a Report on the Cost of Health Insurance This Year

≪ Previous: Making the Economy Work for the Many and Not the Few #11: Medicare Isn't the Problem; It's the Solution

$

0

0

Reported by 24/7 Wall St. 17 hours ago.

UAE Medical Insurance Teams with Pacific Prime to Release Final Part of a Report on the Cost of Health Insurance This Year

June 22, 2015, 7:05 am

≫ Next: Third Part of Cost of Health Insurance Report Released by Pacific Prime China

≪ Previous: Will One of the Health Insurance Mergers Get a Cold Shoulder?

$

0

0

UMI in partnership with Pacific Prime releases third and final part to a report on the cost of health insurance, focusing on different regions including the Middle East.

Dubai, UAE (PRWEB) June 22, 2015

Over the past three months, UMI (a licensed division of Medstar, a wholly owned Pacific Prime subsidiary) has partnered with their parent company - Pacific Prime - to release a three part report on the cost of health insurance. Now they are excited to announce that the third part of the report has been released. Titled: The cost of health insurance in different regions, this part of the report takes the 94 countries and groups them into 5 regions:

The Middle East
Africa
Europe
the Americas
Asia

These five regions are further divided into four demographics (Singles, Couples, Families, and Retirees), with the premiums from six providers graphed according to one of three plan types:

Plan 1: Coverage for inpatient procedures
Plan 2: Coverage for inpatient and outpatient care
Plan 3: Coverage for inpatient, outpatient, and maternity care.

At each plan level, the premiums for the countries in the region have been included in an easy to read graph that allows for a visual comparison. This article of the report also includes:

Premiums for each plan level, demographic, and country.
An analysis at beginning of the report covering important information that helps further increase the reader’s understanding of the report.
In-depth analysis for each plan level.
Visual graphs that allow for easy comparison.

Colin Ward, Corporate Sales Director at UMI commented on the article, “By working with Pacific Prime to release this article, expats in Dubai and the greater UAE now have a useful tool that allows them to quickly and easily gain an understanding of what they can expect to pay for international health insurance in the region, and compare it with other countries. If you are living in Dubai or the UAE, and are considering opening a new office in, or moving to, another location, this report can be a big help when it comes time to secure a new health insurance plan.”

Article 3 of the report is available for free now from Pacific Prime’s Cost of Health Insurance Report site. Download it today. Reported by PRWeb 16 hours ago.