Chubb Launches Marine Service Capabilities in China

September 1, 2016, 9:41 pm

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Chubb Launches Marine Service Capabilities in China

SHANGHAI, Sept. 2, 2016 /PRNewswire/ -- Chubb announced today the launch of its marine service capabilities in China, which include a broad range of specialized and customized insurance solutions to meet the needs of importers, exporters and transport operators. The new marine service capabilities were introduced to the local insurance community, including marine brokers and industry practitioners, at seminars in Shanghai and Beijing hosted by several members of Chubb management in China.

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Chubb's extensive marine service capabilities include:

· Project cargo and consequential loss insurance for engineering project freight movements of oversize, fragile or difficult to handle equipment;
· Multimodal freight liability, which provides customized protection for cross-border logistics companies;
· Enhanced annual cargo insurance product for domestic and international shippers;
· A risk management product that targets marine accounts with higher loss frequency based on a risk sharing structure between the shipper and insurer;
· CargoAdvantage™, a user-friendly web-based facility to quote and issue marine insurance certificates to exporting and trading customers;
· Fine art and valuable goods insurance supported by dedicated fine art and specie underwriting and risk management teams;
· Shipment insurance for higher volume and lower value deliveries.

Andrew Williamson, Head of Marine for Chubb Overseas General, the company's international general insurance operations, said, "In today's global commerce environment, China's trading and shipping industry is demanding specialized and customized marine insurance solutions. Exporters and importers require broad protection and global risk management support. At the same time, multimodal transport operators need web-based cargo insurance, as well as special arrangements for nominated contracts or increased indemnities, to offer shippers full value protection. Our China team can now offer a comprehensive multimodal freight liability product plus web-based and tailored solutions for cargo insurance."

According to Song Wei, Chubb's Head of Marine for China,"As one of the largest cargoinsurance and marine hull insurance markets in the world, China plays an increasingly important role in the global marine insurance market. With continued growth of overseas investment by Chinese enterprises and the government's 'One Belt, One Road' initiative, there is strong potential for growth for marine insurance locally. With Chubb's deep underwriting experience in marine insurance coupled with local market expertise, we can provide bespoke insurance solutions and risk management services to clients who want a partner they can trust."

Participating in the launch events to provide the global, regional and local perspectives of Chubb's marine service capabilities were: Mr. Williamson; Anthony O'Brien, Regional Manager Marine, Asia Pacific; Tiphaine Le Coarer, Deputy e-Cargo Insurance and Freight Liability Underwriter and Risk Manager, Asia Pacific; and Mr. Song Wei.

*About Chubb*

Chubb is the world's largest publicly traded property and casualty insurance company. With operations in 54 countries, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. As an underwriting company, we assess, assume and manage risk with insight and discipline. We service and pay our claims fairly and promptly. The company is also defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London and other locations, and employs approximately 31,000 people worldwide. Additional information can be found at: new.chubb.com.

In 1994, Chubb set up its first representative office in China. A branch company was subsequently established in 2000 in Shanghai, which was converted to a wholly owned subsidiary upon the approval of the China Insurance Regulatory Commission. The company currently has three operations in Shanghai, Jiangsu and Guangdong provinces, with plans to commence operations in other regions in the near future. Reported by PR Newswire Asia 3 hours ago.

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Apollo Munich Health Insurance Bags ‘Best Health Insurance Plan’ Award at FICCI Healthcare Excellence Awards 2016

September 2, 2016, 12:43 am

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Apollo Munich Health Insurance Bags ‘Best Health Insurance Plan’ Award at FICCI Healthcare Excellence Awards 2016

Leading standalone health insurer - *Apollo Munich Health Insurance* has won the *‘Best Health Insurance Plan’* award for its innovative product - *Dengue Care,* at the *FICCI Healthcare Awards 2016*. Dengue Care has been recognized as the Best Health Insurance Plan in 2016 for its unique *Over-The-Counter (OTC) feature,* as well as for its simple three click process and pre-filled forms for existing customers, thus making it one of the simplest insurance covers for anyone to buy. The FICCI jury also recognized Apollo Munich’s interactive game *‘Kill the Killer’* as an innovative consumer engagement at the awards. ‘Kill the Killer’ game can be played on Apollo Munich’s homepage www.apollomunichinsurance.com .

*From L-R:* *Ms. Shobha Mishra Ghosh* - Senior Director, FICCI; *Dr. Nandakumar Jairam* - Chair, FICCI Health Services Chairman & Group Medical Director, Columbia Asia Hospital; *Ms. Sangita Reddy* - Joint MD, Apollo hospitals Group (Guest of Honour); *Mr. K B Agarwal *- Additional Secretary, Ministry of Health and Family Welfare, GoI; *Dr. Sanjay Jaiswal *- Member of Parliament, Lok Sabha (Chief Guest); *S.Y. Quraishi*, ex-Chief Election Commissioner of India; *Dr. Bhabatosh Mishra*, Executive Vice President, Underwriting, Apollo Munich Health Insurance; *Dr. Nandini Ali*, Executive Vice President, Marketing, Apollo Munich Health Insurance.

*Apollo Munich’s Dengue Care* is the only plan in India that offers a standalone indemnity cover for the most widespread viral disease - Dengue, *A value for money health insurance policy,* Dengue Care covers both hospitalization and outpatient / homecare treatment for dengue. It is available at a very affordable *one-time premium of Rs 444/-* that means Rs. 1.20 per day and provides Rs. 50,000/- inpatient and Rs. 10,000/- outpatient / homecare coverage. Dengue Care also offers a higher sum insured variant of Rs. 1 lakh at a premium of Rs. 578/-.

For more details, visit www.apollomunichinsurance.com/dengue-care-premium-calculator.aspx

On winning this prestigious award, *Antony Jacob, Chief Executive Officer, Apollo Munich Health Insurance, *said, ‘Innovation has been in Apollo Munich’s DNA since inception. We are elated to win yet another award for our innovative products. Bagging the ‘Best Health Insurance Plan’ award for Dengue Care by an esteemed body like FICCI, is a testament to our research and development team that strives to seek new ways of providing insurance cover to the underinsured across the country. Our aim through Dengue Care was to provide an economical financial aid solution to help people avail quality healthcare services, in case they get infected with dengue virus.”

*The 8^thedition* of the *FICCI Healthcare Excellence Awards 2016* is supported by the *Quality Council of India* that aims at felicitating organizations and individuals for their efforts towards operational excellence, innovatively adopting and inventing technologies and processes for India, and improved healthcare delivery. The FICCI Awards have emerged as the definitive recognition for contribution to healthcare in the country over the years.

*About Apollo Munich Health Insurance Company*

Apollo Munich offers innovative and award-winning health, personal accident and travel insurance plans, with state-of-the art infrastructure and uncomplicated services, delivered by engaged employees. It is a joint venture between the Apollo Hospitals Group, Asia’s largest healthcare group, and Munich Health, Munich Re’s health business segment, which offers global health insurance and reinsurance excellence.

*For more information,* please visit www.apollomunichinsurance.com . Reported by NewsVoir 9 minutes ago.

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Pharmaceutical Industry Defends P&T Committee Anonymity in AIS Newsletter

September 2, 2016, 5:05 am

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In the wake of recent scrutiny, executives from PBMs and other experts tell Atlantic Information Services’ Drug Benefit News that the practice of hiding the identities of pharmaceutical & therapeutic committee members protects formularies from external influence and keeps the process ethical.

Washington, DC (PRWEB) September 02, 2016

The routine practice of hiding the identity of pharmacy and therapeutics (P&T) committee members, who recommend what drugs should be on a plan or PBM’s formulary, has recently come under fire, with critics arguing that the public should be able to see what contributions committee members have gotten from pharmaceutical companies and other sources. But, making the names of P&T committee members public knowledge would actually invite external pressures, PBM executives and others tell Atlantic Information Services’ Drug Benefit News in its Aug. 26 issue.

David Lassen, Pharm.D., chief clinical officer at Prime Therapeutics, tells DBN that the company routinely provides the contact information of their P&T committee members to government agencies and health care accrediting bodies. In his view, making these names public knowledge “would not improve patient care. Rather, it would invite unwarranted pressure from external organizations that have the capacity to inappropriately influence the unbiased nature of the established decision making process.”

Even though the committee members are anonymous, the process is still transparent, Express Scripts spokesperson Jennifer Luddy tells DBN. “The meeting minutes are available to our clients, and our clients also are able to attend the meetings. The public anonymity of the committee members ensures that these leading physicians aren’t influenced by well-funded pharmaceutical manufacturers.”

Express Scripts also has a procedure in place to detect potential conflicts of interest. “Every two months, members are required to disclose any financial connection to a manufacturer, and then the rest of the committee decides whether or not that appearance of conflict may in some way influence the vote,” Luddy says. “In the rare instances of a potential conflict, that member may be asked to step down from the committee or recuse himself/herself from voting on products related to the specific manufacturer. When this happens, the committee will consult with non-conflicted physicians in the relevant specialty when reviewing the clinical merits of a particular medication.”

Visit http://aishealth.com/archive/ndbn082616-01 to read the article in its entirety.

About Drug Benefit News
Published biweekly, Drug Benefit News delivers timely news and in-depth accounts of cost management strategies being employed by purchasers. Coverage includes news of the continually evolving PBM landscape, soaring specialty pharmacy costs, the emerging biosimilars market, generic inflation, exclusionary formularies, new adherence strategies, pharmacy network innovation, changing reimbursement methodology and more. Visit http://aishealth.com/marketplace/drug-benefit-news for more information.

About AIS
Atlantic Information Services, Inc. (AIS) is a publishing and information company that has been serving the health care industry for nearly 30 years. It develops highly targeted news, data and strategic information for managers in hospitals and health systems, health insurance companies, medical group practices, purchasers of health insurance, pharmaceutical companies and other health care organizations. AIS products include print and electronic newsletters, databases, websites, looseleafs, strategic reports, directories, webinars, virtual conferences and training programs. Learn more at http://AISHealth.com. Reported by PRWeb 20 hours ago.

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Apple, Taxes, And The Social Contract Of Global Corporate Citizens

September 2, 2016, 8:39 am

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Is Apple avoiding paying its share of taxes? And why should I care?

In light of this week’s news that the EU wants Apple to pay $14 billion in back taxes to Ireland, it is a good time to consider how a company’s tax strategy affects its ability to fulfill its social contract as a global corporate citizen. And more broadly, how companies’ tax strategies might impact the ability of the capitalist system to fulfill its potential to create a more shared and durable prosperity for all.

As a global nonprofit that certifies businesses that meet the highest standards of positive overall social and environmental impact (called B Corporations), B Lab has had to think through this important and complex issue, acknowledging that there are no black-and-white answers. We offer up B Lab’s Framework for Evaluating Tax Strategies as a starting point for an important public conversation and an invitation to others to help us further refine our thinking over time.

B Lab’s framework reflects both the role that taxes play in contributing to, and the value business receives from, a healthy society. In short:

The evaluation of a tax strategy should include whether 1) the amount of overall taxes paid over time appropriately reflects the actual amount of income generated by the business; and, 2) the amount of taxes paid over time in each jurisdiction appropriately reflects the actual operations of the business in that jurisdiction.

Before thinking about how the above framework might apply to Apple’s tax strategies, let’s back up a bit to understand why this issue is so important:

Businesses create value for society beyond the taxes they pay. Businesses create jobs ― preferably high quality jobs that offer dignity, a living wage and benefits to support a family, and the opportunity to find fulfillment and build assets for long term security. Businesses can provide access to basic goods and services as well those that improve our quality of life.

However, in addition to the many different aspects of value that business provides society, business has an obligation to contribute its share of taxes. This is because business exists within the context of society; its proper role is to serve society, not the other way around. Moreover, healthy businesses can only exist over the long term in a healthy society. A healthy society depends upon public expenditures made possible by taxes. These public expenditures benefit business in both direct and indirect ways. Examples include things like national defense, local law enforcement and the enforcement of contracts, transportation infrastructure, and education, but also things that more directly bolster economic activity like pensions, health insurance, and other income support. This means, in a fractured global tax system that inevitably has its cracks, the bar for *a tax strategy that fulfills social obligations should go beyond simply what is legal.*

Just as there are individuals and organizations who believe that outsourcing manufacturing overseas is bad corporate citizenship, there will certainly be those who believe the same thing about any tax management strategy that results in the reduction of corporate taxes through the recognition of revenues in lower tax jurisdictions. A thoughtful critic might say that a company could manage its business without routing its revenues through a low tax market, and therefore any reasons for setting up operations in another jurisdiction are just cover for avoiding taxes. This critique, from B Lab’s perspective, dismisses legitimate business choices that include the appropriate management of tax burden, but are distinguishable from more questionable tax avoidance schemes pursued by many companies.

Again, the distinction between tax management and tax avoidance is not always black and white.

Given these complexities, there ought to be public debate about the appropriate levels of taxation and the sources and uses of tax receipts, as well as regarding effective and responsible tax strategies. As a starting place, B Lab determined that certain tax strategies would require additional scrutiny for companies seeking certification as a B Corporation, including:
· Employing a “corporate inversion” where a company’s legal domicile is moved to a low/no-tax jurisdiction while material operations remain in its higher tax country of origin;· Employing a “Double Irish” tax strategy where corporate income can be effectively taxed nowhere;· Utilizing a “patent box” or other method to transfer intellectual property to a low/no-tax jurisdiction and licensing back the intellectual property to reduce/eliminate local taxes; or· Utilizing multiple shell entities or structures to reduce or minimize taxes
The public doesn’t yet know sufficient details of Apple’s tax strategy. Whether or not a company is seeking B Corp status, the public interest is served when we ask tough questions and demand thoughtful answers. And as details emerge for Apple, it is helpful to have a framework against which we can evaluate those answers.

And this isn’t just about Apple.

Many companies employ aggressive tax strategies. Asking companies to apply a framework for evaluating tax strategies will help well-intentioned CEOs and CFOs be more thoughtful about balancing the interests of their shareholders with the interests of society, help boards of directors provide better governance, and help all of us make more informed judgements about whether these companies are fulfilling their obligations as corporate citizens.

Tax avoidance is just one headline-grabbing reason why public trust in business is at an all-time low. If we want to rebuild trust in the capitalist system, we can start by giving business the frameworks and tools to demonstrate that they govern themselves to align their interests with those of society. If we want to fulfill the promise of capitalism to create a shared and durable prosperity, then indeed it is essential that business leaders set their sights higher than doing what is legal to doing what is responsible and even beneficial to society, not just their shareholders.

Asking good questions about taxes is one good place to start.

-- 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 17 hours ago.

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Who Benefits from Strong Unions? Everyone.

September 2, 2016, 7:03 am

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As we approach Labor Day, we should all remember the words of the late, great US Senator Paul Wellstone, "We all do better when we all do better." This clearly is the mission of the labor movement.

The story of unions is the story of America's middle-class. Unions have been essential in gaining safer working conditions, better wages and benefits, and empowering workers to have a seat at the table.

According to the Bureau of Labor Statistics data, union workers' wages are 27 percent greater than for non-union workers. Seventy-nine percent of unionized workers receive health insurance from their employers, compared to only 49 percent of non-union workers. Seventy-six percent of union workers have guaranteed defined-benefit pension plans, compared to only 16 percent of non-union workers. Eighty-three percent of union workers receive paid sick leave compared to only 62 percent of non-union workers.

There is no doubt that unions benefit working families, but since the 1970s, union membership has been in serious decline and we have seen wages stagnate. One of the root causes of declining wages is that workers' ability to join together and bargain for higher wages and better working conditions has been has been severely undermined. We have also seen targeted attacks against unions by Republicans all across the country including the passage of so-called "right to work" laws, which further lower wages and weaken workplace protections.

A new report released this week from the Economic Policy Institute (EPI) provides further evidence that the benefits of unions go way beyond their own members, by raising the wages of non-unionized workers as well. In fact, nonunion workers lose $133 billion annually due to the decline in unions, according to the report.

Traditionally, non-union employers needed to keep wages high in order to compete with union jobs. However, wage trends have shown the opposite is now true. Union jobs are now being forced to take lower wages to remain competitive in an economy dominated by non-union companies. It's become a race to the bottom at the expense of hard-working Americans.

But it doesn't have to be this way.

As we celebrate Labor Day this upcoming weekend, we must renew and refocus our efforts to strengthen our unions and ensure our economy works for middle class families, not just for shareholders and corporate bottom lines.

There are common-sense reforms we can enact to restore bargaining rights and safeguard a seat at the table for employees. This is why I introduced the Workplace Democracy Act with Senator Bernie Sanders, which would make it easier for workers to join unions and bargain for better wages, benefits, and working conditions.

We should also pass the WAGE Act, a bill I've cosponsored, which was introduced by Senator Patty Murray and Congressman Bobby Scott. This bill would triple the back-pay employers must pay to workers who are fired or retaliated against by their employers, regardless of immigration status.

Renewing our focus on the American worker also means fighting against the Trans-Pacific Partnership (TPP). Every time an American job is shipped out of the country due to bad trade deals, it pushes down the wages for workers in the United States.

While the American workforce faces many hurdles, we can continue building the middle class by strengthening the labor movement. When unions are strong, America is strong. They raise standards across all industries, increasing the wages of both unionized and non-unionized workers. And that leads to one thing -- that we all do better when we all do better.

-- 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.

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Who Benefits From Strong Unions? Everyone.

September 2, 2016, 8:08 am

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11 South Floridians charged in $175M insurance fraud

September 2, 2016, 9:25 am

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Of the 16 people charged in a massive alleged insurance fraud scheme, 11 hailed from South Florida. The U.S. Attorney’s Office for the Southern District of Florida announced the charges Thursday, detailing a complex alleged scheme built on prescription manufacturing, misrepresentations to health insurance providers, kickbacks and more. The co-conspirators were charged by information, as opposed to an indictment. Charges by information typically precede a plea agreement. The alleged scheme centers… Reported by bizjournals 16 hours ago.

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A.M. Best Affirms Ratings of Prudential Financial Inc. and Its Subsidiaries

September 2, 2016, 9:15 am

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A.M. Best Affirms Ratings of Prudential Financial Inc. and Its Subsidiaries

OLDWICK, N.J.--(BUSINESS WIRE)--A.M. Best has affirmed the financial strength rating (FSR) of A+ (Superior) and the issuer credit ratings (ICR) of “aa-” of the domestic life/health insurance subsidiaries of Prudential Financial, Inc. (PFI) (Newark, NJ) [NYSE: PRU]. Concurrently, A.M. Best has affirmed the ICR of “a-” of PFI and all existing issue ratings of the group. All domestic life/health subsidiaries of PFI are collectively referred to as Prudential. The outlook for each rating is stable. Reported by Business Wire 16 hours ago.

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Health insurance premiums to increase by 19% in Florida

September 2, 2016, 12:11 pm

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What’s the likelihood your health insurance premiums will go down next year? If you’re in Florida, highly unlikely. Premiums for Florida major medical plans will increase by an average of 19 percent on Jan. 1, according to a Friday announcement from the Florida Office of Insurance Regulation. That’s more than twice the increase reported last year , when premiums went up an average of 9.5 percent. The average increase is calculated from a sampling of 15 health insurance companies including… Reported by bizjournals 13 hours ago.

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2017 Obamacare health insurance rates to rise 19% in Florida

September 2, 2016, 2:17 pm

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Starting Jan. 1, premiums for Florida individual major medical plans in compliance with the federal Patient Protection & Affordable Care Act will go up an average of 19 percent, according to the state Office of Insurance Regulation. A total of 15 health insurers submitted rate filings for review in May. These rate filings consisted of individual major medical plans to be sold both on and off the exchange. The average approved rate changes on the exchange range from a low of -6 percent to a high… Reported by bizjournals 11 hours ago.

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BREAKING: Cigna reviewing plans to be sole offering on Obamacare exchange in Maricopa County

September 2, 2016, 2:42 pm

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Now that Phoenix Health Plans Inc. is bailing out of the Obamacare health insurance marketplace, Cigna Healthcare of Arizona Inc. is the only one left in Maricopa County. This gives Cigna access to 127,000 individuals who currently are enrollees of the Affordable Care Act's exchange in Maricopa County. But whether Cigna stays is yet to be seen. "As in past years, Cigna's participation in the public marketplace exchanges is contingent upon market conditions and approval of our regulatory filings,"… Reported by bizjournals 11 hours ago.

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This exclusive report reveals the ABCs of the IoT

September 3, 2016, 4:24 pm

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This exclusive report reveals the ABCs of the IoT

The Internet of Things (IoT) Revolution is picking up speed and it will change how we live, work, and entertain ourselves in a million ways big and small.

From agriculture to defense, retail to healthcare, everything is going to be impacted by the growing ability of businesses, governments, and consumers to connect to and control their environments:

· “Smart mirrors” will allow consumers to try on clothes digitally, enhancing their shopping experience and reducing returns for the retailer
· Assembly line sensors will detect tiny drops in efficiency that indicate critical equipment is wearing out and schedule down-time maintenance in response
· Agricultural equipment guided by GPS and IoT technology will soon plant, fertilize and harvest vast croplands like a giant Roomba while the “driver” reads a magazine
· Active people will share lifestyle data from their fitness trackers in order to help their doctor make better health care decisions (and capture discounts on health insurance premiums)

No wonder the Internet of Things has been called “the next Industrial Revolution.” It’s so big that it could mean new revenue streams for your company and new opportunities for you. The only question is: Are you fully up to speed on the IoT?

After months of researching and reporting this exploding trend, John Greenough and Jonathan Camhi of Business Insider Intelligence have put together an essential briefing that explains the exciting present and the fascinating future of the Internet of Things. It covers how IoT is being implemented today, where the new sources of opportunity will be tomorrow and how 17 separate sectors of the economy will be transformed over the next 20 years, including:

· Agriculture
· Connected Home
· Defense
· Financial services
· Food services
· Healthcare
· Hospitality
· Infrastructure
· Insurance

· Logistics
· Manufacturing
· Oil, gas, and mining
· Retail
· Smart buildings
· Transportation
· Connected Car
· Utilities

If you work in any of these sectors, it's important for you to understand how the IoT will change your business and possibly even your career. And if you’re employed in any of the industries that will build out the IoT infrastructure—networking, semiconductors, telecommunications, data storage, cybersecurity—this report is a must-have.

Among the big picture insights you’ll get from *The Internet of Things: Examining How the IoT Will Affect The World*:

· IoT devices connected to the Internet will more than triple by 2020, from 10 billion to 34 billion. IoT devices will account for 24 billion, while traditional computing devices (e.g. smartphones, tablets, smartwatches, etc.) will comprise 10 billion.
· Nearly $6 trillion will be spent on IoT solutions over the next five years.
· Businesses will be the top adopter of IoT solutions because they will use IoT to 1) lower operating costs; 2) increase productivity; and 3) expand to new markets or develop new product offerings.
· Governments will be the second-largest adopters, while consumers will be the group least transformed by the IoT.

And when you dig deep into the report, you’ll get the whole story in a clear, no-nonsense presentation:

· The complex infrastructure of the Internet of Things distilled into a single ecosystem
· The most comprehensive breakdown of the benefits and drawbacks of mesh (e.g. ZigBee, Z- Wave, etc.), cellular (e.g. 3G/4G, Sigfox, etc.), and internet (e.g. Wi-Fi, Ethernet, etc.) networks
· The important role analytics systems, including edge analytics, cloud analytics, will play in making the most of IoT investments
· The sizable security challenges presented by the IoT and how they can be overcome
· The four powerful forces driving IoT innovation, plus the four difficult market barriers to IoT adoption
· Complete analysis of the likely future investment in the critical IoT infrastructure: connectivity, security, data storage, system integration, device hardware, and application development
· In-depth analysis of how the IoT ecosystem will change and disrupt 17 different industries

*The Internet of Things: Examining How the IoT Will Affect The World* is how you get the full story on the Internet of Things.

To get your copy of this invaluable guide to the IoT universe, choose one of these options:

1. Purchase an ALL-ACCESS Membership that entitles you to immediate access to not only this report, but also dozens of other research reports, subscriptions to all 5 of the BI Intelligence daily newsletters, and much more. >> *START A MEMBERSHIP*
2. Purchase the report and download it immediately from our research store. >> *BUY THE REPORT*

The choice is yours. But however you decide to acquire this report, you’ve given yourself a powerful advantage in your understanding of the fast-moving world of the IoT.

Join the conversation about this story » Reported by Business Insider 9 hours ago.

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What Obamacare's Successes Should Tell Us About Its Failures

September 3, 2016, 8:56 pm

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It’s come to be known as Obamacare. Sometimes it seems more like O-drama-care.

Nearly a decade has passed since Democrats first began promoting the initiative that eventually became the Affordable Care Act. And at no point has their effort to reform America’s dysfunctional health care system gone easily. Passing the law was a struggle, and then implementing it was, too.

Now there are new problems. Many of the nation’s largest insurers say they are losing big money on the policies they sell through the program’s exchanges. Some of these companies have responded by jacking up rates. Others are dropping out of the markets altogether. Consumers who relied on these plans may have to pay more or switch plans next year, and they may not have many alternatives.

But the focus on what’s going wrong with Obamacare makes it easy to lose sight of what’s going right. The law has ended the insurance industry’s most pernicious practices, fostered improvements in the way doctors and hospitals deliver care and brought the number of Americans without coverage to a historic low. Some state markets appear to be working just fine, and at least a few insurers are making money.

The law’s achievements don’t make the problems any less real. But they do put those problems into perspective ― and suggest that fixing them is worthwhile.

*Obamacare’s Mounting Problems*

One way to make sense of the latest news is to think about two recent reports ― one that spotlights the bad news and one that highlights the good. The first, which the Henry J. Kaiser Family Foundation conducted in conjunction with the Wall Street Journal, examines the exchanges and how many insurers have committed to offering plans through them. The exchanges are where people without access to employer coverage or public programs like Medicare can buy insurance, taking advantage of generous tax subsidies that vary based on income.According to the Kaiser report, about 19 percent of people buying coverage through exchanges next year will have just one choice of insurer. (The figure could change but is unlikely to do so dramatically.) This is a dramatic increase from last year, when just 2 percent of people buying coverage through the exchanges had could only pick one insurer. The number of people who can choose from only two carriers, rather than more, is also likely to rise next year.

These findings are consistent with other recent analyses, including ones that appeared in Vox and at The New York Times’ The Upshot. And together they paint a worrisome picture.

The big national insurers say they are losing money on Obamacare because the premiums they are collecting aren’t sufficient to cover the medical bills of the people they are enrolling. A big reason for this is that, so far, people in relatively good health ― the ones whose premiums pay for the bills of the sick ― haven’t signed up in the numbers that these carriers expected. Insurers won’t sustain such losses indefinitely, which is one reason why insurers like Aetna are leaving some markets altogether and others are raising premiums, sometimes dramatically.

*What’s Going Right?*

But in states like California, the markets appear to be functioning well. And although companies like Aetna are taking losses on their Obamacare plans, companies like Florida Blue and Centene are doing well with theirs ― a sign, perhaps, that in some states the insurer shake-out is simply by-product of the leanest competitors prevailing.

Meanwhile, the law has already transformed millions of lives for the better. This is the story of that second report, which Gallup published this past week. It shows that the proportion of Americans without health insurance is down to 10.8 percent of adults, the lowest since Gallup’s tracking began in 2008, when the figure was 14.8 percent. And the proportion of adults who had trouble paying for health care or medicine in the last 12 months has also declined to the lowest figure that Gallup has recorded: 15.5 percent. In 2008, it was 19.7 percent.Other studies have come to the same conclusion as Gallup. They are a reminder that, while Obamacare consumers in some parts of the country will have fewer choices next year, few choices is still better than no choices ― and that’s what millions of people with pre-existing conditions or low incomes had before the health care law came along.

Meanwhile, predictions that Obamacare would wreck the economy or cause the budget deficit to explode have proven spectacularly wrong. Perhaps the most surprising development is that, nationwide, health care spending is rising at a historically low rate. The health care law may or may not have played a role in this slowdown. But before passage, skeptics of President Barack Obama’s health reform agenda were sure it would have the opposite effect ― and that clearly has not happened.

It’s easy to get carried away with the law’s successes, just as it’s easy to make too much of its failures. Tens of millions still have no insurance and even some of those with coverage still struggle with medical bills. Insurers had to raise premiums once they could no longer deny coverage to people with pre-existing medication conditions, which is why millions of relatively healthy people who don’t benefit from the law’s tax credits are paying more for coverage than they would have otherwise.

*What Happens Next?*

Exactly how the law will evolve over the next few years is impossible to say right now. The best-case scenario is that enrollment will continue to grow, with healthy people signing up in relatively greater numbers, so that the marketplaces become more attractive to insurers. Premiums could settle, maybe as soon as next year, if this year’s increases represent the equivalent of a market correction ― basically, insurers making up for some early underpricing and setting premiums where they should have been all along.

The worst-case scenario is that insurers continue to flee and premiums continue to rise. The law’s subsidies would probably prevent a true insurance “death spiral,” since they guarantee that lower-income people will continue to find coverage attractive, but it’s easy to imagine a scenario where significant swaths of the country have just one insurance option, with premiums so high that most people ineligible for financial assistance decide it’s not worth the money.

Anything between those extremes is possible, and across the country the story is likely to play out in very different ways. For all discussion of Obamacare as a single program, it actually created 51 different insurance markets, one for each state plus the District of Columbia. The market is also developing in some unpredictable ways, as the most successful plans are increasingly the ones with “narrow networks” of doctors and hospitals. The plans are popular because they are cheap, which is what most people want.

Narrow networks can be a sign of efficiency, because they can mean insurers are coordinating care among small groups of providers (the way plans like Kaiser Permanente do) or demanding steep discounts from doctors and hospitals. But narrow networks can also cause hardship if insurers design them in ways that deny the chronically ill access to speciality care they need ― or lead to high, unexpected charges for seeking care outside networks.

Going forward, politicians face a pretty simple choice. One possibility is to work on improving the system, on the theory that reorganizing health insurance markets was bound to be an ongoing, difficult process. Just this week, the Obama administration proposed changes to the formula for Obamacare’s “risk adjustment” system, in which the plans that attract unusually healthy enrollees subsidize the ones that attract unusually unhealthy ones. It’s the latest in a series of proposals to shore up the markets.

Other fixes, such as boosting financial assistance to make plans more attractive, would require passing new legislation ― something the federal government has done before, with programs like Medicare Advantage, when they ran into trouble. And in a traditional political environment, Democrats and Republicans could easily find a compromise, with reforms that each side favors ― and maybe a little extra money, since the program as a whole has come in well under budget. Next year’s agenda already includes health care legislation, including reauthorization of the Children’s Health Insurance Program and the scheduled restart of a medical device tax, onto which Congress could graft some changes. (Hillary Clinton has already put forth a few ideas, in case she becomes president.)

But a bipartisan deal to shore up the health care law can’t happen when one party, the Republicans, remains committed to repeal altogether. It’s always hard to know what this would mean precisely, since vows to repeal Obamacare usually come with promises to replace it, and Republican leaders can never explain, with any specificity, what that replacement would entail. But the likely result would be lower taxes and less regulation; cheaper insurance options for people in good health ― along with more difficult access for people at risk of getting sick; a proliferation of the junk plans that Obamacare is phasing out of existence and dramatically higher numbers of people struggling with medical bills because they have no coverage at all.

Health care would end up looking a lot like it did before Obamacare came along, undoing the law’s achievements rather than trying to build on 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.

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Medlio Wins Allscripts Open API Patient Engagement Challenge

September 4, 2016, 12:07 am

≫ Next: Illinois Obamacare rates could soar as state submits insurance premium increases to feds

≪ Previous: What Obamacare's Successes Should Tell Us About Its Failures

Innovative Digital Check-in Solution Signals New Era for Health IT

(PRWEB) September 04, 2016

Durham, North Carolina: Allscripts judges, including both employees and customers, overwhelmingly selected Medlio as the winner of The Allscripts Open API Patient Engagement Challenge, hosted by Health 2.0. More than 20 companies submitted applications showing how their software can access clinical data using FHIR (Fast Healthcare Interoperability Resources) to create engaging patient experiences.

According to Tina Joros, Allscripts Developer Program Director, “We saw a number of exciting solutions that enable patients to access their own healthcare data in meaningful ways. Medlio really stood out because of how they roll many of these functionalities into a single, integrated experience. I’m looking forward to making this available to patients with fast and easy access to data stored in an Allscripts solution.”

Medlio, a health IT startup founded in 2013, gained early attention around its patent-pending virtual health insurance card, which is a smartphone application that enables users to check insurance benefits, such as status and deductible accumulators, in real-time. The company has continued to extend its digital check-in capabilities, and now sees the opportunity to eliminate clipboards once and for all.

“We’ve always had the notion of empowering consumers to own and control their own data. Meaningful Use Stage 3, and broader interoperability initiatives like FHIR, will soon make accessing your health data as easy as consolidating financial data from disparate sources. We see it as the perfect opportunity not only to capture health data, but to put it to work,” said Founder and Chief Customer Officer Lori Mehen.

For more information about the Medlio solution, contact hello(at)medl(dot)io

About Medlio: Medlio is a Durham, NC-based healthcare technology startup focused on transforming the patient experience, while eliminating operational inefficiencies and improving revenue-cycle management. A graduate of notable technology accelerators -- Healthbox, MassChallenge, and DreamIt Health’s inaugural class -- Medlio plans general release of its digital check-in solution in early 2017.

### Reported by PRWeb 1 hour ago.

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Illinois Obamacare rates could soar as state submits insurance premium increases to feds

September 4, 2016, 1:34 am

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Illinois consumers are one step closer to facing sky-high increases for individual health insurance plans purchased through the Affordable Care Act's marketplace.

The Illinois Department of Insurance said Wednesday it has submitted rate increases to the federal government that for some types of... Reported by ChicagoTribune 1 day ago.

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Feds aim to calm fears over possible Obamacare rate hikes

September 4, 2016, 1:34 am

≫ Next: Nurses set to strike over insurance at 5 Minnesota hospitals

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Even if health insurance rates skyrocket by 10 to 50 percent next year, about two-thirds of Illinois residents who buy coverage through the Affordable Care Act's marketplace would pay no more than $100 a month in premiums, the federal government said Wednesday.

That's because consumers could shop... Reported by ChicagoTribune 1 day ago.

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Nurses set to strike over insurance at 5 Minnesota hospitals

September 4, 2016, 10:56 am

≫ Next: 7 Ways to Save Money on Obamacare in 2017

≪ Previous: Feds aim to calm fears over possible Obamacare rate hikes

MINNEAPOLIS (AP) — Thousands of nurses at five Minnesota hospitals are scheduled to go on strike at 7 a.m. Monday, Labor Day, in a dispute over health insurance, workplace safety and staffing levels. Here’s a look at some of the issues: ___ WHICH HOSPITALS ARE INVOLVED? They’re all part of Minneapolis-based Allina Health — Abbott […] Reported by Seattle Times 15 hours ago.

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7 Ways to Save Money on Obamacare in 2017

September 4, 2016, 11:20 am

≫ Next: 2017 Obamacare health insurance rates to rise in Florida

≪ Previous: Nurses set to strike over insurance at 5 Minnesota hospitals

With Affordable Care Act premium inflation set to soar next year, these money-saving tips could prove quite valuable when shopping for health insurance. Reported by Motley Fool 15 hours ago.

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2017 Obamacare health insurance rates to rise in Florida

September 5, 2016, 5:13 am

≫ Next: US Faces Major Setback As Europeans Revolt Against TTIP

≪ Previous: 7 Ways to Save Money on Obamacare in 2017

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US Faces Major Setback As Europeans Revolt Against TTIP

September 5, 2016, 6:53 am

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US Faces Major Setback As Europeans Revolt Against TTIP

Submitted by Andrei Akulov via Strategic-Culture.org,

*France wants to halt thorny EU-US trade talks *on the Transatlantic Trade and Investment Partnership (TTIP) as President Francois* Hollande underlined there would be no deal until after President Barack Obama leaves office in January.* Matthias Fekl, the French minister for foreign trade, has said his country will call for an end to the deal. France has been sceptical about the TTIP from the start and has threatened to block the deal, arguing the US has offered little in return for concessions made by Europe. All 28 EU member states and the European parliament will have to ratify the TTIP before it comes into force.

*The statements came just a couple of days after German economy minister Sigmar Gabriel had said talks for TTIP had de facto failed.* Gabriel, who leads Germany’s centre-left Social Democratic party and is vice-chancellor in the coalition government, said Europe mustn’t submit to the American proposals. Mr. Gabriel’s statement is in contrast with the position of Chancellor Angela Merkel who supports the deal. Meanwhile, the US-German conflicts are growing. US courts and authorities took a hard line against the Volkswagen Group, Germany’s largest car manufacturer, in relation to its exhaust scandal. In a deal that does not include all damage claims, VW is required to pay up to 13.6 billion euros. There is a growing chorus in Germany saying that the country should orientate more to Asia. This perspective shared by the organizers of the anti-TTIP lobby, including the German Trade Union Federation (DGB), the Left Party and the Greens.

*The fact that former British Prime Minister David Cameron – an outspoken proponent of TTIP – is no longer involved in negotiations is another major setback for the deal, *which at this point is believed by many to be dead in the water.

TTIP negotiations have been ongoing since 2013 in an effort to establish a massive free trade zone that would eliminate many tariffs. *After 14 rounds of talks that have lasted three years not a single common item out of the 27 chapters being discussed has been agreed on.* The United States has refused to agree on an equal playing field between European and American companies in the sphere of public procurement sticking to the principle of «buy American».

The opponents of the deal believe that in its current guise the TTIP is too friendly to US businesses. One of the main concerns with TTIP is that it could allow multinational corporations to effectively «sue» governments for taking actions that might damage their businesses. Critics claim American companies might be able to avoid having to meet various EU health, safety and environment regulations by challenging them in a quasi-court set up to resolve disputes between investors and states.

*In Europe thousands of people supported by society groups, trade unions and activists take to the streets expressing protest against the deal. *Three million people have signed a petition calling for it to be scrapped. For instance, various trade unions and other groups have called for protests against the TTIP across Germany to take place on September 17. A trade agreement with Canada has also come under attack.

*US presidential candidate Donald Trump has promoted protectionist trade policies, while rival Hillary Clinton has also cast doubt on the TTIP deal. Congressional opposition has become steep. The lawmakers on both sides of the aisle have railed against free trade agreements as unfair to US companies and workers.*

These developments take place against the background of another major free trade agreement - the Trans Pacific Partnership (TPP) - hitting snags on the way to being pushed through Congress. *The chances are really slim.*

The likely failure will be a great setback undermining the US credibility in the Asia Pacific region and the world. According to Singapore’s Prime Minister Lee Hsien Loong, for America’s friends and partners, ratifying the trade pact was a litmus test for US credibility and seriousness of purpose.

*Both deals have been problematic, primarily because they contain clauses that would allow corporations to sue sovereign nations and are seen as a US attempt to assert political, diplomatic and corporate influence.* As illustrated above, even Americans reject them, blaming the North American Free Trade Agreement for the exodus of American manufacturing to cheaper destinations. But the failure to push through both agreements will put into doubt the US status of global superpower.

*Inside the US wealth inequality is growing.*

Student loans are up. So too are food stamps and health insurance costs. In the meantime, labor force participation, home ownership and median family incomes have plummeted. The US government's $19 trillion debt is a huge problem. Long wars in Afghanistan and Iraq have exacted an enormous price - immense financial expense, estimated to be as high as $6 trillion (£3.9tn). The detention centre at Guantanamo Bay, as well as the NSA and Wikileaks spying scandals, have undermined the belief in American values and American diplomacy.

The defense expenditure is huge, but its effectiveness is questioned. «We’re in a dramatic crisis now. There is no question that we’re capable against the threats on the counter-terrorism side, but we’ve reached a point where we’re in fact—not heading towards—but we’re already hollow against a high-end threat,» said House Armed Services Committee majority staff director Bob Simmons speaking before an audience at the American Enterprise Institute (AEI) on June 21.

*«We lack the capacity and capability that we need to effectively deter on the high-end».*

Among the foreign policy disasters in the Middle East, the rise of the Muslim extremists in several nations has created a crisis for all of the West, including the United States but most immediately and especially for refugee-swamped Europe. The West is reaping the results of America’s foreign policy failures as it struggles to cope with hundreds of thousands of refugees pouring out of Syria and the Middle East.

*There is scant evidence that this century the US has achieved any progress pursuing its foreign policy goals.* And while the US has stagnated, some countries, like Russia, China and many others, have prospered. This combination of decline at home and rise abroad has reduced America’s international power markedly.

At the turn of the century few argued when the 20^th century was dubbed the «American Century».* Over the past 16 years, America's fortunes have changed with dizzying speed.* The safer bet is that the 21^st century will not be America’s. *The TTIP’s rejection by European leaders and grass roots’ protests against the agreement testify to the fact.* Reported by Zero Hedge 19 hours ago.

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