Official data released on Tuesday shows that Chinese insurance premiums grew at their fastest pace since 2008 last year, bolstered by a rapid expansion of life insurance policies. But market watchers said the picture this year would be eclipsed by shrinking yields on insurance returns. Life and health insurance premiums surged 36.5 per cent while non-life sector increased 9.12 per cent in 2016, shoring up the total insurance premium to grow 27.5 per cent, the China Insurance Regulatory...
Reported by S.China Morning Post 14 hours ago.
Insurance premiums grow at fastest pace since 2008 last year
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Western Region Minister designate doubts viability of NHIS
The Western Region Minister designate has doubted the viability of the hugely challenged National Health Insurance Scheme (NHIS).
Reported by Myjoyonline 13 hours ago.
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NO DEAL: Aetna and Humana call off their $34 billion merger (AET, HUM)
Humana announced Tuesday that it was terminating its merger agreement with its health-insurance counterpart Aetna after a federal judge blocked the deal.Humana is entitled to a breakup fee of $1 billion, or $630 million excluding taxes, according to the original agreement.
Both companies would have combined to form the second-largest health insurer in the US. However, the deal faced strong judicial scrutiny on grounds that it would reduce competition in their industry and make insurance more expensive.
In January, a federal judge blocked the deal on antitrust grounds, arguing that the new company would increase the already rising costs of healthcare coverage for consumers.
Rival companies Anthem and Cigna are still working to close a $54 billion deal.
*SEE ALSO: A judge revealed the shady side of the crushed Aetna-Humana deal*
Join the conversation about this story »
NOW WATCH: Here's how to use one of the many apps to buy and trade bitcoin Reported by Business Insider 11 hours ago.
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AIS Health, 3M Partner for March 2 Webinar on the Future of Big Data in Healthcare
This complimentary webinar from AIS Health and 3M Health Information Systems will provide the latest predictions about using predictive analytics in healthcare.
Washington, DC (PRWEB) February 14, 2017
AIS Health and 3M Health Information Systems are pleased to announce “Predictions About Predictive Analytics: From Telescope to Microscope,” a complimentary March 2 webinar. In this hour-long program, Herb Fillmore, Senior Director of Population Health and Strategic Innovation at 3M, will discuss how payers and providers are shifting to a microscope approach to actionable predictive analytics — one that takes a detailed look at the individual patterns that make up patient behavior and allows for identification of where real change can occur, rather than a telescope approach that focuses on gathering a universe of data.
Webinar participants will learn about the profound impact this approach will have on predictive analytics, including:· Personal behavior: The ability to affect patient activation and success by integrating social determinants data.
· Personalized medicine: The ability to determine the ideal therapeutic choices for a patient.
· Personal value equation: The ability to determine whether the benefits a patient experiences actually outweigh the cost and time investment involved.
· Personal Interventions: The ability to predict expected rates for individuals and organize appropriate interventions around similar cohorts of people.
· Learning systems: How strong feedback loops from all the above can produce even more accurate, useful and sophisticated analytics.
Visit https://aishealth.com/sponsored/3M-webinar-0317 for more details and registration information.
About 3M
3M Health Information Systems works with providers, payers and government agencies to anticipate and navigate a changing healthcare landscape. 3M provides healthcare data aggregation, analysis and strategic services that help clients move from volume to value-based health care, resulting in cost savings, improved provider performance and higher quality care. 3M’s innovative software is designed to raise the bar for computer-assisted coding, clinical documentation improvement, performance monitoring, quality outcomes reporting and terminology management. For more information, visit http://www.3m.com/his/vbc or follow on Twitter @3MHISNews.
About AIS Health
AIS Health is a publishing and information company that has served the health care industry for more than 30 years. AIS Health’s mission is to provide objective and relevant business and strategic information for health care executives, by developing highly targeted news, data and analysis for managers at health insurance companies, pharmaceutical organizations, providers, purchasers and other health care industry stakeholders. AIS Health, which maintains journalistic independence from its parent company, MMIT, is committed to integrity in reporting and bringing transparency to health industry data. Learn more at https://AISHealth.com and https://AISHealthData.com. Reported by PRWeb 13 hours ago.
Washington, DC (PRWEB) February 14, 2017
AIS Health and 3M Health Information Systems are pleased to announce “Predictions About Predictive Analytics: From Telescope to Microscope,” a complimentary March 2 webinar. In this hour-long program, Herb Fillmore, Senior Director of Population Health and Strategic Innovation at 3M, will discuss how payers and providers are shifting to a microscope approach to actionable predictive analytics — one that takes a detailed look at the individual patterns that make up patient behavior and allows for identification of where real change can occur, rather than a telescope approach that focuses on gathering a universe of data.
Webinar participants will learn about the profound impact this approach will have on predictive analytics, including:· Personal behavior: The ability to affect patient activation and success by integrating social determinants data.
· Personalized medicine: The ability to determine the ideal therapeutic choices for a patient.
· Personal value equation: The ability to determine whether the benefits a patient experiences actually outweigh the cost and time investment involved.
· Personal Interventions: The ability to predict expected rates for individuals and organize appropriate interventions around similar cohorts of people.
· Learning systems: How strong feedback loops from all the above can produce even more accurate, useful and sophisticated analytics.
Visit https://aishealth.com/sponsored/3M-webinar-0317 for more details and registration information.
About 3M
3M Health Information Systems works with providers, payers and government agencies to anticipate and navigate a changing healthcare landscape. 3M provides healthcare data aggregation, analysis and strategic services that help clients move from volume to value-based health care, resulting in cost savings, improved provider performance and higher quality care. 3M’s innovative software is designed to raise the bar for computer-assisted coding, clinical documentation improvement, performance monitoring, quality outcomes reporting and terminology management. For more information, visit http://www.3m.com/his/vbc or follow on Twitter @3MHISNews.
About AIS Health
AIS Health is a publishing and information company that has served the health care industry for more than 30 years. AIS Health’s mission is to provide objective and relevant business and strategic information for health care executives, by developing highly targeted news, data and analysis for managers at health insurance companies, pharmaceutical organizations, providers, purchasers and other health care industry stakeholders. AIS Health, which maintains journalistic independence from its parent company, MMIT, is committed to integrity in reporting and bringing transparency to health industry data. Learn more at https://AISHealth.com and https://AISHealthData.com. Reported by PRWeb 13 hours ago.
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Wham!: No Danger in Emotional Ties When it Comes to Pet Insurance, Says Aquarium Software
New research suggests intriguing synergy between human and pet health care markets and Aquarium Software says this correlation presents real opportunities for insurers.
(PRWEB) February 14, 2017
Anglo-American pet insurance technology specialist Aquarium Software says being treated like a dog when it comes to medical care may be no bad thing. New research suggests intriguing synergy between human and pet health care markets, and as improbable as it may seem, Aquarium says this correlation presents real opportunities for insurers.
Spending on human healthcare in the US grew 50 per cent between 1996 and 2012 and over the same period, pet care perhaps surprisingly grew by a similar margin. However, while Americans spent $15bn on pet health in 2015, an incredible $3.2tn was spent on human health. Both markets have seen increases in medical personnel and a growth in end of life spending; the question is this: if the rate of growth is the same, why is there such a gap in actual spend, between pet and human health?
Perhaps it’s not fair to suggest a true like for like comparison, however the fact remains that 90 percent of Americans now have health insurance, compared to 1 per cent of pets. Aquarium sees a great opportunity for this emotional attachment to pets to translate into a wider take up of pet insurance, especially in the USA.
“The unifying factor in both human and pet insurance markets is emotion,” said Aquarium Software’s VP Sales and Marketing, Mark Colonnese. “If it came to a choice, many of us would save our dog or cat even if it meant putting ourselves at risk. Yet only 1% of US pets are insured. From a business perspective, this means those who have pulled out of the market may be mistaken. Maybe they were looking purely at the short-term numbers and overlooking the huge potential for long-term emotional engagement with pet owners. Pet insurance is absolutely here to stay, for those in the market that get this.”
Reports playing down the pet insurance market have implied policies are expensive and people will not pay. This has led to some players in the UK, US and Asia pulling out of the market and corresponding expert puzzlement as pet insurers defy predictions and are still reaping the rewards, with total premium volume up 17 per cent in the last two years alone.
“Emotional attachment to pets if anything gets stronger rather than weaker,” says Colonnese, “which may explain why in America, pet insurance is one of the fastest growing employee benefits. Delta Airlines; Hewlett-Packard; Microsoft; UPS; and Xerox - among others - all now offer it. Our own YouGov research here in the UK seems to confirm this as sound business logic; 70% of dog owners (and 58% of all pet owners) would rather spend time with their pet than meet new friends. That’s either a scary thought or an enormous marketing opportunity, whichever way you look at it,” Mark concluded.
Aquarium Software’s specialist pet insurance solution spanning premiums rating, policy admin, billing and claims has been implemented by a number of insurers around the globe. For further information contact Aquarium Software on +44 (0)161 927 5620 or visit http://www.aquarium-software.com Reported by PRWeb 10 hours ago.
(PRWEB) February 14, 2017
Anglo-American pet insurance technology specialist Aquarium Software says being treated like a dog when it comes to medical care may be no bad thing. New research suggests intriguing synergy between human and pet health care markets, and as improbable as it may seem, Aquarium says this correlation presents real opportunities for insurers.
Spending on human healthcare in the US grew 50 per cent between 1996 and 2012 and over the same period, pet care perhaps surprisingly grew by a similar margin. However, while Americans spent $15bn on pet health in 2015, an incredible $3.2tn was spent on human health. Both markets have seen increases in medical personnel and a growth in end of life spending; the question is this: if the rate of growth is the same, why is there such a gap in actual spend, between pet and human health?
Perhaps it’s not fair to suggest a true like for like comparison, however the fact remains that 90 percent of Americans now have health insurance, compared to 1 per cent of pets. Aquarium sees a great opportunity for this emotional attachment to pets to translate into a wider take up of pet insurance, especially in the USA.
“The unifying factor in both human and pet insurance markets is emotion,” said Aquarium Software’s VP Sales and Marketing, Mark Colonnese. “If it came to a choice, many of us would save our dog or cat even if it meant putting ourselves at risk. Yet only 1% of US pets are insured. From a business perspective, this means those who have pulled out of the market may be mistaken. Maybe they were looking purely at the short-term numbers and overlooking the huge potential for long-term emotional engagement with pet owners. Pet insurance is absolutely here to stay, for those in the market that get this.”
Reports playing down the pet insurance market have implied policies are expensive and people will not pay. This has led to some players in the UK, US and Asia pulling out of the market and corresponding expert puzzlement as pet insurers defy predictions and are still reaping the rewards, with total premium volume up 17 per cent in the last two years alone.
“Emotional attachment to pets if anything gets stronger rather than weaker,” says Colonnese, “which may explain why in America, pet insurance is one of the fastest growing employee benefits. Delta Airlines; Hewlett-Packard; Microsoft; UPS; and Xerox - among others - all now offer it. Our own YouGov research here in the UK seems to confirm this as sound business logic; 70% of dog owners (and 58% of all pet owners) would rather spend time with their pet than meet new friends. That’s either a scary thought or an enormous marketing opportunity, whichever way you look at it,” Mark concluded.
Aquarium Software’s specialist pet insurance solution spanning premiums rating, policy admin, billing and claims has been implemented by a number of insurers around the globe. For further information contact Aquarium Software on +44 (0)161 927 5620 or visit http://www.aquarium-software.com Reported by PRWeb 10 hours ago.
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Aetna And Humana Call Off Merger After Court Decision
The two healthcare giants said they were no longer pursuing the deal. A federal judge blocked the merger in January, citing its likely adverse effect on competition in the health insurance market.
Reported by NPR 7 hours ago.
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Yellen says an Obamacare repeal could have 'a significant impact on spending' and the US economy
During her testimony to the Senate Banking, Housing, and Urban Affairs Committee, Federal Reserve Chair Janet Yellen outlined the potential economic impact of a repeal of the Affordable Care Act (ACA), better known as Obamacare.When asked by Democratic Sen. Bob Menendez about the effect of the recent budget resolution passed by Republicans that would repeal significant parts of the ACA on the broader US economy Yellen said, "We would have to look at what the shifts in healthcare have on the economic outlook."
She continued, "Healthcare, as you mentioned, does account for a very significant share of spending and a loss of access to health insurance could have a significant impact on spending of households for other goods and services. Beyond healthcare itself, it could have impacts on the economy."
Over the past two years, healthcare spending as a percentage of GDP increased at a level usually seen during recessions according to the Centers of Medicare and Medicaid Services, and out of pocket costs for Americans have been climbing at a rapid pace.
While this shift may already be restricting discretionary spending, as Yellen notes, a sudden loss of insurance could cause households to shift even more household spending away from discretionary goods and services and towards healthcare.
Yellen went on to say that the increase in health coverage and access to insurance under the ACA has helped improve the labor market.
"In addition, access to healthcare for some individuals has likely increased their mobility and diminished the phenomenon called job lock where people are afraid to leave jobs because of losing health insurance and that could have implications for the labor market as well that we would try to evaluate," said Yellen.
While these issues could be mitigated by a possible replacement plan offered by Republicans, Yellen made it clear that a large overhaul of Obamacare could have implications for the entire US economy.
*SEE ALSO: Conservatives just made Obamacare repeal more difficult*
Join the conversation about this story »
NOW WATCH: Here's how to use one of the many apps to buy and trade bitcoin Reported by Business Insider 6 hours ago.
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Why A Sexy Book Is Better Than A Sexy Man
Some people feel a sexy book is better than a sexy man. With a sexy man, you have to worry about love handles, and messy pubic hair, and smooth legs, and whether or not your natural, not-breast-cancer-causing deodorant works. Not so with a sexy book. All you need is a finger to turn the pages (or swipe if you're e-reading) and a pillow to lay your head on. You don't even have to get dressed. A sexy book is a sure thing no matter if you're wearing Costco underwear or ten-year-old Target sweatpants.
With a sexy book, you get to re-read the good parts: the swollen members, the stolen glances, the longing in the loins, all with a bowl of popcorn next to you or grapes or pretzels dipped in ranch. You can eat and read and wipe your nose all at the same time and never feel self-conscious or miss a minute of the romance.
And you don't need privacy. You can be swept away while your kids sit on the couch watching Shark Tank or your husband scans CNN or all of the above.
If you read Amazon reviews carefully, you know exactly what you're getting with a sexy book: chemistry, frustration, foreplay, and ultimately, a big release! You can't get a guarantee like that with a human man, sexy or not. He doesn't come with Amazon reviews but if he did and a hundred people gave him five stars, you'd think, Gross! No way! The guy probably has herpes!
But sexy men certainly have their virtues. They can be brilliant or gorgeous or their fingers on your skin make you shiver. Sometimes, people crave body heat and you need a live person for that. In real-life, there are sexy men who even take out the garbage and lock up the house and drive the kids to soccer practice and fill up the car with gas (if you're really lucky). They don't care about smooth legs or genital grooming or whether or not you put on mascara. You know them so well, right down to the mole on their left shoulder and the doctor's appointment they have next Tuesday for their sciatica. These guys tend not to have deep, dark secrets, or old lovers hiding in the attic, or mistresses they keep in London.
Ah, but a sexy book comes with a sexy swashbuckling stranger for whom the sight of your ungloved hand or naked ankle causes a boner the size of a salami. He pops off the page and carries you away from the dog that needs to be walked and the laundry that needs to be folded, right at the moment when the sexy man you live with wants to review the bills or your health insurance or his mom's invitation to dinner. Sexy books don't have mothers-in-law. They just sit quietly next to your bed waiting for you--release guaranteed. In real life, that's hard to come by. No pun intended.
My upcoming novel, RESTLESS IN L.A., features a sexy woman, a few sexy men, and, yes, as a sexy book...it delivers!
-- 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.
With a sexy book, you get to re-read the good parts: the swollen members, the stolen glances, the longing in the loins, all with a bowl of popcorn next to you or grapes or pretzels dipped in ranch. You can eat and read and wipe your nose all at the same time and never feel self-conscious or miss a minute of the romance.
And you don't need privacy. You can be swept away while your kids sit on the couch watching Shark Tank or your husband scans CNN or all of the above.
If you read Amazon reviews carefully, you know exactly what you're getting with a sexy book: chemistry, frustration, foreplay, and ultimately, a big release! You can't get a guarantee like that with a human man, sexy or not. He doesn't come with Amazon reviews but if he did and a hundred people gave him five stars, you'd think, Gross! No way! The guy probably has herpes!
But sexy men certainly have their virtues. They can be brilliant or gorgeous or their fingers on your skin make you shiver. Sometimes, people crave body heat and you need a live person for that. In real-life, there are sexy men who even take out the garbage and lock up the house and drive the kids to soccer practice and fill up the car with gas (if you're really lucky). They don't care about smooth legs or genital grooming or whether or not you put on mascara. You know them so well, right down to the mole on their left shoulder and the doctor's appointment they have next Tuesday for their sciatica. These guys tend not to have deep, dark secrets, or old lovers hiding in the attic, or mistresses they keep in London.
Ah, but a sexy book comes with a sexy swashbuckling stranger for whom the sight of your ungloved hand or naked ankle causes a boner the size of a salami. He pops off the page and carries you away from the dog that needs to be walked and the laundry that needs to be folded, right at the moment when the sexy man you live with wants to review the bills or your health insurance or his mom's invitation to dinner. Sexy books don't have mothers-in-law. They just sit quietly next to your bed waiting for you--release guaranteed. In real life, that's hard to come by. No pun intended.
My upcoming novel, RESTLESS IN L.A., features a sexy woman, a few sexy men, and, yes, as a sexy book...it delivers!
-- 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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Cigna scraps merger with Anthem, sues rival for $13 billion dollars
Cigna is done with its proposed merger with Anthem.The health insurance company said it was terminating the merger with rival Anthem after a federal judge blocked the deal over anti-competitive grounds. The merger would have made the combined company the largest health insurer in the US based on the number of lives covered.
Additionally, Cigna will sue Anthem for a $1.85 billion reverse break-up fee and an additional $13 billion in damages according to Bloomberg.
One of the factors in the decision by a federal judge to block the merger was Cigna's seeming distaste with the deal.
More to come...
Join the conversation about this story »
NOW WATCH: Here's how to use one of the many apps to buy and trade bitcoin Reported by Business Insider 5 hours ago.
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Valentine’s Day Word Problems
1. On Valentine’s Day, you go to the mall and buy a skirt for your girlfriend and a “Doctor Who” Lego set for yourself. If the skirt cost fifty dollars, the Lego set cost seventy-eight dollars and fifty cents, and you’re thirty-four years old and don’t have health insurance, does that really justify your girlfriend staying up all night texting her ex after you’ve fallen asleep?
Reported by The New Yorker 5 hours ago.
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STOCKS HIT NEW HIGHS: Here's what you need to know (AET, HUM, CIG)
The major US equity indexes rose to all-time highs while bonds sold off after Federal Reserve Chair Janet Yellen struck a hawkish tone on interest rates during her congressional testimony. Goldman Sachs shares surpassed their 2007 pre-crisis high to close at a record: $249.46, up 1.32%.
Here's the scoreboard:
· Dow: 20,504.41, +92.25, (0.45%)
· S&P 500: 2,337.58, +9.33, (0.40%)
· Nasdaq: 5,782.57, +18.62, (0.32%)
1. "Waiting too long to remove accommodation would be unwise, potentially requiring the FOMC to eventually raise rates rapidly, which could risk disrupting financial markets and pushing the economy into recession," Yellen told the Senate Banking Committee.
2. Cigna is scrapping its plan to merge with rival Anthem, and is suing Anthem for $13 billion in damages because the deal couldn't get approved. The health insurance company said it was terminating the merger after a federal judge blocked the deal on anti-competitive grounds.
3. Humana announced that it was terminating its merger agreement with its health insurance counterpart Aetna after a federal judge blocked the deal. Aetna will pay Humana a breakup fee of $1 billion, or $630 million excluding taxes.
4. Canadian home prices in January saw the largest 12-month increase in a decade amid the housing boom in Toronto. National house price inflation climbed to an annual rate of 13.0% year-over-year, according to the Teranet-National Bank Composite House Price Index.
5. The House Freedom Caucus, a conservative wing of congressional Republicans, voted Monday night to support a swift and aggressive repeal of the Affordable Care Act. This complicates GOP efforts to unite around a plan to repeal and replace Obamacare.
*Additionally:*
BAML: This is the most overcrowded trade
Fed’s Yellen speaks out against Trump's Wall Street deregulation push
Asked about Trump's immigration plans, Yellen says 'slowing immigration would slow economic growth'
Trump's vast power to reshape the Fed will be the next major source of uncertainty for markets
Homes in these 10 markets are selling like hotcakes
Morgan Stanley's global head of stock trading just quit to join a $35 billion hedge fund
14 ways an economist might say "I love you"
Join the conversation about this story »
NOW WATCH: Here's how to use one of the many apps to buy and trade bitcoin Reported by Business Insider 4 hours ago.
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STOCKS HIT NEW HIGHS: Here's what you need to know (AET, HUM, CIG, GS)
The major US equity indexes rose to all-time highs while bonds sold off after Federal Reserve Chair Janet Yellen struck a hawkish tone on interest rates during her congressional testimony.
Goldman Sachs rose to a record high.
Here's the scoreboard:
· *Dow:* 20,504.41, +92.25, (0.45%)
· *S&P 500:* 2,337.58, +9.33, (0.40%)
· *Nasdaq:* 5,782.57, +18.62, (0.32%)
1. "Waiting too long to remove accommodation would be unwise, potentially requiring the FOMC to eventually raise rates rapidly, which could risk disrupting financial markets and pushing the economy into recession," Yellen told the Senate Banking Committee.
2. Cigna is scrapping its plan to merge with rival Anthem, and is suing Anthem for $13 billion in damages because the deal couldn't get approved. The health insurance company said it was terminating the merger after a federal judge blocked the deal on anti-competitive grounds.
3. Humana announced that it was terminating its merger agreement with its health insurance counterpart Aetna after a federal judge blocked the deal. Aetna will pay Humana a breakup fee of $1 billion, or $630 million excluding taxes.
4. Canadian home prices in January saw the largest 12-month increase in a decade amid the housing boom in Toronto. National house price inflation climbed to an annual rate of 13.0% year-over-year, according to the Teranet-National Bank Composite House Price Index.
5. The House Freedom Caucus, a conservative wing of congressional Republicans, voted Monday night to support a swift and aggressive repeal of the Affordable Care Act. This complicates GOP efforts to unite around a plan to repeal and replace Obamacare.
*Additionally:*
BAML: This is the most overcrowded trade
Fed’s Yellen speaks out against Trump's Wall Street deregulation push
Asked about Trump's immigration plans, Yellen says 'slowing immigration would slow economic growth'
Trump's vast power to reshape the Fed will be the next major source of uncertainty for markets
Homes in these 10 markets are selling like hotcakes
Morgan Stanley's global head of stock trading just quit to join a $35 billion hedge fund
14 ways an economist might say "I love you"
Join the conversation about this story »
NOW WATCH: Here's how to use one of the many apps to buy and trade bitcoin Reported by Business Insider 3 hours ago.
Goldman Sachs rose to a record high.
Here's the scoreboard:
· *Dow:* 20,504.41, +92.25, (0.45%)
· *S&P 500:* 2,337.58, +9.33, (0.40%)
· *Nasdaq:* 5,782.57, +18.62, (0.32%)
1. "Waiting too long to remove accommodation would be unwise, potentially requiring the FOMC to eventually raise rates rapidly, which could risk disrupting financial markets and pushing the economy into recession," Yellen told the Senate Banking Committee.
2. Cigna is scrapping its plan to merge with rival Anthem, and is suing Anthem for $13 billion in damages because the deal couldn't get approved. The health insurance company said it was terminating the merger after a federal judge blocked the deal on anti-competitive grounds.
3. Humana announced that it was terminating its merger agreement with its health insurance counterpart Aetna after a federal judge blocked the deal. Aetna will pay Humana a breakup fee of $1 billion, or $630 million excluding taxes.
4. Canadian home prices in January saw the largest 12-month increase in a decade amid the housing boom in Toronto. National house price inflation climbed to an annual rate of 13.0% year-over-year, according to the Teranet-National Bank Composite House Price Index.
5. The House Freedom Caucus, a conservative wing of congressional Republicans, voted Monday night to support a swift and aggressive repeal of the Affordable Care Act. This complicates GOP efforts to unite around a plan to repeal and replace Obamacare.
*Additionally:*
BAML: This is the most overcrowded trade
Fed’s Yellen speaks out against Trump's Wall Street deregulation push
Asked about Trump's immigration plans, Yellen says 'slowing immigration would slow economic growth'
Trump's vast power to reshape the Fed will be the next major source of uncertainty for markets
Homes in these 10 markets are selling like hotcakes
Morgan Stanley's global head of stock trading just quit to join a $35 billion hedge fund
14 ways an economist might say "I love you"
Join the conversation about this story »
NOW WATCH: Here's how to use one of the many apps to buy and trade bitcoin Reported by Business Insider 3 hours ago.
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Cigna terminates $48B merger agreement with Anthem
Connecticut-based health insurer Cigna Corp. (NYSE: CI) announced Tuesday that it is rejecting Anthem’s $48 billion acquisition offer. Cigna’s announcement falls on the same day that another potential pairing of health insurance giants squashed. Humana and Aetna announced the decision to terminate their merger on Tuesday as well. File mega-insurer breakups under unexpected Valentine’s Day announcements. The Cigna-Anthem union was dealt a blow Feb. 8 when the U.S. District Court for the District…
Reported by bizjournals 4 hours ago.
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Anthem hits back at Cigna's $15bn lawsuit
Health insurer Anthem has hit back at Cigna after it said it was terminating a merger between the two companies and wants $15bn (£12bn) in fees and damages.Anthem has said that Cigna cannot end the deal between the two companies.
Cigna has filed a lawsuit demanding that Anthem pay $13bn in damages and $1.85bn in break up fees after a judge ruled the two could not merge.
*Read more*: Could it be Luxembourg for Lloyd's post-Brexit?
But, Anthem said in a statement today: "Under the terms of the merger agreement, Cigna does not have a right to terminate the agreement.
"Therefore, Cigna's purported termination of the merger agreement is invalid."
Last week, a federal judge ruled that the merger of two health insurance firms was illegal according to antitrust law.
*Read more*: Can we have some more? Regulator hikes financial levy on insurers
But, Anthem is pushing forward with an appeal, on the basis that 99 per cent of the votes cast by both shareholders of the companies approved of the merger.
Cigna said in a statement: "This action is necessary to enforce and preserve Cigna’s rights and protect the interests of its shareholders.
"The company believes strongly in the merits of its case and hopes that this matter is rapidly resolved."
Anthem maintains that the merger could save Americans $2bn in medical costs per year, and said it was "disappointed" with the decision of the US court. Reported by City A.M. 4 hours ago.
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Two mega-health insurance mergers terminated
Merger agreements between Humana Inc. and Aetna Inc. and between Cigna Corp. and Anthem Inc. were both terminated Tuesday. Louisville, Ky.-based Humana (NYSE: HUM), a major employer in the Green Bay area, issued a news release this morning to announce the "mutual termination" after last month's federal court ruling that blocked the transaction. Under the terms of the merger agreement, Humana is entitled to a breakup fee of $1 billion, and the company said today that would amount to about $630 million…
Reported by bizjournals 3 hours ago.
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One of America's largest health insurance companies is completely dumping Obamacare, Trump tweets law 'continues to fail'
Humana is completely pulling out of the Affordable Care Act (ACA) market.According to a press release on Tuesday, the company — which is one of the five large publicly-traded health insurers — said it will pull all of its business from the individual marketplace starting January 1, 2018.
The move comes the same day that Humana and rival Aetna terminated their merger agreement.
Humana said it was hoping that the individual marketplaces set up by the ACA, better known as Obamacare would stabilize, but based on new data from its 2017 enrollment on the exchanges that does not seem to be the case. From Humana's press release (emphasis added):
"All of these actions were taken with the expectation that the company’s Individual Commercial business would stabilize to the point where the company could continue to participate in the program. However, based on its initial analysis of data associated with the company’s healthcare exchange membership following the 2017 open enrollment period, Humana is seeing further signs of an unbalanced risk pool. *Therefore, the company has decided that it cannot continue to offer this coverage for 2018.* Through the remainder of 2017, Humana remains committed to serving its current members across 11 states where it offers Individual Commercial products."
Following the news, President Donald Trump tweeted about the decision by Humana.
"Obamacare continues to fail," tweeted Trump. "Humana to pull out in 2018. Will repeal, replace & save healthcare for ALL Americans."
In previous years, large insurers have suffered losses on the Obamacare exchanges due to a risk pool that has been sicker, older, and thus more expensive to cover than originally expected.
Obama officials hopes that a larger number of young people would sign up through the exchanges during the open enrollment period that ran from November 1, 2016 to January 31, 2017 and would help balance the costs. Instead, enrollment plummeted in the two weeks after Trump took office and sign-upd came in lower than the year before.
This was critical since more young people enroll in the last two weeks of the open enrollment period. Health policy experts had theorized that the uncertainty of the GOP plan to replace the law combined with thr Trump administration's decision not to promote enrollment efforts in these critical weeks could do serious damage to the exchanges and cause the "death spiral" Republicans has been claiming was happening for years.
It appears that these enrollment figures were enough of an issue to cause Humana to leave the individual business.
*SEE ALSO: Cigna is suing Anthem for $13 billion after walking away from their merger*
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NOW WATCH: Here's how to use one of the many apps to buy and trade bitcoin Reported by Business Insider 2 hours ago.
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2 big insurance break-ups on Valentine’s Day
It was a rough day for the already-roiled U.S. health insurance market: One giant merger was abandoned, another is threatened by infighting, and a major insurer announced it will stop selling coverage on public exchanges in 11 states. Both merger deals had already been rejected by federal regulators and judges, but the companies were considering […]
Reported by Seattle Times 2 hours ago.
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Obamacare Repeal Could Cripple Efforts To Combat The Opioid Epidemic
WASHINGTON ― Repealing the Affordable Care Act would deal a major blow to efforts to fight addiction in one of the states hardest hit by the opioid epidemic, according to a new study from Harvard Medical School and New York University.
Across the country, some four million Americans with addictions or mental health disorders could lose their health insurance, greatly diminishing access to life-saving treatments, the researchers found. In Kentucky, the effects of ACA repeal would be especially devastating.
The end of Obamacare could cost Kentucky more than 44 percent of its funding for medication-assisted treatment using buprenorphine to help those with opioid addiction, according to the study.
Medication-assisted treatment combines addiction counseling with the use of medications such as methadone or buprenorphine (commonly sold as Suboxone). By consensus of the medical community, it is the standard of care for people with opioid use disorder. But Kentucky and other states have only recently started expanding access to such treatment with the help of federal funds.
According to the study, more than 40,000 Kentucky residents who gained Medicaid coverage under the ACA have a mental illness and/or are being treated for a substance use disorder.
The researchers looked at several states struggling with the opioid crisis, including Kentucky and New York, in their latest study. They’ve previously found similar results for other states like West Virginia and Ohio, where the epidemic is also tearing at too many families and communities.
Yet Senate Majority Leader Mitch McConnell (R-Ky.) did not address how the loss of the ACA would impact his state and its efforts to combat the opioid epidemic in an op-ed published last month. He argued that the health care law has actually done more harm than good.
“Obamacare isn’t truly solving problems or making our country healthier — it’s a box-checking regime devoid of true compassion or empathy, a green-eyeshade exercise that misses something important: the lives of real people,” McConnell wrote.
Perhaps McConnell hasn’t consulted enough state health officials out there on addiction’s front lines. According to the new analysis, New York could face a 37 percent cut in funds paying for medication-assisted treatment, while Oregon could be looking at a 24 percent cut. In Vice President Mike Pence’s home state of Indiana, ACA repeal could mean an 18 percent slash to such life-saving treatment. During Pence’s time as governor, Indiana’s HIV rate spiked due to the opioid epidemic.
Pence still declared in early January that repealing Obamacare would be a top priority for the Trump administration.
“The first order of business is to repeal and replace Obamacare,” Pence said. “The American people voted decisively for a better future for health care in this country and we are determined to give them that.”
He added that he didn’t want to cause any hardship to families that receive insurance through the ACA.
How will Trump’s first 100 days impact you? Sign up for our weekly newsletter and get breaking updates on Trump’s presidency by messaging us here.
-- 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 2 hours ago.
Across the country, some four million Americans with addictions or mental health disorders could lose their health insurance, greatly diminishing access to life-saving treatments, the researchers found. In Kentucky, the effects of ACA repeal would be especially devastating.
The end of Obamacare could cost Kentucky more than 44 percent of its funding for medication-assisted treatment using buprenorphine to help those with opioid addiction, according to the study.
Medication-assisted treatment combines addiction counseling with the use of medications such as methadone or buprenorphine (commonly sold as Suboxone). By consensus of the medical community, it is the standard of care for people with opioid use disorder. But Kentucky and other states have only recently started expanding access to such treatment with the help of federal funds.
According to the study, more than 40,000 Kentucky residents who gained Medicaid coverage under the ACA have a mental illness and/or are being treated for a substance use disorder.
The researchers looked at several states struggling with the opioid crisis, including Kentucky and New York, in their latest study. They’ve previously found similar results for other states like West Virginia and Ohio, where the epidemic is also tearing at too many families and communities.
Yet Senate Majority Leader Mitch McConnell (R-Ky.) did not address how the loss of the ACA would impact his state and its efforts to combat the opioid epidemic in an op-ed published last month. He argued that the health care law has actually done more harm than good.
“Obamacare isn’t truly solving problems or making our country healthier — it’s a box-checking regime devoid of true compassion or empathy, a green-eyeshade exercise that misses something important: the lives of real people,” McConnell wrote.
Perhaps McConnell hasn’t consulted enough state health officials out there on addiction’s front lines. According to the new analysis, New York could face a 37 percent cut in funds paying for medication-assisted treatment, while Oregon could be looking at a 24 percent cut. In Vice President Mike Pence’s home state of Indiana, ACA repeal could mean an 18 percent slash to such life-saving treatment. During Pence’s time as governor, Indiana’s HIV rate spiked due to the opioid epidemic.
Pence still declared in early January that repealing Obamacare would be a top priority for the Trump administration.
“The first order of business is to repeal and replace Obamacare,” Pence said. “The American people voted decisively for a better future for health care in this country and we are determined to give them that.”
He added that he didn’t want to cause any hardship to families that receive insurance through the ACA.
How will Trump’s first 100 days impact you? Sign up for our weekly newsletter and get breaking updates on Trump’s presidency by messaging us here.
-- 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 2 hours ago.
↧
2 big insurance break-ups on Valentine's Day
It was a rough day for the already-roiled U.S. health insurance market: One giant merger was abandoned, another is threatened by infighting, and a major insurer announced it will stop selling coverage on public exchanges in 11 states.
Reported by CNSNews.com 1 hour ago.
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Uninsured rate in California drops to record low, CDC estimates
The percentage of Californians without health insurance fell to a record low 7.1 percent in 2016, according to estimated figures released by the Centers for Disease Control on Tuesday. In California, state officials welcomed the news as a sign that structures created by the Affordable Care Act, the federal health care law that expanded health care coverage to roughly 20 million Americans, are working. California is considered one of the most successful states in expanding health care coverage for its residents under the health care law, which is also known as Obamacare. The state has dramatically expanded its Medicaid program, Medi-Cal, adding nearly 4 million newly eligible low-income people since 2014. Covered California, the insurance exchange through which low-income residents and other individuals can buy insurance using federal subsidies, is growing and expects to hit 1.5 million people in 2017, up from 1.3 million in 2016. The law’s expansion of Medicaid and its other provisions — such as prohibiting insurers from denying patients coverage because of pre-existing conditions — are driving down the uninsured rate, said Cynthia Cox, an associate director at the Kaiser Family Foundation who researches the health law’s effect on private insurers and enrollees.
Reported by SFGate 2 hours ago.
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