A survey of women with breast cancer has found those with private health insurance had higher out-of-pocket costs than those without.
Reported by SBS 3 hours ago.
Insured breast cancer patients worse off
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California would take biggest hit under Senate Republicans’ latest Obamacare repeal
WASHINGTON — California, which has used the Affordable Care Act to extend health protections to millions of its residents and cut in half the number of people without health insurance, stands to lose more than any other state under the latest Republican plan to roll back the 2010 law. The GOP plan, ...
Reported by Raw Story 2 hours ago.
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GOP health bill: Whatever happened to expertise?
A long list of healthcare experts says the Republican bill to dismantle most of President Obama’s health insurance program would be a disaster. The American Medical Assn. is against it. Insurance providers are against it. Patient groups are against it. Sen. Bill Cassidy’s bill, coauthored with...
Reported by L.A. Times 19 hours ago.
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7 Reasons Your Obamacare Premium Could Soar by a Double-Digit Percentage in 2018
Get ready to open your wallet wide if you're shopping for health insurance on an Obamacare exchange.
Reported by Motley Fool 19 hours ago.
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Trump pressures US senators to back faltering Republican healthcare bill
U.S. President Donald Trump on Saturday blasted Senator John McCain for dealing a possibly fatal blow to the latest Republican attempt to dismantle Obamacare. According to a new independent analysis, the bill awaiting a Senate vote could lead to 21 million fewer Americans having health insurance. Mc...
Reported by Raw Story 10 hours ago.
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California would take biggest hit under Senate Republicans' latest Obamacare repeal plan
California, which has used the Affordable Care Act to extend health protections to millions of its residents and cut in half the number of people without health insurance, stands to lose more than any other state under the latest Republican plan to roll back the 2010 law.
The GOP plan, which Senate... Reported by L.A. Times 18 hours ago.
The GOP plan, which Senate... Reported by L.A. Times 18 hours ago.
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The Republican healthcare bill would bring 'close to unprecedented' chaos in the health system
Republicans are taking one last stab at repealing and replacing the Affordable Care Act, but experts say their latest attempt runs the risk of bringing chaos to the US healthcare system.Experts say the so-called Graham-Cassidy healthcare bill, whose legislative fate became more uncertain Friday, would set up a deadline for states that could cause massive upheaval and sow uncertainty in insurance markets.
The legislation would keep intact several provisions of the law known as Obamacare for 2018 and 2019. But it would force states to set up an entirely new individual insurance market — for people who don't get coverage through an employer — and Medicaid by 2020.
The bill's authors have presented the two-year window as a cushion to ensure no disruption for people in those insurance markets. But Larry Levitt, a senior vice president at the Kaiser Family Foundation, said the transition isn't nearly long enough.
"This would be a really heavy lift for states," Levitt told Business Insider in an email. "They’d have two years to figure out what kind of health insurance system they want to create, starting essentially from scratch, and then implement it. This is close to unprecedented."
The Graham-Cassidy bill would give states a chunk of money, known as block grants, every year based on a formula around the number of enrollees in certain programs. The states would be allowed to determine how people in the individual market received care.
The legislation's proponents argue it would give states new flexibility. But it would also force states to pass legislation to create a formula for dividing up subsidies that help people buy insurance — as well as to create state-level enforcement and regulatory schemes.
Matthew Fiedler and Loren Adler, health policy analysts at the Brookings Institution, said the challenges for states would be even more daunting than amid the implementation of the Affordable Care Act.
"States would have only around 15 months to get new policies in place to do so before insurers would need to begin developing products for 2020 and only about 27 months before the new rules would have to be in effect," Alder and Fiedler wrote as part of an analysis Friday. "For comparison, the process of drafting and implementing the ACA began close to five years before the new rules would be in effect. It seems likely that many states would simply fail to meet this timeline or meet the timeline only by deploying ineffective policies."
The researchers said the challenges would lead to an increase in the number of people uninsured due in part to the heightened uncertainty for insurers and beneficiaries.
"Transitions are difficult even under the best of circumstances. Government agencies need to gain experience administering their states’ new regulatory regimes and subsidy programs," their analysis said. "Private insurers need to learn to set premiums for a new market, while individuals need to learn how to access new coverage arrangements."
Levitt pointed to the rapidly changing market and possibility of market disruption as consequences that would likely scare off insurers, which like to set prices and participation areas in advance to get a sense of their bottom line.
"I think it’s quite unpredictable how insurers might react to passage of Graham-Cassidy," he said. "Insurers are not going to know what states will do, and some may exit the market now to wait and see how things shake out."
And Adler and Fiedler wrote that insurers may enter the new markets with higher premiums to counteract the uncertainty.
"As with the years leading up to 2020, uncertainty about what rules will govern the individual market in the future may put downward pressure on individual market participation, increasing premiums and reducing coverage," the analysis said.
That could also be a reaction to the lessons learned from Obamacare. Insurers underpriced many of their Obamacare plans in the first few years of the exchanges, leading to significant financial losses and rapidly rising premiums over the past few years.
So even with the two-year window, the massive upheaval would lead to a mad dash by states, insurer chaos, and potentially higher costs for insurers.
Or as Jon Kingsdale, a public health professor at Boston University, told the New Times Times: "That’s not enough time for most states to figure it out."
*SEE ALSO: The healthcare bill could blow up in the GOP's face because of an obscure Senate rule*
Join the conversation about this story »
NOW WATCH: Putin's controversial bridge to connect Russia to annexed Crimea will be the longest in Russian history Reported by Business Insider 16 hours ago.
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Senate opposition to Obamacare repeal bill grows
WASHINGTON (Reuters) - A proposal by U.S. Republicans to repeal and replace the Obamacare health insurance program suffered serious new setbacks within the party on Sunday, when Senator Ted Cruz expressed his opposition and Senator Susan Collins dug in with strong criticisms of the legislation.
Reported by Reuters 13 hours ago.
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U.S. Senate opposition to Obamacare repeal bill grows
WASHINGTON (Reuters) - A proposal by U.S. Republicans to repeal and replace the Obamacare health insurance program suffered serious new setbacks within the party on Sunday, when Senator Ted Cruz expressed his opposition and Senator Susan Collins dug in with strong criticism of the legislation.
Reported by Reuters 11 hours ago.
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THE INSURANCE AND THE IoT REPORT: How insurers are using connected devices to cut costs and more accurately price policies
This is a preview of a research report from BI Intelligence, Business Insider's premium research service. To learn more about BI Intelligence, click here.Insurance companies have long based their pricing models and strategies on assumptions about the demographics of their customers. Auto insurers, for example, have traditionally charged higher premiums for parents of teenage drivers based on the assumption that members of this demographic are more likely to get into an accident.
But those assumptions are inherently flawed, since they often aren't based on the actual behaviors and characteristics of individual customers. As new IoT technologies increasingly move into the mainstream, insurers are able to collect and analyze data to more accurately price premiums, helping them to protect the assets they insure and enabling more efficient assessment of damages to conserve resources.
A new report from BI Intelligence explains how companies in the auto, health, and home insurance markets are using the data produced by IoT solutions to augment their existing policy pricing models and grow their customer bases. In addition, it examines areas where IoT devices have the potential to open up new insurance segments.
Here are some of the key takeaways:
· The world's largest auto insurers now offer usage-based policies, which price premiums based on vehicle usage data collected directly from the car.
· Large home and commercial property insurers are using drones to inspect damaged properties, which can improve workflow efficiency and reduce their reliance on human labor.
· Health and life insurance firms are offering customers fitness trackers to encourage healthy behavior, and discounts for meeting certain goals.
· Home insurers are offering discounts on smart home devices to current customers, and in some cases, free devices to entice new customers.
In full, the report:
· Forecasts the number of Americans who will have tried usage-based auto insurance by 2021.
· Explains why narrowly tailored wearables could be what's next for the health insurance industry.
· Analyzes the market for potential future insurance products on IoT devices.
· Discusses and analyzes the barriers to consumers opting in to policies that collect their data.
To get your copy of this invaluable guide to the IoT, choose one of these options:
1. Subscribe to an ALL-ACCESS Membership with BI Intelligence and gain immediate access to this report AND over 100 other expertly researched deep-dive reports, subscriptions to all of our 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 insurance and the IoT.
Join the conversation about this story » Reported by Business Insider 5 hours ago.
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Chubb’s new Business Pack Insurance set to provide increased protection for SMEs
SYDNEY, AUSTRALIA - Media OutReach - September 25, 2017 - Chubb recently launched a new package insurance solution known as *Chubb Business Pack Insurance** *for small and medium enterprises in Australia. This solution aims to provide broad coverage for property and liability exposures to help protect business owners from a range of operating risks. Hence, the policy includes standard coverage for business interruption, general property damage, public and products liability, machinery and equipment breakdown, theft, money and tax audits.
In addition to the standard coverage, Chubb Business Pack Insurance also includes protection against cyber and environmental liability. Cover is available for cyber liabilities such as network security, privacy and data asset loss while the environmental protection component of the policy covers sudden, accidental and gradual pollution originating at the insured location.
Specifically tailored for Australian businesses with turnover of up to $10 million, Chubb Business Pack Insurance currently serves occupations across Office & Professional Services, Healthcare & Medical Surgeries, Retail and Trades & Services. These industry segments account for up to 35% of the SME market in Australia. In the future, there are plans to extend the Business Pack risk appetite to include occupations from other industries.
Chubb Business Pack Insurance is available only through the broker distribution network. Using a purpose-built E-placement platform -- Sunrise Exchange, brokers are able to quote, bind, bill and issue Chubb Business Pack Insurance online efficiently and conveniently.
John French, Chubb's Country President for Australia and New Zealand said, "Chubb Business Pack Insurance is an innovative solution for the SME market. Not only will it cover all the typical exposures small business owners face in their day-to-day operations but it will also cover emerging risks like cyber and environmental liability."
"More than 500 brokers attended our launch events and feedback was overwhelmingly positive. They appreciate that our policy is a flexible solution, with robust coverage options available exclusively through the broker distribution channel," he said.
For inquiries regarding Chubb's Business Pack Insurance, brokers should contact their local Chubb distribution team or email to: Business.Pack@chubb.com.
* 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.
More information can be found at www.chubb.com/au
^1 Council of Small Businesses in Australia. COSBOA's Cyber Security Management Solution for SME's. http://www.cosboa.org.au/cyber-security/
©2017 Chubb Insurance Australia Limited. Chubb^®, its logos, and Chubb.Insured.^SM are protected trademarks of Chubb. Reported by Media OutReach 6 hours ago.
In addition to the standard coverage, Chubb Business Pack Insurance also includes protection against cyber and environmental liability. Cover is available for cyber liabilities such as network security, privacy and data asset loss while the environmental protection component of the policy covers sudden, accidental and gradual pollution originating at the insured location.
Specifically tailored for Australian businesses with turnover of up to $10 million, Chubb Business Pack Insurance currently serves occupations across Office & Professional Services, Healthcare & Medical Surgeries, Retail and Trades & Services. These industry segments account for up to 35% of the SME market in Australia. In the future, there are plans to extend the Business Pack risk appetite to include occupations from other industries.
Chubb Business Pack Insurance is available only through the broker distribution network. Using a purpose-built E-placement platform -- Sunrise Exchange, brokers are able to quote, bind, bill and issue Chubb Business Pack Insurance online efficiently and conveniently.
John French, Chubb's Country President for Australia and New Zealand said, "Chubb Business Pack Insurance is an innovative solution for the SME market. Not only will it cover all the typical exposures small business owners face in their day-to-day operations but it will also cover emerging risks like cyber and environmental liability."
"More than 500 brokers attended our launch events and feedback was overwhelmingly positive. They appreciate that our policy is a flexible solution, with robust coverage options available exclusively through the broker distribution channel," he said.
For inquiries regarding Chubb's Business Pack Insurance, brokers should contact their local Chubb distribution team or email to: Business.Pack@chubb.com.
* 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.
More information can be found at www.chubb.com/au
^1 Council of Small Businesses in Australia. COSBOA's Cyber Security Management Solution for SME's. http://www.cosboa.org.au/cyber-security/
©2017 Chubb Insurance Australia Limited. Chubb^®, its logos, and Chubb.Insured.^SM are protected trademarks of Chubb. Reported by Media OutReach 6 hours ago.
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Republicans Scramble To Revise Obamacare Repeal Bill As Defeat Looms
After Texas Senator Ted Cruz revealed Sunday that he wouldn’t support Graham-Cassidy, effectively quashing the Republicans’ chances of repealing and replacing Obamacare before the crucial Sept. 30 deadline, Bloomberg reported that the GOP senate leadership was scrambling late Sunday to revise the bill to win support from a small but critical group of holdout senators and secure the 50 votes needed to allow the tie-breaking vote in favor cast by Vice President Mike Pence.Cruz, who had previously said he supported a system of scrapping the Obamacare Medicaid expansion in favor of providing block grants to states, the crux of the Graham-Cassidy, told a crowd in Texas that he had changed his mind, but didn’t elaborate as to why. Meanwhile, Senator Rand Paul took to the Sunday shows to reiterate that he’s against the bill because he believes block grants would foster infighting over funding between the states.
Some of the changes, which come as the Sept. 30 expiration of the fast-track provision that forestalls a Democratic filibuster, are designed to appeal to moderate holdouts like Lisa Murkowski of Alaska, while others appeared tailored to lure conservative skeptics like Rand Paul of Kentucky. Trump has vowed to win the support of the Kentucky senator, although some theorize that, since the current system is popular in Paul’s home state, that he will invent libertarian-sounding objections to any bill the Republicans present.
Bill Cassidy and Lindsey Graham
But even if GOP leadership manages to change a handful of votes, the bill’s chances of passing remain low, virtually guaranteeing that the Republicans will be forced to accept the status quo after seven years of campaigning to scrap Obamacare. And although the GOP could still try to resurrect the health-care effort later this year, the effort’s collapse will raise serious doubts about Congressional Republicans’ ability to win legislative battles on behalf of the president.
As Bloomberg points out, even Trump appeared to concede that the outlook for repeal isn’t great, admitting as much during a press conference with reporters.
*“Eventually we will win on that. My primary focus, I must tell you – has been from the beginning, as you can imagine – is taxes.”*
Indeed, the administration appears to already be ceding ground on taxes after leaked highlights from the bill suggested that Republicans would shoot for a 20% corporate tax rate after Trump had called for 15%.
Meanwhile, the new version of Graham-Cassidy partially tries to win over holdouts by offering more federal funding for their states, including multiple provisions offering more money to Lisa Murkowski, or “Lisa M”’s Alaska. The revised bill also includes changes to controversial provisions about pre-existing conditions coverage.
*Under the revised version, states would have to describe how their health plans "shall maintain access to adequate and affordable health insurance coverage for individuals with pre-existing conditions."* The original language said each state had to show how it "intends" to have adequate and affordable access to coverage.
The bill continues, however, to give states broad new authority to allow insurance companies to provide skimpier plans with far fewer benefits while charging higher premiums to the sick and the old.
*Under the new version, states could let insurers impose deductibles that are higher than the limits set by the Affordable Care Act, or remove the health law’s limits on the costs that an individual family can incur in a year entirely.* They could also offer coverage that lacks some of the ACA’s benefits, such as maternity care, prescription drugs or mental health. Plus, states could let insurers widen the gap between how much old people and young people are charged. And states could remove requirements that insurers cover preventive-health treatments and immunizations.
Democrats were quick to criticize the bill.
*“Despite an attempt to appear to add money for a select few states, this bill is just as bad for those states and the rest of the states because it still contains a massive cut to Medicaid, and would throw our health insurance system into chaos while raising premiums,”* Senate Minority Leader Chuck Schumer said in a statement late Sunday.
The health-care industry, another group that opposes Graham-Cassidy, mobilized on Sunday to convince senators who are on the fence not to vote for the bill.
The bill provoked an unusually strong backlash from the health-care industry as well. Groups representing doctors, hospitals and insurers signed a letter Saturday urging the Senate to reject the Graham-Cassidy bill.
*The groups said the bill would undermine protections for patients with pre-existing conditions, result in dramatic cuts to Medicaid and “drastically” weaken the individual insurance markets. *The letter was signed by the American Medical Association, the American Academy of Family Physicians, the American Hospital Association, and America’s Health Insurance Plans, which represents major insurers.
Republicans might have another shot at repealing some of Obamacare’s more controversial provisions later this year when they adopt a budget resolution that could allow room for Obamacare repeal provisions, although trying to combine the two complicated policies might make the overall package even harder to pass.
*Senate Finance Chairman Orrin Hatch of Utah said last week that there’s a “chance” of pairing taxes with health-care provisions. “But it’s not easy,” he added.*
Mitch McConnell still needs to decide whether to call for a vote on Graham-Cassidy.
*McConnell still has to decide whether to go through with a vote, which would likely happen Wednesday. *While Trump has urged GOP leaders to make every possible effort to repeal Obamacare, some Republicans will be reluctant to take a vote on a bill that many privately are uncomfortable with.
A CBO analysis of the bill is expected later Monday.
*The nonpartisan Congressional Budget Office will release a partial analysis of the Graham-Cassidy proposal as early as Monday. *It will examine the proposal’s impact on the federal deficit, but a full review of the effect on U.S. health coverage and costs won’t be ready for weeks. The Senate Finance Committee will hold the only hearing on the bill Monday afternoon, and it doesn’t plan to vote on the measure. Senate Republicans will have a private lunchtime meeting Tuesday, where GOP leaders can make a last plea for support.
The Brookings Institution estimated Friday that the Graham-Cassidy plan would reduce the number of people with health coverage by about 21 million a year from 2020 through 2026. The good news is that for all the twists and turns in this ongoing process, the fate of Obamacare repeal should be sealed by mid-week. Reported by Zero Hedge 3 hours ago.
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Health Insurance Innovations sees up to a 38% jump in 2017 EPS; shares ahead 4%
Reported by SeekingAlpha 1 hour ago.
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Health Insurance Innovations (HIIQ) Investor Presentation - Slideshow
Reported by SeekingAlpha 30 minutes ago.
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Health Insurance Innovations progressing on TPA license in Florida; shares up 4% after guidance update
Reported by SeekingAlpha 18 minutes ago.
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Bronstein, Gewirtz and Grossman, LLC: Shareholder ALERT- Bronstein, Gewirtz & Grossman, LLC Notifies Investors of Class Action Against Health Insurance Innovations, Inc. -- Lead Plaintiff Deadline November 10, 2017 (HIIQ)
NEW YORK, NY / ACCESSWIRE / September 25, 2017 / Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Health Insurance Innovations, Inc. ("Health...
Reported by FinanzNachrichten.de 14 minutes ago.
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Great American Insurance Group’s Accident and Health Insurance Programs Now Available in 50 States
CINCINNATI--(BUSINESS WIRE)--Great American Insurance Group is pleased to announce that their Special Risk Accident and Health Program is now available in 50 states.
Reported by Business Wire 11 minutes ago.
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Pelosi: GOP's 'Dangerous Tweaks' to Healthcare Bill Makes Costs Worse
Republicans' changes to the Obamacare repeal bill that is set for a vote this week will only make the situation worse for Americans to get affordable health insurance, said Rep. Nancy Pelosi, D-Calif.
Reported by Newsmax 23 hours ago.
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Heart attack survivor still waits for job’s health insurance to kick in
Reported by DallasNews 22 hours ago.
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7.5 million Californians could lose coverage under latest Obamacare repeal effort, state health insurance exchange says
Reported by L.A. Times 20 hours ago.
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