HARRISBURG, Pa. (AP) — Democratic Gov. Tom Wolf’s administration is blaming President Donald Trump for a sharp increase in the cost of health insurance that’ll take effect next year for residents who buy individual plans. Wolf’s administration released the approved 2018 rates Monday, saying the average increase will be just over 30 percent. The administration […]
Reported by Seattle Times 12 hours ago.
Wolf blames Trump, Congress for spiking health coverage cost
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Ryan backs Trump on ending health insurance subsidies
MADISON, Wis. (AP) — House Speaker Paul Ryan says he does not want to “shovel more money at a failing program” to replace federal subsidies that President Donald Trump is eliminating that help make health insurance more affordable. Ryan told reporters Monday that he supports the president’s decision last week to end the subsidies. In […]
Reported by Seattle Times 12 hours ago.
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Trumpcare is health care vandalism pure and simple
There's a moral vacuum at the top. Trump hasn't even urged Congress to renew an expired health insurance program serving 9 million kids.
Reported by USATODAY.com 12 hours ago.
Reported by USATODAY.com 12 hours ago.
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Get Started: Trump orders small business health rules change
ASSOCIATION HEALTH PLANS Businesses may be able to buy health insurance through what are called association health plans under a planned federal rule change. President Donald Trump signed an order directing his administration to write rules that would allow groups and associations of employers to sponsor coverage that can be marketed in multiple states. Under […]
Reported by Seattle Times 12 hours ago.
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Pa. Insurance Department: Subsidy cut means individual market premium increase will average 30.6% next year
The Pennsylvania Insurance Department approved 2018 individual health insurance rates that include premium increases that average 30.6 percent. The state agency had originally projected an increase in the individual market to average 7.6 percent, but that changed when President Donald Trump on Friday signed an executive order that eliminates subsidies to health insurance companies that have been provided for low-income individual and families purchasing coverage through the exchanges set up under…
Reported by bizjournals 11 hours ago.
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Should The Middle Class Pay More For A Loaf Of Bread Than The Poor?
Authored by Mike Shedlock via MishTalk.com,*Iowa seeks to become the first state to dump Obamacare in favor of a state-run program that will allegedly lower costs. *
*I suggest Iowa's replacement plan can't work. My reason pertains to the title question.*
Please consider New Test for Obamacare, Iowa Seeks to Abandon Marketplace.
*With efforts to repeal the Affordable Care Act dead in Congress for now, a critical test for the law’s future is playing out in one small, conservative-leaning state.*
Iowa is anxiously waiting for the Trump administration to rule on a request that is loaded with implications for the law’s survival. *If approved by the federal Centers for Medicare and Medicaid Services, it would allow the state to jettison some of Obamacare’s main features next year — its federally run insurance marketplace, its system for providing subsidies, its focus on helping poorer people afford insurance and medical care — and could open the door for other states to do the same.*
Iowa’s Republican leaders think their plan would save the state’s individual insurance market by making premiums cheaper for everyone. *But critics say the lower prices come at the expense of much higher deductibles for many with modest incomes, and that approval of the plan would amount to another way of undermining the law*.
Iowa calls its request a stopgap plan that would allow the state to opt out of the federal health insurance marketplace, HealthCare.gov, for 2018 and create a state-run system that its insurance commissioner says would lower premiums for the 72,000 Iowans who currently have Obamacare health plans, including 28,000 who earn too much to get subsidies to help with the cost.
*But the cheaper premiums would come with a big trade-off: higher out-of-pocket costs. *The only option for customers would be a plan with deductibles of $7,350 for a single person and $14,700 for a family. The proposal would also reallocate millions of federal dollars that the health law dedicates to lowering costs for people with modest incomes and use the money for premium assistance to those with higher incomes, no matter how much money they make.
*The individual insurance market is particularly fragile in Iowa, partly because the state has allowed tens of thousands of people to keep old plans that do not meet the health law’s standards. *Aetna and Wellmark Blue Cross & Blue Shield, the state’s most popular insurer, are both withdrawing at the end of the year. The only insurer planning to remain, Medica, is seeking premium increases that average 56 percent, blaming Mr. Trump’s ongoing threats to stop paying subsidies known as cost-sharing reductions that lower many people’s deductibles and other out-of-pocket costs. Wellmark has said it will stay if the stopgap plan is approved.
*“What we are trying to address is a really large number of people being priced out,” *said Doug Ommen, the state’s Republican insurance commissioner.
-*No Medical Insurance Available*-
Aetna and Wellmark Blue Cross & Blue Shield will both pull out of Iowa starting in 2018.* Only one insurer, Medica, plans to remain. But Medica wants a 56% premium hike. Wellmark will stay if the stopgap plan is approved.*
If the stopgap plan is not approved and Medica does not get approval for a 56% premium hike, the state will have no providers for individuals or families not in a corporate plan.
-*Step in the Wrong Direction?*-
*Is this a good idea or a bad idea? The alternative might be no insurance providers to choose from.*
But what percentage of families can afford $14,700 if something happens?
*The proposal adds subsidies based on federal poverty levels to make things more affordable for low-income earners.*
-*Federal Poverty Levels*-
-*Sock it to the Middle Class*-
*Individuals making more than $48,240 and couples making more than $64,960 get crucified under the plan.* The stopgap plan table shows why.
-*Cliff Synopsis*-
· An individual, aged 25 making up to 150% of the poverty level ($18,090) will pay $108 per year.
· An individual, aged 25 making up to 301%-400% of the poverty level ($48,240) will pay $792 per year.
· An individual, aged 25 making up to 401% of the poverty level ($48,241) will pay $3,516 per year.
· An individual, aged 60 making up to 150% of the poverty level ($18,090) will pay $300 per year.
· An individual, aged 60 making up to 301%-400% of the poverty level ($48,240) will pay $2,136 per year.
· An individual, aged 60 making over 400% of the poverty level ($48,240) will pay $9,504 per year.
· A couple, both aged 60, making over 400% of the poverty level ($64,960) will pay $9,504 per year.
In addition, an individual would have a deductible of $7,350. A family would have a deductible of $14,700.
The article claims "The proposal would also reallocate millions of federal dollars that the health law dedicates to lowering costs for people with modest incomes and use the money for premium assistance to those with higher incomes, no matter how much money they make."
*The posted table says otherwise.*
-*Fatal Flaw*-
*The fatal flaw in the plan should be obvious. Those making over 400% of the poverty level will opt out.*
Those pie-in-the-sky premiums of a mere $300 a year for those aged 60 making the poverty level *will never cover costs because a huge percentage of those making over 400% or the poverty level will opt out.*
-*Should the Middle Class Pay More for a Loaf of Bread?*-
A major flaw in Obamacare is the notion that everyone should pay the same price. Under the plan, young and healthy millennials overpaid, effectively subsidizing older and/or physically obese persons. The millennials opted out.
*The Iowa plan may capture millennials, but because of the screw job on the wealthy, those making over 400% of the poverty rate will drop out.*
Effectively the state said if you can afford to pay more you must pay more.
*Imagine grocery stores charging $15 for a loaf of bread if you make $48,241 but only 48 cents if you make up to $18,090.*
*The idea is preposterous.*
Insurance for those older should cost more than those younger. Insurance for unhealthy individuals should also cost more. But that's where it has to stop.
*Obamacare is blowing up because it seeks to redistribute costs in a way that cannot possibly work. The Iowa replacement plan will fail for similar reasons. One plan screwed the young and the healthy, the other screws those the state deems to be able to afford to be screwed.*
That cliff is a mere $48,240 for individuals and $64,960 for a couple.
A couple making $64,961 would have to pay over $24,000 out of pocket before insurance covered a dime.
*This is a huge screw-job not on the wealthy, but on the middle class!*
Reported by Zero Hedge 11 hours ago.
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Dayton OKs reinsurance; MinnesotaCare funding still at stake
ST. PAUL, Minn. (AP) — Gov. Mark Dayton has signed a federal waiver approving a new state program to lower health insurance premiums. The Democratic governor officially approved Minnesota’s new reinsurance program Monday. State lawmakers devoted $549 million to lower rates for shoppers who buy coverage on their own after years of double-digit increase. Dayton’s […]
Reported by Seattle Times 10 hours ago.
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Social Security Disability, Veterans Disability Beneficiaries to Receive 2 Percent COLA in 2018
Allsup explains importance of cost of living adjustment for SSDI recipients.
BELLEVILLE, Ill. (PRWEB) October 16, 2017
Individuals receiving Social Security Disability Insurance (SSDI) benefits and veterans disability benefits will receive a 2.0 percent increase in their monthly benefit in 2018, according to Allsup, a nationwide provider of SSDI, veterans disability appeal and Medicare plan selection services. The increase is a result of the annual cost-of-living adjustment (COLA), which is an automatic calculation applied to Social Security benefits.
“This increase is good news for disability beneficiaries who often must juggle the costs of medical expenses with other living expenses,” said Tricia Blazier, Healthcare and Financial Planning Director at Allsup.
This weekend also introduced the Medicare annual enrollment period, when beneficiaries can examine their costs for next year and make important decisions about health insurance coverage, Blazier explained. The Allsup Medicare Advisor offers Medicare plan selection assistance for beneficiaries including people with disabilities and seniors during annual enrollment, which runs Oct. 15 to Dec. 7.
“It’s important that Social Security disability recipients review their budgets, knowing there is a slight increase, and make sure they factor in other rising costs, including food, utilities and medical expenses, such as Medicare,” Blazier said.
The average SSDI benefit will rise to $1,197 from $1,173, an increase of $24 per month (or $288 per year), according to the Social Security Administration. The COLA is calculated using third-quarter results from data reported by the U.S. Bureau of Labor Statistics’ Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). Typically, a comparison of the current year to the previous year determines if there is an increase.
The increase takes effect for Social Security retirement and SSDI recipients in January 2018. The COLA also is applied to veterans disability compensation and pension benefits, managed by the U.S. Department of Veterans Affairs, and Supplemental Security Income (SSI) benefits. Increases have taken place every year since 1975, except for 1983, 2010 and 2011. There was an administrative change in 1983, and consumer prices did not experience typical increases in 2010-11.
SSDI is a payroll tax-funded, federal insurance program. A portion of FICA taxes that workers pay is set aside for SSDI, as well as Social Security retirement and Medicare. SSDI benefits provide monthly income and access to Medicare after a 24-month waiting period.
Benefits Help
Medicare recipients have from Oct. 15 to Dec. 7 to make Medicare plan changes for their 2018 healthcare coverage. To speak to an Allsup Medicare Advisor specialist, call (866) 521-7655 or visit Medicare.Allsup.com.
Veterans who are planning a VA disability appeal can receive assistance by going to Veterans.Allsup.com.
Learn how to apply for disability benefits at Allsup.com.
ABOUT ALLSUP
Allsup and its subsidiaries provide nationwide Social Security disability, veterans disability appeal, return to work, exchange plan and Medicare services for individuals, their employers and insurance carriers. Allsup professionals deliver specialized services supporting people with disabilities and seniors so they may lead lives that are as financially secure and as healthy as possible. Founded in 1984, the company is based in Belleville, Illinois, near St. Louis. Visit Allsup.com or connect with Allsup at http://www.facebook.com/allsupinc and @Allsup. Reported by PRWeb 9 hours ago.
BELLEVILLE, Ill. (PRWEB) October 16, 2017
Individuals receiving Social Security Disability Insurance (SSDI) benefits and veterans disability benefits will receive a 2.0 percent increase in their monthly benefit in 2018, according to Allsup, a nationwide provider of SSDI, veterans disability appeal and Medicare plan selection services. The increase is a result of the annual cost-of-living adjustment (COLA), which is an automatic calculation applied to Social Security benefits.
“This increase is good news for disability beneficiaries who often must juggle the costs of medical expenses with other living expenses,” said Tricia Blazier, Healthcare and Financial Planning Director at Allsup.
This weekend also introduced the Medicare annual enrollment period, when beneficiaries can examine their costs for next year and make important decisions about health insurance coverage, Blazier explained. The Allsup Medicare Advisor offers Medicare plan selection assistance for beneficiaries including people with disabilities and seniors during annual enrollment, which runs Oct. 15 to Dec. 7.
“It’s important that Social Security disability recipients review their budgets, knowing there is a slight increase, and make sure they factor in other rising costs, including food, utilities and medical expenses, such as Medicare,” Blazier said.
The average SSDI benefit will rise to $1,197 from $1,173, an increase of $24 per month (or $288 per year), according to the Social Security Administration. The COLA is calculated using third-quarter results from data reported by the U.S. Bureau of Labor Statistics’ Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). Typically, a comparison of the current year to the previous year determines if there is an increase.
The increase takes effect for Social Security retirement and SSDI recipients in January 2018. The COLA also is applied to veterans disability compensation and pension benefits, managed by the U.S. Department of Veterans Affairs, and Supplemental Security Income (SSI) benefits. Increases have taken place every year since 1975, except for 1983, 2010 and 2011. There was an administrative change in 1983, and consumer prices did not experience typical increases in 2010-11.
SSDI is a payroll tax-funded, federal insurance program. A portion of FICA taxes that workers pay is set aside for SSDI, as well as Social Security retirement and Medicare. SSDI benefits provide monthly income and access to Medicare after a 24-month waiting period.
Benefits Help
Medicare recipients have from Oct. 15 to Dec. 7 to make Medicare plan changes for their 2018 healthcare coverage. To speak to an Allsup Medicare Advisor specialist, call (866) 521-7655 or visit Medicare.Allsup.com.
Veterans who are planning a VA disability appeal can receive assistance by going to Veterans.Allsup.com.
Learn how to apply for disability benefits at Allsup.com.
ABOUT ALLSUP
Allsup and its subsidiaries provide nationwide Social Security disability, veterans disability appeal, return to work, exchange plan and Medicare services for individuals, their employers and insurance carriers. Allsup professionals deliver specialized services supporting people with disabilities and seniors so they may lead lives that are as financially secure and as healthy as possible. Founded in 1984, the company is based in Belleville, Illinois, near St. Louis. Visit Allsup.com or connect with Allsup at http://www.facebook.com/allsupinc and @Allsup. Reported by PRWeb 9 hours ago.
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Montana providers can file new rates without US subsidy
HELENA, Mont. (AP) — Federal regulators are allowing two companies offering health insurance through the individual market in Montana to file rate increases. Insurance Commissioner Matt Rosendale says the move comes after President Donald Trump’s decision last week to end certain federal payments to insurers that help low- to middle-income workers. It’s also a reversal […]
Reported by Seattle Times 9 hours ago.
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Department of Justice announces settlement in HHS mandate suits
Washington D.C., Oct 16, 2017 / 09:45 pm (CNA/EWTN News).- A week after issuing new religious freedom guidelines to all administrative agencies in the federal government, the U.S. Department of Justice has settled with more than 70 plaintiffs who had challenged the controversial HHS contraceptive mandate.
The Oct. 13 agreement was reached between the government and the law firm Jones Day, which represented more than 70 clients fighting the mandate. Made public Oct. 16, the agreement states that the plaintiffs would not be forced to provide health insurance coverage for “morally unacceptable” products and procedures, including contraception, sterilization, and abortion-inducing drugs.
“This settlement brings to a conclusion our litigation challenging the Health and Human Services’ mandate obliging our institutions to provide support for morally objectionable activities, as well as a level of assurance as we move into the future,” said Cardinal Donald Wuerl of Washington, D.C. in an Oct. 16 letter to priests of the archdiocese.
The mandate originated with the Obama administration. Issued through the Department of Health and Human Services, it required employers – even those with deeply-held religious objections – to provide and pay for contraceptive, abortifacient and sterilization coverage in their health insurance plans.
The Archdiocese of Washington, D.C., was one of more than 300 plaintiffs who had challenged the mandate, arguing “that the practice of our faith was inextricably tied to the ministries that put that faith into action,” and that as such, they should not be forced to violate their faith to continue their ministries, Wuerl recalled.
The archdiocese and six other plaintiffs had argued their position before the Supreme Court in the case Zubik v. Burwell. In 2016, the high court ruled against the government’s requirement that certain employers provide and pay for the morally objectionable services.
“While the Trump Administration’s Executive Order on Religious Liberty and new guidelines and regulations are extremely helpful, the settlement of the Zubik litigation adds a leavening of certainty moving forward,” the cardinal added.
The Department of Justice’s new settlement “removes doubt” and closes these cases challenging the mandate, the cardinal continued. “The settlement adds additional assurances that we will not be subject to enforcement or imposition of similar regulations imposing such morally unacceptable mandates moving forward,” he stated.
On Oct. 6, the Department of Justice revised its guidelines for all government agencies in light of existing religious freedom laws, releasing a set of principles which stated clearly that the government cannot substantially burden religious practices, unless there is a compelling state interest in doing so and those burdens use the least-restrictive means possible.
Thomas Aquinas College, a Catholic college in California and another plaintiff against the HHS mandate also celebrated the protection the settlement brings.
“While we welcomed the broadening of the exemption from the HHS mandate last week by the Trump administration, we have under our agreement today something even better: a permanent exemption from an onerous federal directive – and any similar future directive – that would require us to compromise our fundamental beliefs,” said Thomas Aquinas College president Dr. Michael F. McLean in an Oct. 16 statement.
“This is an extraordinary outcome for Thomas Aquinas College and for the cause of religious freedom.”
In addition to settling the case, the Departments of Health and Human Services, Labor, and the Treasury have also decided to provide partial coverage of the plaintiffs’ attorney fees and costs of the lawsuits.
“This financial concession by the government only reinforces its admission of the burdensome nature of the HHS contraceptive mandate and its violation of the College's free exercise of religion,” stated Thomas Aquinas College General Counsel, Quincy Masteller. Reported by CNA 2 hours ago.
The Oct. 13 agreement was reached between the government and the law firm Jones Day, which represented more than 70 clients fighting the mandate. Made public Oct. 16, the agreement states that the plaintiffs would not be forced to provide health insurance coverage for “morally unacceptable” products and procedures, including contraception, sterilization, and abortion-inducing drugs.
“This settlement brings to a conclusion our litigation challenging the Health and Human Services’ mandate obliging our institutions to provide support for morally objectionable activities, as well as a level of assurance as we move into the future,” said Cardinal Donald Wuerl of Washington, D.C. in an Oct. 16 letter to priests of the archdiocese.
The mandate originated with the Obama administration. Issued through the Department of Health and Human Services, it required employers – even those with deeply-held religious objections – to provide and pay for contraceptive, abortifacient and sterilization coverage in their health insurance plans.
The Archdiocese of Washington, D.C., was one of more than 300 plaintiffs who had challenged the mandate, arguing “that the practice of our faith was inextricably tied to the ministries that put that faith into action,” and that as such, they should not be forced to violate their faith to continue their ministries, Wuerl recalled.
The archdiocese and six other plaintiffs had argued their position before the Supreme Court in the case Zubik v. Burwell. In 2016, the high court ruled against the government’s requirement that certain employers provide and pay for the morally objectionable services.
“While the Trump Administration’s Executive Order on Religious Liberty and new guidelines and regulations are extremely helpful, the settlement of the Zubik litigation adds a leavening of certainty moving forward,” the cardinal added.
The Department of Justice’s new settlement “removes doubt” and closes these cases challenging the mandate, the cardinal continued. “The settlement adds additional assurances that we will not be subject to enforcement or imposition of similar regulations imposing such morally unacceptable mandates moving forward,” he stated.
On Oct. 6, the Department of Justice revised its guidelines for all government agencies in light of existing religious freedom laws, releasing a set of principles which stated clearly that the government cannot substantially burden religious practices, unless there is a compelling state interest in doing so and those burdens use the least-restrictive means possible.
Thomas Aquinas College, a Catholic college in California and another plaintiff against the HHS mandate also celebrated the protection the settlement brings.
“While we welcomed the broadening of the exemption from the HHS mandate last week by the Trump administration, we have under our agreement today something even better: a permanent exemption from an onerous federal directive – and any similar future directive – that would require us to compromise our fundamental beliefs,” said Thomas Aquinas College president Dr. Michael F. McLean in an Oct. 16 statement.
“This is an extraordinary outcome for Thomas Aquinas College and for the cause of religious freedom.”
In addition to settling the case, the Departments of Health and Human Services, Labor, and the Treasury have also decided to provide partial coverage of the plaintiffs’ attorney fees and costs of the lawsuits.
“This financial concession by the government only reinforces its admission of the burdensome nature of the HHS contraceptive mandate and its violation of the College's free exercise of religion,” stated Thomas Aquinas College General Counsel, Quincy Masteller. Reported by CNA 2 hours ago.
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United States: CHIP Reauthorization Legislation And Medicare-Medicaid Extender Provisions - Holland & Knight
In this memorandum, Holland & Knight's Healthcare & Life Sciences Team summarizes recent legislative action on funding for the Children's Health Insurance Program (CHIP).
Reported by Mondaq 8 hours ago.
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Govt mulls min wages for domestic helps
In what could change the lives of lakhs of domestic workers, the government is planning to bring them under a structure that enables them minimum wages, protection from harassment and organise unions.
The Ministry of Labour and Employment is formulating a national policy for domestic workers and has sought views from the public by mid-November, after broadly defining the contours of the policy in a two-page public notice.
One of the main tasks of the policy is to "explicitly and effectively" expand the scope of applicable legislation, policies and schemes to "grant domestic workers rights that are enshrined in the laws for other category of workers", including "minimum wages and equal remuneration".
While Rs 9,000 was the minimum wage for a full-time domestic help in a previous draft, the latest publicised notice does not mention any figure.
The formulation of a national policy would be of great relief for the domestic workers, as many of them fail to earn enough to run their family despite working for more than 12 hours a day and in different households.
They also face harassment, both physical and psychological, and there is no grievance redressal mechanism.
Officials said the policy that will be formulated would have such issues addressed and they expect that stakeholders, including experts and those working for the welfare of domestic helps, would come up with innovative ideas that could be incorporated.
According to the broad policy framework formulated by the ministry, this policy should result in setting up an institutional mechanism which provides social security cover, fair terms of employment, grievance redressal and dispute resolution.
The policy will also provide for a model contract of employment with a well-defined period of work and rest. It also envisages access to social security benefits like health insurance, maternity benefits and old age pensions.
The policy could also touch upon promoting the rights to organise and form their own unions and associations and affiliate with other unions and associations.
The domestic workers could also have the right to register themselves with state labour department or any other mechanism available.
The policy will also work out a regulatory mechanism for placement agencies. Reported by Deccan Herald 11 hours ago.
The Ministry of Labour and Employment is formulating a national policy for domestic workers and has sought views from the public by mid-November, after broadly defining the contours of the policy in a two-page public notice.
One of the main tasks of the policy is to "explicitly and effectively" expand the scope of applicable legislation, policies and schemes to "grant domestic workers rights that are enshrined in the laws for other category of workers", including "minimum wages and equal remuneration".
While Rs 9,000 was the minimum wage for a full-time domestic help in a previous draft, the latest publicised notice does not mention any figure.
The formulation of a national policy would be of great relief for the domestic workers, as many of them fail to earn enough to run their family despite working for more than 12 hours a day and in different households.
They also face harassment, both physical and psychological, and there is no grievance redressal mechanism.
Officials said the policy that will be formulated would have such issues addressed and they expect that stakeholders, including experts and those working for the welfare of domestic helps, would come up with innovative ideas that could be incorporated.
According to the broad policy framework formulated by the ministry, this policy should result in setting up an institutional mechanism which provides social security cover, fair terms of employment, grievance redressal and dispute resolution.
The policy will also provide for a model contract of employment with a well-defined period of work and rest. It also envisages access to social security benefits like health insurance, maternity benefits and old age pensions.
The policy could also touch upon promoting the rights to organise and form their own unions and associations and affiliate with other unions and associations.
The domestic workers could also have the right to register themselves with state labour department or any other mechanism available.
The policy will also work out a regulatory mechanism for placement agencies. Reported by Deccan Herald 11 hours ago.
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UnitedHealth beats 3Q earnings forecast, hikes 2017 guidance
UnitedHealth Groups' third-quarter earnings soared 26 percent to beat Wall Street expectations as its growing Optum business segment once again helped the nation's largest health insurer. The Minnetonka, Minnesota, company earned nearly $2.49 billion as revenue grew 9 percent to $50.32 billion. Adjusted earnings totaled $2.66 per share. FactSet says analysts had expected earnings of $2.56 per share on $50.35 billion in revenue. Health insurance is UnitedHealth's main business. But it also has been reaping growth from its Optum segment, which operates doctor's offices and offers pharmacy benefits management. UnitedHealth said Tuesday that it expects 2017 earnings to approach $10 per share.
Reported by SeattlePI.com 11 hours ago.
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Actually, Trump is raising health insurance premiums
President Trump and congressional Republicans have long vowed to lower health insurance premiums.
Reported by CNNMoney 10 hours ago.
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Actually, Trump is raising premiums
President Trump's decision to stop funding a key set of Obamacare subsidies is prompting states and insurers to hike health insurance premiums.
Reported by CNNMoney 10 hours ago.
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Trump Encourages Detente Between Bannon And McConnell As Tax Reform Deadline Looms
After yesterday’s Rose Garden press conference, where President Donald Trump and Majority Leader Mitch McConnell assured reporters that they have a “good” relationship, they appear to have put their widely publicized feud behind them. But having patched things up with McConnell, *Trump is now reportedly trying to convince his one-time employee, former White House Chief Strategist Steve Bannon, to temporarily suspend his attacks on “establishment” Republicans while Trump tries to unify Republicans around his tax-reform plan* and the administration scrambles to meet its self-imposed year-end deadline to pass what would be its first major legislative achievement.However, despite Trump’s public pleas for Bannon to stand down, the Breitbart chief is refusing to play ball. *Bloomberg is reporting, citing anonymous sources who are presumably close to Bannon, that the former Trump campaign chief executive has refused to abandon his war against congressional Republican incumbents, further imperiling Trump’s tax-reform plans.*
Bannon’s message, Bloomberg says, was aptly encapsulated by a headline that ran on Breitbart on Monday. It reads: “Bitter Mitch! Triggered by Bannon.”
The headline was affixed to a story about the Bannon-allied Great America Political Action Committee on Monday endorsing its “Trump Ticket” for the Republican primaries, which includes Kelli Ward, who is challenging incumbent GOP Senator Jeff Flake in Arizona, and in Wisconsin, Kevin Nicholson, who has said he would vote against re-electing McConnell as majority leader.
*There are deep fears in the White House and among Republicans that the tax overhaul, considered vital for next year’s midterms by the party’s strategists, will follow Obamacare repeal to the legislative ash heap.* That would likely leave Trump without a substantive legislative accomplishment after a year in office.
Since the Senate’s fractious Republican Caucus has already let Trump down by twice failing to pass Obamacare, *the president is understandably seeking to hedge by making overtures to Democratic senators in states that he carried during the campaign.*
Last week, reports surfaced that McConnell was courting West Virginia Senator Joe Manchin III, one of the last remaining conservative-leaning Democratic lawmakers, to try and gain his vote on tax reform.
Meanwhile, Trump has invited Democratic Senators Bob Casey of Pennsylvania and Debbie Stabenow to the White House.
*In a sign of his increasing concern about the tax overhaul, Trump also sought to cover his bases with the opposition party, inviting Democratic senators Bob Casey of Pennsylvania and Deborah Stabenow of Michigan to participate in a meeting at the White House on Wednesday.* Both are members of the tax-writing Senate Finance Committee, and both face re-election next year in states Trump carried.
As Bloomberg points out, Republicans are defending just eight senate seats in 2018. And only one of those seats – held by Dean Heller of Nevada – is in a state that was carried by Clinton. Therefore, Republicans are for more afraid of losing a primary to a far-right candidate than they are of their Democratic challengers.
During yesterday’s press conference, McConnell noted several examples of far-right candidates who lost important races to Democrats because they failed to appeal to a broader electorate.
“The goal here is to win elections in November,” the Kentucky Republican said.
McConnell named four 2010 Republican Senate nominees: T*odd Akin of Missouri, who repulsed voters with talk about “legitimate rape”; Richard Mourdock of Indiana, who said pregnancy from rape is “something that God intended to happen”; Christine O’Donnell of Delaware, who said she’d dabbled in witchcraft; and Sharron Angle of Nevada, who said Sharia law -- Islamic religious law -- had taken over several U.S. cities.*
*“They were not able to appeal to a broader electorate in a general election,”* McConnell said.* “The way you do that is not complicated. You have to nominate people who can actually win, because winners make policy and losers go home.”*
To be sure, the push for Republican unity hasn’t stopped Trump from expressing fondness for his one-time top adviser. Indeed, as Reuters reports, Trump has refused to denounce Bannon, saying only that “Steve is doing what Steve thinks is the right thing.”
While it seems Trump has let go of his anger toward McConnell,* the president continues to seethe over Republican lawmakers who voted against the Obamacare repeal-and-replace bill.*
Reuters reports that before a Monday meeting of Trump’s Cabinet, the president criticized Republicans who voted against Obamacare repeal, saying they “should be ashamed.”
*“We’re not getting the job done,” Trump said. “And I‘m not going to blame myself, I’ll be honest. They are not getting the job done.”*
Luckily, several of the six Republican senators who were identified as possible “no” votes on tax reform have said recently that they’re leaning toward a ‘yes’ vote.
*“I am leaning ‘yes’,”* Senator Lisa Murkowski of Alaska told reporters as the chamber prepared for what is expected to be a late Thursday vote on the fiscal 2018 spending blueprint.
Senator Susan Collins of Maine announced on Sunday that she will likely vote ‘yes.’
Even Rand Paul – who recently praised the president for promising to sign an executive order that would allow insurers to sell health insurance across state lines – says he’s leaning toward a yes, a development that will no doubt please the White House. Trump, who reportedly respects Paul despite him being one of the most intransigent Republican opponents of the Trump agenda, has made winning Paul’s vote a priority.
However, if Republicans wish to see tax reform passed by the end of the year – a deadline that even Gary Cohn yesterday admitted may not be possible – the senate must pass a budget bill to unlock the reconciliation rules that would allow the senate to pass tax reform with only 50 votes.
And while Cohn's former employer continues to see higher than 50% odds that tax reform will pass this year, market-implied odds (ascertained by comparing the performance of high-tax corporates with the broader S&P 500) have essentially fallen to zero. Reported by Zero Hedge 9 hours ago.
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UnitedHealth Group Inc shares rise premarket after mixed third quarter results
UnitedHealth Group Inc (NYSE:UNH) shares were slightly higher on thin premarket trade after it delivered a mixed bag of third quarter results on Tuesday. In premarket trade, its shares were up 1.50% at US$196.10. Its third quarter earnings beat market expectations but revenues however failed to meet consensus. READ: UnitedHealth president David Wichmann to take over as CEO after boardroom shake-up In the third quarter, the company said earnings rose to US$2.56bn, or US$2.51 per share, from US$1.98bn, or US$2.03 per share the year earlier. Adjusted earnings-per-share came in at US$2.66, well above Wall Street’s consensus for US$2.56, the company said in a statement. However, revenues fell short of market expectations of US$50.37bn, managing only US$50.32bn from the US$46.29bn recorded the year earlier. The third quarter figures reflected the withdrawal from the Affordable Care Act markets, which resulted in US$1.6bn less in year-over-year consolidated revenues. READ: UnitedHealth ups full-year earnings guidance but shares weak as healthcare bill scrapped There was also the negative impact of the health insurance tax deferral, and a 17% hike in revenues pertaining to medical benefit products for seniors and Medicare products. The company's pharmacy-benefit manager unit, Optum, saw revenues rise by 8% year on year. The healthcare company is now guiding 2017 EPS to approach US$9.45 per share and adjusted net earnings to approach US$10.00 per share, against the previous guidance of US$9.20 to $9.35 per share and adjusted net earnings of US$9.75 to US$9.90 per share.
Reported by Proactive Investors 9 hours ago.
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Leading senators say have outline of health insurance deal
WASHINGTON (AP) — Two leading senators say they have the "basic outlines" of a bipartisan deal to resume payments to health insurers that President Donald Trump has blocked. But Republican Sen. Lamar Alexander and Democrat Patty Murray say in brief interviews that they still have unresolved issues. Alexander says the two bargainers are close to an agreement to continue federal subsidies to insurers for two years. Republicans want Congress to give states meaningful flexibility to ease coverage requirements under President Barack Obama's health care law. Alexander says they still haven't agreed on what "meaningful" means. The payments go to insurers for their costs for reducing out-of-pocket expenses for lower-earning customers.
Reported by SeattlePI.com 6 hours ago.
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ACEP: Health Insurers Disagree With Your Decision To Visit The ER -- And They Refuse To Pay!
WASHINGTON: In a controversial decision, health insurance giant Anthem Blue Cross Blue Shield is warning policy holders - in Georgia, Kentucky and Missouri - that they may have to pay for their trips to the ER.
Reported by newKerala.com 4 hours ago.
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Honolulu among top cities in new quality of life ranking
Honolulu has been named one of the top cities in NerdWallet's new quality of life ranking. Hawaii's state capital ranked 18th out of 177 U.S. cities with a population of more than 150,000. The personal-finance website used data estimates from the 2016 U.S. Census Bureau American Community Survey for its analysis. NerdWallet looked at the number of hours worked, commute times, percentage of income spent on housing, health insurance coverage, poverty levels and unemployment rates to get a picture…
Reported by bizjournals 4 hours ago.
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