It seems to have been a busy week in health care news, and I found it difficult to settle on what interested me the most. But here are my picks:
Coke for breakfast?
Apparently that is one of the marketing strategies Coca-Cola is considering to increase its sales in the United Kingdom. It is not clear whether they mean to actually pitch the idea that a Coke would be a great accompaniment to a bowl of oatmeal (maybe an Egg McMuffin) or they mean to develop a new line of beverages to compete with tea and coffee. But sales of … Continue reading
Ready, Set, . . .
With the implementation of the Affordable Care Act (ACA) fast approaching, and summer deadlines for insurance companies that want to offer plans on the new insurance exchanges, this week has seen a lot of news stories related to Obamacare.
California revealed its new exchange plans and the first look seems to indicate that premiums will be much lower than anticipated, even though several of the largest insurance companies opted out of participating in the exchanges.
But a closer look at the plans reveals two important considerations:
- The plans are “narrow-network” plans. To keep costs
… Continue reading
Cancer and bankruptcy
A large study looking at the cost of cancer was released yesterday by the Hutchinson Institute for Cancer Outcomes Research in Seattle. It offers a somber but perhaps not surprising conclusion that cancer patients are “2.5 times as likely as others [non cancer patients] to file for bankruptcy.”
The highest rates are seen among young women, largely because young people are often uninsured, have little savings, and have part-time or entry-level jobs. But as the study points out, even those with insurance can face “financial distress” because of the high cost of deductibles, co-pays and other non-covered … Continue reading
I mentioned in a previous post that three years ago my husband almost died from a series of medical, um, misjudgments, let’s say. I know sometimes things go wrong for no reason, but I also know his three-day ICU stay could have been prevented.
He never received a “mea culpa” from the doctors or hospital; all we got were the medical bills. Our insurance, a catastrophic/health savings account (HSA) plan, paid 100% of the costs after we met our deductible and out-of-pocket maximum ($10,000). At that point we stopped receiving bills, so I don’t know the exact total of … Continue reading
Like many others, I’m still trying to understand Monday’s horrific bombings at the Boston Marathon. Who did this, and why?
What I do know is that our emergency response and medical teams are the best in the world; I used to work in the OR of a large, level-one trauma center and have seen these teams in action. The injured will receive swift and highly-skilled care without regard to pre-existing conditions or insurance status.
However, a different team, the patient accounts personnel, will work quickly to document victims’ names, addresses and insurance carriers (if any).
It seems a second tragedy … Continue reading
That is the opinion of the health exchange boards in Washington, D.C., California, Connecticut, Massachusetts, Rhode Island and Vermont (so far).
Each state (and D.C.) that creates a health insurance exchange under the Affordable Care Act (ACA) has an exchange board that is responsible for establishing certain rules and guidelines. Some definitions in the federal reform law have proved to be ill-defined and open to interpretation, such as “pre-existing condition.”
Most insurers that sell individual health plans charge smokers higher premiums because smokers … Continue reading
A few days ago, more bad news came out about the cost of individual health insurance in 2014. The Society of Actuaries (the financial risk experts that determine insurance costs) reported that next year insurance companies must anticipate paying out at least 32% more in medical claims.
The Affordable Care Act (ACA) will require insurance plans to provide more comprehensive coverage (essential benefits) and cover millions more people with pre-existing conditions. There is considerable doubt about how many young, healthy people and how many small businesses will participate in the insurance exchanges. If they don’t, premiums will rise even … Continue reading
Under the Affordable Care Act (ACA), small businesses and individuals will be offered “robust” coverage and “affordable” premiums on the soon-to-be-running health insurance exchanges.
By grouping together these two traditionally under-served populations, the risk pool will become large enough (theoretically) to allow everyone (most notably those with pre-existing conditions) access to health insurance, and will help keep premiums affordable (again, theoretically).
But there is a problem: small businesses are jumping ship.
According to the National Review Online, “Small firms and the specialized insurers that serve them may have found the lifeboats (to borrow Texas governor Rick Perry’s comparison of … Continue reading
During the presidential campaign last year, Paul Ryan, the vice-presidential candidate, presented his plan for what we all know is much-needed Medicare reform (too many baby boomers; too little money). Under his plan, seniors would choose a “Medicare certified” private health insurance plan and, depending on the senior’s income, a percentage of the premium would be subsidized.
His plan sounds a lot like the new health insurance exchanges that are set to begin in 2014, doesn’t it?
Yesterday, an article on the National Review Online caught my attention because the author presented a compelling scenario by which the government could … Continue reading
Last fall I blogged about an inherent unfairness in our health insurance system. (I know, there’s more than one.) In short, those with employer-sponsored insurance (ESI) generally have lower premiums, lower out-of-pocket costs, and better coverage than those of us that buy health insurance through the individual market.
With the new insurance exchanges, the Affordable Care Act (ACA) is supposed to decrease costs and improve coverage. Because of the law’s mandates for preventive services and essential benefits, coverage will be more equitable with the large, ESI plans. Whether premiums will be more affordable continues to be a topic of much … Continue reading