Yesterday I posted about the bomb blasts in Boston and questioned how the enormous medical bills would be paid.
Later, I was surprised to read an article on NBC News online that seemed to answer my question, at least in part: “Bomb’s medical costs could be in the millions, experts say.” The reporter gave an initial—and probably low—estimate of about $9 million.
According to a health economist quoted in the article, “It’s probably on the magnitude of $40,000, $50,000 (per person for emergency-room care). But for the people who will be hospitalized for weeks, you could easily be looking at … 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
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
For the last 15 years, my family has purchased an individual health insurance policy. Individual plans, as opposed to employer-based insurance, usually don’t cover vision. We could buy a separate vision policy, but in an average year the premiums would cost more than our annual eye exams, glasses and contacts combined.
Even Medicare doesn’t pay for routine eye exams and corrective lenses, except one pair after cataract surgery.
Of course, eye diseases and injuries (your mother always told you not to run with pointy objects, didn’t she?) are covered as medical care.
But I’ve always wondered why screening exams for … 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
I posted a couple weeks ago that health insurance companies wanted to increase the
penalty I mean tax on people who ignored the individual coverage mandate. The companies fear the penalty tax, only $95 the first year, is not stiff enough.
Well, according to recently released information from the IRS and the Department of Health and Human Services (overseers of the health law), the insurance companies have cause for worry. Not because so many people will ignore the mandate, but because so many people will be exempt.
Related reading from National Review Online: Obamacare’s pressure points
Who will be exempt? … Continue reading
On March 1, if Congress and the president do not reach some kind of fiscal accord, mandatory cuts to federal programs—sequestration—will take effect.
One of the many victims of such massive spending cuts will be the National Institutes of Health (NIH), the medical research arm of the Department of Health and Human Services. According to its director, Francis Collins, MD, the NIH, in a “profound and devastating blow,” will lose 6.4% of its budget.
Their loss, however, could be the drug industry’s gain.
In his book Overdosed America: The Broken Promise of American Medicine, John Abramson, MD, … Continue reading
Starting in 2014, one of the signature features of the Affordable Care Act (ACA) will be implemented: No adult with a pre-existing condition can be denied health insurance.
But it seems from recent news reports that both the administration and the nation’s health insurance carriers are getting a little nervous about exactly how much that will cost and whether sufficient funds will be available.
In theory, the individual mandate ensures that enough healthy young people buy insurance to keep premiums affordable and provide enough money to cover the care of the already sick. But no one knows with any certainty … Continue reading
I read with concern yesterday that one of the victims of the recent fiscal cliff deal was the program funding the creation of new non-profit health insurance carriers. Consumer Operated and Oriented Plans, CO-OPs for short, were meant to provide some much-needed competition to the private carriers on the health insurance exchanges and keep premiums more affordable.
At least, that was the theory.
But now Congress has sliced the program’s budget from $6 billion to $2.4 billion. And the money is in the form of loans, not grants. Besides the many other challenges facing these start-ups, they have a very … Continue reading