Medical Insurance news, September 2019

China's health insurance: A blue ocean strategy?

30 September 2019

China's 'internet medical service-insurance' concept is largely inspired by the Caesar model in the US. However, the US is a country dominated by commercial insurance, and it covers over 40% of the country's total medical expenditures.

In contrast, China's private health insurance covers for only 1.4% of total medical expenses, and the rest is covered by basic medical insurance.

At the same time, with the growing popularity of internet medical services, traditional insurance companies have begun to explore a similar route.

As most health screenings still need to be conducted offline, the focus is on improving coordination with offline traditional medical institutions.

Some within the industry believe that the trend of establishing hospitals will play a subtle role in promoting the development of the insurance industry, and ultimately achieve competitiveness in the aspects of medical cost control, product development, risk pricing, protection of consumer rights, and enrichment of insurance services.

With the increasing awareness of insurance among ordinary people, insurers will increasingly bear higher medical expenses.

This is a health insurance product launched in cooperation with a world renowned medical institution.

According to China Life, this is the first medical insurance in China that focuses on accurate diagnosis of cancer.

Read the full story at Asia Insurance Review.

California Provider to Close After Ransomware Attack Damages System

30 September 2019

California-based Wood Ranch Medical will permanently close its doors, after the provider was unable to recover its patient records that were encrypted by ransomware this summer.

WRM is still notifying patients of the security incident, as the encrypted servers contain patient data like names, contact details, dates of birth, medical insurance, and related health data.

WRM is the second provider in the last year to shutter after falling victim to ransomware.

Most recently, a ransomware attack on Digital Dental Record and PerCSoft locked about 100 dental providers out of their health records for nearly one month.

More than a week after a ransomware attack locked down its computer systems and network, Campbell County Health is still working to recover its systems and restore routine patient care.

Approximately 12,052 Washington residents have been notified their patient data was potentially compromised during a ransomware attack on Personal Injury Network Northwest.

Three servers of the Kent, Washington rehabilitation provider were encrypted with ransomware on April 22.

Given that patient data was stored on the impacted servers, officials opted to conclude the ransomware attack put the data at risk.

Read the full story at Health IT Security.

Americans’ struggles with medical bills are a foreign concept in other countries

29 September 2019

A night in a German hospital costs a patient roughly $11. And in the Netherlands - one of the few wealthy nations other than the U.S. where patients face a deductible - insurers usually must cover all medical care after the first 385 euros, roughly $431. Health care in the U.S. has long been unique.

In the Netherlands, just 1 in 90 households faces catastrophic health spending that competes with necessities such as food and housing, a recent World Health Organization analysis of patient spending in three dozen countries found.

Patients in the National Health Service usually face no medical bills when they go to the doctor or hospital.

All hospital care in Australia is similarly covered at no cost for patients, who are protected by a government health plan known there as Medicare.

Keeping insurance premiums and medical bills in check has helped keep overall health care spending far lower in most wealthy countries than in the U.S. Last year, for example, America's total health care tab, including spending on government programs, private health insurance and patients' out-of-pocket costs, exceeded $10,000 per person, according to government data.

In Canada, patients can face substantial delays for care, with 18% reporting having to wait four months or longer for an elective, nonemergency surgery, compared with just 4% in the U.S., according to a recent international survey conducted by the Commonwealth Fund, a New York-based foundation that studies international health systems.

The death rate from these avoidable conditions is more than 30% higher in America than in the United Kingdom and Germany, and nearly twice as high as in Australia, France and Norway, according to an analysis by the European Observatory on Health Systems and Policies, a partnership of international health researchers.

A month's supply of the popular arthritis drug Humira, for example, tops $2,505 on average in the U.S., according to a 2015 analysis by Bloomberg News and research firms SSR Health and IHS Inc. In Britain, where the National Health Service sets prices, the drug costs $1,180.

Read the full story at Salina Journal.

Alarming rise in insurance claims for heart ailments by Indian youth

28 September 2019

On the eve of the world heart day that falls on September 29, a recent study has found that there has been a 72 per cent rise in the number of medical insurance claims due to heart-related ailments from 2016 to 2019, with an average claim size of Rs 1 lakh to Rs 1.2 lakh.

Strangely, there has been an 86 per cent rise in the number of females claiming insurance because of heart-related ailments in the three-year period, while the same figure for men was 66 per cent.

The study was conducted by Bajaj General Insurance from their internal claims data.

The age between 50 to 60 years proved the average claiming age with the highest number of heart ailments.

What is more striking is that there has been a 57 per cent increase of claims pertaining to heart ailments in the age group of 20-30 years and 55 per cent increase in the 30-40 years bracket.

Heart ailments that resulted in the highest number of claims along with claims size include cardiomyopathy, carditis, congenital heart disease, hypertensive heart disease, ischaemic heart disease, rheumatic heart disease and valvular heart disease.

The company observed from its internal claims data that the average age of its policyholders falls in the bracket of 31-45 years and the sum insured ranges between Rs 5 lakh and Rs 10 lakh.

Medical expert Dr Sanjay Bhat felt that of late, there has been a consistent increase in the number of heart patients, especially the younger lot.

Read the full story at The Week.

‘Medicare For All' Popular Among Voters; Critics Point To Waste, Fraud In Current Program

27 September 2019

Currently, 44 million Americans receive Medicare benefits.

Medicare was enacted back in 1965 and provided health insurance to people over the age of 65.

Prior to the legislation, it was difficult for people over 65 to find medical insurance coverage.

Biden made the case for his plan in a recent conversation with CBS News Political Correspondent Ed O'Keefe.

At the last Presidential debate he said the current system just needs to be tweaked.

Earlier this year federal authorities announced criminal charges in a $1.2 billion fraud case where organizers of the scheme were prescribing unnecessary medical equipment like back and leg braces and then billing Medicare.

According to the Department of Justice, in 2018 alone, they prosecuted $27 million in False Claim Act violations.

Read the full story at CBS.

Health system's tool aims to end pharmacy sticker shock

25 September 2019

When Dr. Gary Konkol writes a prescription at Allina Health Woodbury Clinic, the electronic medical record pops up with messages about drug interactions and, depending on the patient's insurance and pharmacy, how much it is going to cost.

Allina's prescription pricing tool allows doctors to compare prices and explore more affordable alternatives.

It is one way medical providers are addressing rising drug prices and the prospect of patients abandoning prescriptions at the pharmacy due to the inability to pay.

The system, at all Allina Health facilities, including District One and Owatonna hospitals, is not perfect, he added, as drug prices do not show up for all patients because of out-of-date formularies.

A formulary is a list of name-brand and generic drugs covered under a prescription drug plan.

Spending on prescription drugs in the U.S. has steadily increased over the past decade, according to a 2018 fact sheet by the Pew Charitable Trusts' drug spending research initiative.

One projection has drug spending reaching $584 billion in 2020, up from $356 billion in 2010.

Read the full story at SoutherMinn.

Officials outline possible new medical insurance costs for county employees

25 September 2019

Iosco County Treasurer/Administrator Elite Shellenbarger and Clerk Nancy Huebel outlined a breakdown of the potential cost to county employees for health care benefits as the county tries to balance a nearly $500,000 budget shortfall.

Healthcare costs have been highlighted by both officials as a big expense in the county.

During an August meeting Shellenbarger discussed the idea of the county switching to an 80/20 option, where employees would pay for part of the insurance capitulation to have health benefits.

Shellenbarger provided hard numbers for commissioners during the Sept. 18 meeting, showing numbers that employees could potentially help balance the budget, but keep employees from having to pay into the 80/20 option, but still contribute to their health insurance.

Under the county's plan, if employees paid the difference, single payers on the insurance would have to pay $149.89 annually for their medical insurance, or $5.77 per check for each of their 26 pay periods.

Although the costs would be new, according to Shellenbarger's breakdown, the costs are not as significant as if the county went with an 80/20 plan.

If the county elected to go with the 80/20 plan single payer employees would have to pay $1,393.

Huebel said that the county is getting other insurance quotes from different providers, and the rates are from Mark Elliot of Tawas Bay Insurance for Blue Cross Blue Shield of Michigan medical insurance.

Read the full story at Iosco County News-Herald.

Kenya: 51% of the Population Not Listed in Health Insurance Schemes

24 September 2019

A study commissioned by People's Health Movement Kenya now indicates that up to 51 per cent of Kenyans do not have medical insurance.

The survey findings released by Infotrak Chief Executive Officer Angela Ambitho on Monday shows that 51 per cent of Kenyans don't own a medical insurance cover while 49 per cent have some sort of cover.

According to the research, National Health Insurance Fund was singled out as the medical cover with the widest coverage at 89 per cent.

Universal Health Coverage card is held by about 8 per cent of Kenyans while 5 per cent have personal health cover.

Four in ten Kenyans in the Universal Health Coverage pilot counties have registered for a UHC card translating to 42 per cent.

40 per cent of Kenyans feel healthcare is poor while 32 per cent rated it at average.

Poor medical services have been cited as the main reason for not accessing health services from health facilities by most Kenyans, followed by inadequate healthcare facilities.

Read the full story at All Africa.

Social Insurance in China: Some Exemptions for Foreigners in China

24 September 2019

While regional authorities manage the social insurance system - not all regional governments have enacted the implementation rules for China's international social security agreements.

The Ministry of Human Resources and Social Security requires foreign employees working in China to participate in its social insurance scheme as detailed in the Interim Measures for the Participation in Social Insurance of Foreigners Employed in China, 2011.

According to Chinese labor law, any foreigner employed by a legally registered entity in China or any foreigner dispatched to a registered branch or representative office of a foreign company - must participate in basic pension insurance for employees, basic medical insurance for employees, work injury insurance, unemployment insurance, and maternity insurance.

Since all regional authorities have not implemented rules in accordance with international social security agreements - which increases the difficulty in obtaining exemptions - employees from countries that have agreements with China are eligible for social insurance exemptions.

The ten bilateral agreements with China for social insurance payment exemptions that have been implemented are shown in the table below.

The China-Japan social insurance agreement, which took effect September 1, 2019, will exempt Japanese nationals from China's basic pension contribution as well as exempt Chinese nationals from Japan's National Pension and Employees' Pension Insurance.

The entity that employs the foreign employee in China must submit original certification of insurance issued by a relevant entity in the country of origin to the local Chinese social insurance bureau.

Finally, companies should note that failure to pay social insurance premiums when not in receipt of explicit consent from the local social insurance bureau bears inherent risk.

Read the full story at China Briefings.

Your health insurance cover not enough? How to get interest-free loan during medical emergency

23 September 2019

The plan is one of dozens of unconventional insurance policies sold by ZhongAn Online Property & Casualty Insurance Co., a nearly six-year-old company whose backers include Chinese tech giants Ant Financial Services Group, Tencent Holdings Ltd. and Ping An Insurance Group Co. Under the policy, parents can send swabs from their child's mouth to a lab for a free DNA test after purchasing the plan.

China's online insurance industry is booming, thanks to a proliferation of oddball policies that capitalize on people's worries about unlikely events like ineffective vaccinations, and common mishaps like e-commerce shipping delays and broken smartphone screens.

Last year, online insurers collected 189 billion yuan in premiums, representing about 5% of the overall insurance market, according to Wind Information Co., a data provider.

There are more than 100 companies in China - including life and nonlife insurers - licensed to distribute or sell insurance policies online, according to data from the Insurance Association of China.

ZhongAn last year sold insurance policies to more than 400 million customers in China and collected an average premium of 28 yuan per individual.

Another low-cost product, one of ZhongAn's most popular health-insurance policies, offers payouts of up to 6 million yuan for medical expenses on top of what is covered by public health insurance, for a minimum annual premium of 136 yuan.

Because public-hospital costs in China are relatively low and public health insurance is nearly universal, most people are unlikely to incur extremely high costs of treatment in China.

Chen Dongmei, an associate professor of insurance at Fudan University in Shanghai, says ZhongAn could incur high consumer-acquisition costs, as distribution channels that help it reach consumers can charge hefty fees or commissions when they sell its policies.

Read the full story at The Morning Star.

Your health insurance cover not enough? How to get interest-free loan during medical emergency

23 September 2019

Due to inadequate number of government hospitals, a person either needs to spend lots of time and efforts to stand in long queues in crowded state-run health facilities or pay hefty bills of private hospitals, where the rate of increase in healthcare costs is much higher than the average rate of inflation.

In today's fast life, people, especially those working in the private sector, don't have time and adequate leave to visit government hospitals for weeks and months and hence face the risk of paying exorbitant bills of private hospitals, which may exceed his/her paying capacity.

To cover the risk of paying uncertain medical bills at private hospitals, people take medical insurance by paying a certain amount of premium, which is known and can be paid with ease.

Health insurance policies cover only diseases and accidental injury cases and most insurers don't cover maternity and other conditions, which are not treated as disease or illness, even as these involve a lot of cost in private hospitals.

Some insurance companies pay a fixed amount on the basis of certain percentage of basic sum insured for child birth and other conditions, but the amount may prove inadequate.

To solve the problem, CareCover has come up with a unique concept of providing interest-free loan up to Rs 5 lakh to holders of its Medical OPEX Finance Card, annual fee for which is between Rs 999 to Rs 1,999 depending on the number of family members covered.

Depending on eligibility, which is calculated on the basis of CIBIL score and ability to pay back, CareCover offers loans up to Rs 5 lakh for treatment in its network of 1800+ hospitals, which includes many of the country's top facilities.

In case a customer is not able to repay the loan in 12 months, the EMI limit is set according to the salary of the customer and nominal interest rate of 1.5 per cent is charged per month from 13th month onwards.

Read the full story at The Financial Express.

Insurance industry needs disruption

22 September 2019

The decrease in insurance penetration rate in Kenya to a low of 2.4 per cent last year is not that mysterious.

Ideally, the growth in the economy should go hand in hand with growth in insurance.

Increased wealth leads to higher demand for insurance.

Free money in that I pay for insurance whose benefits I may never get beyond peace of mind.

Without mandatory insurance the penetration rate would be even lower.

Insurance firms could randomly pick their customers for a jackpot at the end of the year.

On the surface the industry is competitive, going by the number of insurance firms.

Add the fact that 80 per cent of the insurance market is in Nairobi.

Read the full story at The Standard.

On A Business Trip Abroad: 10 Tips For Handling Medical Emergencies

22 September 2019

Overseas business trip poses many challenges, and these challenges only accentuate in case of emergencies-especially medical emergencies.

Medical emergencies are called so because of reasons.

It is advised that you keep in mind a few tips that can help you manage medical emergencies intelligently.

Special conditions need special attentionIf you are dealing with a particular medical condition such as cardiovascular disease, then you must bring along the medicines prescribed to you.

Many times credit card companies also offer discounted medical treatments abroad.Contact DetailsIf you want to able to handle emergencies with utmost immediacy, then you must keep close certain contact information with yourself.

You should consider making an emergency contact card, maintaining copies of your bio-data and medical prescriptions, and saving the contact information of your country's embassy in the visiting country.

Consider Joining An International Medical ServiceYou might not know about this, but there are several international medical membership organizations which assist in making arrangements during emergencies.

The point is that you should know which number to call when faced with a medical emergency.

Read the full story at CEO World.

Avoid Going Broke In Retirement

21 September 2019

If you can avoid making these seven common retirement planning mistakes, you'll be halfway there to living a long, financially secure life.

You can significantly increase your retirement income by delaying your retirement, even if it's just for a few years.

Social Security is the best retirement income generator hand's down, and for most retirees, it's the largest source of their retirement income.

Social Security protects you against common retirement risks, including living a long time, stock market crashes, and inflation.

Many people might need to reduce their living expenses in retirement, since they won't have enough retirement income to support their current level of spending.

There are more retirement planning mistakes that it's possible to make, but working on these is a great start.

While it's straightforward to identify the retirement planning mistakes you should avoid, the steps you might need to take to make your life even better are usually highly personal to your goals and circumstances.

It's going to take some time and effort to plan for a successful retirement, but it's worth the effort.

Read the full story at Forbes.

UAE’s basic medical insurance rates need a rise

21 September 2019

To make it work, employers will have to do their bit in meeting the increased cost of providing health care, while insurance companies have to reduce the discounts being demanded from health care providers.

Currently, Dubai has what is known as the 'Essential Benefit Plan', which offers access to a set of outpatient and inpatient treatment over a 12-month period.

Three years after Dubai and Abu Dhabi mandated compulsory medical coverage, hospital and clinic operators reckon that premium is way too little to cover their costs.

Sure, in these three years, health care facilities have seen double-digit increases in those seeking consultations and further treatment.

The fact remains the cost of administering health care has risen just as significantly.

Each year, Dubai Health Authority allows health care providers to raise their consultation/treatment costs by 2-3 per cent to cover for inflation.

Insurers add to the pressures Health care providers say that making a desperate situation worse are demands by insurers.

Read the full story at Gulf News.

Kazakhstan to launch compulsory health insurance 10 years in the making

20 September 2019

After almost a decade's effort, Kazakhstan plans to launch in January 2020 a new system of compulsory insurance.

The system is meant to lower the cost of healthcare and expand the number of Kazakhs who have access to healthcare through compulsory contributions by citizens and businesses to the national healthcare system.

Minister of Healthcare of Kazakhstan Yelzhan Birtanov and Chairman of the Board of Directors of the Fund for Social and Medical Insurance Aibatyr Zhumagulov were the main speakers at the event.

The Compulsory Social and Medical Insurance programme is less expensive and carries fewer political risks than private insurance, they believe.

Contributions to the Fund for Social and Medical Insurance are made by companies and citizens, where companies make bigger contributions to compensate for relatively low incomes.

The regulator, the Ministry of Healthcare, says now the policy offers a three-tier model with guaranteed medical care covered by the state, an additional package of CSMI and voluntary medical insurance not covered by the guaranteed package, with stages to be launched step-by-step.

Signs of underfunded healthcare could be seen in the share of its expenditures in the national budget of Kazakhstan.

In 2018, 2,000 foreigners came to Kazakhstan for medical services.

Read the full story at The Astana Times.

Retirees are spending nearly $1,000 on this medical cost — and Medicare doesn’t cover it

20 September 2019

In all, 37 million people - nearly 2 out of 3 Medicare beneficiaries - have no dental coverage, according to the Kaiser Family Foundation.

People who do have dental insurance tend to get it through private Medicare Advantage, Medicaid and other private plans, including individually purchased coverage and workplace retiree insurance, according to Kaiser.

The organization recently examined potential policy changes that could expand dental coverage to Medicare beneficiaries.

Those changes include adding a dental benefit to Medicare Part B and creating a voluntary dental benefit under a new part of Medicare.

While dental coverage can take the edge off some costs, patients may still be on the hook for high bills.

Even with dental coverage via Medicare Advantage, this same patient would be on the hook for up to $3,300.

Know your plan: Whether it's offered to you through a retiree health plan or as an add-on to your Medicare Advantage plan, get a solid understanding of your deductibles, applicable co-payments and coinsurance.

Read the full story at CNBC.

Does Insurance Cover Medical Marijuana?

19 September 2019

The demand for medical marijuana has increased so much in the United States that more than half of all states have legalized some form of medical marijuana use.

The majority of insurance companies have been slow to enter the medical marijuana insurance market because of complications with regulations, legal cloudiness and the shortage of data on the effectiveness and long-term effects of medical marijuana.

Broader public acceptance and an ever-growing number of states legalizing and decriminalizing medical marijuana could prompt more major insurance companies to consider offering coverage of marijuana for medical and adult recreational use.

With cannabis being legal in some form in 47 states now, including medical, recreational, CBD and hemp, the insurance industry is working on filling in insurance coverage gaps for marijuana consumers, workers and business owners who may not have insurance to help them recover if they have accidents, injuries, property damage or any situation personal and commercial would normally cover.

Lawyers, marijuana advocates and insurance industry leaders say it took time for marijuana legalization to take place, it will take as longer to iron out all the questions the changing marijuana legislation has raised.

Now advocates say that marijuana must be decriminalized on the federal level before insurance carriers gain enough clarity and confidence to begin allowing medical marijuana to be covered by health insurance.

Workers' compensation has already started to cover medical marijuana and employer-based company plans also could be altered to cover medical marijuana.

If medical marijuana receives FDA approval and coverage from large national insurance companies, an increase in protections for medical marijuana patients could be expanded.

Read the full story at Bezinga.

Understanding the legal aspects of medical insurance

19 September 2019

First, the contracting parties in the insurance contractual relationship are the policyholder and the insurance company.

The list of beneficiaries of medical insurance is headed by non-Saudis working in the non-governmental sector and their families, followed by residents who are not employed in the private or public sector, and their families as well.

In case of female employees, medical insurance covers her children and her husband, if he works at one of the government agencies that are not subject to compulsory insurance, or in another sector that does not provide medical insurance, or is unemployed.

The system obliges companies to subject all their employees to medical insurance, after applying to one of the insurance companies accredited in the Kingdom for cover.

The law states that no medical insurance application may be refused or rejected as long as it complies with the provisions.

It is worth mentioning that if there was no response from the insurance company within the specified period, the hospital will consider the application approved, naturally after making sure that the insurance company received the request.

The council undertakes the supervision of the parties to this relationship to ensure the comprehensiveness of health insurance coverage and to ensure that the parties of the health insurance relationship are implementing their obligations and responsibilities, whether through reports or supervisory visits.

Finally, the subject of medical insurance is important to each of us, and we must make sure that we understand the rights covered in the policy and inquire about any questions.

Read the full story at Arab News.

Global Medical Insurance Market 2019 – Chubb, AIG, Hiscox, Allianz, Tokio Marine Holdings, XL Group, AXA, Travelers

19 September 2019

The Medical Insurance report delivers a comprehensive and systematic framework of the worldwide Medical Insurance Market at a global level that includes all the key aspects related to it.

The Global Medical Insurance Market 2019 report offers clear-cut information about the key business-giants Chubb, AIG, Hiscox, Allianz, Tokio Marine Holdings, XL Group, AXA, Travelers, Assicurazioni Generali, Doctors Company, Marsh & McLennan, Liberty Mutual, Medical Protective, Aviva, Zurich, Sompo Japan Nipponkoa, Munich Re, Aon, Beazley, Mapfre, Physicians Insurance, Ping An, State Farm, Anthem, UnitedHealth Group, challenging with each other in the worldwide Medical Insurance in terms of demand, sales, revenue generation, reliable products development, giving best services, and also post-sale processes at the global level.

This Global Medical Insurance Market 2019 report is integrated with primary as well as secondary research of the Global industry.

The Global Medical Insurance Market 2019 report is based on key players, which are combined by market share, history of growth and Industry forecasts, it provides in-detailed information, basic needs of the market, and the report shows the how this market is growing Globally.

Chapter 1, to describe worldwide Medical Insurance Market 2019 Introduction, product scope, market overview, market opportunities, market risk, market driving force;.

Chapter 12, Global Medical Insurance Market 2019 forecast, by regions, type and application, with sales and revenue, from 2017 to 2022;.

In the end, worldwide Medical Insurance Industry 2019 report provides the main region, market conditions with the product price, profit, capacity, production, supply, demand, and market growth rate and forecast etc.

Read the full story at The World Industry News.

Health Insurance That Doesn’t Cover the Bills Has Flooded the Market Under Trump

19 September 2019

For the first time in a decade, the number of Americans without health insurance has risen - by about two million people in 2018 - according to the annual U.S. Census Bureau report released Tuesday.

The Diazes' plan was nothing like the ones consumers have come to expect under the 2010 Affordable Care Act, which bars insurers from capping coverage, canceling it retroactively, or turning away people with preexisting conditions.

The law includes an exemption for short-term plans that serve as a stopgap for people between jobs.

Fewer than 100,000 people had such plans at the end of last year, according to state insurance regulators, but the Trump administration says that number will jump by 600,000 in 2019 as a result of the changes.

Some brokers are taking advantage, selling plans so skimpy that they offer no meaningful coverage.

In interviews, lawsuits, and complaints to regulators, dozens of its customers say they were tricked into buying plans they didn't realize were substandard until they were stuck with surprise bills.

The company denies responsibility for any such incidents, saying it's a technology platform that helps people find affordable policies through reputable agents.

The ACA was designed around a fundamental economic bargain: Insurance companies would no longer be allowed to deny coverage to people who were already sick, and policies would have to cover a broad set of benefits, including prescription drugs, maternity care, and hospitalization.

In return insurers were guaranteed that consumers would buy coverage or face tax penalties, and that subsidies would be available for people who needed them.

When the Republican-controlled Senate failed in 2017 to pass Trump-backed legislation that would have gutted the ACA, the administration instead seized on the loophole allowing consumers to buy certain noncompliant plans.

Trump used an executive order to extend the time limit for temporary plans, which he and other Republicans talked up as a potential solution for cash-strapped consumers.

Read the full story at Bloomberg.

Breaking a 10-year streak, the number of uninsured Americans rises

18 September 2019

For the first time in a decade, the number of Americans without health insurance has risen - by about two million people in 2018 - according to the annual U.S. Census Bureau report released Tuesday.

Census officials said most of drop in health coverage was related to a 0.7 percent decline in Medicaid participants.

The increase in the number of uninsured people in 2018 was remarkable because uninsured rates typically fall or hold steady when unemployment rates drop.

The uninsured rate continued to vary by poverty status and whether a state expanded its Medicaid program under Obamacare.

Texas, Oklahoma, Georgia and Florida had the highest uninsured rates in 2018, according to the report.

The percentage of uninsured children under the age of 19 increased by 0.6 percentage points from 2017 to 2018, to 5.5 percent.

One reason for the drop in health coverage is that middle-income families can't afford the rising cost of insurance in the individual market, particularly if they don't qualify for government subsidies, he added.

Read the full story at The Louisiana Weekly.

Medical insurance fund in HCMC short of $ 77.6 million

18 September 2019

2019 is the first year the Government has provided packages of the health insurance fund to every province or city based on 2018 medical insurance spending.

Worse, additional 200,000 patients will buy insurance card from now to the end of the year; accordingly, medical insurance fee will rise, as Mr. Men said.

As a result, medical insurance fee in the city is estimated to be short of VND 1,800 billion, he concluded.

Mr. Men affirmed that presently, the insurance agency is asking medical facilities to control medical insurance and not abuse the fund.

The agency has refused to pay cases which have improperly spent the fund as well as kept an eye on medical facilities with high payment of insurance.

Read the full story at SGP News.

Global Health and Medical Insurance Market 2019 Rising Trends – Anthem, UnitedHealth Group, DKV, BUPA

18 September 2019

Fior Markets presents a new study report titled Global Health and Medical Insurance Market Growth 2019-2024, complete research analysis of Global Health and Medical Insurance Market which submerges industry's new upgrades, current market pilots, standardization, opportunities, technical domain, and remarkable trends.

Regional classification of the Global Health and Medical Insurance report: Health and Medical Insurance market report analyses the market potential for each geographical region based on the growth rate, macroeconomic parameters, consumer buying patterns, and market demand and supply scenarios.

The report further explains the company profiles of the key players in the Health and Medical Insurance market and an evaluation on the major strategies employed by these key players in order to gain a bigger share in the Health and Medical Insurance market.

The Analysis Aims of The Global Health and Medical Insurance Market Report Would be: To establish a factual, comprehensive, annually-updated and profitable information grounded on production, capabilities, strategies, and goals of the key companies.

Global Health and Medical Insurance Research Report study mainly covers below chapters to deeply display the Health and Medical Insurance market.

Chapter 1 - Health and Medical Insurance market report narrate Health and Medical Insurance industry overview, Health and Medical Insurance market segment, Health and Medical Insurance Cost Analysis, Health and Medical Insurance market driving force.

Chapter 3 - Health and Medical Insurance market by typeChapter 4 - Main companies catalog, market report scrutinize the leading manufacturers of Health and Medical Insurance, Health and Medical Insurance industry Profile, and Sales Data of Health and Medical Insurance.

Chapter 8 - This report also explains Health and Medical Insurance sales channel, distributors, traders, dealers, Health and Medical Insurance market Research discoveries and Conclusion, appendix and data source.

Read the full story at Mach Tribune.

This uncertain economy is pushing a third of millennials to visit the doctor

18 September 2019

Over half of millennials admit that the state of the economy plays a role in how they think about health care, according to a new survey of 2,500 U.S. adults by TransUnion Healthcare.

About half of Americans get their medical insurance through their employer, according to a recent data from the Kaiser Family Foundation.

The number of Americans with health insurance dropped for the first time last year, due in part to political efforts to weaken the Affordable Care Act.

An average healthy American with insurance making $50,000 a year is still stuck paying $2,220 in premiums and out-of-pocket costs, according to KFF. Over half of Americans, 59%, say they paid over $500 for out-of-pocket medical costs in 2018, while 5% say they paid over $1,000, according to a survey from TransUnion Healthcare.

Millennials in particular, are taking a hard look at the cost of going to the doctor before they book an appointment, results from the TransUnion survey found.

If you're concerned about the cost of a visit to the doctor or a specific procedure you've been putting off, Wiik recommends checking with your insurance company and your specific physician before setting up an appointment.

Many times, they will be able to give you information on your co-pay or an estimate on the cost of routine services such as MRIs or X-rays.

Consumers should keep in mind that hospital estimates may not always include all of the physician costs and fees associated with variables such as anesthesia.

Read the full story at CNBC.

'Wildly inflated': California wastes billions on overpriced health insurance

17 September 2019

Not only are California taxpayers shelling out over $3 billion every year to cover health insurance for government workers, but those benefits cost 50 percent more than the average.

The inflated cost of the health benefits for California public employees was found in a new analysis conducted of local and state government agencies by Transparent California.

The study of 672,000 payroll records spanning over 1,500 of California's city, county and state offices found that an average of $14,288 was spent on medical insurance per employee, an amount exceeding the regional average of $9,381 by 52 percent.

Even more eyebrow-raising were the amounts being paid for employees at California's special districts, including one example at the Central Contra Costa Sanitary District where the $29,923 average cost was more than triple the market average.

The Los Angeles Department of Water and Power had 153 workers who enjoyed health plans costing $57,816 each.

Health benefits for the general manager at Riverside County's Rubidoux Community Services District totaled $55,717 while health plans cost more than $36,000 each for government employees in Anaheim.

A recent survey from the Kaiser Family Foundation indicated that 92 percent of family medical plans cost less than $26,000 while the U.S. Bureau of Labor Statistics found that an average of $5,291 is spent for a single worker's medical coverage by private employers.

The Water Replenishment District of Southern California had average health care costs that were triple the national average, providing $29,207 per worker at the special district which only has 46 employees.

Read the full story at Bizpac Review.

NHS faces hundreds of thousands of extra patients if Labour raises tax on private medical insurance

17 September 2019

The NHS might be swamped with a whole lot of 1000's of additional sufferers if Labour presses forward with plans to lift tax on personal medical insurance coverage, specialists warned final evening.

Labour is regarded as contemplating elevating the tax on personal medical cowl from 12 to 20 per cent, bringing it in step with the speed of VAT. That might end in 250,000 Britons ditching personal insurance policies in favour of the NHS - at a value of hundreds of thousands a yr in additional care and administration prices, in line with an impartial forecast.

Though perceived to be the protect of the rich, many personal medical insurance coverage clients are older people on restricted pensions, mentioned Alex Perry, chief government of Bupa Insurance coverage UK. He mentioned: 'In the event that they drop out as a result of they'll not afford it, then they grow to be solely reliant on the NHS for his or her care.

Mr Perry mentioned the overall quantity dumping personal well being cowl may even high 250,000 because the determine - produced by the Centre for Economics and Enterprise Analysis consultancy - doesn't embody hundreds of thousands of company well being insurance policies.

'Any disincentive towards people accessing private healthcare will only increase the number of patients relying on the NHS instead, thus increasing NHS waiting times and over-burdening the NHS system even more,' he mentioned.

Stuart Scullion, of the Affiliation of Medical Insurers and Intermediaries, added: 'Cost is the biggest reason for cancelling medical insurance.

The CEBR report, commissioned by Bupa, discovered every one per cent rise in tax on personal premiums generated £37 million in additional tax revenues.

Mr Scullion added: 'Potentially there is a net financial loss to the NHS because it won't obtain all the additional cash raised in tax - however it is going to incur all of the elevated value of getting to deal with individuals who not have personal medical insurance.

Read the full story at Herald Publicist.

Turkey Health And Medical Insurance Market Study and Professional in-depth Industry Analysis 2019 to 2024 – Business Intelligence

17 September 2019

A complete background analysis of the Turkey health insurance industry, including an assessment of the national health accounts, economy, and emerging market trends by segments, significant changes in market dynamics, and market overview, is covered in the report.

The Turkey health and medical insurance market is expected to register a healthy CAGR of 18%, during the forecast period of 2019-2024.

In order to support the Universal Health Insurance initiative, Turkey must focus on the private health insurance sector, which presently accounts for only 2% of the overall health insurance coverage in the country.

With policies that are simplified and explained in detail to the buyers of the health insurance policies, growing number of Turkish people may come forward to get health coverage, thus increasing the demand for private health insurers, leading to a double digit growth in the market.

Top up insurance is the fastest growing portion of the private medical insurance market in Turkey.

According to the Insurance Association of Turkey, in 2016, health premiums increased by 22.9%, compared to the previous year.

The advent of complementary health insurances in this area indicates that the demand for private health insurance may increase in the coming years, and that there may be more growth in this area.

Since the inception of complementary health insurance in 2013, there has been significant rise in the health insurance coverage, owing to the availability of qualified and high standards of healthcare in private health institutions.

Read the full story at Business Intelligence.

Backbone of health insurance in India is a bunch of medical lies

17 September 2019

Liver transplantation is an entirely different ball game, most transplants in India cost between 20 to 30 lakh rupees and rarely do insurance companies reimburse the amount in full.

The malaise lies in the ridiculous policy of the insurance companies-clauses like no coverage for 1/2/3 or 4years for pre existing illness.

If any public health researcher ever studies liver disease from medical insurance records-he will find alcohol as a non existent cause when the reality is different.

Such falsehood can be avoided with transparency and fair insurance policies.

Only a minority of insurance policies cover pre existing illness from day one.

If insurance companies include and quantify alcohol consumption and determine the premium amount proportionately, much of such falsehood can be avoided.

The falsehood on which medical insurance is based in India can be avoided.

Read the full story at MediBulletin.

What Americans on Medicare currently spend in out-of-pocket costs

16 September 2019

The current Medicare system is a federal health insurance service for more than 60 million Americans over the age of 65, as well as those with qualifying long-term disabilities who can apply at younger ages.

Medicare costs are broken down into a series of plans, known as Parts A through D. Most of those on Medicare don't pay for Part A, which is hospital insurance.

Premiums alone have gone up from $105 a month in 2013 to $135 a month in 2019 for the standard Medicare Part B. Medicare estimated that in 2017, participants in good health and on Parts A and B alone paid $7,620.

It's difficult to predict exactly how much Americans would pay with a Medicare for All plan.

On the surface, the average person currently spends less on out-of-pocket costs when using a private, employer-based insurance than Medicare.

Adding to the challenge of deciding which system would serve Americans better is the fact that Democrats' Medicare for All plans come in a variety of flavors.

Beyond the uncertainty around what a dramatic overhaul would mean for Americans' health-care options, critics and even supporters of the Medicare for All proposals also question how the country would pay for such a system.

Read the full story at CNBC.

City health insurance costs likely to increase

15 September 2019

The city's cost for employee health insurance is likely to go up next year, but life and long-term disability insurance costs may go down.

City board members are set to consider insurance contracts for both health insurance and for life and long-term disability insurance on Tuesday, according to the meeting agenda.

In a report to city directors, Adrienne Barr, human resources manager, recommends the city switch from Arkansas Blue Cross and Blue Shield to Cigna for health and medical insurance in 2020.

The other bidders were Arkansas Blue Cross and Blue Shield, with an increase of 25.5 percent, and United Healthcare with an increase of 20.5 percent, the report states.

Arkansas Municipal League did not submit a bid but provided a quote for a PPO plan that represented a 5 to 28 percent increase from current rates, but that included severe limits on coverage, the report states.

Their benefits are comparable to the city's current benefits and the company has committed $10,000 towards a Wellness Program the city can participate in, it states.

The city also published a request for bids for employer paid life insurance and long-term disability insurance since its contract with MetLife will expire on Dec. 31, according to a staff report prepared by Barr.

Read the full story at The Herald Leader.

Insurance premiums hit Sh117Bn albeit low penetration

15 September 2019

The increase in general business was mainly contributed by medical and motor private insurance classes of business which accounted for 66.8 per cent of the gross premium income.

Medical insurance, motor private and motor commercial were the largest contributors to the claims incurred with each contributing 33.6 per cent, 27.9 per cent and 25.1 per cent respectively.

According to the IRA , investors' equity funds grew by 4.0 per cent to stand at Sh157.

The shareholders' fund comprised of retained earnings at 39.3 per cent , share capital at 29.4 per cent , statutory reserves at 14.7 per cent , revaluation reserves at 2.6 per cent and share premium at 5.4 per cent.

During the period under review, the premium reported by the long-term insurers amounted to Sh44.25 billion, a growth of 6.9 per cent compared to Sh41.39 billion reported in Q2 2018.

In the three months, Jubilee insurance grew its market share by gross premiums from 9.3 per cent to top the list with a 9.8 per cent share.

It is followed closely by APA insurance with a gross premiums market share of 8.3 per cent , having increased from 6.3 per cent.

Britam comes in third with a 7.4 per cent share after increasing from seven per cent.

CIC insurance and UAP lost their market share from 7.6 per cent to 7.1 per cent and 7.7 per cent to 6.4 per cent respectively, though they remain among the top five largest holders of premiums.

Asset classes with the highest proportions of above five per cent were government securities,investment property and listed equities.

Kenya's insurance penetration remains at a low of 2.43 per cent.

Read the full story at The Star.

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