Industry Updates
This broad category includes articles concerning health insurance costs, carrier and health plan news, changing benefits technology, and surveys by the Kaiser Family Foundation and others on employee benefits.
The federal government is continuing to debate a response to the looming debt limit deadline, and, should that ceiling be breached, it has significant implications for the healthcare industry.
Individual market insurers are estimated to owe about $500 million in rebates to enrollees this year, a Kaiser Family Foundation analysis found. Small group market insurers are anticipated to owe about $330 million, and large group market insurers are expected to owe about $250 million.
Under the leadership of an aggressive opponent of anti-competitive business practices, the Federal Trade Commission is moving against drug companies and industry middlemen as part of the Biden administration’s push for lower drug prices at the pharmacy counter. On May 16, the FTC sued to block the merger of drugmakers Amgen and Horizon Therapeutics, saying ...
Disclosures included in Kaiser Permanente’s quarterly financial statements offer new details on the timeline for its major value-based care deal with Geisinger Health, as well as the upper and lower limits of its investment commitments toward the new entity and expanding Geisinger’s Pennsylvania market presence. The statements, released late Monday, recap the definitive agreement announced ...
House members participating in a Wednesday afternoon subcommittee hearing were in broad, bipartisan agreement that consolidation and other anticompetitive practices are prevalent across the healthcare industry and drive untenable costs for patients and the government. Based on their grab bag of witness questions and finger-pointing, however, it’s still up for debate which offending camp—pharmacy benefit ...
As artificial intelligence deployments increase in pace and scope in healthcare organizations around the globe, the World Health Organization this week issued a plea for vigilance and deliberation when it comes to how AI and machine learning models are put to use. WHY IT MATTERS The WHO called for “caution to be exercised” in how ...
Sen. Bernie Sanders (I-Vt.), whether in Congress or as a presidential candidate, has always taken strong positions against the high cost of prescription drugs. Since becoming the chair of the influential Senate Health, Education, Labor and Pensions Committee this year, he’s made lowering drug costs a top priority. It’s therefore not surprising that the senator would, during a ...
Oscar Health will pull out of California’s individual market for the 2024 plan year, CEO Mark Bertolini told investors Tuesday. “We’re announcing today that we have decided to pause our participation in the California individual market for plan year 2024, as the plan has not met our targets,” Bertolini said on the insurtech’s earnings call. ...
Million dollar claims per million covered employees rose 15% in the past year and 45% over the past four years, according to a new report from Sun Life. And one-fifth of employers had at least one member with more than $1 million in claims from 2018 through 2021. For self-funded employers, average cost is a good starting ...
There will never be a return to a pre-pandemic normal in terms of what health insurers, self-insured employers and other payers must cover, but they will in some ways be less burdened as COVID-19 recedes, according to Jeff Levin-Scherz, M.D., the population health leader for health and benefits in North America at Willis Towers Watson. ...