They’re Taking Our Jobs
The one thing that is becoming crystal clear about the ObamaCare health reform act is that no one understands it or more importantly understands its implications. Recent data “published this week by a left-leaning policy think tank contradicted Republican claims that the law will exacerbate unemployment rates — but it also undercut the assertion by House Minority Leader Nancy Pelosi, D-Calif., that the law will create jobs.” So does this mean the net effect is 0 jobs? Probably not, and if so no one can prove it. The think tank the Urban Institute claims in its study, The basic conclusion is that the ACA will not have a noticeable effect on net levels of employment.” So essentially, this enormous change to the economic and social government has the potential to cause job losses, but that it should be under the right circumstances, ultimately be offset by employment increases triggered by other provisions.
Aetna Sues for Incredible Medical Bills
In the ultimate display of irony a recent news report has health insurer “Aetna Inc suing six New Jersey physicians over medical bills it calls ‘unconscionable,’ including $56,980 for a bedside consultation and $59,490 for an ultrasound that typically costs $74.”
Yes, you read that correctly. I only wonder if Aetna even paid the bills and then sued or sued in lieu of paying the claims. Bloomberg News adds, “The lawsuits could help determine what pricing limits insurers can impose on ‘out-of-network’ physicians who don’t have contracts with health plans that spell out how much a service or procedure can cost.” In particular, Aetna’s “lawsuits, filed in superior court in Camden, New Jersey, over the last eight months, allege the defendants violated New Jersey Board of Medical Examiners rules against excessive fees, and seek triple damages under state insurance- fraud laws against filing false or misleading claims.” So this piece might not have much to do with current health care reform news but it might have long reaching effects down the line.
GAO Analysis Finds That Health Insurance Denials Frequently Reversed On Appeal.
The Government Accountability Office, the investigative arm of Congress, has been busy fulfilling the requirements of these denials laws, which call for reports on various concerns from credit and debit card fees to the advice that workers are receiving about their 401(k) plans to application and coverage-denial rates for private health insurance.” The GAO reviewed data that “indicated that health insurance denials are frequently reversed on appeal.” Notably, “the GAO found that 39 percent to 59 percent of appeals filed with insurers in those states resulted in the insurer reversing its coverage denial.” So, a good piece of advice is to file an appeal if you are denied coverage.
Insurers Seek Growth Elsewhere
One big change that has been reflected in the stock prices of the health insurance sector (its way up) has been worried insurers to new business lines.
Where are they investing? In acquiring less-regulated companies that could yield strong profits and make the main business – insurance – more lucrative. The purchases also could increase insurers’ control over more parts of the health system.
Some insurers have moved into technology (including United messing around with SEO), health-care delivery, physician management, workplace wellness, financial services and overseas ventures in wide-ranging efforts to mitigate the new rules imposed by the law. Since June 2009, seven of the nation’s largest insurers have made 25 major deals, and only six of those acquisitions run health plans, according to an analysis of data collected by FactSet Research Systems, a private company.
