CBO: Lowering Medicare Age Would Cost $155 Billion Over Five Years

Axios: Lowering Medicare Age Comes With Big Price Tag
Giving Americans over 60 access to Medicare would add about 7.3 million people to the program's rolls and swell the budget deficit by $155 billion over a five-year period, the Congressional Budget Office and Joint Committee on Taxation project said in a new analysis. While it's a popular idea with voters, the big price tag illustrates why Medicare expansion isn't gaining centrist support and remains a legislative long shot. (Bettelheim, 5/17)

In related news about health care costs in retirement —

Lincoln Journal Star: How Much Will Healthcare Cost In Retirement? Prepare To Be Shocked
It's a big misconception that living costs drop drastically in retirement. The reality is that some of your expenses might get lower, but some might also rise. Healthcare is likely to fall into the latter category. That's because medical issues tend to arise as we age, and also, because Medicare, which seniors commonly rely on starting at age 65, has its limitations. In fact, Fidelity recently ran some numbers, and it found that the average 65-year-old male-female couple retiring now should expect to spend a whopping $315,000 on medical costs. That figure assumes enrollment in Medicare Parts A, B, and D. (Backman, 5/18)

CNBC: Americans Can Expect To Pay A Lot More For Medical Care In Retirement
A 65-year-old couple retiring this year can expect to spend an average of $315,000 in health-care and medical expenses in their retirement, according to a new estimate by Fidelity Investments. That’s 5% higher than last year’s estimate. While much of the increase this year came from higher Medicare Part B premiums for Americans 65 and older, health-care costs are expected to remain elevated. “There’s a lot of upward cost pressure in the health-care system right now, due to investments that providers need to make to get ready for the next pandemic, due to issues around labor, particularly hospital nurses,” said Hope Manion, senior vice president and chief health and welfare actuary at Fidelity Investments. (Dhue and Epperson, 5/16)

In other health industry news —

Bangor Daily News: Maine Can't Do Much About A Big Dispute Between Its Largest Insurer And Hospital
A dispute between Maine’s dominant health insurer and hospital has exposed the state’s limitations in managing the relationship, with policymakers urging reconciliation while criticizing both parties in ways weighted toward their worldviews. MaineHealth’s April announcement that it would pull its flagship hospital, Maine Medical Center in Portland, out of a contract with Anthem Blue Cross Blue Shield at the end of the year due to financial friction. Such a move would carry seismic implications for Maine’s health care landscape. Maine Medical Center is unique because of its size and services it offers. Anthem is Maine’s largest insurer and the decoupling would mean anyone covered by it would be billed for costlier out-of-network services if they sought care at Maine Medical Center, except emergency care. (Andrews, 5/18)

Chicago Tribune: Northwest Community Hospital Planning $87 Million Cancer Center On Former Motorola Site In Schaumburg 
Northwest Community Healthcare and NorthShore University HealthSystem are hoping to build an $87 million cancer center on what used to be the Motorola campus in Schaumburg. Northwest Community, which became part of NorthShore last year, is proposing constructing the five-story, 105,000-square-foot center as a way to handle higher demand for cancer care and make it easier for patients to receive care. Now, cancer patients are treated in the basement of Northwest Community Hospital in Arlington Heights, according to an application filed with the state Health Facilities and Services Review Board, which must approve the project before construction can begin. (Schencker, 5/17)

Bloomberg: Cerebral Investors Push For Founder Kyle Robertson's Dismissal
Investors in Cerebral Inc., the online mental health startup that’s the subject of a federal investigation into its prescribing practices, have pushed to dismiss its founder and chief executive officer, Kyle Robertson, according to people familiar with the matter. Robertson remains CEO, though his access to the company’s internal communications systems was revoked late Monday, said one of the people, all of whom requested anonymity discussing the attempted ouster. (Melby, Tan and Mosendz, 5/17)

Fortune: Salesforce, Zoom, And Best Buy Are Using Technology To Change Health Care 
The pandemic gave patients more power than ever before, and millions of people are now taking charge of their health. For big companies, technology can help bridge surging new demands for primary and specialty care. Leaders from Salesforce, Zoom, and Best Buy recently shared seismic shifts in health care, and the technology they're deploying to help, with Fortune CEO Alan Murray at the Brainstorm Health conference. The leaders discussed how their companies are using data to change health care. (Chirinos, 5/17)

Modern Healthcare: Insurance Lobby Calls For Greater Oversight Of Private Equity Deals
The health insurance industry wants policymakers to require more transparency of private equity healthcare deals and increase oversight of health system consolidation, the trade group AHIP wrote in letters to President Joe Biden and congressional leaders Monday. AHIP outlines policies it argues would improve competition in the healthcare system and reduce costs. "In too many segments of our healthcare system, competition has been stymied by powerful healthcare providers and drug manufacturers gaming the rules to their advantage and inadequate laws and enforcement to protect competitive markets," AHIP wrote. Increasing transparency into private equity acquisitions and how they affect quality is a step toward improving the system, AHIP said. (Goldman, 5/17)

KHN: New Covered California Leader Urges Renewal Of Enhanced Federal Aid For Health Premiums
When she was Pennsylvania’s insurance commissioner, Jessica Altman, the appointee of a Democratic governor, often bumped against the political limits of health care policy in a state where Republicans controlled the legislature. Despite the constraints of a divided government, Altman played a key role in persuading lawmakers in 2019 to join Gov. Tom Wolf in passing legislation that established Pennsylvania’s state-run Affordable Care Act marketplace, known as Pennie. And she had a big hand in its launch in November 2020, as the first chairperson of its board. In March, Altman took the reins of Covered California, the Golden State’s ACA insurance marketplace, following the departure of its first executive director, Peter Lee. Altman will earn $450,000 annually. (Wolfson, 5/18)

Also —

Bay Area News Group: Woman Charged With Faking Credentials As Dental Hygienist In South Bay
An Arizona woman has been criminally charged with lying about her credentials and using stolen identities to work as a dental hygienist in the South Bay for at least five years, according to the Santa Clara County [California] District Attorney’s Office. Elizabeth “Mina” Larijani, 50, is charged with 16 felony and misdemeanor counts based on allegations she lied about being a state-licensed dental assistant or hygienist between 2015 and 2020. According to prosecutors’ formal complaint and investigative summary, she either worked at or applied to 11 dental offices in San Jose and Campbell. (Salonga, 5/17)