Morning Briefing
Summaries of health policy coverage from major news organizations
The Reality Of Paying For Health Care In America: Billions In Borrowed Funds, Debilitating Bankruptcy Fears And Skipping Treatments
The New York Times: Americans Borrowed $88 Billion To Pay For Health Care Last Year, Survey Finds
Americans borrowed an estimated $88 billion over the last year to pay for health care, according to a survey released on Tuesday by Gallup and the nonprofit West Health. The survey also found that one in four Americans have skipped treatment because of the cost, and that nearly half fear bankruptcy in the event of a health emergency. There was a partisan divide when respondents were asked whether they believed that the American health care system is among the best in the world: Among Republicans, 67 percent of respondents said they believed so; that number was 38 percent among Democrats. (Zraick, 4/2)
In other health industry news —
Pioneer Press: MN Health Insurers Earned $500M In 2018; Some Customers Could See Premium Rebates
Minnesota health insurers earned $500 million in 2018 — a margin of 1.6 percent, after collecting $31 billion in premiums and paying all expenses. The Minnesota Council of Health Plans announced the earnings numbers Monday. The council represents Minnesota’s seven nonprofit health insurers, which provided coverage for 5.5 million Minnesotans in 2018. The last time financials were this strong for council members was in 2011 when they earned a margin of 1.8 percent. Recent earnings were double what they were in 2017 following two years of costs outpacing revenues. (Magan, 4/1)
The Star Tribune: Minnesota Nonprofit Insurers See Operating Income Soar To $500M
Operating income for Minnesota’s nonprofit health insurers more than doubled last year as health plans made more money than expected in the market where individuals buy coverage — and could be issuing $37 million in rebates, as a result. The financial data released Monday show the continued recovery of the individual market, which provides coverage for a small share of all Minnesotans but has had an outsized impact on insurance company finances since changes with the federal Affordable Care Act (ACA). (Snowbeck, 4/1)
Politico Pro: Centene Extends Footprint While Criticisms Of Networks Echo
The company's $17.3 billion acquisition of WellCare Health Plans, announced last week, will make it a powerhouse in the Obamacare and Medicaid markets, with 22 million members across all 50 states and annual revenues of nearly $100 billion. The question is whether persistent complaints about overly restrictive policies and surprise billings will follow. (Demko, 4/1)
