Tag

Private Health Insurance

All articles tagged with #private health insurance

healthcare1 year ago

"Push for Prior Authorization Reform Gains Momentum with New Federal Rules"

The Biden administration has introduced new rules to limit private health insurance companies' use of prior authorization, aiming to speed up the approval process and require companies to provide specific reasons for denials. While the regulations will impact about 105 million people, they exclude the largest pool of privately insured Americans and do not cover prior authorizations for medications. Patient advocates welcome the rules but argue they don't go far enough to address the issue, citing instances where patients faced significant hurdles to obtain necessary care due to prior authorization denials.

healthcare-business2 years ago

"Rising Medical Costs and Profit Warnings: Humana's Troubles Signal End of Private Medicare Boom"

Humana Inc.'s bleak earnings forecast and withdrawal of 2025 guidance signal a challenging future for private Medicare plans, with rising medical costs expected to impact profitability and potentially lead to increased costs for seniors. The company's shares fell sharply, dragging down the sector, as it anticipates having to raise prices and reduce benefits to maintain profit margins. The outlook reflects broader industry concerns, with other major insurers also facing uncertainties related to escalating medical expenses and regulatory changes.

healthcare2 years ago

Medicare Advantage Dominates Enrollment and Premiums in 2023

Medicare Advantage has surpassed original Medicare in enrollment, with 50.5% of beneficiaries enrolled in a private plan as of January 2023. Medicare Advantage plans have grown in popularity due to their lower costs and additional benefits, such as drug coverage and gym memberships. However, they often involve trade-offs, such as limited provider networks and high out-of-pocket costs for certain services. Beneficiaries can switch their coverage during Medicare's open enrollment period, but may face difficulty buying a Medigap supplement plan to cover what original Medicare doesn't.