Words fail:
"A veteran committed suicide by setting himself on fire in front of a New Jersey VA clinic after staff at the clinic repeatedly failed to ensure he received adequate mental health care"
Charles Ingram, a 51 year old Gulf War vet, was actually cleared for treatment at a non-VA facility, but the bureauweenies in charge failed to follow through.
But sure, let's go all-in on state-run health "care."
[Hat Tip: FoIB NARNfan]
from InsureBlog http://ift.tt/2zEOYu3
Wednesday, 15 November 2017
Tuesday, 14 November 2017
Sad news
We've just learned of the passing of Dr Uwe Reinhardt earlier today. His was a voice of reason and thoughtfulness, and he had a unique talent for making complex health care policy understandable.
We first noted the great work of Dr Uwe Reinhardt in this post by co-blogger Bob back in 2009:
"The insurance industry is congenitally weak in bargaining with supply side of the American health sector,” explained Princeton University health economist Uwe Reinhardt on a recent NPR Money Planet segment. Reinhardt believes that insurers largely dance to the fiscal tune whistled by hospitals and physicians."
A little over a year later, co-blogger Mike quoted another great example of Dr Reinhardt's insight:
"Thus, after blushing over miserly fee updates, taxpayers might go on to ask physicians why an average annual compound increase of 5.4 percent in spending per Medicare beneficiary was not enough to give the nation’s elderly good medical care."
Ouch.
He will be missed.
We first noted the great work of Dr Uwe Reinhardt in this post by co-blogger Bob back in 2009:
"The insurance industry is congenitally weak in bargaining with supply side of the American health sector,” explained Princeton University health economist Uwe Reinhardt on a recent NPR Money Planet segment. Reinhardt believes that insurers largely dance to the fiscal tune whistled by hospitals and physicians."
A little over a year later, co-blogger Mike quoted another great example of Dr Reinhardt's insight:
"Thus, after blushing over miserly fee updates, taxpayers might go on to ask physicians why an average annual compound increase of 5.4 percent in spending per Medicare beneficiary was not enough to give the nation’s elderly good medical care."
Ouch.
He will be missed.
from InsureBlog http://ift.tt/2zDgtnv
Monday, 13 November 2017
From the P&C Files: Foreign General Liability
Regular readers know our friends at Global Underwriters for their wide array of travel medical options, but they also work the other side of the insurance fence, as well. Since a lot of their business comes from employers with substantial international exposure, GU has an interesting product called Foreign General Liability (FGL) coverage. I'll let GU's Peter Schulteis explain:
"Today, thriving companies aren't just operating globally. They're sourcing, producing, recruiting, and genuinely "thinking" in global terms. However, most domestic General liability policies only cover lawsuits brought within US borders. This leaves US companies, schools, churches, non-profits, etc. and their international operations without a legal or financial safety net if taken to court abroad."
Okay, so what is Foreign General Liability coverage?
"FGL primarily consists of 3 main benefits:
* International Commercial General Liability: The first line of defense against costly legal actions arising from events occurring outside US borders.
Typical Coverages: Bodily Injury and Property Damage, Employee Benefits Liability, Personal and Advertising Injury Liability, and Medical Payments.
* Employer's Responsibility/Worker's Compensation: Outside the US, nothing quite compares to our nation's own worker's compensation system for comprehensive coverage [ed: as we've seen before].
Typical Coverages: Foreign Voluntary Worker's Compensation (Statutory worker's comp benefits for US and Non-US employee's), Employer's Liability - Bodily injury coverage to employee's for accident or endemic illness contracted outside the US.
* Foreign Auto Liability: Each country and jurisdiction around the world has its own rules and regulations concerning automobile liability - from who would be at fault if an accident were to occur to how an automobile liability claim should be handled.
Typical Coverages: Applies to any auto of the insured, including owned, hired, and non-owned vehicles, Auto Bodily Injury/Property Damage Liability."
Nice. What are typical coverage amounts?
"FGL limits are typically $1 - $2 Million, with the possibility of increasing benefit limits to $5 Million, if desired."
Thanks, Peter!
If you (or someone you know) would like additional details (or even a quote), make sure to stop by Global Underwriters' site.
"Today, thriving companies aren't just operating globally. They're sourcing, producing, recruiting, and genuinely "thinking" in global terms. However, most domestic General liability policies only cover lawsuits brought within US borders. This leaves US companies, schools, churches, non-profits, etc. and their international operations without a legal or financial safety net if taken to court abroad."
Okay, so what is Foreign General Liability coverage?
"FGL primarily consists of 3 main benefits:
* International Commercial General Liability: The first line of defense against costly legal actions arising from events occurring outside US borders.
Typical Coverages: Bodily Injury and Property Damage, Employee Benefits Liability, Personal and Advertising Injury Liability, and Medical Payments.
* Employer's Responsibility/Worker's Compensation: Outside the US, nothing quite compares to our nation's own worker's compensation system for comprehensive coverage [ed: as we've seen before].
Typical Coverages: Foreign Voluntary Worker's Compensation (Statutory worker's comp benefits for US and Non-US employee's), Employer's Liability - Bodily injury coverage to employee's for accident or endemic illness contracted outside the US.
* Foreign Auto Liability: Each country and jurisdiction around the world has its own rules and regulations concerning automobile liability - from who would be at fault if an accident were to occur to how an automobile liability claim should be handled.
Typical Coverages: Applies to any auto of the insured, including owned, hired, and non-owned vehicles, Auto Bodily Injury/Property Damage Liability."
Nice. What are typical coverage amounts?
"FGL limits are typically $1 - $2 Million, with the possibility of increasing benefit limits to $5 Million, if desired."
Thanks, Peter!
If you (or someone you know) would like additional details (or even a quote), make sure to stop by Global Underwriters' site.
from InsureBlog http://ift.tt/2AFgzbX
Friday, 10 November 2017
It's a Holly Jolly Friday LinkFest
(All links courtesy FoIB Holly R)
■ Britain's Much Vaunted National Health System© continues to prove that gummint-run health "care" #Fails at reining in costs:
"[T]hree highly influential health think-tanks - the King's Fund, the Nuffield Trust and the Health Foundation - published a joint report calling for an extra £4bn to be given to health next year."
Heh.
■ "Every Hour, Prostate Cancer Kills 45 Men. This Foundation Has Raised $769 Million to Fight it"
And yet, unlike mammograms, prostate exams aren't considered Essential Health Benefits (so they aren't first dollar).
Men's Health Matters (but not to ACA proponents).
■ And now for some good news:
"In world first, Israeli hospital employs MRI designed for infants"
MRI's have become almost as ubiquitous as X-Ray machines and EKG's, but one of the challenges is that patients need to stay very still while being scanned, which is a problem when dealing with infants. The generally accepted solution seems to have been anesthesia, but that poses its own set of risks in ones so small and vulnerable. This device seems to have solved the problem.
Yasher koach (that's Hebrew for "Kudos")!
■ Britain's Much Vaunted National Health System© continues to prove that gummint-run health "care" #Fails at reining in costs:
"[T]hree highly influential health think-tanks - the King's Fund, the Nuffield Trust and the Health Foundation - published a joint report calling for an extra £4bn to be given to health next year."
Heh.
■ "Every Hour, Prostate Cancer Kills 45 Men. This Foundation Has Raised $769 Million to Fight it"
And yet, unlike mammograms, prostate exams aren't considered Essential Health Benefits (so they aren't first dollar).
Men's Health Matters (but not to ACA proponents).
■ And now for some good news:
"In world first, Israeli hospital employs MRI designed for infants"
MRI's have become almost as ubiquitous as X-Ray machines and EKG's, but one of the challenges is that patients need to stay very still while being scanned, which is a problem when dealing with infants. The generally accepted solution seems to have been anesthesia, but that poses its own set of risks in ones so small and vulnerable. This device seems to have solved the problem.
Yasher koach (that's Hebrew for "Kudos")!
from InsureBlog http://ift.tt/2yOiRZ4
Thursday, 9 November 2017
The ACA is Working - and Better than Expected!
Given that the explicit goal has always been single-payer:
from InsureBlog http://ift.tt/2iIBumC
[click to embiggen]
"Your current monthly premium is $822.48. Starting in January, your monthly premium will be $3,276.47"
Hunh. Funny way to spell 3000% decrease.
Weird.
[Hat Tip: FoIB Holly R]
Hunh. Funny way to spell 3000% decrease.
Weird.
[Hat Tip: FoIB Holly R]
from InsureBlog http://ift.tt/2iIBumC
Health Wonk Review - Notable Quotables edition
Our good friend (and favorite health care economist) Jason Shafrin hosts this week's fun, uniquely designed roundup of health care fun and policy.
from InsureBlog http://ift.tt/2ylN0L3
Wednesday, 8 November 2017
LifeAid: An Accelerated Benefits story
Back in the 80's and early 90's, when the AIDS "epidemic" was just taking off, a lot of folks especially singles and the elderly, began looking for ways to leverage their life insurance policies. For those with no dependents, keeping a policy in force made little sense, and by selling their plans they could raise quick cash to pay for alternative treatments, or even just take a cruise.
Unfortunately, this lead to a lot of questionable practices, and even more questionable tax implications. And so, as part of HIPAA, a new word entered the popular lexicon: viatical. Basically, one can sell one's plan to a 3rd party with little (or no) tax consequence.
Naturally, insurance companies weren't too keen on any of this, but the cat was already out of the metaphorical bag. Eventually, the industry settled on the old "if you can't beat 'em, join 'em" strategy, and thus was born the Accelerated Benefit Rider. These enable the policyholder to "access" the face amount as a living benefit. Naturally, there are some caveats and potential tax implications, but it's a reasonably effective answer to the viatical issue.
Illinois Mutual has provided a helpful primer ion how they work:
Unfortunately, this lead to a lot of questionable practices, and even more questionable tax implications. And so, as part of HIPAA, a new word entered the popular lexicon: viatical. Basically, one can sell one's plan to a 3rd party with little (or no) tax consequence.
Naturally, insurance companies weren't too keen on any of this, but the cat was already out of the metaphorical bag. Eventually, the industry settled on the old "if you can't beat 'em, join 'em" strategy, and thus was born the Accelerated Benefit Rider. These enable the policyholder to "access" the face amount as a living benefit. Naturally, there are some caveats and potential tax implications, but it's a reasonably effective answer to the viatical issue.
Illinois Mutual has provided a helpful primer ion how they work:
from InsureBlog http://ift.tt/2Amhrl3
Subscribe to:
Posts (Atom)