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Walt Bernard Podgurski,  Editor,  440-773-1108, 

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Editorial Mission Statement: The goal of this publication is to provide readers a broad selection of what is being written about the insurance industry and related issues. Some articles may have a “tilt” towards a particular perspective one way or another. Inclusion in this newsletter is not an endorsement of any views or content; but report the various and differing views appearing in media.
  Monday, 07/22/19 - https://DailyInsuranceReport.com 

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The "Daily Insurance Report" publishes the life insurance, health insurance, and employee benefits news that matters.

Federal judge upholds Trump's expansion of non-ObamaCare plans

A federal judge on Friday upheld the Trump administration's expansion of health insurance plans that don't meet ObamaCare's coverage requirements.

U.S. District Judge Richard Leon in Washington ruled against the insurance companies that sued the administration in an attempt to block the rules.

"Not only is any potential negative impact from the 2018 rule minimal, but its benefits are undeniable," Leon wrote about the regulations.

The plans aims to "minimize the harm and expense" for individuals who might otherwise decide not to purchase insurance because of high premiums, Leon added.

The Trump administration issued a regulation last year allowing short-term health care plans to last up to 12 months instead of three. These plans were originally intended as an option for individuals who need to bridge a gap in health insurance coverage.

Elizabeth Warren blasts private insurance business model

The four Democratic presidential candidates who spoke at a forum in Sioux City Friday agree the nation’s health care system needs reform, but they differ on how aggressive the effort should be.

Massachusetts Senator Elizabeth Warren said “Medicare for All” will provide maximum coverage at a minimum price.

“It’s about health care from our babies to our seniors,” Warren said, “so that no one has to go bankrupt over a medical problem.”

Warren is calling for the elimination of private insurance.

“Look at the basic business model,” Warren said. “It’s charge the maximum amount you can in premiums and pay out the least that you can in health care coverage and last year, following exactly that model, insurance companies sucked $23 billion in profits out of the system and that’s before you even count the tens of millions that they paid the corporate CEOs, how much people had to spend on time, on paperwork and hours fighting with insurance companies.”

The BS About Medicare-For-All Has To Stop – OpEd
By Dave Lindorff / eurasia review

Here’s the real story. As things stand presently, health care costs in the US account for 18% of total US Gross Domestic Product. That is to say, 18 % of all economic transactions in the US, government and private sector, go for medical care. That’s 18% of $21.1trillion in 1019, or about $3.7 trillion. In constant dollars over the course of the next decade that would be $3.7 trillion.

That figure includes the cost of Medicare for the elderly and disabled — a program that is already funded by taxes paid by individuals and their employers (the federal budget for Medicaid, financed by those taxes, is about $600 billion this year). Add to that the amount for Medicaid, which provides health benefits for one-in-five Americans unable to obtain private insurance and which is funded by the federal government and the states (also about $600 billion this year), and taxpayers are already funding some $1.2 trillion of the US health care bill through taxation. Then add in the cost of private insurance, paid by both employers and employees, or for those working at stingier employers, or for themselves, through insurance offered under the ironically named Affordable Care Act (Obamacare), which is about $2.2 trillion, and the cost of medical care paid out-of-pocket because it’s not covered by increasingly loophole-plagued insurance plans (another $400 billion, and Americans and their employers are already paying a total of $3.6 trillion per year for health care. But this haphazard free-marked/government-funded tacked-together chaos that we call American-style healthcare still leaves 30 million citizens uninsured!

Views 5 ways companies are innovating in healthcare
By Jami Doucette

Walmart senior leadership regularly hears from their customers that they’re concerned about health, the cost of care and access to quality healthcare services. The organization believes it’s their responsibility to do more.

From large employers like Walmart, down to those with smaller employee populations, addressing a fragmented and expensive healthcare system is a top priority.

Premise Health recently hosted 132 clients from 80 large employers in Nashville to connect them with their peers, share success stories and strategies, and discuss the state of the evolving healthcare industry. Attendees included HR leaders focused on benefits and total rewards; employee health, wellness and safety; and talent and retention. Here are five takeaways on the state of healthcare from some of the world’s largest employers.

Employers are done with fee-for-service
Transparency and accountability matter
In data we trust?
Engagement is critical
Integration is the key ingredient

TriNet adds new compensation, benefits analytics tool
By Caroline Hroncich / ebn

TriNet has updated a new analytics tool to help small and medium-sized businesses better assess their employees benefits, compensation and retention.

The new tool, Workforce Analytics, is bundled into the TriNet platform allows HR managers to create reports and review employee data to get a more comprehensive view of their workforce. Employers can also analyze data on costs spent on payroll, benefits, and workforce distribution between salaried and hourly workers.

For example, employers can view data on average employee tenure, which can be helpful in strategic planning and allocation of resources or benefit election trends. The tool also provides insight into which benefits packages are most adopted by their employees, says Dilshad Simons, senior vice president of products at TriNet.

See also: Employers seek greater insights from mobile data analytics

“Small and medium-size business owners are confronted with a variety of barriers to HR data visibility, including a general lack of reporting and analytics technology,” she says. “Due to these challenges, SMBs often struggle with identifying data trends, much less translating them into actionable insights.”

How BlackRock and Microsoft are attacking the retirement savings gap
By Tobias Salinger / Financial Planning

BlackRock and Microsoft’s 401(k) retirement tool will include guaranteed income planning and rewards for saving, according to the head of the asset manager’s retirement group.

The technology giant and the asset manager overseeing 15 million Americans’ 401(k) portfolios are developing an app and desktop tool aimed at narrowing the widening gap between what workers will need in retirement and how much they’re saving, said Anne Ackerley in a session at SourceMedia’s In|Vest conference.

With so many factors unknowable, planning for retirement is perilous

Despite an environment of, “Hey, go figure it out,” there are ways advisors can properly prepare clients, In|Vest attendees are told.

That gap expands by $3 trillion each year, Ackerley noted, for reasons relating to culture, politics and financial literacy. Social media posts celebrate spending money rather than saving it, and millions of people have no access to a 401(k), she said.


Monday, 07/15/19 - Winning the 'Obamacare' suit would be a disaster for Republicans

Tuesday, 07/16/19 - Five ways life insurance can help you in retirement

Wednesday, 07/17/19 - Biden proposes massive new Obamacare subsidies, public option in health care plan

Thursday, 07/18/19 - Daily on Healthcare: House tees up vote to repeal Obamacare’s ‘Cadillac Tax’

Friday, 07-19-19 - Today, the U.S. Department of the Treasury gave health insurers more flexibility to cover the cost of certain medications and tests for people with common chronic conditions who are enrolled in many high-deductible health plans.

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Walt Bernard Podgurski - - Editor