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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.
  Thursday, 10/17/19 - https://DailyInsuranceReport.com 

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Not having long-term care insurance can be ‘the single biggest devastator’ of your financial plan
Michelle Fox / CNBC

No one likes to think about needing long-term care.

Yet the reality is that many people will at some point in their life.

About 60% of those turning 65 can expect to use some form of long-term care in their lives, according to the U.S. Health and Human Services Department. That may include a nursing home, assisted living or in-home care.

More than 8 million Americans have long-term care insurance, according to the American Association of Long-Term Care Insurance.

However, the cost of that insurance is rising.

Elder care is expensive. The annual national median cost of a private room in a nursing home was $100,375 in 2018, according to Genworth Financial. Assisted living ran about $48,000 a year and a home health aide was $50,336 a year.

CBS News poll: Most Americans favor a national health plan

With 12 Democratic candidates lined up for Tuesday's debate, Americans who tune in are likely to witness another spirited debate on health care — at least if previous debates can be any predictor. A majority of Americans agree with many of the Democratic presidential candidates in favoring some type of national health insurance plan, though most Americans still like the health insurance they currently have and do not want private insurance to be replaced by a public option.

Meanwhile, more Americans today approve than disapprove of the 2010 Affordable Care Act, though many — including most Democrats — now think the law didn't go far enough.

Fifty-six percent of Americans think providing access to affordable health care coverage for all Americans is the responsibility of the federal government, and two-thirds favor the creation of a national, government-administered health insurance plan similar to Medicare that would be available to all Americans.

While such a plan is supported by almost all Democrats and two-thirds of independents, most Republicans don't think it is the government's responsibility to provide access to affordable health care, and most oppose this type of plan.

But few who favor a "Medicare for All" plan want it to become the only form of health insurance available. Six in 10 would want it to compete with private health insurance as a choice for those who want it, rather than replace all private insurance. Most Democrats hold this view as well.

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Sherrod Brown: 'Terrible mistake' for Democratic nominee to support 'Medicare for All'

Sen. Sherrod Brown (D-Ohio) took a shot at progressive Democratic presidential candidates Tuesday, telling CNN that it would be a “terrible mistake” if the Democratic nominee supported “Medicare for All.”

Brown is not historically opposed to Medicare for All as an aspiration, but in the past he has said he would rather focus on what’s practical and can help people in the short term. He wants candidates to focus on improving ObamaCare, rather than promoting an idea that could turn off moderate voters.

60% of younger patients will switch healthcare providers over a poor digital experience: survey
by Heather Landi / FierceHealthcare

Patients who want the convenience of digital billing and payment options are willing to ditch their healthcare providers if they lag in modern technology, according to a recent survey.

Industries like banking and retail have set consumers' expectations for price transparency and the convenience of digital transactions.

Healthcare providers are not stacking up, according to a survey from Cedar, a patient payment and engagement platform.

Cedar worked with independent research firm Survata to survey 1,607 consumers who visited a doctor or hospital and paid a medical bill in the last 12 months.

Half of consumers say they are frustrated about their provider’s lack of adoption of digital administrative processes, such as online bill pay, access to insurance information, digital pre-appointment forms or mobile and email bill delivery. And 41% of patients said they would stop going to their healthcare provider over a poor digital experience. Notably, 1 in 5 patients already stopped or switched providers over a poor digital experience.

BREAKING: Judge Strikes Down Obamacare Protections For Trans Patients
The same judge issued a 2016 preliminary injunction against the health care rule.

For the second time, a federal judge in Texas has made it harder for transgender people to go to the doctor or to even receive basic care.

As The Hill was the first to report, Judge Reed O’Connor of the U.S. District Court for the Northern District of Texas ruled Tuesday that protections for trans patients under the Affordable Care Act (ACA) conflict with the federal Religious Freedom Restoration Act (RFRA), a 1993 law stating that the government cannot “substantially burden a person’s exercise of religion.”

Section 1557, the rule in question, prevented federally funded health centers from denying treatment to patients based on their gender identity.

In a 25-page ruling, O’Connor claimed the defendants in the case, the U.S. Department of Health and Human Services (HHS), “failed to address” concerns that the enforcement of Section 1557 would not compel medical professionals to violate their sincerely held religious beliefs.

Accordingly, O’Connor claimed the policy is unconstitutional and called for the trans-affirming protections to be nullified.

401k Flight to Fixed-Income Continues
A high level of trading activity is when the net daily movement exceeds two times the average daily net activity
by John Sullivan, Editor-In-Chief / 401k News

September was a slow month for 401k trading, with only one above-normal activity.

However, when investors made trades, they favored fixed-income funds, with over 90% of net trading dollars moving from equities into fixed income, and Q3 2019 marked the seventh consecutive quarter where 401k traders favored fixed-income funds over equities.

The Alight Solutions 401(k) Index found that on average for the month, 0.016% of 401k balances were traded daily, and 19 of 20 days favored fixed-income funds.

Trading inflows mainly went to stable value, bond and money market funds, while outflows were primarily from large U.S. equity, company stock, and mid-U.S. equity funds.

Chipotle's Employee Benefits Now Include Free College Tuition

Chipotle will help its employees pay for a online college degree as part of a new benefit the company announced Tuesday.

The fast-casual chain says it will pay 100% of tuition for eligible employees working toward an associate’s or bachelor’s degree. The program applies to business or technology degrees offered online at University of Arizona, Bellevue University, Brandman University, Southern New Hampshire University and Wilmington University.

Employees who work 15 hours a week or more are eligible for the program after 120 days of employment. Chipotle officials estimate up to 80,000 employees qualify.

Chipotle joins the likes of Starbucks, Walmart, Fiat Chrysler, and Amazon, which have all introduced broad employee free tuition programs in recent years.

Life Insurance Settlement Association Unveils Focus on Legislative Affairs and Announces New Board of Directors at 25th Annual Fall Life Settlement Conference

The Life Insurance Settlement Association (LISA), the oldest and largest trade association representing members of the life settlement industry, hosted its 25th Annual Fall Life Settlement & Compliance Conference this week in Nashville and rolled out an aggressive strategy for encouraging legislation that protects a consumer’s right to sell a life insurance policy.

“This year’s conference was well-attended by life settlement brokers, providers, institutional investors, actuaries, attorneys, bankers and other service providers”

LISA also announced the results of its Board of Directors election process. Serving on the board are six members who are continuing their terms, as well as two members who were elected to a three-year term and one member re-elected to a new three-year term. The current directors are as follows:

Alan Buerger, Coventry

Brian Casey, Locke Lord LLP (newly elected)

Chris Conway, ISC Services

John Dallas, Berkshire Settlements

Rob Haynie, Life Insurance Settlements

Stephen Kirkwood, Vida Capital (newly elected)

John McFarland, NorthStar Life Services

Steven Shapiro, Q Capital Strategies (re-elected to new term)

John Welcom, Welcome Funds

Established in 1994, the Life Insurance Settlement Association is the oldest and largest trade organization in the life settlement market. LISA’s membership consists of brokers, providers, financing entities, and service providers to the industry (law firms, medical underwriters, consultants, investment funds, actuarial firms, trustees and escrow agents). Members provide essential services to policy owners and industry participants. The life settlement industry is a dynamic marketplace representing the needs of life insurance policy owners. LISA is proud to serve as its leading voice. LISA members rank among the industry’s largest and most respected life settlement companies. For more information, please go to www.lisa.org.


Monday, 10/07/19 - Trump administration plans to delay any changes if the ACA loses in court

Tuesday, 10/15/19 -
Insurance brokerage steers future toward consulting

Wednesday, 10/16/19 - Handful of states mull getting off HealthCare.gov for their own exchanges

Thursday, 10/10/19 -
25% of Total Healthcare Spending Attributed to Waste, Study Finds

Friday, 10/11/19 - 
Papa Exploring Medicaid, Employee Benefit Opportunities Following $10M Funding Round

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Walt Bernard Podgurski - - Editor