Insurance Archives - DR News - News, Retirement, Finance

Insurance Loss Linked to Increase in Crime Rates: Study

Nashville, Tennessee – A recent working paper by four scholars suggests that access to health insurance may have a significant impact on reducing crime rates in the United States. The study examined the effects of one of the largest Medicaid disenrollments in U.S. history, which occurred in Tennessee in 2005, leading to approximately 190,000 nonelderly and nondisabled adults without dependents losing their coverage at that time. According to the researchers, the loss of Medicaid coverage …

Medicaid Disenrollment Crisis: Millions of Americans Struggle to Regain Health Insurance

Jacksonville, Florida – A 2-year-old girl in Jacksonville, Florida, diagnosed with cystic fibrosis faced a health insurance crisis after losing her Medicaid coverage during the pandemic. The toddler’s mother, along with others, filed a lawsuit highlighting the urgent need for insurance to cover necessary medication and doctor visits. This story reflects a broader issue affecting communities nationwide as the Medicaid expansion, prompted by the pandemic, comes to an end. Many Americans who lost Medicaid coverage …

Healthcare Costs Burden 2.2 Million Ohioans Despite Increase in Insurance Coverage

Columbus, Ohio – Over 2 million Ohio residents struggle to access affordable healthcare, with many families spending a significant portion of their household income on out-of-pocket medical costs. Despite an improvement in insurance coverage over the past decade, a report by the nonpartisan Health Policy Institute of Ohio revealed that 1 in 5 Ohioans faced financial burdens due to healthcare expenses in 2021. The study compared Ohio’s health outcomes and healthcare spending to other states, …

Healthcare Cyberattacks: Protecting Facilities with the Right Insurance Partner

Atlanta, Georgia – Health care facilities in the United States face an increasing risk of cyberattacks, with hackers targeting vulnerable systems for financial gain. The need for enhanced cybersecurity measures and comprehensive insurance coverage is essential in protecting hospitals and other healthcare organizations from malicious cyber threats. Cybercriminals view health care networks as lucrative targets due to the vast amount of sensitive information they store, making them susceptible to ransomware attacks. Stephanie Snyder Frenier, SVP …

Insurance Legislation in Missouri Raises Concerns Over Consumer Protections and Coverage adequacy

Jefferson City, Missouri – A controversial legislation allowing the Missouri Farm Bureau to sell health insurance plans that bypass certain federal regulations is causing concern among critics who fear it may leave consumers vulnerable without adequate protections or coverage. The bill, already approved by the Missouri House and awaiting a Senate committee hearing, permits the Farm Bureau to offer health plans that do not comply with the rules outlined in the Affordable Care Act, commonly …

Healthcare Clash: Trump vs. Biden on Insurance Coverage, COVID Response, and Drug Prices

Washington, D.C. – The stark contrast between former President Donald Trump and current President Joe Biden on health care issues highlights a key difference between the two major presidential candidates. Over the past four years, Biden has championed the Democratic Party’s longstanding goal of ensuring universal health insurance coverage through government intervention. In contrast, Trump pursued a more traditional GOP approach aimed at dismantling such coverage, ultimately falling short in his efforts. The response to …

Mary Lou Retton’s Lacking Health Insurance Draws Questions During Hospitalization

Hoffman Estates, IL – Former Olympic Gold Medalist in Women’s Gymnastics, Mary Lou Retton, recently discussed her month-long hospitalization due to a rare and potentially life-threatening form of pneumonia on the “Today” show. During her appearance, Retton revealed details about her hospital ordeal, including the moment when she nearly required life support. However, Retton was not questioned by co-host Hoda Kotb about certain factors, such as why she did not have health insurance at the …

Biden Administration Targets Short-Term Health Insurance Plans in Effort to Protect Consumers

Washington D.C. – The Biden administration recently announced plans to revise short-term health insurance policies, a reversal of a key aspect of former President Donald Trump’s healthcare agenda. Under the newly finalized rule, short-term health insurance plans will now be limited to three months with an option for a one-month renewal. These plans, known for their lower monthly premiums but limited coverage, previously allowed consumers to remain on them for up to three years. Critics …

Insurance Dispute Between ProMedica and Cigna Leaves Ohio Patients Uncertain

Toledo, Ohio – The contract between ProMedica, a healthcare provider in northwest Ohio, and Cigna Insurance came to an official end on Monday, April 1, 2024. This termination has left many Ohio patients with Cigna commercial insurance concerned about potentially having to cover 100% of billed charges for services provided by ProMedica out-of-network facilities and PPG providers. Despite the contract coming to an end, both companies are still in discussions to find a resolution, which …

Insurance Stocks Take a Hit as Medicare Increases Rates by 3.7%

Orlando, FL – The Centers for Medicare and Medicaid Services (CMS) recently approved a 3.7% payment rate increase for Medicare Advantage plans for the 2025 calendar year. This decision had a significant impact on leading health insurance managed care stocks, causing a sharp decline in stock prices for companies like Humana, CVS Health, and UnitedHealth Group. Investors were surprised by the modest 3.7% rate increase, as many had anticipated a larger hike to help offset …