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Robert Slayton
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Helping CFOs reduce their medical spend, increase certainty, and increase their EBITA. Leg Wiz, Dad, Barefoot Runner
Helping CFOs reduce their medical spend, increase certainty, and increase their EBITA. Leg Wiz, Dad, Barefoot Runner

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The following article from Axios (using data that the CBO just released) states that the ACA helped the poorest 40% of the US population. Remember, however, that this was for 2014 only. I'd love to see how it stacks up for 2017 (last year). My guess is that the fourth quintile and higher have been dramatically harmed by the ACA as rates have skyrocketed.

https://www.axios.com/newsletters/axios-vitals-285166c0-bc37-40b8-a72a-561b8d3245dc.html?chunk=3#story3
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As nobody responded to my last post about ANYONE reading these posts, I guess I'll take a hiatus from posting on G+.

If someone has better insight, please let me know.

Thanks,

Robert
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Health Insurance costs so much because #healthcare costs so much.



The following study from the Journal of the American Medical Association #JAMA shows that our outcomes are equal to or worse than 10 comparable countries, but our spending is much higher. Here are some high level conclusions:



1. Administrative costs are approximately 8% in the US compared to 1% - 3% abroad.

2. Pharmaceutal costs are $1443 in the US compared to $466 - $939 in other countries.

3. Salaries of physicians and nurses are higher. Once example given was a general physician's salary in the US being $218,173 as compared to $86,607 - $154,126 abroad.



Here's a link to the article: https://jamanetwork.com/journals/jama/fullarticle/2674671?
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BTW, does anyone actually read these posts? I feel as if I'm just posting to a place that the social media software automatically posts to, but nobody actually ever reads. I'm wondering if I should just stop posting here.

Thoughts?
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Remember when I said that Amazon's attempt to be disruptive in health insurance/care world was all a bunch of hooey? Here's another nail in that coffin from Axios.com (see the last line).

The Amazon/Berkshire Hathaway/JPMorgan project needs a CEO

Goodness gracious, does it also need a shorter name. Anyway...
Executives from Amazon, Berkshire Hathaway and JPMorgan Chase are trying to find a CEO for their new (and still poorly defined) health care entity. According to CNBC's Christina Farr, so far the companies have reached out to three potential candidates — two of whom aren't interested.

The contenders:
• Andy Slavitt, who ran CMS under the Obama administration and is now a health care investor/advocate. "This is interesting and filled with a lot of promise, but my passion is bringing health care to every American and closing the gaps for vulnerable communities & families," he tweeted last night.

• Todd Park, who worked on the HealthCare.gov rescue effort as the U.S. chief technology officer and is a cofounder of Castlight Health. "While I wish this new endeavor the very best, I am not a candidate to lead it," Park told CNBC.

• Gary Loveman, a former Aetna executive. He declined to comment to CNBC.

Key CNBC quote: "The three companies may disintermediate the middlemen in the drug supply chain, such as the pharmacy benefits managers and drug distributors, or bring in new technology like telemedicine to improve access to primary care for workers across the country."

But that's not a lot different from efforts that are already well under way — and being led by legacy players, not new "disruptive" entities.
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ALERT: Cigna signs deal to acquire Express Scripts

They follow in the footsteps of other insurance companies who are trying to manage prescription costs. Here's a blurb from the announcement:

BLOOMFIELD, Conn. & ST. LOUIS, 08 March, 2018 - Cigna Corporation (NYSE: CI) and Express Scripts Holding Company (NASDAQ: ESRX) today announced that they have entered into a definitive agreement whereby Cigna will acquire Express Scripts in a cash and stock transaction valued at approximately $67 billion, including Cigna's assumption of approximately $15 billion in Express Scripts debt. The merger consideration will consist of $48.75 in cash and 0.2434 shares of stock of the combined company per Express Scripts share. The transaction was approved by the board of directors of each company.

https://www.cigna.com/newsroom/news-releases/2018/cigna-to-acquire-express-scripts-for-67-billion
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Contribute to an HSA? This is important. The Tax Reform Law changed the family contribution limit for 2018 (this year).

https://nahucomplianceblog.wordpress.com/2018/03/06/tax-reform-changes-hsa-limit/?
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Here are two articles.

The first is a teacher strike in West Virginia due to the rising cost of health insurance.

The second article is the erosion of worker salaries because their increases are being eaten up by higher health insurance costs.

Neither has to happen, but it takes an enlighted CFO and HR to change their thinking. There are strategies that can decrease your medical spend and raise the company's EBITA. There are strategies that give employees a BETTER experience with their healthcare, but other brokers aren't doing it.

There is a new breed of Broker Advisor that doesn't take money from an insurance company, who's objectives are to reduce the medical spend, increase certainty, and even raise the company's earnings. A portion of their fee is ONLY earned when they accomplish these goals.

https://www.axios.com/west-virginia-teachers-health-care-cuts-1519935280-8299cb0a-a882-450d-929e-dc293dd631c3.html?

https://www.axios.com/the-erosion-of-worker-compensation-1516915779-5de48fc9-bfe8-4577-88e0-4e9b46591af3.html
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This follows up my prior post. A lot of talking about drug prices, but no action. If you are a larger employer (100+), you can actually do something about these higher prices. If you want to find out how, schedule a 15 minute conv using the link off my website.



https://www.goodrx.com/blog/are-drugs-getting-more-expensive/?
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