Live Insurance News

Work-Related Stress Compensation Reform in New York – Understanding S.B. 755

January 10, 2025January 10, 2025 Logan B.

The Stress Debate and Who Really Deserves Compensation? The New York State Senate is set to deliberate on S.B. 755, a bill proposing significant amendments to the workers’ compensation law passed in December 2024. This 2024 statute opened a pathway for employees experiencing “extraordinary work-related stress” to file compensation claims, broadening access to mental health support in the workplace. However, S.B. 755 seeks to narrow this scope, limiting eligibility for such claims to first responders only. If adopted, the bill would focus on professions such as police officers, firefighters, paramedics,…

Affordable Care Act Enrollment Breaks Records But Faces an Uncertain Political Future

January 10, 2025January 10, 2025 Live Insurance News

Record ACA Enrollment Under Biden Administration The Biden administration has announced a groundbreaking achievement in health care access, with nearly 24 million Americans enrolling in Affordable Care Act (ACA) Marketplace plans for 2025. This record-breaking figure nearly doubles the enrollment totals from four years ago, solidifying the ACA as a critical pillar of American health care. The success is attributed to expanded federal subsidies, streamlined enrollment processes, and heightened outreach efforts under President Joe Biden’s leadership. The Role of Enhanced Federal ACA Subsidies A significant driver behind the surge in…

How Aetna is Challenging Big Pharma in a Price-Fixing Battle

January 7, 2025January 7, 2025 Tate Ellison

Aetna Files Lawsuit Against Major Drugmakers Alleging Price-Fixing Conspiracy Aetna, a leading health insurer, has initiated a lawsuit against major pharmaceutical companies including Pfizer, Novartis, and Teva Pharmaceuticals, accusing them of conspiring to manipulate the market for generic drugs. The lawsuit alleges that the drugmakers colluded to artificially inflate prices, disadvantaging insurers, federal programs, and consumers. This legal action highlights growing concerns over anticompetitive practices in the pharmaceutical industry, with potential implications for healthcare costs nationwide. Details of the Lawsuit According to Aetna’s complaint, filed in Connecticut on December 31,…

Why New Insurance Rules Could Make Weight Loss Treatments Harder to Access

December 31, 2024December 30, 2024 Nordstrom

Independence Blue Cross Restricts Weight Loss Drug Coverage Starting January 1, 2025, Independence Blue Cross (IBX), the largest health insurer in southeastern Pennsylvania, will no longer cover certain weight loss medications, including GLP-1 receptor agonists like Wegovy and Ozempic, when prescribed solely for managing weight. The company will continue covering these medications for individuals with FDA-approved conditions such as Type 2 diabetes or cardiovascular disease. This change impacts both group and individual commercial plan holders, shifting the full cost of these drugs—ranging from $700 to $1,350 per month—to patients who…

New Illinois Insurance Laws for 2025 Set to Take Effect January 1

December 31, 2024December 30, 2024 Tate Ellison

Illinois Insurance Reform Bills Aim to Expand Coverage and Accessibility Illinois will see significant legislative changes starting January 1, 2025, as new laws spanning healthcare, employee rights, travel, and driver’s licenses come into play. In this article we’re going to look at Illinois healthcare changes. These reforms were designed to expand coverage, ensure fairness in the workplace, and bolster safety measures statewide. Here’s a comprehensive look at the new laws and their implications for Illinois residents. Key New Insurance Coverage Mandates Support for Hearing Assistance House Bill 2443 mandates new…

Medicare Agents Should Prepare For Very Busy And Confusing AEP

September 9, 2024September 9, 2024 Ben Jones

Agents preparing for Medicares Annual Enrollment Period

Challenges Loom for Agents During Medicare’s Annual Enrollment Period Amid Major Plan Withdrawals Medicare’s Annual Enrollment Period (AEP) is always a busy time for Medicare agents. “This year will likely be worse,” predicts Jesse Slome, director of the American Association for Medicare Supplement Insurance. “Several things are all happening at once that will impact seniors,” Slome shares. “A number of major Medicare Advantage plan providers have already announced plans to cease offering coverage. Humana, for example, said this could impact 500,000 plan participants.” Several other major insurers, for example Aetna,…

The High Cost of Health: Who Gets Weight Loss Prescriptions?

August 8, 2024August 8, 2024 Angela Linders

Disparities in Weight Loss Prescriptions The disparity in access to medications like Wegovy, Rybelsus, and Ozempic highlights a significant issue within the U.S. healthcare system. Despite the increasing medical applications of these drugs, which include managing diabetes and potentially preventing heart disease and stroke, many insurers remain reluctant to cover them for weight loss. Medicare, for example, is legally barred from covering weight-loss drugs unless the patient presents serious health risks. This limitation leaves over two-fifths of American adults who are obese but otherwise healthy without coverage options. Federal spending…