Tag: health insurance

Health Insurance Costs Expected to Spike at Highest Rate in over a Decade

Michigan Star Staff

Employer health insurance costs are expected to increase significantly in 2024, affecting costs for both workers and businesses as hospital operating costs rise, according to data reported by The Wall Street Journal.

Next year, the costs for health insurance coverage from employers are expected to increase by around 6.5%, which could be the biggest increase in more than a decade, according to survey data acquired by the WSJ. Driving the increase in health insurance costs are inflated labor costs for hospitals and a large demand for expensive new diabetes and obesity drugs, which are being passed down to insurance companies in new contracts with the hospitals.

Read More

‘Effectively Overcharges Seniors’: AARP Rakes in Record Profits Selling Brand Royalties While Overcharging Members

Michigan Star Staff
old man and woman walking outside together

The American Association of Retired Persons (AARP) raked in massive profits in 2020, mostly from royalties on branded health insurance policies, not memberships, according to company financial documents.

AARP’s 2020 Form 990 shows that the organization reported $1.6 billion in revenue, with roughly $1 billion, or over 60%, from royalty revenue. Meanwhile, membership dues contributed under 20% of total revenue.

AARP’s 2019 Form 990 reported $1.72 billion in revenue, with royalties making up nearly 56% of revenue while membership dues contributed just 17%.

Read More

Michigan Medical Group Calls on Congress to Increase Access to Precision Medicine, Targeted Therapeutics to Combat Autoimmune Disorders

Bradley Vasoli

In a recent letter, the Michigan Rheumatism Society and similar organizations from elsewhere in the U.S. have urged members of Congress to prioritize the development of predictive drug-response testing and other elements of precision medicine.

The model of precision medicine, also referred to as personalized care, calls for collecting and assessing information specific to a patient’s condition, including genetics, health history and living environment. Treatments and preventive measures prescribed after such analysis can then be better suited toward each individual. Heretofore, healthcare prescription has usually followed a one-size-fits-all paradigm that doesn’t work best for every patient.

Read More

Report: Millions Lose Health Insurance Because of COVID-19 Shutdowns

Michigan Star Staff

More than 5 million people lost their health insurance coverage over the past several months because of COVID-19 restrictions as costs for lifesaving medications and treatments for cancer also skyrocketed.

A new study by Families USA found that more than 5.4 million people who lost their jobs are uninsured, compared to 3.9 million who were in a similar situation during the Great Recession.

Read More

Insurer Centene Plans 3,200 Jobs at New N.C. Regional Hub

The Associated Press

Government health insurance provider Centene Corp. said on Wednesday it will build an East Coast campus in Charlotte, North Carolina, developing a $1 billion construction project that’s expected to create more than 3,200 new jobs by 2032.

Gov. Roy Cooper described the expansion as the state’s largest single jobs announcement by number in nearly two decades.

Read More