Health Insurance Premiums Cutting into Employees’ Wages

Doctor and Patient

A new study reveals that rising health insurance premiums have been dramatically cutting into the pay that employees should be earning.

As Axios reports, the findings by the Journal of the American Medical Association (JAMA) Network Open determined that families with workplace health insurance may have lost as much as $125,000 in earnings over the last 30 years. This trend is especially impacting low-income employees.

Read More

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

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

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

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

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

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

Tim Ryan Distances Himself from Eliminating Private Health Insurance Despite Being Cosponsor of Bill That Does Just That

Rep. Tim Ryan (D-OH-13), now a candidate for the 2020 Democratic presidential nomination, said in a recent CNN interview that he doesn’t support the elimination of private health insurance. Ryan, however, is cosponsoring a bill that would eliminate most private insurance, which is one of the explicit goals of the…

Read More

States Have a New Opportunity to Lower Health Insurance Premiums and Expand Options

by Mary Fishpaw   The Trump administration is offering welcome relief to Americans struggling with high premiums under Obamacare premiums and a lack of insurance choices. The administration has taken a series of regulatory actions to do the following: Make short-term, limited duration policies widely available and give consumers the…

Read More

Ocasio-Cortez Likens Private Health Insurance to ‘Death Panels’

by Jason Hopkins   Democratic Rep.-elect Alexandria Ocasio-Cortez compared the private health insurance market to “death panels” during a back-and-forth exchange on Twitter Sunday. “Actually, we have for-profit ‘death panels’ now: they are companies + boards saying you’re on your own bc they won’t cover a critical procedure or medicine,” Ocasio-Cortez…

Read More