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.

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‘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%.

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Insurance Company Drops $5 Million for University of Minnesota’s Anti-Racist Health Center

The University of Minnesota is mobilizing a $5 million donation to launch an antiracist health center.

According to a February 24 announcement from the University of Minnesota’s School of Public Health, the “Center for Antiracism Research for Health Equity” is dedicated to “addressing and uprooting structural racism’s impact on health and healthcare.”

The center will “develop education and training on structural racism and health inequities,” “foster authentic community engagement to address the root causes of racial health inequities and drive action,” “change the narrative about race and racism to one that does not hold up whiteness as the ideal standard for human beings,” and “serve as a trusted resource on issues related to racism and health equity.” 

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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.

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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.

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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…

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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…

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