Category: Public Insurance

Another Way to Lower Health Insurance Costs

Posted on by John C. Goodman

This is Michael Cannon (gated):

In 2014 … the Obama administration exempted health insurance in American Samoa, Guam, the Northern Marianas Islands, Puerto Rico and the U.S. Virgin Islands from those regulations. Subsequent administrations have preserved this exemption.

If [Florida] lawmakers pass a law recognizing insurance licenses from U.S. territories, Florida consumers and employers could purchase individual or group plans from insurers in Puerto Rico or any other U.S. territory.

Many established health insurers already do business in the territories, including Aetna, UnitedHealthcare, Humana and BlueCross BlueShield — each of which already has provider networks in Florida.

Opening Florida’s market would improve the quality and cost of health insurance. Floridians could save 50% or more on their plans.

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Insulin

Posted on by John C. Goodman

Before a Trump executive order, employers could not provide free or subsidized insulin to their diabetic employees without sacrificing the employees’ right to have a Health Savings Account. This meant that employees had to spend their entire health insurance deductible out of pocket before any employer cost sharing took effect. The Trump administration’s change leaves employers and employees free to engage in the kind of cost-sharing arrangements that make economic and health care sense.

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Managed Competition Exposed

Posted on by John C. Goodman

You can find competing private health insurance plans with community rated premiums and government sponsored risk adjustment in Belgium, Germany, Israel, the Netherlands and Switzerland – where participation is mandatory. Ireland and Australia have voluntary enrollment, as does Medicare Advantage and the (Obamacare) marketplaces in the United States.

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