INTERVIEW ON THE PRICE OF BUSINESS SHOW, MEDIA PARTNER OF THIS SITE.
* Continue and expand on Obamacare.
* Currently 40% of Americans have employer-sponsored insurance, 8% are in private plans, 18% on medicare and 19% on Medicaid, 5% on military/Tricare, and 10% uninsured. So essentially, adding up everything “non-private”, 52% are already on government-paid healthcare.
* Biden wants to expand Medicare and Medicaid – and increase subsidies for ACA / exchange plans to entice more of the uninsured population to buy a marketplace plan.
* Prescription reform – no administration has ever been able to do it – but cap prices and push medicare reimbursement rates on all Rx. We can hold our breath!Insurance premiums expected to take a big hike next year:
* COVID is “over”, but now everyone is making up for lost time. Huge increase in utilization, elective surgeries, and all healthcare in general – causing a predictable surge in how insurers are estimating premiums for next year.
* It was in poor form and bad taste last year to increase rates – last year was about subsidizing anyone that needed COVID-related care and overall fear of how we would deal with the pandemic. That is gone now – and insurers are more than comfortable hiking prices – I am already seeing it in my renewal projections across clients.
The Price of Business show notes, “Bethany is the Founder and CEO of Web Benefits Design. Bethany has over 22 years of industry experience in the healthcare, benefits, and information technology industries. Bethany’s multiple responsibilities include product development, marketing, sales, account management, compliance, human resources, and operations. Bethany co-founded Web Benefits Design and has led its growth into one of the nation’s leaders in benefits administration technology and full-service outsourcing solutions. Bethany graduated from Florida State University with a Risk Management Insurance and Actuarial Science degree.”
The Price of Business is one of the longest-running shows of its kind in the country and is in markets coast to coast. The Host, Kevin Price, is a multi-award-winning author, broadcast journalist, and syndicated columnist. He is Editor at Large for this site. Learn more about the show and its digital partners at www.PriceofBusiness.com.
LISTEN TO THE INTERVIEW IN ITS ENTIRETY HERE