New Health Insurance Company Hopes To Reform Healthcare
Oscar is a start-up health insurance company founded by three friends that aims to compete against traditional health insurance companies. It plans to use technology, telemedicine, and transparency. The creators want Oscar to be an intimate part of its clientele’s health care experience.
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Read more from Forbes.com:
In five weeks from now, the Patient Protection and Affordable Care Act mandates the opening of health insurance exchanges around the country. At that time New Yorkers will be introduced to an innovative way of thinking about health care: Oscar. Three friends, and technology entrepreneurs, teamed up to do something that has been inconceivable to date—create a start-up health insurance company to take on conventional health insurers on the NY exchange. Oscar co-founders, Josh Kushner, Kevin Nazemi and Mario Schlosser, plan to change the health insurance industry through technological interfaces, telemedicine and real transparency. Their goal is to redesign insurance to be geared toward the user experience, to make patients seek out their insurer before their doctor.
Americans do not usually think of health insurance as an intimate part of the care process. When sick, individuals do not call their insurance company for care or support. The health insurance industry is considered confusing, at best. Continue reading…
Affordable Care Act To Insure More Americans
Under the Affordable Care Act, people who can’t afford health insurance are offered exchanges in order to be able to pay for their health care. So far, 19 states have estimated that 8.5 million Americans will be insured. The federal government estimated 7 million in 2010.
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Read more from USA Today:
Estimates from 19 states operating health insurance exchanges to help the uninsured find coverage show that at least 8.5 million will use the exchanges to buy insurance, a USA TODAY survey shows. That would far outstrip the federal government’s estimate of 7 million new customers for all 50 states under the 2010 health care law.
USA TODAY contacted the 50 states, and 19 had estimates for how many of their uninsured residents they expect will buy through the exchanges. About 48 million “For the most part, that’s a very good thing,” said Paul Ginsburg, an economist at the University of Pennsylvania’s Wharton School who supported the requirement to buy health insurance while serving in the George H.W. Bush administration. “First, these are people who need health insurance. And second, the scenario that only sick people will enroll is less likely.” Continue reading…
Healthcare Cuts Turn Into Hikes
In 2009, President Obama assured Americans that his new healthcare system would provide cheaper insurance options. The reality four years later, however, is the opposite. As Obamacare still plans on adding more government presence into the healthcare industry, it appears matters are only going to get worse, and coverage more expensive.
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Read more from Forbes.com:
Remember when President Obama promised back in 2009 that his health care reform plan would cut insurance premiums for the average family by $2,500? Four years later, those promised cuts have morphed into admissions of price hikes.
Indeed, America’s health cost crisis shows no signs of stopping. And Obamacare will only make it worse by injecting more government into the health sector.
The latest data aren’t kind to Obamacare. According to a new study from Bank of America Merrill Lynch, 70 percent of chief financial officers cite health costs as their top concern, up from 51 percent last year, mainly because of what they expect Obamacare to do to costs. Continue reading…
Healthcare Called “A Perfect Storm”
At a Rotary Club meeting, Mercy’s CEO spoke about the dilemma the nation is finding itself in with regards to healthcare. Andrea Price says the health industry is practically an impossible puzzle. She also says that the current state of the health care system has been entirely predictable.
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Read more from toledoblade.com:
“An economic perfect storm is coming” in the health-care industry, Mercy’s top executive told a luncheon audience of businessmen and professionals Monday.
“My industry is one of the most complex in the country today,” Andrea R. Price, Mercy’s president and chief executive officer, said during a Rotary Club of Toledo address. “It’s also definitely one of the most highly debated.”
The conundrum Americans face now as they struggle to pay for health care was, in some ways, predictable. Demographers for years have anticipated a greater stress on society as the Baby Boom population reaches retirement age, with health-care costs now estimated at $13,000 a year for those 65 years and older.
But few people saw the perfect storm that’s emerging in the health-care industry. Continue reading…