More than 66 percent of all adults in the United States use prescription drugs. And with or without health insurance, prescription drugs can be high-priced. Adults spend nearly $73 billion on prescription drugs. It equates to 16 percent of total health costs. Any help you can receive in prescription drug discounts is welcome. Two forms…
What Are the Two Types of Prescription Drug Cards?
July 8, 2023
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Medicaid Recipients Urged to Verify Eligibility Before Pandemic Subsidies Expire
Up to 15 million Medicaid beneficiaries could lose coverage as pandemic subsidies dry up by the end of the year. State officials say eligible recipients should contact their state Medicaid office to ensure their coverage isn’t interrupted. “There are substantial protections in place,” said Brian Blase, founder and president of Paragon Health Institute (PHI), a…
Health Savings Accounts Are More Attractive Than Ever: Is It Time to Get One?
June 9, 2023
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Recent changes to health savings accounts (HSAs) make them much more attractive. These accounts double as health insurance and a retirement account. Previously, they only allowed smaller contributions each year, but the limit has been raised for 2024. Money contributed to a health savings account is tax deductible. It enables money to be available for…
Financial Institutions AMP and MLC Fined Millions for Breaching Customers’ Trust
May 21, 2023
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Australia’s Federal Court has issued AMP Group with a $24 million (US$16 million) fine for charging over 2000 deceased customers life insurance premiums and advice fees for nearly a decade. Additionally, the court has also fined MLC $10 million (US$6.6 million) for failing to pay benefits to nearly 120 injured or disabled customers it had promised…
Health Care Professionals Call for Standardized Provider Directories
Inaccurate health care provider directories cause stress, unnecessary expense, and aggravation for insurance customers every day, according to witnesses testifying before a Senate Committee on Finance hearing on May 3. “Ghost networks are an ongoing, persistent problem,” said committee chairman Sen. Ron Wyden (D-Ore.) Witnesses called on Congress to take steps to standardize directories and…
California Doctor Faces $290 Million in COVID-19-Related Fraud Charges
A doctor in Orange County, California, has been charged by federal prosecutors for orchestrating approximately $230 million worth of fraud during the COVID-19 pandemic. The Department of Justice announced the charges against Dr. Anthony Ha Dinh and 17 other individuals on April 20. The total “intended fraud loss” among all 18 defendants is over $490…
Experts Say Transparency Needed in Drug Pricing Practices
March 30, 2023
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Sen. Ron Wyden (D-Ore.) says it’s time for Congress to shine a light on a business with extraordinary control over prescription drug prices—Pharmacy Benefit Managers (PBM). “I believe this is an industry going in the wrong direction,” Wyden said during a hearing hosted by the Senate Finance Committee on March 30. The hearing was titled…
Biden Administration Approves Health Insurance for Illegal Immigrants in Washington State
December 13, 2022
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The Biden administration has approved a waiver that will allow Washington state to offer health insurance to illegal immigrants. The waiver, known as the “State Innovation Waiver” was submitted by the state in the spring and approved by the Department of Health and Human Services (HHS) and the Treasury Department on Dec. 9 under section 1332 of the…
Retiring Early? Nail Down Health Insurance
By Lisa Gerstner From Kiplinger’s Personal Finance If you’re 65 or older when you retire, you can rest easy knowing that you’ll be eligible for Medicare. But if you want to leave the workforce earlier than that, you’ll have to find a way to bridge a health insurance gap. Here are some options: Get on…
A Tax Credit to Reduce Health Care Premiums
By Joy Taylor From Kiplinger’s Personal Finance Question: I’m purchasing health care coverage through my state’s exchange and wonder if I’ll be eligible for a tax credit that reduces my premium. Who qualifies for it? Answer: The premium tax credit is available to eligible individuals who buy health insurance through an exchange. More people qualify…
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