Category: Cost of Healthcare

Category: ACA and Policy, Cost of Healthcare, Health Insurance

The “Buggy Whip” Solution to Surprise Billing

Years ago, I saw a wonderful movie called “Other People’s Money.” If you haven’t seen it, I highly recommend you do, especially the monologues in the last 20 minutes of the film. Really first-class lessons in economics and capitalism encoded into a movie.

At one point in the movie, a merger and acquisition specialist (played by Danny DeVito) uses this (paraphrased) example to explain how technology changes our lives: Read more

Category: Cost of Healthcare, Government Programs, Health Insurance

No Health Insurance? Don’t Wait, the Time is NOW and You’ve Got Affordable Options!

Note from Mike: Yeah, I know there was an election this week. We are waiting for the final results and I’ll be back soon with my take. In the meantime, remember that, no matter the outcome, health insurance for 2021 is not changing. Read the post below for more on your options next year.

You ever wake up and feel like you’ve got a bullseye on your back? Like there’s so much going against you that the most prudent course of action would be just to get back under the bed covers. Like, life’s going to just gang up on me again today so why bother? Read more

Category: Cost of Healthcare, Health Insurance

WHERE DID YOUR MONEY GO? The Latest on How Blue Cross and Blue Shield of Louisiana Spent Your Money

One of the things I’ve always enjoyed about working here at Blue Cross and Blue Shield of Louisiana is the freedom we enjoy as a not-for-profit company. I spent some time in the for-profit, Fortune 500 world earlier in my career, and although I could probably have made more money there, I could never enjoy the freedom to act in the best interest of LOUISIANA that I have here.

In a typical publicly traded company, where everybody is hyper-focused on the stock price, constant consultation goes on between the company’s leaders and their “advisers” on Wall Street. In those situations, analysts and well-meaning outsiders have a huge amount of influence on the way companies behave, and at the end of the day, their primary responsibility is to their shareholders, not to their customers or employees. Read more

Category: ACA and Policy, Cost of Healthcare, Health Insurance

SHOW ME THE MONEY!

One of the more interesting things the Affordable Care Act did to the private health insurance business was to tell health insurance companies that the Feds were now in control of their profit margins. What does that mean?

Imagine you are the CEO of your own health insurance company. In fact, let’s call it Your Own Health Insurance Company, or YOHIC for short! How do you think you would feel if YOHIC collected $1 billion in premiums over a year, but only had to pay out $500 million in healthcare costs? Sounds like YOHIC is doing really well, turning a 50% profit. Does YOHIC get to keep the rest of the premiums for its own payroll and profits?

Since 2010, the answer to that question is a resounding NO! Read more