CAHU Awards Cal Broker Contributor & Many More!
The California Association of Health Underwriters recently doled out annual awards. We think it’s really cool that Dorothy Cociu, CAHU VP of communications and a regular Cal Broker contributor, received the industry writing award! OCAHU received the large chapter of the year award and Sacramento Association of Health Underwriters received the medium chapter of the year. Bruce Benton of LAAHU received a distinguished service award and, drum roll please, Rick Coburn, GGAHU, received member of the year! We encourage you to go to CAHU.org to see who else won!
NAIC Report: CA at Top for Insurance Volume
The National Association of Insurance Commissioners (NAIC) released the second volume of the 34th (Report says 33rd — we are not sure why that is!) edition of the Insurance Department Resources Report (IDRR). The report includes premium volume by type and state and demonstrates a healthy state-based insurance market for 2020.
Total premium collected nationally across all lines of business was $2.7 trillion representing an increase of 6% since 2019. Check out the chart for the top 10 states.
Top 10 States In Terms of Premiums for 2020
|California: $371,617,922,345||Ohio: $109,679,782,638|
|New York: $244,568,766,683||Illinois: $97,914,911,836|
|Texas: $193,518,506,504||New Jersey: $82,218,230,358|
|Florida: $181,844,723,166||Delaware: $79,397,976,000|
|Pennsylvania: $122,624,542,146||Michigan: $76,767,332,988|
LAAHU Annual Medicare AEP Summit at Skirball– Not to be missed!!
The folks at LAAHU have been hard at work organizing a truly awesome event for September 30 at Skirball Cultural Center. Our sources tell us it’s a very cool agenda and many of the carriers will be there to connect and share. There will be social distancing. However, if you’re not able to spend the whole day, you can also just join the happy hour! Now for the official announcement:
The Los Angeles Association of Health Underwriters will hold its Medicare AEP Kick-off Summit in person Sept. 30 at Skirball Cultural Center. Guest speakers so far include: Paul Bauer – Region 9 CMS, Brad Miles, Barry Sikov and Paul Davis. Register here.
Urban Institute Says More Outreach Needed to Get People Insured
Have you noticed that too often this is how the world works: people who could benefit from something are the last to know that the thing is available? Well, that’s what the Urban Institute’s latest findings are telling us about the uninsured and health insurance subsidies. According to the report:
…fewer than half reported having heard a lot or some about the Marketplaces and fewer than a third reported having heard a lot or some about subsidies that make Marketplace coverage and care more affordable.
AMA Publishes New Study Monitoring Competition in U.S. Health Insurance Markets
The American Medical Association (AMA) published the newest annual edition of Competition in Health Insurance: A Comprehensive Study of U.S. Markets with findings demonstrating the rise of highly concentrated markets for health insurance.
The updated study analyzed market concentration and health insurer market shares for 384 metropolitan statistical areas (MSAs), the 50 states and the District of Columbia. For the first time, the study also presents national-level market shares for the 10 largest health insurers in the U.S. The study’s findings show most health insurance markets in the U.S. are highly concentrated leaving millions of Americans with more limited health insurer options.
The AMA’s latest study of competition in commercial health insurance markets shows:
- 73% (280) of MSA-level markets were high concentrated according to federal guidelines.
- 46% (178) of MSA-level markets had one insurer with a share of 50% or more.
- Between 2014 and 2020, the share of highly concentrated markets rose from 71% to 73%.
- 44% of markets that were already highly concentrated in 2014 became even more concentrated by 2020.
- The health insurers with the highest market share in the most MSA-level markets were: 1. Anthem (80 MSAs), 2. Health Care Service Corp. (44 MSAs), 3. UnitedHealth Group and Blue Cross Blue Shield of Florida (each with 22 MSAs apiece), and 4. Highmark and Kaiser (each with 20 MSAs apiece).
- The 10 largest health insurers in the U.S. at the national-level by market share were: 1. UnitedHealth Group (15%), 2. Anthem (12%), 3. Aetna (11%), 4. Cigna (10%), 5. Kaiser (7%), 6. Health Care Service Corp. (6%), 7. Blue Cross Blue Shield of Michigan (2%), 8. Blue Cross Blue Shield of Florida (2%), 9. Blue Shield of California (2%), and 10. Centene (2%).
I was struck by how quickly Cigna’s Express Scripts PBM business has increased revenues and prescriptions from its retail pharmacy network.
I expect Cigna’s influence over the drug channel to expand further as other businesses step onto this burgeoning platform.
InsurTech NY, the leading resource for the InsurTech Community in the New York Metro Area, announced the launch of its Insurance Collaboration Index™. Based on input from InsurTech executives, the index scores insurance and reinsurance companies on their willingness and ability to partner with startup insurance technology companies. It provides a rigorous and objective measure of how easy it is for a carrier and a startup to work together.
SIIA announced that a Future Leader networking reception will be included as part of its upcoming conference in Austin. Scheduled for Sunday, October 3 from 9 p.m. to 11 p.m. in the Blue Eagle Lounge (on-site at host hotel), this event is open for all attendees under 40 years old. This will be a great opportunity for younger industry professionals to connect with each other in a fun environment.
Drinks and desserts will be served during the reception, which will also feature live entertainment. Advance registration is NOT required. Additional conferencedetails can be accessed at www.siiaconferences.org.
Social Media or Website for Crisis Management?
Hopefully your company will never face a crisis but you may be interested in how a company best handles one. Should they Tweet about it? Use their website to communicate? Here’s some great info on the topic.
- LAAHU Medicare AEP Kickoff, in person September 30. Sponsorship info here. Register here.
- SIIA 41st Annual National Educational Conference & Expo, In-Person & Virtual, October 3 – 5, JW Marriott, Austin, TX. Info here.
- LIMRA 2021 Annual Conference, Virtual, Oct 26-28, Info and registration here.