Medicare Part B premiums may increase in 2024, prompted by a new Alzheimer’s treatment
One of the costs retirees pay — Medicare Part B premiums — may be increasing in 2024, driven by a new Alzheimer’s treatment on the market.
The Medicare trustees projected in March that the standard monthly Part B premium may increase to $174.80 in 2024, an almost $10 monthly increase from the $164.90 standard monthly premium beneficiaries are currently paying.
Why insurers are paying double for the same procedure in the same hospital
Hospitals charge commercial health plans two to three times more than what they charge the same insurer’s Medicare Advantage plans for the same procedure, a new study in Health Affairs found.
Why it matters: While it’s well established that private plans are typically charged more than Medicare, this study leverages the latest available pricing data to shed light on differing dynamics between the commercial and Medicare Advantage markets.
The Real Costs of the New Alzheimer’s Drug, Most of Which Will Fall to Taxpayers
The first drug purporting to slow the advance of Alzheimer’s disease is likely to cost the U.S. health care system billions annually even as it remains out of reach for many of the lower-income seniors most likely to suffer from dementia.
Cyberattack Disrupts Hospitals Across Multiple States
A cyberattack targeted facilities operated across several states by Prospect Medical Holdings, disrupting computer systems and forcing some emergency rooms to shut down and ambulances to be diverted.
John Riggi, the American Hospital Association’s national advisory for cybersecurity and risk, told the Associated Press that the recovery process in these instances can sometimes take weeks. In the interim, hospitals have been falling back on paper systems and manual administrative work such as running records between various departments.
A Year With 988: What Worked? What Challenges Lie Ahead?
The Suicide & Crisis Lifeline’s 988 hotline marked its one-year milestone this month. Mental health experts say the three-digit number made help more accessible than before.
The hotline was designed with the idea that people experiencing emotional distress are more comfortable reaching out for help from trained counselors than from police and other first responders through 911.
MEDICARE
Sponsored by AGA
Applied General Agency Medicare Options is now AGA Life and Health
Applied General Agency is thrilled to announce an important milestone in our company’s journey. Applied General Agency Medicare Options is now AGA Life and Health.
With the evolving landscape in the healthcare industry, we’ve taken a bold step to comply with new CMS regulations. As a result, we’re rebranding Applied General Agency’s Medicare Options to AGA Life and Health.
His Anesthesia Provider Billed Medicare Late. He Got Sent to Collections for the $3,000 Tab
Thomas Greene had been experiencing pain in his right leg, a complication from diabetes, when doctors recommended a procedure to increase blood flow to the limb.
Retired from a career as an electrician and HVAC technician, he had an outpatient procedure in April 2021 to alleviate his pain by dilating the clogged artery using a balloon snaked into his blood vessel.
GROUP BENEFITS
Sponsored by Word&Brown
Active Participation in NABIP, CAHIP, and Other Groups Can Benefit You Professionally and Personally
If you have been working in the health insurance business for a while, you may be familiar with the National Association of Health Underwriters (now known as the National Association of Benefits and Insurance Professionals or NABIP). Even if you’re new to our industry, you’ve probably heard something about NABIP or your state or regional group. Are you a member? Do you know everything each advocacy group is doing for you – and your clients?
Covered California to Cut Patient Costs After Democrats Win Funding From Newsom
Weeks after Democratic lawmakers forced Gov. Gavin Newsom to make good on a four-year-old pledge to use tax penalty proceeds from fining the uninsured to increase health insurance subsidies for low- and middle-income Californians, Covered California officials announced they will funnel that money into reducing out-of-pocket spending for many enrollees struggling with the cost of care.
Employee Navigator Announces Acquisition of Ease
Employee Navigator, the leading benefits administration and HR software solution for insurance brokers and employers, has just announced its acquisition of Ease, the leading small business HR and benefits software solution aimed at brokers.
EXIT PLANNING FOR BUSINESS OWNERS
Sponsored by Strazzeri/Mancini
FEATURED PRESENTATION
Building Financial Projections – Keys to Increasing Business Value and Entrepreneur Cash Flow
Business owners are often conflicted when it comes to deciding if, when, and how to transition out of the business. In reality, a deep dive and clean-up of their business operations and financials will often expand the myriad of internal and external transition options.
Presented by Jeffrey Kates, MBA, CEPA
California Broker is pleased to provide this content from the Southern California Institute. Gain access to the supporting video, audio and documents through the “Basic Free Membership”
The SCI Academy offers more titles and topics available with the “Basic Free Membership” with free access for California Broker Magazine readers.
The SCI Academy is the digital extension of SCI’s Thought Leader Community providing resources, education, and advice via collaborative think tanks, events, programs, online content, and introductions.
“Special Offer for California Broker Magazine Readers”
As a “Basic Member” you will have special alerts and access to live events such as
Thursday Insights, Community Insights, and select recordings.
You will also enjoy discounts for select conferences, programs and products. Additionally, you will have access to Thought Leader Connections and Monday Practice Builders.
To sign up for the “Free Basic Membership” (normally $49/month) Click here:
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We look forward to helping you grow your practice.
Thank you for being a member!
For benefit advisers, a guide to managing client change and generating results
Managing change and generating results are two useful strategies for developing and maintaining a comprehensive, successful benefits program. As a consultant, deciding which strategy will produce the most value for your clients can be challenging. But by taking time to understand their expectations, employee needs and company culture, an appropriate path can be determined.
COMMISSION COACH
Sponsored by Commission Solutions
How do Health Brokers Young and Old Plan for Success
Start with the end game
By Phil Calhoun
This article series covers topics related to How to Protect, Grow, and Sell Health Insurance Commissions.
In the surface, for all active health insurance professionals, it may seem the main goal in planning is the future harvesting of the value in a book of business — with the hope to make an exit at some point years from now and happily move into the next phase of life. While this thought gives hope, hope is no guarantee of success.
PROFESSIONAL DEVELOPMENT
Special thanks to Russ Williams for his new Professional Development
contributions twice a month for California Brokers. His “Letters on Integrity” will explore the themes of Integrity.
Through The Clarity Conversation, Russ offers readers the chance to work directly with him to explore these subjects.
Managing Choice
THE MANTLE OF PERSONAL RESPONSIBILITY
“Few things help an individual more than to place responsibility upon him, and to let him know that you trust him.”
Booker T. Washington
Personal responsibility…the great mobilizer of noble living! As a youngster, I was fortunate to have character mentors who helped me understand the first action of ethical inquiry…personal responsibility. Its daily use is the priceless human freedom that allows us to choose and re-choose a fundamental viewpoint for positive influence: If it’s to be, it’s up to me!
INDUSTRY CALENDAR
EVENTS, LEARNING, AND NETWORKING
- August 11@ 5:45 p.m., CAHIP-IE Night out at the Quakes, LoanMart Field, Rancho Cucamonga, CA, Register
- August 16, 2023 @ 4:00 PM, YAT Social & Networking, NAIFA-California San Francisco, Register
- August 31@ 4:00 pm – 7:00 pm NAIFA-LA, KICK OFF THE CELEBRATION-SEPTEMBER IS LIFE INSURANCE AWARENESS MONTH, Lucille’s Smokehouse BBQ Woodland Hills, CA, Register
CONFERENCES
- August 16- LAAHU Medicare Summit @8:00 AM – 4:30 PM-The Odyssey,15600 Odyssey Drive Granada Hills, CA 91344, Register
- August 22 – August 24, 2023 “Senior Summit: Exploring the Medicare Jungle,” Pechanga Resort, Temecula, CA, Register
- August 30- 2023 SAHU Business and Medicare Expo, Citrus Heights Community Center, 6300 Fountain Square Drive Citrus Heights, CA 95621, Register
- September 12, 2023 @ 9:00 AM, CAHIP-OC, Annual CE Day, Lake Forest Community Center, Register
- October 5-6, 2023 -NAIFA-California’s 2023 Career Advancement Conference, e3, to EMPOWER, ENGAGE, and EXPLORE, Humphreys Half Moon Inn, 2300 Shelter Island Drive, San Diego, CA, 92101,Register
- October 8-10, 2023 – All Day, 2023 SIIA National Conference, JW Marriott Desert Ridge, Phoenix, AZ, Register
- October 22 – 24, LIMRA Annual Conference, Gaylord National Resort & Convention Center, National Harbor, MD, Register
WEBINARS
- September 21, 2023, 2 PM (EASTERN) NAIFA Live: Practice Growth and Success, Register through the NAIFA Member Portal
