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“COVID-19 has mucked up the insurance marketplace as a whole – including private employer-provided plans,” said Michael Giusti, InsuranceQuotes.com analyst. Giusti outlined a number of key takeaway for health insurance in 2021 in a recent report for Insurancequotes.com. First, he said, the pandemic made setting premiums especially challenging. Premiums are set based on the previous year’s claims data. Because 2020 was marked by a combination of huge intensive care costs, but almost no preventative care costs, that model was flipped on its head. As a result, median health premium edged up just a percent or two in 2021. But many in the insurance industry are holding their collective breath as things get back to normal, he noted. A major worry is that deferred care will come crashing through the system by this summer, representing a flood of claims once people are willing to see a doctor again. ....
Dems Want To Make COVID-19 Relief Provisions Permanent In New Package Washington Times (DC) The cost of President Biden s $1.9 trillion coronavirus relief package is on track to double if popular provisions like an expansion of the child tax credit are made permanent, which is exactly what Democrats say they plan to do. The new package includes a one-year expansion of the child tax credit and bolsters other popular tax breaks like the earned income credit. If made permanent, it would be expected to increase the cost of the package to as high as $4 trillion. Overall, we could be looking at the cost of this package doubling from $2 trillion to $4 trillion over the decade, said Brian Riedl, a senior fellow at the Manhattan Institute. And if that happens, interestingly, the permanent extensions will cost as much as the 2017 tax cuts. ....
A public option and a Medicare buy-in may be two of the Biden administration’s best-known health care initiatives, but a consultant said the partisan nature of today’s Congress means “they don’t have a chance” of becoming reality anytime soon. Dan Mendelson, founder of Avalere Health, and Anne Phelps, U.S. health care regulatory leader with Deloitte & Touche, gave their views on the 2021 health care outlook beyond COVID-19. They spoke during America’s Health Insurance Plans’ National Health Policy Conference on Wednesday. Mendelson said that with Democrats holding a razor thin majority in Congress, and with some Democrats having misgivings on expanding the government’s role in health care, there is not enough support in Congress for a public option or Medicare buy-in. ....
The American Rescue Plan, which is expected to head to President Joe Biden’s desk for his signature this week, is a $1.9 trillion COVID-19 relief bill and the first legislative victory of the new administration. An advisor to Biden’s transition team told attendees at America’s Health Insurance Plans’ virtual National Health Policy Conference that the massive relief bill “is a great first step.” Chris Jennings, founder and president of Jennings Policy Strategies, has had more than 30 years of health policy experience in the White House, Congress and the private sector. He advised the Biden transition team on health care policy. Jennings told AHIP attendees that the importance of the American Rescue Plan goes far beyond its price tag. ....