SSA pressed to make Medicare Part B changes
The Social Security Administration could be hard-pressed to do an effective job of implementing changes in the Medicare Part B supplemental medical insurance program, according to a recent report from the U.S. Government Accountability Office. Beginning Jan. 1, the premiums for the Medicare Part B Supplementary Medical Insurance program will be based on income, which will raise the premiums for approximately 1.65 million higher-income beneficiaries to as much as 80 percent of the full cost over the three-year phase-in period.
Study: Rising healthcare costs take toll on savings
Americans struggling with rising healthcare costs say these increases cut into personal savings and impact household finances, according to the results of the 2006 Health Confidence Survey released in November by the Employee Benefit Research Institute and Mathew Greenwald and Associates, Inc. Thirty-six percent say increased healthcare costs result in a decrease in savings for retirement, up from 25 percent in 2004, while 28 percent reported difficulty in paying for even basic necessities, up from 18 percent. The survey is based on 20-minute telephone interviews with 1,000 U.S. residents ages 21 and older.
New solution Helps Insurers Streamline
Independence Blue Cross, an insurer in Southeastern Pennsylvania that serves nearly 3.4 million members, has selected DST Health Solutions’ new PowerAnalyzer for Benefits to facilitate benefit plan analysis. The insurer currently uses DST Health SolutionsPowerMHS healthcare administration software. Built on a service-oriented architecture platform, PowerAnalyzer for Benefits can be deployed as a complementary component to PowerMHS, or any other healthcare administration engine.
Survey shows Americans worried about healthcare
One in three Americans – 32 percent – say they are concerned that they will someday need to declare bankruptcy due to unexpected medical bills, according to a recent survey commissioned by insurance provider Aflac. Additionally, the survey found that nearly 89 percent of Americans say the rising cost of healthcare is among the most pressing concerns facing Americans today. The nationwide survey randomly polled 2,091 Americans age 18 and older in September 2006.