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Covered California anuncia una baja récord en las primas para 2021

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Las primas para los planes de salud vendidos a través de Covered California, el mercado de seguros establecido por la Ley de Cuidado de Salud a Bajo Precio (ACA), aumentarán un promedio de 0.6% el próximo año, el incremento más bajo desde que comenzó a ofrecer seguros de salud en 2014, dijo la agencia.

El aumento modesto le sigue a un incremento promedio a nivel estatal de 0.8% en la cobertura que comenzó en enero de este añ, que también marcó un récord por lo bajo.

Los cambios en las tasas variarán según las regiones, desde un aumento promedio de 5.6% en el condado de Santa Clara hasta reducciones de 2.1% en el suroeste del condado de Los Ángeles, y 2.6% en los condados de Imperial, Inyo y Mono.

Antes del anuncio, algunos observadores de la industria habían pedido recortes de tasas, ya que este año se ha gastado mucho menos en atención médica regular.

En la primavera, se cancelaron las cirugías electivas por la pandemia de COVID-19 y se han estado reduciendo dramáticamente las citas médicas, y a salas de emergencias y clínicas ambulatorias.

Sin embargo, Peter Lee, director ejecutivo de Covered California, dijo que las compañías de seguros del mercado “están viendo cómo recuperan sus costos de atención médica y están proyectando que en lo que queda del año se pondrán al día con los gastos de salud que pensaron que iban a tener en 2020”, dijo Lee.

Los planes de salud en el mercado habían proyectado aumentos en los costos médicos no relacionados con COVID de 4% a 8% el próximo año y no pensaron que necesitarían un presupuesto adicional para la pandemia, explicó.

El incremento de la tasas ha sido modesto principalmente debido a un aumento de nuevos afiliados “más saludables” tanto durante el período de inscripción regular para la cobertura de 2020 como el período especial de inscripción actual, recientemente extendido hasta el 31 de agosto, para las personas cuya cobertura se ha visto afectada por la pandemia, dijo Lee.

Covered California dijo que un análisis del riesgo médico y la demografía de estos recién llegados mostró que “son más saludables en promedio que las cohortes equivalentes de 2019”.

Otros factores, dijo, incluyen la derogación de un impuesto federal sobre los planes de salud, que redujo las primas de 2021 en un promedio de 1.7%, y un recorte el próximo año en la tarifa de “participación” que los planes de salud pagan a Covered California, del 3.5% a 3.25% de las primas.

Covered California brinda cobertura a aproximadamente 1.5 millones de californianos que compran su propio seguro. Alrededor del 90% de ellos reciben asistencia financiera del gobierno federal o estatal, o de ambos, para ayudar a pagar sus primas. Los planes en el mercado son semejantes a los del mercado abierto, donde las personas compran seguros sin asistencia financiera.

Algunos expertos en sistemas de salud creen que las aseguradoras continuarán gastando menos en atención médica el próximo año.

Glenn Melnick, profesor de finanzas públicas en la Escuela de Políticas Públicas Sol Price de la Universidad del Sur de California, dijo que los hospitales, especialmente en la sala de emergencias y las visitas ambulatorias, aún no llegan a tener un volúmen de pacientes y procedimientos como tenían antes de COVID y podrían continuar así hasta que haya una vacuna disponible.

Michael Johnson, un analista de la industria de seguros de salud que trabajó como ejecutivo en Blue Shield of California de 2003 a 2015, opinó que “los reguladores deberían estar obligando a estos planes a justificar por qué no están reduciendo las tasas, dado el efecto que hemos visto que la pandemia está teniendo hasta ahora”.

El aumento promedio en todo el estado entre los operadores de Covered California es menor que lo que se ha propuesto en muchos otros estados.

Un análisis de KFF de julio de las tasas propuestas para 2021 en los mercados de 10 estados y el Distrito de Columbia mostró un aumento promedio del 2.4%, con cambios que van desde un aumento del 31.8% por un plan de salud en Nuevo México hasta un recorte del 12% por uno en Maryland.

Los anuncios de tarifas de este año se producen cuando ACA sigue amenazada por una demanda federal presentada por funcionarios republicanos de 18 estados, junto con la administración Trump, con la meta de revocar la ley.

De ganar la demanda, más de 20 millones de personas podrían perder su cobertura de salud y se podrían eliminar las protecciones populares para el consumidor que brinda ACA, incluida la prohibición de discriminar o cobrar más a las personas con condiciones preexistentes como hipertensión o diabetes.

La Corte Suprema planea escuchar el caso en el otoño.

Las 11 compañías de seguros que operan en Covered California este año permanecerán en 2021, y no entrarán nuevas en el mercado. Pero Anthem Blue Cross y Oscar Health Insurance expandirán sus ofertas geográficamente, según informó el mercado.

Anthem ingresará a los condados de Inyo, Kern, Mono y Orange. Oscar se unirá a la competencia en el condado de San Mateo. Muchos de los planes de salud de Covered California están disponibles solo en ciertas regiones.

Kaiser Permanente es el mayor operador en Covered California, con cerca de 526,000 afiliados este año, más de un tercio del total. A Kaiser le sigue Blue Shield of California, con 392,000, y Health Net, con 232,000.

Las tarifas difieren no solo de un operador a otro y de una región a otra, sino también según la edad de la persona cubierta. Las primas también difieren según el nivel de beneficios, desde el nivel de cobertura “bronce” más barato hasta el más alto, conocido como “platino”.

Cuanto menor sea la prima, mayores serán los deducibles y los pagos de coseguro por la atención.

El deducible individual para el nivel de bronce en 2021 se establece en $6,300. Para el nivel de plata, el segundo nivel de cobertura más barato, el deducible individual completo en 2021 será de $4,000, también. Pero muchos afiliados en el nivel de plata están en planes que ofrecen ayuda financiera para reducir su parte de los costos médicos, y eso puede hacer que el deducible para 2021 baje a $75.

Además, numerosos servicios médicos no están sujetos al deducible en los planes de plata, incluidas la atención primaria y visitas a especialistas, análisis de laboratorio, radiografías y otros. En los planes de bronce, las primeras tres visitas de atención primaria no están sujetas al deducible.

Covered California dijo que, en promedio, los beneficiarios del mercado que planean renovar para 2021 pueden ahorrar un 7.3% en las primas al cambiar al plan menos costoso en el mismo nivel de cobertura.

Las tarifas de 2021 están sujetas a una revisión final por parte del Departamento de Atención Médica Administrada y el Departamento de Seguros del estado, pero es poco probable que ocurran cambios significativos.

El período de inscripción para la cobertura 2021 comienza el 1 de noviembre y se extiende hasta el 31 de enero.

Esta historia de KHN fue publicada primero por California Healthline, un servicio de la California Health Care Foundation.

Kaiser Health News (KHN) is a national health policy news service. It is an editorially independent program of the Henry J. Kaiser Family Foundation which is not affiliated with Kaiser Permanente.

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This story can be republished for free (details).

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By: Bernard J. Wolfson
Title: Covered California anuncia una baja récord en las primas para 2021
Sourced From: khn.org/news/covered-california-anuncia-una-baja-record-en-las-primas-para-2021/
Published Date: Tue, 04 Aug 2020 06:51:53 +0000

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Ends-of-the-World Every Year Since 1970

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There always has been and always will be a reason not to invest or not to stay invested. This is all the mainstream media reports to us. Below you will find a list of some of the worst global events each year since 1970. I have some commentary to follow.

1970: War: US troops invade Cambodia.
1971: Civil Unrest: Anti-war militants march on Washington.
1972: Political: Start of Watergate Scandal.
1973: Economic: OPEC raises oil prices in response to US involvement abroad.
1974: Political: Nixon resigns as President of the United States.
1975: Political: Multiple assassination attempts on President Ford.
1976: World: Ebola virus.
1977: Political: Government shutdowns.
1978: Market: U.S. Dollar plunges to record low against many European currencies.
1979: World: Iranian militants seize the U.S. embassy in Teheran and hold hostages.
1980: Economic: Inflation spiked to a high of 14.76%.
1981: Political: President Reagan assassination attempt.
1982: Economic: Recession continues in the U.S. with nationwide unemployment of 10.8%.
1983: Economic: Unemployment in the U.S. reaches 12 million.
1984: Economic: 70 U.S. banks fail during the year.
1985: World: Multiple airplane hijackings around the world.
1986: World: Chernobyl Nuclear Power Station explodes.
1987: Market: DOW drops by 22.6% on October 22.
1988: Environment: Awareness of global warming and the greenhouse effect grows.
1989: Environment: Exxon Valdez dumps 11 million gallons of crude oil into Prince William Sound.
1990: World: Persian Gulf War starts.
1991: World: Mass shooting in Killeen, TX.
1992: Human Rights: Los Angeles riots following the death of Rodney King.
1993: Terrorism: World Trade Center bombing.
1994: World: Mass genocide in Rwanda.
1995: Terrorism: Oklahoma City bombing.
1996: Terrorism: Olympic Park bombing.
1997: World: Bird flu.
1998: World: Multiple U.S. embassy bombings.
1999: World: Columbine shooting.
2000: Economic: Start of the Dotcom Market Crash.
2001: Terrorism: Terrorist Attacks in NYC, DC & PA.
2002: Economic: Nasdaq bottomed after a 76.81% drop.
2003: World: The U.S. invades Iraq.
2004: World: The U.S. launches an attack on Falluja.
2005: World: Hurricane Katrina
2006: World: Bird flu.
2007: Economic: Start of the Great Recession.
2008: Economic: Great Recession continues.
2009: Economic: S&P bottomed after a 56.8% drop.
2010: Market: Flash crash.
2011: Market: Occupy Wall Street and S&P downgrades U.S. Debt.
2012: Political: Fiscal cliff.
2013: Political: Taper tantrum.
2014: World: Ebola virus.
2015: World: Multiple mass shootings.
2016: Political: Divided U.S. Presidential election.
2017: World: North Korea testing nuclear weapons.
2018: Economic: U.S. & China trade war.
2019: Economic: Student loan debt reaches an all-time high of $1.4 trillion.
2020: World: COVID-19.

While many of these events were undoubtedly terrible (and there are certainly others not named here that were worse), most of these were broadcast as end-of-the-world events for the stock market. Despite that attention, it is worth noting that these were, for the most part, one-time events. In other words, most faded into the newspapers of history. We moved on.

Obviously, some caused monumental shifts in the way the world works. Just think about how much air travel continues to be impacted by the events of 9/11. But, outside of the resulting inconveniences (if we want to call safety protocols inconveniences) associated with air travel, flying is safer than ever before.

Take a look at just about any of the events and you will find there are many that people will hardly remember. My point here isn’t that these events are to be ignored or that they were easy to stomach at the time, but that they have become a distant memory.

I want to also make the point that we should expect these types of negative events. As investors, we know these types of crises, economic catastrophes, and global phenomena are going to happen.

But in almost all cases, here is what we can say in the next breath – this too shall pass.

Will there be legal, humanitarian, economic, or some other aid required as a result of these events? Almost certainly the answer is yes, but that doesn’t mean it they won’t eventually fade into history.

Lastly, what’s worth noting is how the market has performed over these last 50 years despite the continual advertisements of the world crashing down around us. On January 2, 1970, the Dow Jones stood at 809 and the S&P at 90 -> those are not typos. These same indexes have grown (not including dividends) to 26,387 and 3,232 respectively. Amazing, no?

Perhaps what gets overlooked more than anything else is what separates the above one-time negative events from the positive stories that go largely ignored over our lifetimes. And that is a story worth telling. See the companion post below:

Unheralded Positive Events Every Year Since 1970

Stay the Course,
Ashby


Retirement Field Guide Mission:

“To help 10 million people make better retirement decisions.”


If you would like to join us in achieving our mission, I hope you will consider sharing our site if you have found it helpful in your own retirement planning.


This post is not advice. Please see additional disclaimers.

The post Ends-of-the-World Every Year Since 1970 appeared first on Retirement Field Guide.

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By: Ashby Daniels, CFP®
Title: Ends-of-the-World Every Year Since 1970
Sourced From: retirementfieldguide.com/ends-of-the-world-every-year-since-1970/?utm_source=rss&utm_medium=rss&utm_campaign=ends-of-the-world-every-year-since-1970
Published Date: Tue, 04 Aug 2020 13:26:19 +0000

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Wildfire prone property insurance bill in California due for hearing

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The post Wildfire prone property insurance bill in California due for hearing appeared first on Live Insurance News.

The bill is expected to be heard in upcoming weeks as opposing sites prepare for major battle.

A new California bill, the outcomes of which will have a lot to say about coverage for wildfire prone property in the state, will soon be headed for hearing. The hearing is expected to be a heated one as strong opposing opinions have the opportunity to be voiced.

Opponents of this bill are calling it a direct attack on consumer protections in insurance.

That said, proponents of the bill claim it is the best method for making coverage available to wildfire prone property in California. The bill in question is Assembly Bill 2167. It was written by Assemblyperson Tom Daly (D-Anaheim). If it passes,it will create the Insurance Market Action Plan (IMAP) program. The IMAP program is meant to protect residential properties.

So far, AB 2167 has progressed quickly, when taking into consideration that a chunk of the legislature has been considerably restricted by pandemic crisis precautions. It was first presented in early June and backers have been saying that it was brought forward in good timing and that it has all the momentum it needs to be passed.

That said, AB 2167 has not been without opposition. In fact, it has faced considerable opposition, having been called an attack on Proposition 103, insurance consumer protection law. California Insurance Commissioner Ricardo Lara lobbed that argument at it, calling it an “insurance industry wish list, with nothing to help consumers,” and Consumer Watchdog, whose founder, Harvey Rosenfeld, was the original author of Proposition 103.

The insurance industry strongly supports the bill, saying it will help wildfire prone property coverage.

Insurance organizations such as the American Property Casualty Insurance Association and the Personal Insurance Federation both support AB 2167. The bill also has the support of the California Association of Counties (CSAC), as well as Fire Safe Councils of California, and the CalFIRE union.

The Consumer Federation of America, another watchdog organization, has predicted that if AB 2167 passes, it will cause 40 percent increases in insurance rates. On the other hand, insurance groups claim that the bill offers owners of wildfire prone property a greater opportunity for choice and competition among insurance companies based on coverage and premiums while avoiding the limitations and high costs associated with FAIR Plan coverage.

The post Wildfire prone property insurance bill in California due for hearing appeared first on Live Insurance News.

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By: Marc
Title: Wildfire prone property insurance bill in California due for hearing
Sourced From: www.liveinsurancenews.com/wildfire-prone-property-insurance-bill-in-california-due-for-hearing/8549884/
Published Date: Fri, 14 Aug 2020 09:00:14 +0000

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Is this the last hurrah for bonds?

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Recently, I have written quite a bit about the long-term return expectations for investing in bonds. See here, here, here and here.

Spoiler alert: I don’t think it’s good.

But long-term bonds this year have been quite an amazing story as the COVID pandemic has caused the Fed to take historically monumental actions. As a result, we’ve watched long-term Treasuries tear the roof off the market. For instance, a 20+ Year Treasury Bond ETF (name withheld for compliance purposes) is up more than 31% YTD as of July 31st.

That is insane!

But there is a good reason for this increase shown below.

The red circle shows a decrease in the 30-year Treasury rate of almost 40% over a span of six months. That’s practically unprecedented with only two periods (2008 and 1981-1982) having similar declines over such short periods.

But this begs the question: Is this the last hurrah for bonds as a driver of any meaningful return? Below is the 30-Year Treasury rate over the last 40+ years.

For what it’s worth, people have been forecasting the end of the bond bull market since 2012 (maybe even earlier) and yet it has continued despite those predictions. But at some point, the bond party will come to an end.

The Fed has been clear that they are going to keep rates stable until at least 2022 which means this may not change for a little while longer. Or in the near term, I could even see the high returns continuing if we experience pandemic economic shutdown round two.

But, I can’t see a world where this is the case for much longer than that – most importantly over the span of a 30-year retirement.

The official end of the bond bull market depends on a recovery from the pandemic economy as well as a few other factors causing rates to rise. But when they do, it seems likely to me that this may be the last great hurrah for bonds for quite some time.

The question is when to get off that train and that undoubtedly requires a personal answer.

Stay the Course,
Ashby


Retirement Field Guide Mission:

“To help 10 million people make better retirement decisions.”


If you would like to join us in achieving our mission, I hope you will consider sharing our site if you have found it helpful in your own retirement planning.


This post is not advice. Please see additional disclaimers.

The post Is this the last hurrah for bonds? appeared first on Retirement Field Guide.

—————–

By: Ashby Daniels, CFP®
Title: Is this the last hurrah for bonds?
Sourced From: retirementfieldguide.com/is-this-the-last-hurrah-for-bonds/?utm_source=rss&utm_medium=rss&utm_campaign=is-this-the-last-hurrah-for-bonds
Published Date: Wed, 12 Aug 2020 13:47:16 +0000

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