January 29, 2016

Health Insurance Penalty, Trump wants Medicare to Negotiate and more in CarePayment News You Can Use

By CarePayment

Young Consumers Balk at Fine for Avoiding Health Insurance health insurance penalty

As open enrollment comes to an end this Sunday, the Centers of Medicare and Medicaid Services and Enroll America (a nonprofit organization) are marketing aggressively to get Americans to enroll in health insurance, reports Fierce Health Payer. Specifically, these groups are emphasizing the penalty associated with not having insurance. However, many Americans, especially millennials, are preferring to pay the fine rather than purchase the least expensive health plan offered on the market exchange. Why? The penalty is cheaper than acquiring health insurance.

Trump Calls for Medicare to Negotiate Drug Prices

GOP presidential candidate Donald Trump wants Medicare to negotiate drug prices with pharmaceutical companies. According to The Hill, Trump believes it will save billions of dollars. The notion of allowing Medicare to negotiate drug prices has been supported by Democrats, including President Obama and Democratic presidential candidates Hillary Clinton and Bernie Sanders. Currently, negotiations between Medicare and pharmaceutical companies have been banned by the 2003 Medicare prescription drug law.

Insurance Costs Dominate Pubic Worries about Healthcare, Survey Finds

The Los Angeles Times reports how the cost of health insurance is one of the main concerns for U.S. adults. As the presidential race continues, healthcare and insurance costs are ranked third as the most important issue to their vote. Terrorism and the economy and jobs take the top two spots.