Archive for July 21st, 2008

Click here to see the chart. . .This came from America’s Health Insurance Providers.  .  . not sure why California is not included as the cuts to California will total approximately $1.2 billion.

IME stands for Indirect Medical Education payments.  States like Pennsylvania, Massachusetts, California and New York tend to take a large hit because teaching hospitals are prevalent.  IME Payments to Medicare Advantage private insurers were totally cut out of MA funding with H.R. 6331.

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This story is from the Michigan Business Review:

General Motors Corp. retirees are likely in for sticker shock after the company announced it is cutting health benefits for retirees older than 65.

There are about 97,000 salaried retirees and at least half will be affected by the change. The cuts were announced as part of a $15 billion cost reduction plan for GM.

“There’s going to be some shock when it comes to premiums and extra costs for what the options are,” said Sue Mathiesen, director of research for McGraw Wentworth, a Troy-based benefits consulting firm.

“If I were an insurance organization, I certainly would be marketing to these folks about the options that are available.” (more…)

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