Over the last 2 years I have had posts on many of the health insurance companies exploring making money outside the US, Blue Cross in China for one example and so on. They are all doing it, as when you are traded on the stock market, money, money, money talks. This one global trade union sees the writing on the wall and is conducting their own investigation, for fear of losing their healthcare as they know it today through the NHS, and if I were over there I would probably be doing the same thing. Cigna, for example here hired one of the big chief executives from BUPA, one of the companies being investigated by the Global Trade Union. BUPA also has an interest in Asia.
Our lives with technology and trying to attain balance are getting more complicated every day, and from what we experience here in the US, I can’t blame them for not wanting to have to experience items such as this:
As you can see, the bidding process can’t even be done correctly with Tri-Care, and the story says Aetna basically cheated by hiring a former Tri-Care administrator to prepare the bid. We live breathe and eat this stuff here in the US and yes the world is watching and analyzing. What is also interesting is that these same health insurance companies can’t get their act together with providing security for patient records, and yet we get this below, they want to tell us how to shop for health insurance too? Again, the world is watching and sees the frustrating algorithmic formulas made up by health insurance carriers that are traded on Wall Street and see how this is all for monetary gain, not better care. If some better care comes a a result in some isolated areas though,that is touted as their grand efforts, but it does not balance the entire picture.
It appears other parts of the world are skeptical about the “health insurance virus” we have here in the US. Again I understand their need to exist and I feel they should return to being non profit to help correct healthcare reform and assure patients they are not going to be dropped if they get sick. Aetna by the way plans on dropping 600,000 members this year as they “scored” non profitable and I hope you are not one them. The game here just can’t continue as it is today and our leaders should really get a hold of some of these algorithmic formulas to audit and use better formulas themselves. I say this in view of the fact that Congress is trying to increase coverage, and yet the states have no money are they themselves are using algorithms to drop people by using the algos to create tougher eligibility qualifications. This is not the state’s faults by any means and I would tend to believe that Congress should have all the details on the status of affairs on where all the 50 states stand with budgets, don’t the 2 areas of data communicate?
Schwarzenegger Calls for Healthcare Reform to be Fixed – Wants the Same Sweetheart Deal that Nebraska Received With Medicaid
Arizona Medicaid Program Draws Fire – Governor Wants to Roll Back Part of Eligibility Increase – 1 out of 6 Residents are Enrolled But We Have Money for Football
Arizona for example gets a 65% match on Medicaid where California gets 50% and even with the 65%, Arizona is headed to dump around 300,000 off the rank and files for Medicaid….same stuff insurers too when profitability is not there. In light of all of this though, Cigna and other are ramping up to keep the shareholders investing, which does not mean better care per se, just more money for Wall Street and meanwhile back at the ranch, we have our US hospitals putting out notices to doctors to be sure and meet admitting quotas.
This is not to pick on hospitals by any means, they are trying to survive and provide care and by raising the goals for admitting patients it brings in money so they too are trying to survive, play the game and provide medical care. Remember 55% of of the US hospitals are currently operating in the RED, so it’s not their fault, it’s the health insurance business and our Congressional leadership at the top of the helm, health insurers in many areas taking advantage of the lack of education needed to understand their complicated algorithmic business models with Congress and using “tech smart” lobbyists to partially “pull the wool over their eyes” with complicated language that is partially non understandable, but will gain for those on Wall Street.
This is one of the reasons I talk so much about needing “tech knowledge in Washington, so “we don’t get fooled again”. BD
Cigna International said Wednesday it will develop and offer individual private medical insurance products for citizens in countries outside the United States.
The Philadelphia insurance company (NYSE:CI) said the product will also be marketed to expatriates and “high net worth individuals.”
Keith Biddlestone will lead Cigna International’s individual private medical insurance effort when he joins the company Feb. 1. He is coming to Cigna from Bupa International, where he spent more than 25 years in a variety of health-care leadership positions in both Europe and the Asia-Pacific regions.