Some universities that took a monetary hit after being pressured to close down throughout the pandemic are suing FM World, saying their insurance coverage insurance policies included protection for losses resulting from “communicable ailments.” Additionally within the information: Humana, Medicare Benefit, worth transparency guidelines and extra.
Universities, Other Institutions Suing Insurers For Not Covering COVID-19 Losses
Because the novel coronavirus pandemic unfold throughout the nation final 12 months, Rockhurst College in Kansas Metropolis confronted an unprecedented monetary disaster. With college students abruptly being despatched house and main faculty occasions canceled, the virus halted the main income stream that stored the college afloat. After the college refunded greater than $2 million in room and board bills for final 12 months’s spring semester, the varsity continued to undergo vital monetary losses and added bills associated to the virus. (Romero, 4/27)
Humana Pays $5.7 Billion For Remaining Share Of Kindred At Home, Could Take Business Public
Humana pays $5.7 billion to purchase the remaining shares of Kindred at House, bringing its whole funding within the nation’s largest house care and hospice supplier to $8.1 billion. Whereas the proposed acquisition covers the totality of Kindred’s enterprise, Humana finally plans to combine simply the house well being aspect into its House Options enterprise line, with the purpose that it’ll finally present care to these insured exterior Humana, and be rebranded to CenterWell House Well being, taking up the title of Humana’s recently-launched healthcare companies firm. (Tepper, 4/27)
Inpatient Pay Rule Would Give Hospitals $2.5 Billion Boost
CMS on Tuesday proposed eliminating its plan for suppliers to reveal their contract phrases with Medicare Benefit insurers, certainly one of a slew of excessive ticket modifications in its Hospital Inpatient Potential Cost System rule. Within the proposed rule, CMS stated hospitals would not be anticipated to report the median payer-specific negotiated cost with MA insurers on its Medicare price experiences retroactive to Jan. 1, 2021. The change would remove greater than 63,000 burden hours for suppliers. Hospitals have lengthy challenged the company’s makes an attempt to impose worth transparency necessities, sustaining they would not assist customers or decrease healthcare prices. (Brady, 4/27)
Georgia Health News:
How Are Hospitals Dealing With Price Transparency Rule?
Jan. 1 marked the launch of a federal rule on medical costs that the hospital business fought onerous to cease. For the primary time, every hospital was required to publish a web site file exhibiting the cost charges it had negotiated with insurers, and one other put up that will let customers seek for tons of of “shoppable’’ medical companies. The Trump administration rule drew a lawsuit from the American Hospital Affiliation, a swimsuit that was rejected by a federal appeals courtroom. (Miller, 4/27)
Watch: What Happens When Car And Health Insurance Collide
“CBS This Morning,” in collaboration with KHN and NPR, tells the story of Mark Gottlieb, a advertising guide in Little Ferry, New Jersey, who confronted greater than $700,000 in medical payments after surgical procedure on his backbone. Gottlieb was injured in a automotive accident, and, regardless of having the utmost quantity of private damage safety in his automotive insurance coverage coverage, his medical payments exceeded it. His medical health insurance couldn’t assist a lot, as a result of his surgeon was out-of-network. In an interview with Anthony Mason of CBS, KHN Editor-in-Chief Dr. Elisabeth Rosenthal describes a few of the pitfalls accident victims can attempt to keep away from as they search care. (4/27)
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