As ACA sign ups start, more Americans have health insurance than ever. Will it last?

By Selena Simmons-Duffin - More than 21 million Americans buy their health insurance through the Affordable Care Act, and open enrollment for next year’s Obamacare plans started Friday, Nov. 1. Read Full Article…

HVBA Article Summary

1. Affordable Premiums and Increased Plan Options: This year's marketplace offers low premiums, with many people paying $10 or less per month, alongside a broader range of plan choices, leading to record-high ACA enrollment. Cynthia Cox from KFF highlights this as a positive shift for the ACA marketplaces.

2. New Eligibility and Enrollment Flexibility: Deferred Action for Childhood Arrivals (DACA) recipients are now eligible for subsidized marketplace plans, with an estimated 100,000 Dreamers expected to enroll. Additionally, low-income individuals can now enroll year-round, not just during the open enrollment period.

3. Potential Impact of Upcoming Election on ACA Subsidies: The future affordability of ACA plans hinges on the next Congress and administration, as additional federal subsidies are set to expire in 2025. The election outcome could either extend these subsidies or alter the trajectory of the ACA marketplaces.

Mississippi legislative leaders advocate Medicaid expansion, heading to conflict with the governor

By Emily Wagster Pettus - Mississippi’s Republican legislative leaders said Thursday that they plan to push for Medicaid expansion to cover working people who earn too little to afford private insurance — a position that business groups have advocated but that Republican Gov. Tate Reeves opposes. Read Full Article…

HVBA Article Summary

1. Medicaid Expansion Debated: Lt. Gov. Delbert Hosemann and House Speaker Jason White emphasized the potential benefits of Medicaid expansion in Mississippi, which could extend health coverage to approximately 75,000 working individuals who currently lack affordable insurance options. However, Governor Tate Reeves has consistently opposed Medicaid expansion, referring to it as "welfare."

2. Economic Arguments for Health Coverage: White and other business groups, including the Mississippi Economic Council, argue that expanding Medicaid aligns with a business-oriented approach by improving workforce health and stability, which can strengthen Mississippi’s communities. These groups support using federal dollars responsibly to improve healthcare access.

3. Tax and Education Reform Proposals: White outlined additional legislative priorities, including phasing out the state income tax, reducing the grocery sales tax, and supporting school choice. Meanwhile, Hosemann shared that the Senate will prioritize a grocery tax reduction but did not include income tax phase-out or school choice in his agenda.

Elevance is Latest to Invest in Home Health with Cartridge Acquisition

By Jay Asser - Elevance Health is committing to growing its home-based care with its newest acquisition. The company’s health services subsidiary, Carelon, is planning to purchase value-based home health company CareBridge, allowing Elevance to join its insurer competitors in the home care space. Read Full Article…

HVBA Article Summary

1. Strategic Acquisition in Home Health: Elevance Health's subsidiary, Carelon, is set to acquire CareBridge, a Nashville-based home health provider specializing in value-based care for chronic and complex conditions. This acquisition aligns Elevance with other insurers like Humana and UnitedHealth Group in expanding home health offerings.

2. Growth and Financial Impact: With Carelon reporting a 15% revenue increase in the third quarter, totaling $13.8 billion, the acquisition of CareBridge will further bolster Carelon's portfolio. The $2.7 billion deal is expected to enhance Carelon's home-based care capabilities and drive future revenue growth.

3. Insurer Trend Toward Home Health Expansion: Following industry trends, Elevance joins UnitedHealth Group and Humana in scaling home health services, especially for Medicare patients. This strategic shift supports the transition to value-based care, aimed at improving patient outcomes and reducing healthcare costs.

US third-quarter labor costs growth smallest in more than three years

By Reuters - U.S. labor costs recorded their smallest increase in more than three years in the third quarter amid cooling wage growth, indicating that inflation was firmly on a downward trend. Read Full Article…

HVBA Article Summary

1. Labor Cost Growth Moderates: The Employment Cost Index (ECI), a key measure of labor costs, rose by 0.8% last quarter—the smallest increase since Q2 2021. This was slightly below economists' expectations of 0.9%, signaling a gradual easing in labor cost growth.

2. Annual Labor Cost Increases Slow: Over the past 12 months, labor costs rose by 3.9%, down from the 4.1% annual increase through June and the 4.3% seen in September 2023. This slowdown in labor cost growth could help temper inflationary pressures, aligning with the Federal Reserve's goal to control inflation.

3. Wages and Benefits Rise Modestly: Wages and salaries, which make up the largest portion of labor costs, grew by 0.8% last quarter, with private sector wages up by 3.8% over the year. Benefits also rose 0.8% last quarter, contributing to a 3.7% increase annually. Slower labor cost growth could provide some relief for employers while supporting consumer spending through modest wage gains.

Heritage Pharmaceuticals and Apotex $49.1M settlement for inflated drug prices

By Emily Cousins - Connecticut Attorney General William Tong announced two cooperation agreements and settlements with Heritage Pharmaceuticals and Apotex Corp., totaling $49.1 million, due to each companies' alleged scheme to inflate drug prices and limit competition. Read Full Article… ^{_{(Subscription required)}}

HVBA Article Summary

1. Multistate Litigation and Settlements: Apotex and Heritage have reached settlement agreements in a major antitrust case involving generic drug price-fixing, agreeing to pay $39.1 million and $10 million, respectively. As part of the settlement, both companies will support ongoing litigation in Connecticut District Court by cooperating with state authorities through witness testimony, document verification, and industry insights.

2. Commitment to Reform and Compliance: In addition to financial settlements, Apotex and Heritage committed to internal reforms designed to foster competition in the generic drug market and ensure compliance with antitrust laws, addressing accusations of price manipulation and competitive barriers that allegedly harmed consumers and public health programs.

3. Background and Scope of the Case: This case is part of a broader legal battle involving 30 corporate defendants and 25 executives, with the focus on three separate antitrust complaints targeting price-fixing of various generic drugs. The first trial, concerning 80 topical generic drugs, is set to begin in Hartford, Connecticut, backed by extensive evidence, including witness accounts, a 20-million-document database, and detailed phone records.

Wegovy reduces all-cause admissions: 3 study findings

By Erica Carbajal - Wegovy may significantly reduce hospital admissions for any cause and overall length of stay, according to a new analysis of data from Novo Nordisk's phase 3 SELECT trial. Read Full Article…

HVBA Article Summary

1. Reduced Hospital Admissions: Patients taking Wegovy experienced lower rates of hospital admissions for any cause compared to those on a placebo, with admissions in 33.4% of Wegovy users versus nearly 37% in the placebo group.

2. Lower Rates of Serious Adverse Events: The likelihood of hospitalization for serious adverse events was also reduced in the Wegovy group (30.3%) compared to the placebo group (33.4%).

3. Shorter Hospital Stays and Fewer Total Admissions: Patients taking Wegovy had a shorter total time in the hospital, with 157.2 days per 100 patient years versus 176.2 days in the placebo group. Total hospitalization rates were lower in the semaglutide group, with 18.3 admissions per 100 patient years compared to 20.4 admissions in the placebo group.

'Cash-for-coverage' health plans could win the elections, exec says

By Allison Bell - One of the winners of [this] week's elections could be individual coverage health reimbursement arrangement plans (ICHRAs). The new generation of employer-sponsored cash-for coverage health plans should emerge with strong bipartisan support in Congress, according to Stacy Edgar, the chief executive officer of Venteur, an ICHRA administrator. Read Full Article… ^{_{(Subscription required)}}

HVBA Article Summary

1. Bipartisan Appeal of ICHRAs: ICHRA plans attract support from lawmakers across the political spectrum. Lawmakers on the right see ICHRAs as a tool to boost competition in the health benefits market, while those on the left view them as a means to support the Affordable Care Act by enabling individuals to purchase coverage through ACA exchanges.

2. Enduring Support Across Administrations: The regulatory framework for ICHRAs, established during the Trump administration, has seen only minor changes under the Biden administration, signaling a steady bipartisan endorsement that has persisted through multiple election cycles.

3. Call for Codification in the Tax Code: To ensure long-term stability, Edgar and other ICHRA advocates are urging Congress to formally add ICHRA provisions to the tax code, which would benefit employers and employees relying on these plans.