Breaking the Tragedy of the Horizon – climate change and financial stability: Bank of England Governor Mark Carney warns investors face 'huge' climate change losses - "The Financial Stability Board, an international body monitoring the global financial system that Mr Carney chairs, may recommend G20 countries make it easier for investors to compare the 'carbon intensity' of different assets." [more inside]
Even clowns need insurance. Sadly, they do not appear to call it "clownsurance."
Imagine you could invest in the stock market last week, with perfect knowledge of how it will move this week. 25 year old Frenchman Max-Hervé George does not need a Delorean, he is the beneficiary of a very unusual 8000 euro life insurance policy that lets him do just that. He could be a billionaire by the end of this decade and, by the end of the next, his contract would be worth more than the insurance company which stands behind it, Aviva France.
It’s 2015—when we feel sick, fear disease, or have questions about our health, we turn first to the internet. According to the Pew Internet Project, 72 percent of US internet users look up health-related information online. But an astonishing number of the pages we visit to learn about private health concerns—confidentially, we assume—are tracking our queries, sending the sensitive data to third party corporations, even shipping the information directly to the same brokers who monitor our credit scores.
It's easy to break a patient like Rogelio—Mexican and poor and chronically ill—down to his potassium level and to make medical decisions according to a number. But that's only part of the story of how the undocumented ill are cared for here in Houston. Within this city's history—a history that includes segregation during the 1960s, a large immigrant population, strong economic growth over the past half century, not to mention the world's largest medical center—is the story of how Houston sought local solutions to provide compassionate care to its indigent and undocumented, the latter of which, some might say, have helped the city grow.Dr. Ricardo Nuila reports from the emergency room at Houston's Ben Taub Hospital, where Harris County's undocumented ill can avail themselves of some of the country's best health care: Taking Care of Our Own. [more inside]
"'It really speaks to the lack of access to health insurance that's particularly predominant within the Latino community,' says Sarah de Guia, executive director of the California Pan-Ethnic Health Network, an advocacy group. Latinos make up 62 percent of the uninsured, she says, either because they can't afford to pay for health insurance, or because they're afraid that signing up for coverage will expose family members who aren't lawfully present in the U.S." California Whooping Cough Infections Run High Among Latino Babies, NPR. [more inside]
"Defensive patent aggregator" RPX have a new line of business: selling patent troll insurance to startups.
The New York Times reports on a new way medical professionals are gaming the system (to the tune of $2.8T a year) - by making end runs around cost controls through out of network consultation calls.
The nightclub insurer promised to fight for its clients — its promotional material shows a man socked in the face with a boxing glove. But founder Jeffrey B. Cohen fights everything. He went after competitors, clients, former employees and even neighbors, filing dozens of lawsuits around the country. The Reisterstown man once sought a restraining order to keep a rival company from attending an adult industry convention.
We've looked before at the trend of tear jerking commercials in Thailand. They are still at it, with this, and this, and this, and--oh God--this.
The Economic Risks of Climate Change in the United States (PDF); prospectus (PDF); press coverage (YT) - "The signature effects of human-induced climate change—rising seas, increased damage from storm surge, more frequent bouts of extreme heat—all have specific, measurable impacts on our nation's current assets and ongoing economic activity. [The report] uses a standard risk-assessment approach to determine the range of potential consequences for each region of the U.S.—as well as for selected sectors of the economy—if we continue on our current path..." [more inside]
How the U.S. Health Care System Compares Internationally - "The United States health care system is the most expensive in the world, but this report and prior editions consistently show the U.S. underperforms relative to other countries on most dimensions of performance. Among the 11 nations studied in this report—Australia, Canada, France, Germany, the Netherlands, New Zealand, Norway, Sweden, Switzerland, the United Kingdom, and the United States—the U.S. ranks last, as it did in the 2010, 2007, 2006, and 2004 editions of Mirror, Mirror. Most troubling, the U.S. fails to achieve better health outcomes than the other countries, and as shown in the earlier editions, the U.S. is last or near last on dimensions of access, efficiency, and equity." [full report (pdf)] [more inside]
The more the Internet of Things knows about you, the more that insurance companies are able to slurp that data and incentivize you to walk the straight and narrow. [more inside]
The furious to-do about Obamacare has obscured a basic fact about modern Americans: most of us, certainly the middle class, are sheltered by a complex web of insurance. Some insurance coverage is privately provided, such as life, accident, fire, flood, travel, liability, burial, and consumer product insurance. And some is government-provided or -required: Social Security, Medicare, unemployment, bank deposit, car, health, mortgage, food, crop, disaster insurance, and so on. All of these, without which American middle-class life as we know it would not be recognizable, are relatively recent developments.[more inside]
Six years ago, PBS's feature documentary program, Frontline, aired Sick Around the World, a documentary examining health care systems around the world -- and specifically how all those featured were generally superior to the American system. (2008 MeFi post) Today, the American Senate subcommittee on primary health and aging brought the debate over single-payer care to Washington. C-SPAN has a fine video of the hearing, which features seven witness representing health care systems and think tanks from around the US and the world. [more inside]
Inside the Nightmare Launch of HealthCare.Gov - "Unknown to a nation following the fiasco, McDonough's assignment from the President had boiled down to something more dire than how to fix the site. As the chief of staff remembers his mission, it was 'Can it be patched and improved to work, or does it need to be scrapped to start over? He wanted to know if this thing is salvageable.' Yes, on Oct. 17, the President was thinking of scrapping the whole thing and starting over." (previously) [more inside]
As a result of new coverage under the ACA, many previously uninsured people in eastern Kentucky are giving the nation a glimpse of life under the new health care law.
"Obamacare horror stories" where innocent citizens are losing their insurance and being forced to pay astronomical costs for new plans on the exchanges are being reported by some media outlets. The problem is that most of these stories don't survive further scrutiny. [more inside]
Yesterday, the Supreme Court announced that it will hear two challenges to the Affordable Care Act's mandate that women's contraception must be covered. The cases, Sebelius v. Hobby Lobby Stores, Inc. and Conestoga Wood Specialties Corp. v. Sebelius, ask the Court to focus on whether the pregnancy-related care coverage can be enforced against profit-making companies — or their individual owners — when the coverage contradicts privately held religious beliefs. [more inside]
John Hodgman posted about the ACA, which led his followers to tweet him about the various health problems they had encountered and the effect insurance or a lack thereof had to their lives. Hodgman retweeted many of the stories from people in their 20's and then posted 17 reasons for young people to get insured to his blog.
Happy Political Clusterf*ck Day (U.S.)! In one corner: the first federal government shutdown since 1996, born of the House GOP/Tea Party faction's crusade to delay, defund, and destroy Obamacare (and the Democratic Senate and President's resolve to not do that). "Continuing resolutions" have ping-ponged between the two houses, fighting over language to cancel healthcare reform (plus a few other items, such as the implementation of Mitt Romney's entire economic agenda). National parks are closed, contractors are hamstrung, and 800,000 federal workers furloughed until Speaker Boehner drops the "Hastert Rule" and passes a bill the other branches can agree to. In the other corner, heedless of the chaos (though not without glitches of its own): the official rollout of the Affordable Care Act and its state insurance exchanges. The portal at Healthcare.gov is your one-stop shop for browsing, comparing, and purchasing standardized, regulated insurance coverage with premium rebates, guaranteed coverage, and expanded Medicaid for the poor (in some states). A crazy day, overall -- but peanuts compared to what might happen if the debt ceiling is breached in 16 days. [more inside]
- “It is strange, in my opinion, that the insurance market has evolved so, that so few individuals understand the fundamentals of the medical insurance plans they are insured under."
- Among the 19% polled who are uninsured, nearly four in 10 don't realize the law requires them to get health insurance next year. Among young people, whose participation is seen as crucial for the exchanges to work, just 56% realize there's a mandate to be insured or face a fine.
- Health policy is an extremely personal and complicated topic... Observing historical patterns of attempted healthcare reform and backlash towards these reforms, we may begin to understand what is keeping such a prominent and promising nation from enlisting a social contract of health.
Fantasy football is back, and this year brings with it the rise of Fantasy Football Insurance. Marketplace explains. [more inside]
How to Charge $546 for Six Liters of Saltwater - a brief story of the humble bag of saline solution given intravenously at ERs and hospitals, and how one unit of it can be marked up from 86 cents to $91 when given to patients
John Green: "Why Are Americans Health Care Costs So High?" A quick, handy little overview of common misconceptions on the US healthcare system. (SLYT)
"We condition the poor and the working class to go to war. We promise them honor, status, glory, and adventure. We promise boys they will become men. We hold these promises up against the dead-end jobs of small-town life, the financial dislocations, credit card debt, bad marriages, lack of health insurance, and dread of unemployment. The military is the call of the Sirens, the enticement that has for generations seduced young Americans working in fast food restaurants or behind the counters of Walmarts to fight and die for war profiteers and elites."-- War is Betrayal. Persistent Myths of Combat, an essay by Chris Hedges of Truthdig. Responses within. [more inside]
The New York Times is reporting that state health insurance regulators have approved 2014 prices for individual health insurance (SLNYT) in New York State that are on average 50% lower than 2013 rates. [more inside]
"The country has cheaper medical care, smarter children, happier moms, better working conditions, less-anxious unemployed people, and lower student loan rates than we do. And that probably will never change." In The Atlantic, a comparison of some of the socio-economic aspects of Finland and the USA. [more inside]
Rising Demand for Long-Term Services and Supports for Elderly People (pdf, 574 kb) - "By 2050, one-fifth of the total U.S. population will be elderly (that is, 65 or older), up from 12 percent in 2000 and 8 percent in 1950. The number of people age 85 or older will grow the fastest over the next few decades, constituting 4 percent of the population by 2050, or 10 times its share in 1950. That growth in the elderly population will bring a corresponding surge in the number of elderly people with functional and cognitive limitations."
"By century's end, rising sea levels will turn the nation's urban fantasyland into an American Atlantis. But long before the city is completely underwater, chaos will begin (1Page) [more inside]
In Korea, Changes in Society and Family Dynamics Drive Rise in Elderly Suicides - "The epidemic is the counterpoint to the nation's runaway economic success, which has worn away at the Confucian social contract that formed the bedrock of Korean culture for centuries." [more inside]
“Compliance with treatment is a sketchy thing to begin with,” said Sam Muszynski, director of the office of health care systems and financing for the American Psychiatric Association. He fears that financial fallout may force some providers to disrupt care, leaving mentally unstable patients on their own temporarily -- or longer. “All it takes is one missed appointment,” he added. Changes instituted on January 1 to insurance claims codes have glitched the system by which mental health professionals get paid - prompting fear that many will have to stop providing care. More information on the changes to the codes.
Get Your Shit Together helps you do what it says on the tin. After her husband died in a 2009 bike accident, Chanel Reynolds created the site as a step-by-step toolkit to help keep track of important life documents and tasks. Four days after its launch, the New York Times got in on the action. [more inside]
Three excerpts from David Goldhill's new book on American health care:
Part One: Focus on Health-Care Costs Causes More Spending
Part Two: Obamacare Math Doesn't Add Up to a Healthier U.S.
Part Three: To Fix Health Care, Turn Patients Into Customers [more inside]
Part One: Focus on Health-Care Costs Causes More Spending
Part Two: Obamacare Math Doesn't Add Up to a Healthier U.S.
Part Three: To Fix Health Care, Turn Patients Into Customers [more inside]
T. Boone Pickens and other wealthy, elderly Oklahoma State alums decided to participate in a scheme named "Call of a Lifetime", where they would allow the university to take out $10 million life insurance policies on them. What could go wrong?
Knocked Over: On Biology, Magical Thinking and Choice “Spare me the self-help bullshit,” I snarled at my sister while I sat, snot-nosed and gasping, behind a gas station off I-88 on my way home from Iowa. “Life isn’t Eat, Pray, Love. If you try to turn this into a teachable moment I will fucking scream.”
My Sister Paid Progressive Insurance to Defend Her Killer In Court: After a Baltimore car accident between an insured and an underinsured driver left the insured driver dead, Progressive Insurance took up the defense of the underinsured driver against their own policy-holder. [more inside]
In less than an hour, the Supreme Court will hand down its final judgment in what has become one of the most crucial legal battles of our time: the constitutionality of President Obama's landmark health care reform law. The product of a strict party line vote following a
year century of debate, disinformation, and tense legislative wrangling, the Affordable Care Act would (among other popular reforms) require all Americans to buy insurance coverage by 2014, broadening the risk pool for the benefit of those with pre-existing conditions.
The fate of this "individual mandate," bitterly opposed by Republicans despite its similarity to past plans touted by conservatives (including presidential contender Mitt Romney) is the central question facing the justices today. If the conservative majority takes the dramatic step of striking down the mandate, the law will be toothless, and in danger of wholesale reversal, rendering millions uninsured, dealing a crippling blow to the president's re-election hopes, and possibly endangering the federal regulatory state.
But despite the pessimism of bettors, some believe the Court will demur, wary of damaging its already-fragile reputation with another partisan 5-4 decision. But those who know don't talk, and those who talk don't know. Watch the SCOTUSblog liveblog for updates, Q&A, and analysis as the truth finally comes out shortly after 10 a.m. EST.
Since she is not truly an emergency patient, she is triaged to the back of the line, and other folks, those in immediate distress, get in for treatment ahead of her. She waits on a gurney in a cavernous green hallway. The “chief complaint” on her chart at Grady Memorial Hospital, in Downtown Atlanta, might have set off a wave of nausea in a hospital at a white suburb or almost any place in the civilized world. It reads, “My breast has fallen off. Can you reattach it?” (via Boing Boing) [more inside]
Kevin Zelnio is a science writer with a degree in marine biology. He is the father of two children. And, like many in this country, he has no insurance. Earlier this week, his 6 year-old developed pneumonia.This is his account of what happened.
Dog Poop Insurance is a product that would potentially be available for a single-premium at the time of purchasing your new shoes.
In 1933, Anthony Marino, Joe Murphy, Frank Pasqua and Dan Kriesberg decided to make money by taking out life insurance on drunks and then letting the victims drink themselves to death. Then they encountered Mike Malloy...
Worried about paying for shotgun shells and chainsaw lubricant when the zombies eventually come? Zombie Apocolypse Insurance Company, LLC (ZAICO) has you covered. [more inside]
There's some fascinating engraving and illustration to be seen at the Museum of Insurance. (Better than watching paint dry. Seriously)
"Reinsurance" is what you do when you want to invest several billion dollars all at once. The top 25 reinsurers in the US together wrote about $27 billion in premium in 2010. Reinsurers are constantly looking for ways to manage their exposure to risk, particularly after Sept. 11, 2001 and Hurricane Katrina. [more inside]
Silence of Love from Thai Life Insurance. An advertisement designed to break your heart. And it does. (Possible triggers, via The Browser) [more inside]
Effective January 1, 2013, United States insurers will now be required to make a variety of medical procedures and medications available without copay as part of President Barack Obama's Affordable Care Act. Although the availability of prescribed birth control without copay is likely to have the widest effect, the plan also includes breast pumps for nursing mothers, an annual well-woman examination, and testing for gestational diabetes and the virus that causes cervical cancer, as well as other services related to women's health. [more inside]
Bank of America has allegedly engaged in mortgage fraud, according to an Anonymous website. The first batch of leaked emails appear to show that bank employees were trying to hide documents from regulators. The emails are put into context on the website Seeking Alpha which explains that they refer to the use of force-placed insurance to increase mortgage servicers' profits through kickbacks from insurers - a practice which has just been forbidden under a settlement imposed by the US' states attorneys general. [more inside]