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Insurance companies putting profits ahead of patients

World of DTC Marketing

Five of America’s largest health insurers reported more than $11bn in profits in the second quarter – a decline from the same period last year when the Covid-19 pandemic helped drive sky-high profits yet they are having more of a say on patients’ treatments even when HCPs disagree. Then there is prior authorization.

Insurance 225
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PBMs and insurers want your prescription money

World of DTC Marketing

Health insurers have started effectively stealing co-pay coupons, leaving patients on the hook for far higher expenses. Huge Insurance companies continue shifting costs onto patients, with disastrous consequences for individuals’ health and society. The problem is that PBMs are out for themselves and shareholders, not patients.

Insurance 226
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Report: MA Gross Margins Were Double Other Health Insurance Markets’ in 2021

MedCity News

In 2021, Medicare Advantage gross margins averaged $1,730, more than double other insurance markets, the Kaiser Family Foundation report found.

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HCPs sound off on pharma marketing

World of DTC Marketing

We just finished talking to over 200 hundred HCPs about pharma marketing and salespeople to measure any differences since before the pandemic. This was especially true with new drugs that have a significant competitive market. Their biggest complaint is insurance companies’ preapprovals.

Marketing 218
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Is Exiting the Employer Insurance Market a Smart Move for Humana?

MedCity News

Over the next 18 to 24 months, Humana will exit the Employer Group Commercial Medical Products business, which includes fully insured plans, self-funded plans and Federal Employee Health Benefit plans. The decision represents Humana’s move to double-down on its Medicare Advantage business, one expert said.

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Report: Private Insurers Estimated To Pay $1.1B in Rebates in 2023

MedCity News

Individual market insurers are estimated to owe about $500 million in rebates to enrollees this year, a Kaiser Family Foundation analysis found. Small group market insurers are anticipated to owe about $330 million, and large group market insurers are expected to owe about $250 million.

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FDA Commissioner: Insurers Need To Support Studies In Accelerated Drug Approval Pathway

MedCity News

Physicians face a lot of barriers from insurers in completing studies on drugs in the accelerated approval pathway, declared Dr. Robert Califf, commissioner of food and drugs at the Food and Drug Administration. Insurers need to help, he said during the AHIP Medicare, Medicaid, Duals and Commercial Markets Forum.

Insurance 102