Moody’s just downgraded the health insurance industry

From the Washington Post

Stephen Zaharuk is a Moody’s senior vice president who covers the health insurance industry. That makes him the guy who authored the report downgrading the credit outlook for health insurance companies from “stable” to “negative” on Thursday. We spoke Thursday afternoon about his outlook for the health-care industry, the big unknowns looming in 2014, and why the downgrade happened now. Some of his quotes made it into this story in Friday’s paper and what follows is a transcript of our discussion, lightly edited for clarity.
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AIDS advocates say drug coverage in some marketplace plans is inadequate

From the Washington Post – The nation’s new health-care law says insurers can’t turn anyone away, even people who are sick. But some companies, patient advocates say, have found a way to discourage the chronically ill from enrolling in their plans: offer drug coverage too skimpy for those with expensive conditions. Some plans sold on […]

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Thousands of Doctors Dropped by Insurer After Obamacare Funding Cuts

From Newsmax – UnitedHealth Group has dropped thousands of doctors from its networks in recent weeks, leaving many elderly patients unsure whether they need to switch plans to continue seeing their doctors, the Wall Street Journal reported Saturday. The insurer said in October that underfunding of Medicare Advantage plans for the elderly could not be […]

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Another Health Insurer Caught Falsely Cancelling Thousands of Health Plans

From Daily Kos – Following the report that Insurer Humana was fined $65,000 in Kentucky for sending out 6,500 misleading cancellation letters for low-premiums plans only to be automatic re-enrollment in high cost plans before these customers were given a chance to shop on the open exchange for a better and cheaper plan – we […]

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How Insurers Are Hiding Obamacare Benefits From Customers

From Talking Points Memo – Donna received the letter canceling her insurance plan on Sept. 16. Her insurance company, LifeWise of Washington, told her that they’d identified a new plan for her. If she did nothing, she’d be covered. A 56-year-old Seattle resident with a 57-year-old husband and 15-year-old daughter, Donna had been looking forward […]

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Proposal Challenges TIAA-CREF on For-Profit Health Insurance

By Robert Kropp for Social Funds – Advocacy groups urge the pension fund to divest its holdings in private health insurance companies, arguing that the industry has a well-documented history of unethical behavior and abuses. Should sustainable institutional investors hold the stocks of private health insurance companies in their portfolios? It’s a question that advocates […]

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TIAA-CREF shareholders meeting hears call to divest from ‘unethical’ private health insurers

Shareholder’s comments provoke response from company’s president CHARLOTTE, N.C. – Having suffered an earlier rejection by the leadership of TIAA-CREF of a shareholders resolution calling on the huge, nonprofit investment company to divest its funds from private health insurance firms because of the latter’s “unethical behavior,” a spokesperson for the divestment group took the microphone […]

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Demonstration at TIAA-CREF Shareholder Meeting in Charlotte, NC

Mark your calendar for Tuesday, July 16th, 2013. All are welcome to join us demonstrating at the TIAA CREF shareholder meeting in Charlotte, NC (8500 Andrew Carnegie Blvd) at 1pm. We will be distributing this leaflet (.doc). You can download the rejected shareholder resolution (.doc) that we submitted as well. The leaflet reads: CREF “SOCIAL […]

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DIVESTMENT CAMPAIGN FOR HEALTH CARE investigates holdings by TIAA-CREF and urges divestment from health insurance companies

By Sandra Fox Healthcare-NOW, the national grassroots organization for single-payer healthcare, together with Physicians for a National Health Program, began a committee in 2010 to look at divestment from for-profit health insurance companies. We called ourselves the Divestment Campaign for Health Care. As a member of the committee and a participant in TIAA-CREF funds, the […]

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Health Care Workers, Patients Lead Fight for Divestment from Corrupt Private Health Insurance Industry: Presbyterian Church and TIAA-CREF Hear Their Call

By Katie Robbins In the midst of a fierce debate on the national level around the Supreme Court’s decision to uphold the Affordable Care Act, the Divestment Campaign for Health Care made its official debut. Its stated mission: “to expose how the health insurance industry puts the need for profit above the needs of patients […]

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