How Will the Patient Protection and Affordable Care Act Affect Liability Insurance Costs? PDF Download
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Author: David I. Auerbach
Publisher: Rand Corporation
ISBN: 0833086219
Category : Medical
Languages : en
Pages : 118
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Book Description
This report identifies potential mechanisms through which the Affordable Care Act (ACA) might affect liability claim costs and develops rough estimates of the size and direction of expected impacts as of 2016. Overall, effects of the ACA appear likely to be small relative to aggregate auto, workers’ compensation, and medical malpractice insurer payouts, but some states and insurance lines may experience cost changes as high as 5 percent or more.
Author: David I. Auerbach
Publisher: Rand Corporation
ISBN: 0833086219
Category : Medical
Languages : en
Pages : 118
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Book Description
This report identifies potential mechanisms through which the Affordable Care Act (ACA) might affect liability claim costs and develops rough estimates of the size and direction of expected impacts as of 2016. Overall, effects of the ACA appear likely to be small relative to aggregate auto, workers’ compensation, and medical malpractice insurer payouts, but some states and insurance lines may experience cost changes as high as 5 percent or more.
Author: Jingshu Luo
Publisher:
ISBN:
Category :
Languages : en
Pages : 135
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Book Description
This dissertation studies the impact of Medicaid expansion on the liability insurance industry. Within the three chapters, the first two chapters focus on the medical liability insurance industry, and the third chapter focuses on the auto insurance industry. Chapter 1, "Medicaid Expansion and Medical Liability Costs", examines the impact of health insurance expansion on medical liability costs using the case of the Affordable Care Act's (ACA) Medicaid expansion. Medicaid expansion has increased the demand for medical services, but in doing so it may also have increased physicians' liability in medical practice. By studying malpractice costs to insurers, medical practitioners, and hospitals in the U.S. for the period 2010-2018, we find insurers operating in states with Medicaid expansion experienced significantly higher medical liability costs than those in non-expansion states. While insurers in expansion states did increase premiums, the increase was not enough to fully offset rising costs. Moreover, we find that tort reforms did not mitigate ACA-induced malpractice liability costs. We show this is because Medicaid expansion increased malpractice costs mainly by increasing claim frequency while tort reforms generally focus on reducing claim severity. We further find little evidence that hospitals paid higher malpractice insurance premiums, self-insurance, or incurred higher out-of-pocket medical liability losses after Medicaid expansion. Taken together, our results imply that it is medical practitioners and malpractice insurers who bear the rising medical liability costs. Chapter 2, "Medicaid Expansion and Medical Liability Insurance Prices" extends the first chapter to study the impact of Medicaid expansion on medical liability insurance prices for three specialties, internal medicine, general surgery, and obstetrics-gynecology (OB-GYN). As Medicaid expansion increased medical liability costs to insurers, they may react by increasing medical malpractice insurance prices. By studying counties in expansion states and non-expansion states and bordering counties with different Medicaid expansion status over the years from 2010-2018, we find that Medicaid expansion leads to significantly higher medical liability insurance prices two years after the expansion on average and the impact is strongest for internal medicine and general medicine but less so for OB-GYN. Our finding suggests that the expansion of health insurance could increase liability costs to medical practitioners. Auto insurance provides coverage of healthcare for injured drivers even for those without traditional health insurance coverage. The expansion of public health insurance provides low-income injured drivers with an additional source of coverage for medical bills. This may change drivers' incentives for using auto insurance and the ultimate payments made by auto insurers. In Chapter 3, "Public Health Insurance Expansion and Auto Insurance: The Case of Medicaid Expansion", we first use a simple theoretical model to illustrate how obtaining public health insurance mitigates the incentive of insured drivers to engage in claims buildup. We then empirically test how the Affordable Care Act (ACA)'s Medicaid expansion changed the medical costs covered by auto insurance. By studying private passenger auto insurers in expansion states and non-expansion states between 2010 and 2018, we find that Medicaid expansion led to significantly lower auto insurance losses and premiums. We further show that the results were driven by the decreasing losses and premiums for third-party liability insurers but not in the states with no-fault insurance.
Author: Tamara Thompson
Publisher: Greenhaven Publishing LLC
ISBN: 0737771496
Category : Young Adult Nonfiction
Languages : en
Pages : 130
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Book Description
The Patient Protection and Affordable Care Act (ACA) was designed to increase health insurance quality and affordability, lower the uninsured rate by expanding insurance coverage, and reduce the costs of healthcare overall. Along with sweeping change came sweeping criticisms and issues. This book explores the pros and cons of the Affordable Care Act, and explains who benefits from the ACA. Readers will learn how the economy is affected by the ACA, and the impact of the ACA rollout.
Author: Institute of Medicine
Publisher: National Academies Press
ISBN: 0309133203
Category : Medical
Languages : en
Pages : 212
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Book Description
Hidden Cost, Value Lost, the fifth of a series of six books on the consequences of uninsurance in the United States, illustrates some of the economic and social losses to the country of maintaining so many people without health insurance. The book explores the potential economic and societal benefits that could be realized if everyone had health insurance on a continuous basis, as people over age 65 currently do with Medicare. Hidden Costs, Value Lost concludes that the estimated benefits across society in health years of life gained by providing the uninsured with the kind and amount of health services that the insured use, are likely greater than the additional social costs of doing so. The potential economic value to be gained in better health outcomes from uninterrupted coverage for all Americans is estimated to be between $65 and $130 billion each year.
Author: Timothy P. Lesiewicz
Publisher:
ISBN:
Category :
Languages : en
Pages : 92
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Book Description
"The signing of the Patient Protection and Afforadable Care Act (PPACA), on March 23, 2010, marked the beginning of a new chapter in U.S. health care policy. The landmark legislation became the most substantial piece of health reform since Medicare, mandating coverage for nearly all Americans, imposing new regulations on insurers to make insurance more affordable, and promising to reduce health care expenditures within the U.S. health care system. Although there are a myriad number of variables that contribute to the escalation of health care costs, my research focuses on the reform's cost-containment measures, and examines whether the measures will actually reduce health care expenditures. I identify three major cost-containment initiatives in the reform act: comparative effectiveness research, health information technology, and preventive measures. I then examine the efficacy of these measures by, first, analyzing the projected reduction in health care spending data as researched and calculated by the Congressional Budget Office, Urban Institute, and Robert Wood Foundation and, second, by comparing the breadth of each initiative to the impact of similar cost containment programs in other countries. Based on this two-fold analysis, I argue that while the PPACA's three cost containment initiatives have proven effective in other countries, their effectiveness in the U.S. is less likely, due largely to the initiatives not being as robust as their foreign counterparts"--Abstract.
Author: American Dental Association
Publisher: American Dental Association
ISBN: 1941807712
Category : Medical
Languages : en
Pages : 60
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Book Description
Section 1557 is the nondiscrimination provision of the Affordable Care Act (ACA). This brief guide explains Section 1557 in more detail and what your practice needs to do to meet the requirements of this federal law. Includes sample notices of nondiscrimination, as well as taglines translated for the top 15 languages by state.
Author: Institute of Medicine
Publisher: National Academies Press
ISBN: 0309083435
Category : Medical
Languages : en
Pages : 213
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Book Description
Many Americans believe that people who lack health insurance somehow get the care they really need. Care Without Coverage examines the real consequences for adults who lack health insurance. The study presents findings in the areas of prevention and screening, cancer, chronic illness, hospital-based care, and general health status. The committee looked at the consequences of being uninsured for people suffering from cancer, diabetes, HIV infection and AIDS, heart and kidney disease, mental illness, traumatic injuries, and heart attacks. It focused on the roughly 30 million-one in seven-working-age Americans without health insurance. This group does not include the population over 65 that is covered by Medicare or the nearly 10 million children who are uninsured in this country. The main findings of the report are that working-age Americans without health insurance are more likely to receive too little medical care and receive it too late; be sicker and die sooner; and receive poorer care when they are in the hospital, even for acute situations like a motor vehicle crash.
Author: David I. Auerbach
Publisher: Rand Corporation
ISBN: 0833086235
Category : Business & Economics
Languages : en
Pages : 75
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Book Description
This report identifies potential mechanisms through which the Affordable Care Act (ACA) might affect liability claim costs and develops rough estimates of the size and direction of expected impacts as of 2016. Overall, effects of the ACA appear likely to be small relative to aggregate auto, workers’ compensation, and medical malpractice insurer payouts, but some states and insurance lines may experience cost changes as high as 5 percent or more.
Author: Kerm Henriksen
Publisher:
ISBN:
Category : Medical
Languages : en
Pages : 526
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Book Description
v. 1. Research findings -- v. 2. Concepts and methodology -- v. 3. Implementation issues -- v. 4. Programs, tools and products.
Author: Mario K Castillo
Publisher: Chelsea Press
ISBN: 9780991638734
Category : Law
Languages : en
Pages : 288
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Book Description
If you are looking for a book about the politics of the Affordable Care Act, this book is not for you. This book delves into the Affordable Care Act's real-world application from the eyes of employers large and small. When the Affordable Care Act went into effect, you could almost trip over the amount of ACA books out there. Now, five years after its passage, several elections, and Supreme Court decisions later, only a few books have been consistently updated to keep up with the changes. Now in it's third edition, The Employer Mandate Handbook, aims at being a comprehensive source for uninitiated and well-versed employers alike. By providing a Q/A primer, chapters that go in-depth on each topic, summaries, a glossary, online slides, and an index, you can learn as much or as little as you like or have time for. The information is also annotated with citations for exploring even further and verifying the information provided for yourself (something very few ACA books do) And by keeping politics and lofty policy discussions out of the content, readers gain a more balanced understanding of the real world tasks ahead. The author works with actual cases on a daily basis and provides the reader with the benefit of that experience in implementing healthcare reform changes from the perspective of many business owners. The Affordable Care Act is not an easy law for business owners to implement, but reading this book will bring them closer to understanding what decisions they need to make in setting up and complying with the employer mandate. It also provides a practical view of the potential penalties, pitfalls, and alternatives at a much more inexpensive cost compared to any other legal handbook on the Affordable Care Act. While the mandate has been delayed, it has not been cancelled. This is not a policy or political book, it is a manual for employers who want to get beyond political agendas and focus on how this new law will affect their bottom line.
