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aartimuleict · 4 years

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Wireless Communication Solutions Market Trends, Share, Scope, Research Insights by 2026

Wireless communication is considered as a rapidly expanding segment of the communications industry. Wireless communication is employed as a source of communication that operates wirelessly. Wireless communication solutions improve coverage, clarity, and also optimize production and minimize downtime for reliable communications. Wireless communication solutions multiple users simultaneously, which can increase connectivity from user to user. Technologies such as LTE, LTE-Advanced, WCDMA, HSPA, GSM, CDMA, WLAN, and Bluetooth are part of wireless communication systems. Wireless communication can be utilized for cellular telecommunication, wireless access to the internet, wireless home networking, etc. Cellular wireless network is the technology that is widely used for the wireless communication market. The technology is developed for mobile, radio and telephone to replace high power transmitter/receiver systems. Utilization of mobile and wireless communication systems in order to provide on-demand information and entertainment is anticipated increase in the near future. The significant expansion of wireless systems is expected to have a considerable impact on wireless networks, both as stand-alone as well as for the larger networking infrastructure.

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Some factors that drive the market are demand for wireless communication, increase in mobile subscribers, installations of wireless infrastructure, and expansion of cellular networks. Increase in number of smartphone applications and the rise in demand for increasingly efficient and convenient wireless communications is anticipated to create significant opportunities for phone manufacturers and wireless network operators. Moreover, developments in cloud computing and Internet of Things (IoT) are expected to further fuel the wireless communication solutions market in the near future.. Commercial wireless communication plays a vital role for the military in order to provide extreme levels of security to protect data that may be sensitive to national security, tactical operations, or strategic goals. The information technology and electronics market has been witnessing rapid expansion in the last decade, which in turn has led to the emergence of innovative wireless devices and their supporting technologies. The challenges faced by the market is the scarcity of the wireless spectrum that limits the vision for wireless access. Wireless communication solutions provide weak security at times, in case of any third-party within the scope of coverage of a wireless network can attempt to penetrate the network. Rise in demand for smartphone applications and efficient and convenient wireless communications has generated growth opportunities for phone manufacturers and wireless network operators.

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The market of wireless communication solutions can be segmented based on type, network technology, enterprise size, end-use industry, and region. Based on type, the market can be classified as television and radio broadcasting, satellite communication, mobile telephone communication system, global positioning system (GPS), wireless local area network (WLAN) and infrared communication. In terms of network technology, the wireless communication solutions market can be classified into Wi-Fi, Bluetooth, radio-frequency identification (RFID), Zigbee, Ultra Wideband (UWB), and Worldwide Interoperability for Microwave Access (Wimax). Based on enterprise size, the market can be segregated into small and medium enterprise (SMEs) and large enterprise. Furthermore, in terms of end-use industry, the market can be bifurcated into healthcare, automotive, manufacturing, banking financial services and insurance (BFSI), telecom and information technology, defense, education, and others. Based on region, the wireless communication solutions market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa (MEA), and South America. North America is projected to hold a significant share for the wireless communication solution market, due to the invention of various wireless technologies. For instance, Europe is experiencing the demand for the market due to the adoption rate of technologies.

Key players operating in the wireless communication solutions market include Qualcomm, Inc., Apple, Inc., Verizon Communications, Inc., Motorola Solutions, Inc., Hewlett-Packard Company, Vocera Communications, Inc., Intel Corp., Cisco Systems, Siemens AG, AT&T Inc., Vocera Communications, and Infineon Technologies.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

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#wireless #communication

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dinafbrownil · 5 years

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Colorado Forges Ahead On A New Model For Health Care While Nation Waits

DENVER — With the nation’s capital mired in gridlock and the Affordable Care Act facing a dire legal challenge, the prospects of lowering health care costs for Americans this year seem unlikely.

Just don’t tell that to Coloradans.

Democratic majorities in the state House and Senate and a Democratic governor eager to push aggressive health care measures have turned Colorado into one of the foremost health policy laboratories in the country. State lawmakers have taken swift action on many of the same health issues being debated at the federal level, including a government-run health plan known as a public option, surprise medical billing, drug importation and high drug costs.

Colorado has emerged as a potential model for revamping health care in other states — and provided a glimpse of what a sweeping Democratic victory in November might mean for Americans.

“From a national perspective, this is known as one of the cool places for health care reform, where people are trying new ideas, where there is leadership, where there is community, where there are all the critical elements to get something done,” said Dr. Jay Want, executive director of the Peterson Center for Healthcare, a New York-based health policy think tank.

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Colorado’s push started in earnest when Gov. Jared Polis took office in January 2019 with the promise of helping consumers cut health care costs. He literally created an Office of Saving People Money on Health Care in his first month on the job. What followed was a four-month legislative session in which lawmakers pushed through a decade’s worth of health care bills.

“You can argue it was the most consequential legislative session for health care since Colorado expanded Medicaid much earlier this decade,” said Joe Hanel, director of communications for the Colorado Health Institute, a nonpartisan nonprofit focused on health policy analysis.

Lawmakers passed a reinsurance bill that shielded insurance plans from the costs of their sickest patients, resulting in a 20% drop in 2020 premiums for Coloradans who buy their coverage on the individual market, not through their employers.

Surprise billing protections, which took effect Jan. 1, cap what out-of-network doctors or other medical providers can charge when patients receive services in hospitals that are not part of their insurance network. The new provision establishes an arbitration process for ongoing billing disputes.

Legislators capped copays for insulin at $100 per month and approved the importation of drugs from Canada, once federal authorities establish the process for doing so.

And the legislature authorized the Polis administration to develop a public option proposal that would provide competition to private insurance carriers selling plans on the individual market.

Hanel said state officials have taken an aggressive approach to reining in health care costs.

“They’ve really transformed their agencies in a short year or so,” he said.

For example, Colorado Insurance Commissioner Michael Conway has shifted the Division of Insurance from mainly an actuarial agency reviewing rate filings into more of an advocate for consumers. The division is developing a standard for insurance that would consider whether premiums are affordable when approving insurance rates.

A Public Option

This year, the legislature will decide whether to implement the public option plan developed by the Polis administration.

While many thought that plan would create a government-run alternative to private insurance similar to a Medicare plan open to anyone, the final draft retains a role for insurance companies in administering public option plans.

The plan would also benchmark hospital payment rates to a percentage above what Medicare pays, developing a formula to adjust those rates for each hospital. A small rural hospital would be paid differently from a large urban hospital, while independent hospitals would be paid differently from chain hospitals.

Insurance carriers would be limited to using no more than 15% of total premiums collected for administrative costs and profits, which is lower than the Affordable Care Act cap. They would also be required to use any rebates from drug companies to reduce patients’ premiums. The state is asking legislators for the authority to force hospitals and health plans to participate if they won’t do so voluntarily.

“What Colorado is doing is very innovative. There is really only one other state, Washington state, that is doing anything comparable to a public option,” said Billy Wynne, a Washington, D.C.-based health policy consultant who recently formed the Public Option Institute. “Other states have been looking at it and will pursue similar programs in the future, especially if [Colorado] can pull off the ‘triple lindy’ and make this successful.”

Industry Pushback

Hospital representatives have expressed skepticism about the public option plan, which they see as mainly targeting hospitals to achieve savings.

“The rate-setting as it is currently proposed is a 40% hit to some hospitals,” said Katherine Mulready, senior vice president and chief strategy officer of the Colorado Hospital Association, which represents more than 100 hospitals. Hospitals and other providers, she said, may not be able to maintain the same level of services and access now available.

But state officials point to recent studies suggesting prices at Colorado hospitals are among the most expensive in the country: A Rand Corp. study found that Colorado hospitals charge three to four times the Medicare rate, and an analysis of the Denver market showed the area’s 27 hospitals netted a combined $2 billion in pretax profits in 2018, with average profit margins exceeding 19%.

Hospitals say they must charge higher rates to privately insured patients to make up for the shortfall from Medicare, Medicaid and uninsured patients. But the state released a report in January showing that even when Medicaid rates went up and the need for charity care went down, hospitals still raised their prices.

“We’re getting close to the mark because some of the hospitals and pharmaceutical companies sent out a mailer against the public option,” Polis said in a Jan. 14 public forum on the proposal. “We must be getting something right if they’re that worried about it. But it also adds insult to injury for those of us who are consumers of medical services … to know they’re using some of that money from overcharging to lobby against reforms that are saving people money. That is rubbing salt in the wounds.”

Insurers are also wary of the plan.

“We are very concerned — and I would say opposed — that the government will tell us the product, the price and the place that we have to sell,” said Amanda Massey, executive director of the Colorado Association of Health Plans. “That is fundamentally opposed to private business and competition.”

The Colorado Medical Society, which represents physicians, issued a statement generally supporting the goals of the public option plan but didn’t go so far as to endorse it.

Blueprint For The Nation?

The public option would initially be available only to those consumers who buy policies on the individual market in 2022, estimated to be fewer than 7% of the state’s population. State officials said that they plan to later expand to the small-group market and that they expect the lower prices will put pressure on rates for large-group employer-sponsored plans as well.

The proposal, while not as disruptive as a “Medicare for All” or single-payer approach, represents a step toward government-run health care.

“What the state is doing is intervening, to some degree, in commercial negotiations between plans and hospitals,” Wynne said. “Let’s be honest: The state will be leaning on hospitals on their participation and reimbursement rate, and that is a tremendous benefit to health plans.”

Colorado’s approach could provide a blueprint for any moderate Democratic presidential candidates promoting a public option on the national level, much in the way Massachusetts provided the basic framework for the Affordable Care Act.

“Colorado is doing it and is ahead of the curve,” Wynne said. “If one of those people wins, they’re going to be looking to this state as a model for what to try to help other states do.”

Locally, Democrats also are betting that by addressing what Coloradans have identified as their highest priority — reducing the cost of health care — they’ll be well positioned to build on their state majority in the 2020 elections.

“I haven’t met a single voter,” Polis quipped recently, “who said, ‘I don’t pay enough for my health care.’”

from Updates By Dina https://khn.org/news/colorado-health-care-reform-state-model-national-blueprint/

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stephenmccull · 5 years

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Colorado Forges Ahead On A New Model For Health Care While Nation Waits

DENVER — With the nation’s capital mired in gridlock and the Affordable Care Act facing a dire legal challenge, the prospects of lowering health care costs for Americans this year seem unlikely.

Just don’t tell that to Coloradans.

Colorado has emerged as a potential model for revamping health care in other states — and provided a glimpse of what a sweeping Democratic victory in November might mean for Americans.

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Subscribe to KHN’s free Morning Briefing.

Please confirm your email address below:

Full Speed Ahead

Legislators capped copays for insulin at $100 per month and approved the importation of drugs from Canada, once federal authorities establish the process for doing so.

And the legislature authorized the Polis administration to develop a public option proposal that would provide competition to private insurance carriers selling plans on the individual market.

Hanel said state officials have taken an aggressive approach to reining in health care costs.

“They’ve really transformed their agencies in a short year or so,” he said.

A Public Option

This year, the legislature will decide whether to implement the public option plan developed by the Polis administration.

Industry Pushback

Hospital representatives have expressed skepticism about the public option plan, which they see as mainly targeting hospitals to achieve savings.

Insurers are also wary of the plan.

The Colorado Medical Society, which represents physicians, issued a statement generally supporting the goals of the public option plan but didn’t go so far as to endorse it.

Blueprint For The Nation?

The proposal, while not as disruptive as a “Medicare for All” or single-payer approach, represents a step toward government-run health care.

“Colorado is doing it and is ahead of the curve,” Wynne said. “If one of those people wins, they’re going to be looking to this state as a model for what to try to help other states do.”

“I haven’t met a single voter,” Polis quipped recently, “who said, ‘I don’t pay enough for my health care.’”

Colorado Forges Ahead On A New Model For Health Care While Nation Waits published first on https://smartdrinkingweb.weebly.com/

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gordonwilliamsweb · 5 years

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Colorado Forges Ahead On A New Model For Health Care While Nation Waits

DENVER — With the nation’s capital mired in gridlock and the Affordable Care Act facing a dire legal challenge, the prospects of lowering health care costs for Americans this year seem unlikely.

Just don’t tell that to Coloradans.

Colorado has emerged as a potential model for revamping health care in other states — and provided a glimpse of what a sweeping Democratic victory in November might mean for Americans.

Email Sign-Up

Subscribe to KHN’s free Morning Briefing.

Please confirm your email address below:

Full Speed Ahead

Legislators capped copays for insulin at $100 per month and approved the importation of drugs from Canada, once federal authorities establish the process for doing so.

And the legislature authorized the Polis administration to develop a public option proposal that would provide competition to private insurance carriers selling plans on the individual market.

Hanel said state officials have taken an aggressive approach to reining in health care costs.

“They’ve really transformed their agencies in a short year or so,” he said.

A Public Option

This year, the legislature will decide whether to implement the public option plan developed by the Polis administration.

Industry Pushback

Hospital representatives have expressed skepticism about the public option plan, which they see as mainly targeting hospitals to achieve savings.

Insurers are also wary of the plan.

The Colorado Medical Society, which represents physicians, issued a statement generally supporting the goals of the public option plan but didn’t go so far as to endorse it.

Blueprint For The Nation?

The proposal, while not as disruptive as a “Medicare for All” or single-payer approach, represents a step toward government-run health care.

“Colorado is doing it and is ahead of the curve,” Wynne said. “If one of those people wins, they’re going to be looking to this state as a model for what to try to help other states do.”

“I haven’t met a single voter,” Polis quipped recently, “who said, ‘I don’t pay enough for my health care.’”

Colorado Forges Ahead On A New Model For Health Care While Nation Waits published first on https://nootropicspowdersupplier.tumblr.com/

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marketresearchandsurvey · 6 years

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Governance Risk and Compliance (GRC) Services Market: Evolving Technology, Trends and Industry Analysis

Governance Risk and Compliance (GRC) can be defined as a collective term which accounts for an organization’s approach towards Governance, risk management, and compliance. GRC is a platform that aims to coordinate information and processes through governance, risk management and compliance so as to function in a more efficient manner, coupled with effective data sharing which helps avoid wasteful overlaps.

The major factors driving the growth of Governance Risk and Compliance Services market across all regions is increasing need among organizations to enhance their operational activities by ensuring optimal resource usage and to streamline business processes and the increasing need for solving operations related issues quickly. However, fluctuating regulatory policies and lack of awareness within organization are some of the factors acting as restraints for Governance Risk and Compliance (GRC) Services market, and are anticipated to adversely affect the growth of the market in the years from 2015 – 2017.

The Governance Risk and Compliance (GRC) Services market can be classified on the basis of solutions, deployment type, end user, industry vertical and geography. On the basis of solutions, the Governance Risk and Compliance (GRC) Services market is divided into audit management, risk management, policy management, compliance managementand others. On the basis of deploymenttype the Governance Risk and Compliance (GRC) Services market is bifurcated intoon premise andcloud based. Most of the companies are shifting towards deployment automation on cloud platforms as it is more convenient andcost effective. On the basis of end-user, the overall market has been divided intosmall enterprise, medium enterpriseand large enterprise.

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On the basis of industry verticals the Governance Risk and Compliance (GRC) Services market has been classified into Banking, Financial Services, and Insurance, Construction and Engineering, Energy and Utility, Government, Healthcare, Manufacturing, Mining and Natural Resources, Retail and Consumer Goods, Telecom and IT, Transportation and Logistics and Others. Out of these sectors the financial services sectors holds the largest market share of the Governance Risk and Compliance (GRC) Services market and is expected to do so in the forecast period. This is due to the increasing number of data being generated in the financial services sectors which includes banks, insurance and reinsurance companies, etc.

Onregional basis, the Governance Risk and Compliance (GRC) Services market has been divided into North America, Europe, Asia Pacific, Middle Eastand Africa and Latin America. North America accounted for the largest share of the overall market, followed by Europe in 2016. Both these regions are expected to retain their positions in the next five years due tohigh focus on innovations obtained from research and development and technology. The Asia-Pacific region is about to witness major growth in this market mainly due to the increasing technological adoption and wider demand among enterprises for Governance Risk and Compliance (GRC) Services to manage consistent data and induce control and visibility mechanisms in the region.

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In the current scenario, the global GRC market is highly fragmented. However, there is presence of few well established players. Also, these players have deeply penetrated into the GRC market by introducing new competitive products in the market. The companies are strengthening their position through merger & acquisition and continuously investing in research and development (R&D) activities to come up with solutions to cater the customer’s requirement. Furthermore, GRC solution providers are planning to invest in advanced technologies such as artificial intelligence with a target to provide cost competitive product in the market.

The key players profiled in the Governance Risk and Compliance (GRC) Services includes SAS Institute Inc., IBM Corp, SAP SE, EMC Corporation, Microsoft Corporation, Fidelity National Information Services, Inc. (FIS), Oracle Corporation, Thomson Reuters Corporation, Newport Consulting Group, Llc and BWise BV etc.

#Governance Risk and Compliance (GRC) Services Market

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primeatanthes · 6 years

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Husch Blackwell Announces Major Expansion in Texas; Adds 14 Lawyers to Offices in Austin, Dallas and Houston

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Kansas City, Mo., April 02, 2018 (GLOBE NEWSWIRE) — Husch Blackwell is pleased to announce the firm has added 14 Texas-based lawyers�including eight partners�to its offices in Austin, Dallas and Houston. The group represents a major expansion of the firm�s capabilities in the Texas legal market, particularly in the areas of insurance, banking and finance, eminent domain, government affairs, and governmental disputes.

Husch Blackwell�s national�insurance�coverage and litigation team is now expanded to include partners�Scott L. Davis,�David H. Timmins�and�Jason Heep, as well as�Eric Levy, who joins the firm as senior counsel. All four lawyers will practice in the firm�s�Financial Services & Capital Markets�industry group and reside in the firm�s Dallas office.

The firm�s�banking & finance group�now includes partners�Steven S. Camp,�W. Brian Memory�and�Reuben D. Rosof, as well as�Matt Crockett�and�Caleb Rush. All five lawyers will practice in the firm�s�Financial Services & Capital Markets�industry group and reside in the firm�s Dallas and Houston offices.

Additionally,�Kate David�and�Mike Stafford�join the firm�s�Public Law�team as partners based in the Houston office and will assist private companies, governments, and elected and appointed officials with complex public-law matters. They will be accompanied by associate�Phil Morgan; associate Ben Stephens will join the firm later in April. All four lawyers are members of the firm�s�Real Estate, Development & Construction�industry group.

Mark Vane�joins the firm�s Austin office and its�government affairs�team. Both Stafford and Vane will work closely with the firm�s lobbying and government-affairs consulting affiliate, Husch Blackwell Strategies.

All attorneys join Husch Blackwell from Gardere Wynne Sewell LLP, where Camp served as Chair of its Banking and Finance practice and Davis was the Head of its Insurer Representation Group and the former Co-Chair of its Litigation Department.

�We are very pleased to be joined by this outstanding group of lawyers,� said Husch Blackwell Chairman Greg Smith. �Our firm remains alert to opportunities in the marketplace to grow strategically important industry groups, and we feel that each of these lawyers brings valuable experience and insight to our clients on both the local and national levels.�

�The addition of this high-profile group signals to our clients the depth of our commitment to Texas,� said Paul Eberle, Husch Blackwell�s Chief Executive. �Additionally, our new colleagues represent a major investment by the firm in the industries we serve. Our enhanced capabilities in banking, insurance, and real estate provide a compelling service enhancement for our clients.�

�The banking-side transactional experience we have is a great fit with Husch Blackwell�s existing platform and client base,� said Camp. �The firm�s geographic footprint and client-centered culture also align with the way our team operates and are important to our existing clients.�

�We are very excited about Husch Blackwell�s industry-first approach to client service, as well as its geographic reach," said Davis. �By combining forces with the other lawyers at Husch Blackwell who already service the industry, our team is going to be able to provide end-to-end counsel to our insurance clients, including litigation, transactional and regulatory advice. We also will be able to use our experience in customized loss reserve and mitigation analysis to assist Husch Blackwell�s wide array of non-insurance clients.�

�The way public law and real estate development intersects is unique to each market, but Husch is among a handful of law firms to knit together a top-notch development practice on a regional�or even national�scale,� said Kate David. �I think their ability to build a platform with that kind of breadth speaks to the level of attention the firm places on each market. I�m excited to help the firm grow its presence in Houston and throughout the region.�

Partner Biography CapsulesInsurance TeamScott L. Davis.�Davis is a leading litigator and advisor to companies in the insurance industry. He utilizes cutting-edge analytics and decades of legal experience to develop customized strategies for clients to identify, assess, and mitigate risk. His broad litigation experience includes insurance coverage disputes, environmental disputes (including CERCLA recovery actions), aviation crashes, mass torts, professional malpractice, oil and gas, bankruptcy adversary proceedings, partnership disputes, securities fraud, D&O claims, commercial mortgage-backed securities litigation, and surety claims. He has a J.D., with high honors, from the University of Tennessee College of Law and holds a B.A. from Wright State University.

David H. Timmins.�Timmins represents global insurance carriers on a national basis in environmental and other commercial insurance and reinsurance disputes and is a recognized authority on insurance coverage litigation, including the expansion of bad faith liability, allocation of liabilities among multiple policies, and changes in the political and regulatory climate that impact litigation. He earned his J.D. from Washington and Lee University School of Law and holds a B.A. from the University of Texas.

Jason Heep.�Heep is a litigator focusing on environmental litigation, insurance coverage and bad faith disputes. He represents small companies to Fortune 50 corporations, routinely advising them on environmental regulatory compliance issues, reinsurance matters and risk management. He is a graduate of the University of Virginia School of Law and has a B.S. in Environmental Engineering from Northwestern University.

Banking & Finance TeamSteven S. Camp.�Camp is a long-time banking industry veteran who has closed thousands of loans across a variety of loan types. He was formerly senior corporate counsel at Bank One Corp. and has built a nationally recognized practice, integrating deep banking experience with an understanding of real estate lending, commercial loans, specialty loans, as well as bankruptcy financing and workouts. He is a graduate of Oklahoma City University School of Law and earned his B.A. at the University of Texas.

W. Brian Memory.�Memory is a veteran banking and finance lawyer. Prior to entering private practice, Memory served as assistant general counsel and senior vice president at PlainsCapital Bank, where he regularly provided advice to the bank�s executive team, managed the bank�s real estate portfolio, and handled much of the bank�s day-to-day legal affairs. He also has extensive experience in bank mergers and acquisitions. Memory has a J.D. from Emory University School of Law and holds a B.S. from the University of Utah.

Reuben D. Rosof.�Rosof maintains a broad finance practice representing both lenders and borrowers across an array of transactions, including workouts and restructurings, asset-based loans (involving varied types of collateral), unsecured loans, lot development loans, construction loans, permanent loans, syndicated loans, acquisition loans, letters of credit as credit enhancement for bonds and the purchase of bonds secured by real estate. He is a graduate of the Vanderbilt University Law School and holds a B.S. from Cornell University.

Public Law TeamKate David.�David is well-recognized throughout Texas as a leading litigator and condemnation attorney, advising both condemnors and property owners on high-stakes claims. She assists private companies, governments, and elected and appointed officials with difficult condemnation, election law, public contracting and constitutional tort disputes. She also has extensive experience handling sovereign, governmental, prosecutorial and qualified immunity issues. Additionally, serving as outside general counsel and special counsel, she advises governmental clients on issues relating to the Open Meetings Act, the Texas Public Information Act, contract negotiation, and general counseling. She graduated with honors from the University of Texas School of Law and holds a B.B.A. from the University of Texas.

Mike Stafford.�A former county attorney to Harris County, Texas, Stafford focuses his practice on resolving government-related disputes, including condemnations, regulatory compliance and administrative matters, earning a reputation for obtaining favorable results for both property owners and government condemnors. He also counsels clients in connection with election law disputes. He earned his J.D. from South Texas College of Law and has a B.A. in Chemistry from the University of Texas.

About Husch Blackwell Husch Blackwell is an industry-focused, full-service litigation and business law firm with locations in 18 U.S. cities. The firm represents national and global leaders in major industries including energy and natural resources; financial services and capital markets; food and agribusiness; healthcare, life sciences and education; real estate, development and construction; and technology, manufacturing and transportation. For more information, visit�huschblackwell.com.�

Attachment:

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/8e87cc6a-64b4-43f8-b2f0-fffee7541ec9

CONTACT: Steve RenauHusch [email protected]

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omcik-blog · 7 years

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New Post has been published on OmCik

New Post has been published on http://omcik.com/hurricane-irma-could-test-floridas-private-flood-insurance-market/

Hurricane Irma could test Florida's private flood insurance market

(Reuters) – Hurricane Irma could test a nascent private flood insurance market in Florida that some advocates say is a model for making U.S. flood coverage more affordable and commonplace in high-risk areas.

Florida’s private flood insurance market represents a tiny sliver of all flood policies in the state, but if a hurricane does hit Florida later this week, policyholders, industry and the federal government will see how private insurance performs in one of the country’s largest flood-prone markets.

“It’s a new breed of insurance in Florida,” said Loretta Worters, a spokeswoman for the Insurance Information Institute, an industry-funded communications group. “You have these companies that have never been tested for flood. We’ll have to see how it works.”

Even before Hurricane Harvey triggered massive flooding in Texas last week, U.S. lawmakers were looking at alternatives to the indebted government-backed model of flood insurance.

The National Flood Insurance Program (NFIP), which owes $24.6 billion to the U.S. Treasury, is set to expire on September 30. It is the only source of flood insurance for most Americans because the risk of flooding is so high it makes it too costly for typical insurers to sell.

A Florida law in 2014 simplified the process for setting premium prices, enabling private insurers to sell different types of flood policies in the state, opening up the market.

Some advocates for reforming the program are pushing for additional changes to U.S. regulations that they say will spur more Americans to buy private coverage including making private flood policies suitable as a condition for home loans.

Some flood reform advocates, however, argue against letting private flood insurers into the market, because they say they will cherrypick the most profitable risks and leave the NFIP to deal with the rest.

Florida has more than 1.7 million NFIP policies in force, representing about 35 percent of all NFIP policies, according to the Florida Office of Insurance Regulation and Federal Emergency Management Agency data.

But more than one million homes at risk for storm surge damage in six of Florida’s riskiest metropolitan areas are not covered by flood insurance, according to an analysis of data from analytics firm Corelogic by the FAIR Foundation, a Fort Lauderdale, Florida-based non-profit group involved with flood policy issues.

That is because the homes are located in areas that the Federal Emergency Management Agency (FEMA) has not designated as having the highest flood risk, a designation that triggers the mortgage requirement to buy insurance, said Jay Neal, FAIR Foundation president and chief executive officer.

“The only way to address that insured risk is to have the private market participate,” said Neal, who also heads the Florida Association for Insurance Reform, a coalition of insurers and other business groups.

Insurers see opportunity in that untapped market. Nearly 30 insurers are offering various types of private flood insurance coverage in Florida, including units of American International Group Inc, Chubb Ltd. Progressive Corp and HCI Group Inc, according to the regulator’s website.

Insurers are buying reinsurance from companies such as Renaissance Re, Validus Re and XL Catlin to hedge the risk.

More than 20,000 private market flood policies were in force in Florida as of June 30, said Florida’s insurance regulator.

Hurricane Harvey’s punishing blows to Houston has spawned interest in private flood insurance among Floridians, even before the chances of Hurricane Irma hitting Florida increased, said Josh Butts, and insurance agent who owns Cornerstone Insurance Inc in Tampa.

“We’ve sold more flood insurance during the last week because of what happened in Texas than we have during a storm in Florida,” Butts said.

Reporting by Suzanne Barlyn; editing by Carmel Crimmins

Our Standards:The Thomson Reuters Trust Principles.

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omcik-blog · 8 years

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New Post has been published on OmCik

New Post has been published on http://omcik.com/gop-aca-change-bill-may-favor-commercial-health/

GOP ACA change bill may favor commercial health

Sen. Rob Portman, R-Ohio, shown above at a hearing, is the leader of a group of four senators who want richer benefits protection for people who qualify for Medicaid expansion coverage. (Photo: Senate)

The new Republican American Health Care Act draft could give health insurers an incentive to like their individual commercial health units a little more and their Medicaid units less.

A LifeHealthPro.com analysis suggests that the newly released draft could keep total support for individual commercial health coverage users about the same over the next 10 years but cut federal Medicaid funding by about 11 percent to 14 percent.

The House Republicans today posted a new, searchable version of the AHCA bill. A copy of the new, searchable text is available here.

Related: The big new House Republican ACA change draft is here

Like the version of the AHCA released Monday, which was not searchable, and an earlier version of the proposal leaked in February, the new version is a bill that would change Affordable Care Act spending and revenue-raising provisions, not a bill that would repeal and replace most or all of the ACA.

Drafters used that approach because Republicans hold just 52 seats in the Senate. Getting an ordinary bill through the Senate traditionally takes 60 votes. Senate traditions let a budget measure get through with just 51 votes.

The current AHCA verbiage is just a draft.

Sen. Rob Portman, R-Ohio, has joined with three other Republican senators to argue that the draft would cut Medicaid funding too much.

“We believe Medicaid needs to be reformed, but reform should not come at the cost of disruption in access to health care for our country’s most vulnerable and sickest individuals,” Portman wrote to Senate Majority Leader Mitch McConnell.

Shelley Moore Capito of West Virginia, Cory Gardner of Colorado and Lisa Murkowski of Alaska also signed the letter.

Rep. Mark Walker, R-N.C., the leader of the House Republican Study Committee, has opposed similar proposals in the past, arguing that they looked too much like Obamacare. At press time, he had not yet weighed in on the new draft.

But, if the new AHCA draft took effect as is, it would eliminate the ACA individual and employer “shared responsibility” provisions, or coverage mandates.

The draft also would:

Eliminate the need for major medical coverage to meet ACA essential health benefits package requirements.

Let insurers sell coverage outside their state of domicile.

Widen the gap between what insurers charge the youngest adult enrollees and the oldest enrollees.

Replace the current income-based ACA exchange plan premium tax credits with age-based premium tax credits that could be used to buy coverage inside or outside the exchange system, with credit amounts ranging from $2,000 for people younger than 30 to $4,000 for people ages 60 or older.

Change the federal Medicaid funding formula.

Delay the onset of the ACA “Cadillac plan tax,” or 40 percent excise tax on high-cost employer-provided health benefits.

Kill the health insurer tax.

Old versions of the AHCA draft would have provided funding for grants states could spend on market stabilization programs, to replace the existing ACA risk corridors program, and that ACA reinsurance program that expired at the end of 2016. The Patient and State Stability Fund could provide $100 billion in grant funding through 2026.

The new AHCA draft might lead some insurers to rethink their strategies. (Image: Thinkstock)

Possible effects

Crude calculations suggest that the AHCA changes could hit Medicaid plans harder than commercial coverage issuers.

Medicaid

Government figures show that Medicaid and the Children’s Health Insurance Program now provide coverage for about 72 million people.

The AHCA draft could cut Medicaid spending by $560 billion over 10 years, according to Richard Fiesta, executive director of the Alliance for Retired Americans, a group that opposes the proposal.

The latest government National Health Expenditure projections show the federal government will account for $362 billion of Medicaid’s $567 billion in 2017 spending, and is on track to contribute about $4 trillion of the $7 trillion to be spent on the program through 2025.

Analysts at Standard & Poor’s predict the proposal will cut Medicaid enrollment by 4 million to 6 million. That would reduce total Medicaid enrollment by 8 percent.

But it’s possible that the cuts could be good for insurers with strong managed Medicaid units. Michael Neidorff, chairman of St. Louis-based Centene Corp., said in February that tight Medicaid budgets could create opportunities for carriers that know how to keep costs down.

Commercial individual major medical

Commercial insurers cover about 19 million people through individual and family major medical plans, according to Mark Farrah Associates. About 12 million of those people got their coverage through the Affordable Care Act exchange system this year, and about 10 million are using the current ACA premium tax credit subsidy to pay for their coverage.

The Congressional Budget Office has estimated the government will spend $45 billion this year on ACA premium tax credit subsidies and cost-sharing reduction subsidies, and nothing on the expired ACA reinsurance program, the expired ACA risk corridors profit margin protection program or the ACA risk-adjustment program.

The CBO shows all commercial market programs together could lead to about $900 billion in federal support for health insurers over 10 years.

The S&P analysts predict the AHCA draft provisions could cut individual health enrollment by 2 million to 4 million, or about 10 percent to 20 percent.

In 2015, insurers received about $3,800 in premium tax credit subsidy support per tax credit user, according to Internal Revenue Service data.

But only the 10 million ACA exchange users who meet the strict income requirements for the subsidy can use it. The AHCA subsidy would have a much higher income cut-off, and all buyers in the individual market could use it.

Because insurers would no longer have to meet the current ACA benefits richness standards, they might be attract some of the moderately high-income people who are now uninsured with cheaper individual products.

If an average of 20 million people received an average of $3,000 in tax credits per year, for 10 years, that would send health insurers $600 billion in tax credit subsidy money.

Insurers would probably end up getting most of the $100 billion in AHCA draft federal stabilization grant money.

The AHCA draft also would eliminate $145 billion in ACA health insurer taxes, and it could eliminate $49 billion in Cadillac plan taxes.

Those items combined could add up to close to $900 billion over 10 years, or an amount comparable to the total amount of support shown in the CBO ACA support projections.

Pay-fors

Although the AHCA draft system could be kind to insurers, many skeptics say the provisions that would make it generous and popular, such as the elimination of mandates and taxes, eliminate most obvious sources of program funding.

The Committee for a Responsible Federal Budget, for example, says drafters should have kept a provision seen in some earlier drafts, which would have raised money by capping the group health insurance premium tax exclusion.

Mark Rouck, an analyst at Fitch Ratings, says the draft would give insurers some benefits flexibility, but that it does not give them much underwriting flexibility.

Other AHCA draft provisions could expose insurers to more competition, Rouck says.

“Significantly increased competition can theoretically drive down pricing if insurers become very aggressive, which could pressure financial health if it goes too far,” Rouck says.

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