- An Axios analysis of financial statements shows that hospitals, drug companies, health insurers, medical device manufacturers, and other health care suppliers generated record sales and profits during the second quarter. Annualized health care spending hit almost $4 trillion this past April, up 32.4 percent from April 2020. The increase in spending reflects both the mass cancellations of services last spring, but also the sizable surge of people coming back. However, a new report from Fitch Ratings forecasts that the Delta variant will make financials for hospitals in the second half of this year decidedly stormier. (Articles here and here)
- HHS announced that the number of navigator organizations that assist consumers with finding ACA coverage is expected to quadruple to 1,500 navigators in the 2022 coverage year. The department said it will provide $80 million in grant awards to 60 navigator organizations, which will be able to hire more than 1,500 navigators to aid consumers, for a 36-moth performance period. The announcement comes as the Biden administration tries to bolster the ACA, including holding a special open enrollment period for those affected by the pandemic through August 15. (Press release here)
August 30, 2021
Payers