Health insurance companies in Minnesota are now required by law to cover the cost of wigs for those who have lost their hair due to a medical condition. Originally, only alopecia was covered, but not alopecia caused by cancer. The legislation comes into effect days after the death from ovarian cancer of former Minnesota Senate Majority Leader Kari Dziedzic. Dziedzic, who authored the provision in the omnibus bill and died on Dec. 27, had her own struggles with hair loss.
Now that these drugs are in greater demand from both patients and doctors, state Medicaid programs are grappling with whether to cover them for weight loss, both for reasons of equity and to save on future health expenditures. Some researchers, however, question whether the drugs can help lower costs in the long run.
From the 'careless bureaucracy' to high costs, the American healthcare system is broken. The murder of UnitedHealthcare's CEO could mark a moment for reform.
Elevance Health closed its acquisition of Indiana University Health Plans, adding to its growing portfolio of Anthem Blue Cross and Blue Shield operations. The company Tuesday said IU Health is "known for its local brand awareness, community involvement, high-touch customer service, and extensive product offerings." Financial terms of the deal weren't disclosed. The bulk of the IU Health Plans business is in the company's Medicare Advantage plans with 19,000 seniors in 36 Indiana counties enrolled. Another 9,600 health plan members are in "fully-insured commercial plans for employers," Elevance said.
Drugmakers plan to raise prices on at least 250 branded medications including Pfizer COVID-19 treatment Paxlovid, Bristol Myers Squibb's cancer cell therapies and vaccines from France's Sanofi at the start of 2025, according to data analyzed by healthcare research firm 3 Axis Advisors. Nearly all of the drug price increases are below 10% - most well below. The median price increase of the drugs being hiked Jan. 1 is 4.5%, which is in line with the median for all price increases last year. The increases are to list prices, which do not include rebates to PBMs and other discounts.
Medicare beneficiaries who take a lot of pricey medications will get a big break in 2025. That's when the $2,000 annual cap on out-of-pocket costs for drugs bought at the pharmacy or through mail order takes effect. The limit is one of the 2022 Inflation Reduction Act's most consequential provisions to lower prescription drug prices for Medicare enrollees. The law also instituted a $35 monthly cap on insulin prescriptions, enabled beneficiaries to get more vaccines at no cost, allowed Medicare to negotiate the prices of certain medications and required drug makers to pay a rebate to Medicare if they hike prices faster than inflation. Before the law, there was no cap on what Medicare enrollees might have to spend on medications covered by their Part D drug plans. They were on the hook for 5% of their drugs' cost in the so-called catastrophic coverage phase, which, in 2023, began when they hit $7,400 in out-of-pocket spending. The federal government paid 80% of the cost, while insurers paid 15%.