Today marks the one-year anniversary of the House of Representatives vote to repeal the Affordable Care Act. If you don't see many cakes or balloons, that probably has a lot to do with the fact that the vote didn't change much. The health reform law still stands. Repealing the Job Killing Health Care Law Act, or HR 2, was dead on arrival in the Democratic-controlled Senate. But that doesn't mean the health reform law has survived the past two years completely intact. Both Congress and the administration have repealed, stalled or backed off on a handful of health provisions, including one major new insurance program.
UnitedHealth Group Inc.'s fourth-quarter profit rose 21%, helped by growing health-insurance membership, signs of light health-care usage in some areas and fast-rising sales in the company's Optum health-services unit. The Minneapolis-based company, the largest managed-care concern by revenue, capped a strong year helped by a continued trend of muted patient traffic in hospitals and doctors' offices. Still, UnitedHealth held its 2012 guidance in check while maintaining a guarded outlook for the new year. The company anticipates patients will ramp up medical-system use, and it is making big investments related to the U.S. health-care overhaul law and changes in its pharmacy-benefits business, among other pressure points.
Healthcare insurance coverage for Eastman Kodak employees and retirees has not been affected by the company's bankruptcy filing—but MVP Health Care, which provides that coverage, has nonetheless been bombarded with phone calls today. Consequently, the company has scheduled a series of information meetings in the first week of February to allay concerns and explain options for the future. Many inquiries have been from retirees who are concerned about the possibility that coverage could change or disappear as Kodak moves through bankruptcy court, said MVP spokesman Gary Hughes.
A new poll from the US Chamber of Commerce reveals an increasingly frustrated small business community worried about the impact President Obama's health care law may have on their bottom line. Nearly three-quarters, or 74 percent, say the new law is causing an impediment to job creation. Brad Close, vice president of Public Policy for the National Federation of Independent Business, said: "What they know so far scares them; worries them very much." Close said the businesses he represents are in favor of health care reform, but his clients ultimately could not support what President Obama has crafted.
Americans' confidence in their ability to access and pay for healthcare improved for the second straight month, according to a consumer sentiment index produced by Thomson Reuters. Respondents reported positive news when asked if they had experienced a reduction in or loss of insurance coverage in December. Overall, the Thomson Reuters Consumer Healthcare Sentiment Index moved upward one point from 98 to 99. "It's extremely encouraging to see high levels of across-the-board optimism from healthcare consumers in this month's report," said Gary Pickens, chief research officer at the Thomson Reuters Center for Healthcare Analytics.
Wall Street's concern about the U.S. Supreme Court's looming decision on President Obama's healthcare overhaul is overblown because the provision at the heart of the law already has little teeth, the top executive at Aetna Inc. said. The court in March will hear arguments on the part of the law that requires Americans buy insurance or pay a penalty, known as the individual mandate. A ruling is expected by the end of June. Some insurers have argued that a strong individual mandate is critical for the stability of the insurance pool by ensuring that healthy people buy insurance in addition to sick patients.