<?xml version="1.0" encoding="UTF-8"?><rss version="2.0" xmlns:content="http://purl.org/rss/1.0/modules/content/" xmlns:wfw="http://wellformedweb.org/CommentAPI/" xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:atom="http://www.w3.org/2005/Atom" xmlns:sy="http://purl.org/rss/1.0/modules/syndication/" xmlns:slash="http://purl.org/rss/1.0/modules/slash/" > <channel> <title>Life & Health Insurance | Insurance Advocate</title> <atom:link href="https://www.insurance-advocate.com/category/life-health/feed/" rel="self" type="application/rss+xml" /> <link>https://www.insurance-advocate.com</link> <description>Since 1889</description> <lastBuildDate>Wed, 12 Dec 2018 13:56:24 +0000</lastBuildDate> <language>en-US</language> <sy:updatePeriod> hourly </sy:updatePeriod> <sy:updateFrequency> 1 </sy:updateFrequency> <generator>https://wordpress.org/?v=6.7.2</generator> <item> <title>Better to be a Poor Patient in the U.S. than a Rich Patient in a Socialized System</title> <link>https://www.insurance-advocate.com/2016/05/03/better-to-be-a-poor-patient-in-the-u-s-than-a-rich-patient-in-a-socialized-system/</link> <dc:creator><![CDATA[Gina Marie Balog-Sartario]]></dc:creator> <pubDate>Tue, 03 May 2016 16:01:23 +0000</pubDate> <category><![CDATA[2016]]></category> <category><![CDATA[Current News]]></category> <category><![CDATA[Life & Health Insurance]]></category> <guid isPermaLink="false">https://www.insurance-advocate.com/?p=5624</guid> <description><![CDATA[<p>Contributor & Author: Gerard J. Gianoli, M.D., F.A.C.S., Neuro-otology & Skull Base Surgeon, Member of The Association of American Physicians and Surgeons (AAPS)   The surprising thing about Ms. Hutchon’s medical horror story is not the four delays in her emergency surgery. It’s that she did not come to the U.S. to have her surgery […]</p> The post <a href="https://www.insurance-advocate.com/2016/05/03/better-to-be-a-poor-patient-in-the-u-s-than-a-rich-patient-in-a-socialized-system/">Better to be a Poor Patient in the U.S. than a Rich Patient in a Socialized System</a> first appeared on <a href="https://www.insurance-advocate.com">Insurance Advocate</a>.]]></description> <content:encoded><![CDATA[<h6><em>Contributor & Author: <a href="http://www.earandbalance.net/our-physicians/gerard-j-gianoli-md/">Gerard J. Gianoli, M.D., F.A.C.S.</a>, Neuro-otology & Skull Base Surgeon, Member of <a href="http://click.icptrack.com/icp/relay.php?r=41423732&msgid=419930&act=ZUYN&c=917709&destination=http%3A%2F%2Fwww.aapsonline.org%2Findex.php%2Fabout_us%2F">The Association of American Physicians and Surgeons</a> (AAPS)</em></h6> <p> </p> <p><strong><em>The surprising thing about Ms. Hutchon’s medical horror story is not the four delays in her emergency surgery. It’s that she did not come to the U.S. to have her surgery sooner, as other politicians in socialized systems do. Fidel Castro left Cuba, Michael Moore’s “socialist healthcare paradise”, for a private hospital in Spain when he needed life-sustaining surgery. Similarly, Canadian prime minister Danny Williams came to the U.S. (just as 40,000 Canadian citizens do every year) for heart surgery. Unlike Hutchon, Castro and Williams are still alive.</em></strong></p> <p> </p> <p>“What about the poor?” is inevitably asked of people who promote free enterprise in medicine. Good question. Let’s look at actual results, not sentiment or good intentions.</p> <p>In the U.S., Medicaid is generally the means for payment for medical services for the poor. The services are, however, the same regardless of the payment method (Medicaid or private). In socialized systems, the payment method is the same for rich and poor, and service is provided by government-salaried workers. As is typical of socialism, more money does not buy you more or better services, but political influence often does.</p> <p>Many decry <a href="http://click.icptrack.com/icp/relay.php?r=41423732&msgid=419930&act=ZUYN&c=917709&destination=http%3A%2F%2Fhealthcare-economist.com%2F2008%2F10%2F16%2Ffavoritism-in-the-nhs%2F">favoritism</a> for the politically influential in socialized systems. Consequently, it was big news when the <a href="http://click.icptrack.com/icp/relay.php?r=41423732&msgid=419930&act=ZUYN&c=917709&destination=http%3A%2F%2Fwww.dailymail.co.uk%2Fnews%2Farticle-1371861%2FNHS-director-dies-operation-cancelled-times-hospital.html">former director of the NHS died</a> in 2011. Margaret Hutchon died in her own hospital, located in the town where she was mayor. Emergency surgery was to be done in June the preceding year, but was cancelled and delayed four times over the course of almost 10 months. In the UK, when it comes to hospitals and the NHS, there were probably very few people with more political influence than Hutchon. The fact that even she was subject to such delays highlights the inefficiencies of socialized medical systems.</p> <p>The surprising thing about Ms. Hutchon’s medical horror story is not the four delays in her emergency surgery. It’s that she did not come to the U.S. to have her surgery sooner, as other <a href="http://click.icptrack.com/icp/relay.php?r=41423732&msgid=419930&act=ZUYN&c=917709&destination=http%3A%2F%2Fnews.heartland.org%2Fnewspaper-article%2Ftop-canadian-politician-chooses-us-health-care">politicians</a> in socialized systems do. <a href="http://click.icptrack.com/icp/relay.php?r=41423732&msgid=419930&act=ZUYN&c=917709&destination=http%3A%2F%2Fwww.dailymail.co.uk%2Fnews%2Farticle-426119%2FCastro-admitted-Spanish-hospital.html">Fidel Castro left Cuba</a>, Michael Moore’s “socialist healthcare paradise”, for a private hospital in Spain when he needed life-sustaining surgery. Similarly, Canadian prime minister <a href="http://click.icptrack.com/icp/relay.php?r=41423732&msgid=419930&act=ZUYN&c=917709&destination=http%3A%2F%2Fwww.sfgate.com%2Fopinion%2Fopenforum%2Farticle%2FWhy-Canadian-premier-seeks-health-care-in-U-S-3198150.php">Danny Williams came to the U.S.</a> (just as 40,000 Canadian citizens do every year) for heart surgery. Unlike Hutchon, Castro and Williams are still alive.</p> <p>As bad as socialized systems work when you are politically connected, they’re even worse when you are not.</p> <p>Hutchon’s experience is not unusual. My patients relay similar stories or worse. A <a href="http://click.icptrack.com/icp/relay.php?r=41423732&msgid=419930&act=ZUYN&c=917709&destination=https%3A%2F%2Fwww.fraserinstitute.org%2Fstudies%2Fwaiting-your-turn-wait-times-for-health-care-in-canada-2015-report">recent study by the Fraser Institute</a> revealed that, in Canada, the median wait time from referral by a primary care doctor until treatment by a specialist was 18.3 weeks. The 13.6-week wait in Saskatchewan was the shortest, and the nearly yearlong wait (43.1 weeks) in Prince Edward Island was the longest. If the primary care doctor referred a patient to the wrong specialist, care could be delayed for more than a year.</p> <p>In the United States, while we have problems regarding costs, even the most destitute of our citizens do not face such long wait times. Any hospital or physician who has delayed treatment for an emergent medical condition would be subject to civil and potentially criminal prosecution. But not so in the socialized systems, as long as the paperwork has been filled out.</p> <p>Our own version of socialized medicine is the Veterans Administration system. The <a href="http://click.icptrack.com/icp/relay.php?r=41423732&msgid=419930&act=ZUYN&c=917709&destination=https%3A%2F%2Fen.wikipedia.org%2Fwiki%2FVeterans_Health_Administration_scandal_of_2014">VA delay scandal of 2014</a> demonstrated how the VA has operated for years—delays in medical treatment and cover ups of the inadequacy of the system. A probe revealed 40 veterans who died waiting for care at one VA Hospital in Phoenix, while an internal VA audit of 40 VA facilities revealed that 120,000 veterans were left waiting or never got care, while schedulers used a system designed to hide this problem. This was not new for the VA—a 2002 VA report demonstrated 300,000 veterans waiting more than 6 months for appointments. The problem <a href="http://click.icptrack.com/icp/relay.php?r=41423732&msgid=419930&act=ZUYN&c=917709&destination=http%3A%2F%2Fchicago.suntimes.com%2Fopinion%2Feditorial-lies-appointments-va-hospitals%2F">continues to this day</a>. Even indigent patients on Medicaid receive care more promptly.</p> <p>But veterans have an escape route. They can opt to seek care outside of the VA, where they can receive private care almost immediately. And they don’t need to leave the country.</p> <p>Medicaid patients have better access to healthcare in the U.S. than the politically connected in socialized systems. Yes, the poor need a “safety net.” But note that the U.S., which still has private medicine, IS the safety net for people trapped in socialized medicine.#</p> <p> </p> <h6><em><a href="https://www.insurance-advocate.com/wp-content/uploads/2016/05/Gianoli-Gerard-MD.jpg"><img decoding="async" class="wp-image-5631 alignleft" src="https://www.insurance-advocate.com/wp-content/uploads/2016/05/Gianoli-Gerard-MD-240x300.jpg" alt="Gianoli, Gerard MD" width="133" height="166" srcset="https://www.insurance-advocate.com/wp-content/uploads/2016/05/Gianoli-Gerard-MD-240x300.jpg 240w, https://www.insurance-advocate.com/wp-content/uploads/2016/05/Gianoli-Gerard-MD-600x750.jpg 600w, https://www.insurance-advocate.com/wp-content/uploads/2016/05/Gianoli-Gerard-MD-768x960.jpg 768w, https://www.insurance-advocate.com/wp-content/uploads/2016/05/Gianoli-Gerard-MD-819x1024.jpg 819w, https://www.insurance-advocate.com/wp-content/uploads/2016/05/Gianoli-Gerard-MD.jpg 1800w" sizes="(max-width: 133px) 100vw, 133px" /></a>Gerard Gianoli, M.D., F.A.C.S. specializes in Neuro-otology and Skull Base Surgery. He is in private practice at The Ear and Balance Institute, located in Covington, but is also a Clinical Associate Professor in the Departments of Otolaryngology and Pediatrics at Tulane University School of Medicine. He pioneered treatments for Superior Semicircular Canal Dehiscence and other vestibular disorders. His private practice has a worldwide reach, with patient referrals coming from all over the United States and from around the world.</em><br /> <em> </em><br /> <em>Dr. Gianoli opted out of Medicare in 2001 and has had a 100% third-party-free practice since 2005. He’s lectured and written extensively (as well as had numerous media interviews) on third party free medical practices and free market medicine. His editorials have appeared in The Wall Street Journal, Forbes, Investor’s Business Daily, The Hill and other popular periodicals.</em><br /> <em> </em><br /> <em>He has received numerous awards, including the American Academy of Otolaryngology’s Honor Award, and has been named in America’s Top Doctors and America’s Top Physicians every year since their inception in 2001 and 2003 respectively. Dr. Gianoli practices all aspects of neuro-otology but has a special interest in vestibular (balance) disorders. He has researched, lectured and published extensively on the topic of vestibular disorders. Website: www.earandbalance.net</em></h6>The post <a href="https://www.insurance-advocate.com/2016/05/03/better-to-be-a-poor-patient-in-the-u-s-than-a-rich-patient-in-a-socialized-system/">Better to be a Poor Patient in the U.S. than a Rich Patient in a Socialized System</a> first appeared on <a href="https://www.insurance-advocate.com">Insurance Advocate</a>.]]></content:encoded> </item> <item> <title>Aetna Looks to Acquire Humana for $37B</title> <link>https://www.insurance-advocate.com/2015/08/10/aetna-looks-to-acquire-humana-for-37b/</link> <dc:creator><![CDATA[Phil Gusman]]></dc:creator> <pubDate>Mon, 10 Aug 2015 01:03:50 +0000</pubDate> <category><![CDATA[Life & Health Insurance]]></category> <guid isPermaLink="false">http://gator4211.hostgator.com/~cinnww/insurance-advocate.com/?p=4351</guid> <description><![CDATA[<p>Aetna plans to acquire Humana for $37 billion in a deal that would see Humana stockholders receive $125 in cash and 0.8375 Aetna common shares for each Humana share. After the deal, Aetna’s shareholders would own approximately 74% of the combined company and Humana’s shareholders would own approximately 26%. The combined company would have projected […]</p> The post <a href="https://www.insurance-advocate.com/2015/08/10/aetna-looks-to-acquire-humana-for-37b/">Aetna Looks to Acquire Humana for $37B</a> first appeared on <a href="https://www.insurance-advocate.com">Insurance Advocate</a>.]]></description> <content:encoded><![CDATA[<p class="p1"><span class="s1">Aetna plans to acquire Humana for $37 billion in a deal that would see Humana stockholders receive $125 in cash and 0.8375 Aetna common shares for each Humana share.</span></p> <p class="p1"><span class="s1">After the deal, Aetna’s shareholders would own approximately 74% of the combined company and Humana’s shareholders would own approximately 26%.</span></p> <p class="p1"><span class="s1">The combined company would have projected 2015 operating revenue of around $115 billion, with approximately 56% from government sponsored programs including Medicare and Medicaid. It would also have over 33 million medical members, based on memberships as of March 31.</span></p> <p class="p1"><span class="s1">“The acquisition of Humana aligns two great companies and will significantly advance our strategy of more effectively serving members in a rapidly changing health care industry,” says Mark T. Bertolini, Aetna chairman and CEO.</span></p> <p class="p1"><span class="s1">A Reuters <a href="http://www.reuters.com/article/2015/08/04/aetna-results-ceo-idUSL1N10F16820150804"><span class="s2">story</span></a> quotes Bertolini as telling investors that the antitrust process with regulators has begun. “The process is underway,” he says in the Reuters story. “We’ve engaged in conversations with insurance commissioners, with governors, with Washington.”</span></p>The post <a href="https://www.insurance-advocate.com/2015/08/10/aetna-looks-to-acquire-humana-for-37b/">Aetna Looks to Acquire Humana for $37B</a> first appeared on <a href="https://www.insurance-advocate.com">Insurance Advocate</a>.]]></content:encoded> </item> <item> <title>Anthem to Acquire Cigna for $54.2B</title> <link>https://www.insurance-advocate.com/2015/08/10/anthem-to-acquire-cigna-for-54-2b/</link> <dc:creator><![CDATA[Phil Gusman]]></dc:creator> <pubDate>Mon, 10 Aug 2015 00:02:09 +0000</pubDate> <category><![CDATA[Life & Health Insurance]]></category> <guid isPermaLink="false">http://gator4211.hostgator.com/~cinnww/insurance-advocate.com/?p=4348</guid> <description><![CDATA[<p>Anthem, Inc. will acquire Cigna Corporation in a transaction valued at $54.2 billion. The deal involves Anthem purchasing all outstanding shares of Cigna in a cash and stock transaction, and Cigna shareholders receiving $103.40 in cash and 0.5152 Anthem common shares for each Cigna common share. “We are very pleased to announce an agreement that […]</p> The post <a href="https://www.insurance-advocate.com/2015/08/10/anthem-to-acquire-cigna-for-54-2b/">Anthem to Acquire Cigna for $54.2B</a> first appeared on <a href="https://www.insurance-advocate.com">Insurance Advocate</a>.]]></description> <content:encoded><![CDATA[<p class="p1"><span class="s1">Anthem, Inc. will acquire Cigna Corporation in a transaction valued at $54.2 billion.</span></p> <p class="p1"><span class="s1">The deal involves Anthem purchasing all outstanding shares of Cigna in a cash and stock transaction, and Cigna shareholders receiving $103.40 in cash and 0.5152 Anthem common shares for each Cigna common share. </span></p> <p class="p1"><span class="s1">“We are very pleased to announce an agreement that will deliver meaningful value to consumers and shareholders through expanded provider collaboration, enhanced affordability and cost of care management capabilities, and superior innovations that deliver a high quality health care experience for consumers,” says Joseph Swedish, president and CEO of Anthem. “We believe that this transaction will allow us to enhance our competitive position and be better positioned to apply the insights and access of a broad network and dedicated local presence to the health care challenges of the increasingly diverse markets, membership, and communities we serve.”</span></p> <p class="p1"><span class="s1">David M. Cordani, president and CEO of Cigna, says,“Our companies share proud histories and an even brighter future. Going forward our new company will deliver an acceleration of innovative and affordable health and protection benefits solutions that help address our health system’s challenges and provide supplemental insurance protection, and health care security to consumers, their families, and the communities we share with them.”</span></p> <p class="p1"><span class="s1">The transaction is expected to close in the second half of 2016, pending approvals.</span></p>The post <a href="https://www.insurance-advocate.com/2015/08/10/anthem-to-acquire-cigna-for-54-2b/">Anthem to Acquire Cigna for $54.2B</a> first appeared on <a href="https://www.insurance-advocate.com">Insurance Advocate</a>.]]></content:encoded> </item> <item> <title>Willis, Towers Watson to Join in $18B Merger</title> <link>https://www.insurance-advocate.com/2015/07/06/willis-towers-watson-to-join-in-18b-merger/</link> <dc:creator><![CDATA[Phil Gusman]]></dc:creator> <pubDate>Mon, 06 Jul 2015 00:10:16 +0000</pubDate> <category><![CDATA[Commercial Insurance]]></category> <category><![CDATA[Current News]]></category> <category><![CDATA[Life & Health Insurance]]></category> <guid isPermaLink="false">http://gator4211.hostgator.com/~cinnww/insurance-advocate.com/?p=4011</guid> <description><![CDATA[<p>Willis Group Holdings and Towers Watson plan to merge in an all-stock deal creating a firm with an equity value of about $18 billion. As part of the transaction, Willis shareholders will own 50.1% of the combined company, while Towers Watson will own 49.9%. Towers Watson shareholders will receive a one-time cash dividend of $4.87 […]</p> The post <a href="https://www.insurance-advocate.com/2015/07/06/willis-towers-watson-to-join-in-18b-merger/">Willis, Towers Watson to Join in $18B Merger</a> first appeared on <a href="https://www.insurance-advocate.com">Insurance Advocate</a>.]]></description> <content:encoded><![CDATA[<p class="p1"><span class="s1">Willis Group Holdings and Towers Watson plan to merge in an all-stock deal creating a firm with an equity value of about $18 billion.</span></p> <p class="p1"><span class="s1">As part of the transaction, Willis shareholders will own 50.1% of the combined company, while Towers Watson will own 49.9%. Towers Watson shareholders will receive a one-time cash dividend of $4.87 per Towers Watson share, and about 2.65 Willis shares for each Towers Watson share. Reports, including a Bloomberg <a href="http://www.bloomberg.com/news/articles/2015-06-30/willis-group-and-towers-watson-agree-to-18-billion-merger"><span class="s2">story</span></a>, say this amounts to Willis buying Towers Watson for about $8.7 billion. </span></p> <p class="p1"><span class="s1">Moody’s Investors Service affirmed Willis’ ratings after the deal was announced and changed the broker’s outlook to stable from negative due to the improved business diversification the combined firm, which will be called Willis Towers Watson, will have.</span></p> <p class="p1"><span class="s1">“The proposed merger would transform Willis by approximately doubling its size and adding a leading benefits consulting operation,” says Bruce Ballentine, Moody’s lead analyst for Willis. “The combined firm would have good financial flexibility, given that Towers Watson carries significantly less debt than Willis,” added Ballentine.</span></p> <p class="p1"><span class="s1">Fitch Ratings placed Willis on Rating Watch Positive, stating, “The transaction creates a larger, more diverse entity with operating franchises in several non-capital intensive fee- and commission-based businesses, including insurance brokerage and consulting services in employee benefits, human resources and risk and capital management. The transaction also creates opportunities to leverage existing Towers Watson relationships to increase penetration in the larger U.S. P&C corporate market and to expand Towers Watson’s international profile.”</span></p> <p class="p1"><span class="s1"> </span></p> <h2>Towers Watson shareholders</h2> <p class="p1"><span class="s1">Some media reports however, suggest Towers Watson shareholders may feel they had the better company even though Willis shareholders will control 50.1% of the combined company. A Wall Street Journal <a href="http://www.wsj.com/articles/willis-group-towers-watson-to-merge-in-18-billion-deal-1435649451"><span class="s2">article</span></a> (subscription required) says Towers Watson shares dropped 8.8% on June 30 when “investors realized what they were actually getting….” </span></p> <p class="p1"><span class="s1">A Forbes article reports, “A look at the structure and timing of Tuesday’s deal indicates that Towers Watson shareholders may be leaving a lot on the table, and entering a transaction with significant strategic risks, all for the benefit of revenue synergies and the tax savings that would come from shifting its corporate tax headquarters to London, where Willis is based.” the article compares the strong growth of Towers Watson’s revenue and share price over the last 12 months to Willis’ “falling profits and relatively stagnant share price over the year.”</span></p> <p class="p1"><span class="s1">A number of law firms have already announced they are investigating Towers Watson’s board for a potential breach in fiduciary duty, contending that the $125.13 for each share of Towers Watson common stock shareholders would receive is too low based on analysts’ valuation of Towers Watson.</span></p> <p class="p1"><span class="s1"> </span></p> <h2>Execs focus on the positives</h2> <p class="p1"><span class="s1">Executives from both Willis and Towers Watson, though, discuss what the combined enterprise can accomplish going forward. John Haley, chairman and Chief Executive Officer of Towers Watson, says in a statement, “We see numerous opportunities to enhance our growth profile by offering integrated solutions that leverage Willis’ global distribution network and superb risk advisory and re/insurance broking capabilities to deliver a more robust set of analytics and product solutions across a broader client base, including accelerating penetration of our Exchange Solutions platform into the fast growing middle-market.”</span></p> <p class="p1"><span class="s1">Dominic Casserley, Willis CEO, says, “The rationale for the merger is powerful—at one stroke, the combination fast-tracks each company’s growth strategy and offers a truly compelling value proposition to our clients.”</span></p> <p class="p1"><span class="s1">The companies also point to the potential for accelerated growth in the health exchange market, where Towers Watson’s product Exchange Solutions — which enables companies to transition an employee or retiree to individual plans — can be marketed to Willis’ “significant middle-market relationships.”</span></p> <p class="p1"><span class="s1"> </span></p> <h2>New structure</h2> <p class="p1"><span class="s1">According to the companies, Willis Chairman James McCann will become Chairman of the combined Willis Towers Watson. Haley will be CEO, and Casserley will be president and deputy CEO. The company’s board will have 12 directors total — six nominated by Willis and six by Towers Watson, including Towers Watson’s and Willis’ current CEOs. Towers Watson CFO Roger Millay will be CFO of the new company.</span></p> <p class="p1"><span class="s1">A Bloomberg story <a href="http://www.bloomberg.com/news/articles/2015-06-30/willis-ceo-entitled-to-17-7-million-golden-parachute-after-deal"><span class="s2">notes</span></a> Casserley, because he would not be the most senior executive at the combined company, is eligible for a compensation package valued at $17.7 million, but he opted against taking it. </span></p> <p class="p1"><span class="s1">The transaction is expected to close by Dec. 31, and is subject to regulatory approvals and approval by both Willis and Towers Watson shareholders.</span></p>The post <a href="https://www.insurance-advocate.com/2015/07/06/willis-towers-watson-to-join-in-18b-merger/">Willis, Towers Watson to Join in $18B Merger</a> first appeared on <a href="https://www.insurance-advocate.com">Insurance Advocate</a>.]]></content:encoded> </item> <item> <title>U.S. Insurance Industry Shows Employment Gains in April</title> <link>https://www.insurance-advocate.com/2015/06/30/u-s-insurance-industry-shows-employment-gains-in-april/</link> <dc:creator><![CDATA[Phil Gusman]]></dc:creator> <pubDate>Tue, 30 Jun 2015 02:37:23 +0000</pubDate> <category><![CDATA[Commercial Insurance]]></category> <category><![CDATA[Current News]]></category> <category><![CDATA[Life & Health Insurance]]></category> <category><![CDATA[Personal Insurance]]></category> <guid isPermaLink="false">http://gator4211.hostgator.com/~cinnww/insurance-advocate.com/?p=3804</guid> <description><![CDATA[<p>Insurance-industry employment was up across most sub-sectors in April compared to March, according to an analysis of the latest U.S. Labor Department’s Bureau of Labor Statistics (BLS) figures. Health/medical direct insurers, life insurers and agents and brokers showed the strongest monthly gains. For life insurers, employment over the last year has at last reversed a […]</p> The post <a href="https://www.insurance-advocate.com/2015/06/30/u-s-insurance-industry-shows-employment-gains-in-april/">U.S. Insurance Industry Shows Employment Gains in April</a> first appeared on <a href="https://www.insurance-advocate.com">Insurance Advocate</a>.]]></description> <content:encoded><![CDATA[<p class="p1"><span class="s1">Insurance-industry employment was up across most sub-sectors in April compared to March, according to an analysis of the latest U.S. Labor Department’s Bureau of Labor Statistics (BLS) figures.</span></p> <p class="p1"><span class="s1">Health/medical direct insurers, life insurers and agents and brokers showed the strongest monthly gains. </span></p> <p class="p1"><span class="s1">For life insurers, employment over the last year has at last reversed a long downward trend that began after 2010, according to comments by I.I.I. President Robert Hartwig. Employment reached 370,000 for life insurers during the first half of 2010 before it began falling. Over the past 12 months, employment in this sub-sector has not fallen, and showed gains in 11 of those months. Employment has recovered to 357,000 as of April, up by 14,700 compared to April 2014 and up by 1,100 compared to March. </span></p> <p class="p1"><span class="s1">The health carrier segment has been increasing for decades, Hartwig says, and rose by 28,900 in April 2015 compared to April 2014, to 512,200. This sub-sector also showed the greatest monthly gains from March, adding 3,200 jobs over the month. Hartwig says, “At least some of this growth is undoubtedly connected with the flood of health-insurance applications, purchases and claims attributable to the Affordable Care Act (ACA), and some to population growth, but it is important to acknowledge that this rate of growth has been characteristic of this sector for decades—long before the ACA was proposed.”</span></p> <p class="p1"><span class="s1">Agent/broker employment is up by 24,600 jobs in April compared to the same month a year ago, and up 1,400 jobs compared to March. This sub-sector lost jobs after the recession, bottoming out at 638,200 in September 2010. Since then, the sub-sector has recovered, passing its pre-recession peak of 684,500, Hartwig notes. Employment in this sub-sector stands at 732,200 as of April.</span></p> <p class="p1"><span class="s1">Employment was up for property and casualty insurers in April as well, with the sub-sector gaining 700 jobs in April compared to March, and gaining over 10,000 jobs compared to April 2015.</span></p> <p class="p1"><span class="s1">Third-party administrators were the only sub-sector to show job losses from March to April, shedding 1,200 jobs. Reinsurer employment was flat over the month, and was up by 200 jobs compared to April 2014.</span></p>The post <a href="https://www.insurance-advocate.com/2015/06/30/u-s-insurance-industry-shows-employment-gains-in-april/">U.S. Insurance Industry Shows Employment Gains in April</a> first appeared on <a href="https://www.insurance-advocate.com">Insurance Advocate</a>.]]></content:encoded> </item> </channel> </rss>