General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsAs Obamacare Takes Hold, Unpaid Hospital Bills Vanish
As hospital operators begin to report second period earnings the sixth consecutive quarter of new revenue from once uninsured patients the number and size of unpaid medical bills continues to fall thanks to the Affordable Care Act. The health law last year began to provide subsidized private health insurance coverage on public exchanges and expanded Medicaid for poor Americans. With increasing numbers signing up to private coverage and more states opting to expand Medicaid in the last 18 months, hospital companies are seeing expenses for charity and uncompensated care fall. A snapshot of this trend could be seen in last weeks earnings report of Universal Health Services (UHS), a large multi-state investor-owned operator of hospitals, which reported uncompensated care declined in the second quarter as it has the last six quarters now, Universal Health chief financial officer Steve Filton told analysts on the companys second quarter earnings call.
Universal Health UHS +2.68% said its acute care hospitals have seen a decrease in the aggregate of charity care, uninsured discounts and provision of doubtful accounts as a percentage of gross charges this year through June 30 compared to the same period in 2014. Universal Healths cost providing for so-called doubtful accounts dropped 17 percent to $274 million during the first half of the year from $331 million during the six-month period ended June 30, 2014.
Such trends, which helped Universal Health raise its earnings forecast for the rest of the year, should help the entire hospital industry, particularly as more states opt to expand Medicaid. Under the ACA, states have the option to expand Medicaid and 31 states including the District of Columbia have done so, according to the latest tally from the Kaiser Family Foundation. We assume that the growth in our Medicaid patient base and utilization is related at least in large part to Medicaid expansion, Filton told analysts. We see it quite clearly most dramatically in those states, Nevada, California, the District of Columbia that have participated in Medicaid expansion. Universal Healths acute acre hospitals are located in California, Florida, Nevada, Oklahoma, South Carolina, Texas and the District of Columbia. An even clearer picture of U.S. hospital finances will emerge this week when Universal Healths larger hospital operators report their earnings. Tenet Health (THC) and Community Health Systems (CYH) report Tuesday, HCA Holdings HCA +0.05% (HCA) reports on Wednesday.
http://www.forbes.com/sites/brucejapsen/2015/08/02/as-obamacare-takes-hold-unpaid-hospital-bills-vanish/
merrily
(45,251 posts)n2doc
(47,953 posts)merrily
(45,251 posts)in great part, though there are some limits. However, so would the costs of Medicare for all be passed on to the rest of us. It's that, presumably, Medicare would cost less than private health insurance because profit would not be factored into Medicare.
Don't get me wrong. Obamacare was a good step.
proverbialwisdom
(4,959 posts)Bill would limit efforts to recoup Medi-Cal costs from patients' estates
BY STUART PFEIFER
June 5, 2015, 4:00 a.m.
The state's Medi-Cal program has long looked to the estates and heirs of deceased Californians to recoup public money spent on their healthcare in the last years of life.
But the practice including suing survivors and filing liens against the homes of poor families is coming under attack in Sacramento.
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Since 1993, California has recovered more than $1 billion from Medi-Cal recipients' estates and that number could swell as thousands more low-income people sign up for Medi-Cal as part of the Affordable Care Act. Almost a third of all Californians get some kind of assistance from Medi-Cal.
The $1 billion seized came from the estates of Medi-Cal recipients who died leaving behind assets, often their homes. If heirs do not voluntarily pay off the Medi-Cal debt, or win hardship exemptions, California officials file lawsuits to collect the debt in court.
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More: http://leginfo.legislature.ca.gov/faces/billNavClient.xhtml?bill_id=201520160SB33
merrily
(45,251 posts)Massachusetts, anyway, money Medicaid pays out on your behalf becomes a lien on your home.
I don't know that I have a problem with either one. Social safety nets are for those in need who cannot pay for those needs. Social safety nets are not for the purpose of making sure people inherit something. Sure, we'd all like to be able to leave something to our kids, but that's not the purpose of a safety net.
n2doc
(47,953 posts)For all those self righteous folks out there saying "debts must be repaid"- Consider this- If you have regular insurance or medicare, you don't have to pay back ALL of the costs of your healthcare when you die. Only the deductibles. But if you are too poor or young to have those, and have to go with medicaid, you are so burdened. Is it really fair to stick the poorest of us with the most costs?
Thinkingabout
(30,058 posts)will become more apparent in the future. President Obama knew this, I doubt he would be surprised. As the Senate prepares for other votes on ACA I would hope they would spend the money on improving health care and not tear it down. Shameful on the part of GOP.
KelleyKramer
(8,983 posts)The reports I saw for 2014 said unpaid visits were down around 30% from 2013
And this report says it is going down 17% more in 2015
Wow