Insurers, Other Industries React To Obama Victory, Health Law
AHIP's Karen Ignagni says insurers will shift focus to cost cutting, as survey finds other businesses continue to oppose the 2010 health care overhaul.
Bloomberg: Health Insurers Are Shifting Focus To Costs, Ignagni Says
The health-care industry will change its focus from expanding the insurance market to reining in medical costs now that the U.S. presidential election has been decided, said Karen Ignagni, chief executive officer of America’s Health Insurance Plans. The re-election of President Barack Obama, who campaigned to preserve his health-care system overhaul of 2010, gives the industry certainty that implementation of the Affordable Care Act will proceed, Ignagni said in an interview with Bloomberg Television’s Peter Cook for “Capitol Gains” airing Nov. 11. “When we look at health reform we look at it through the prism of affordability and disruption,” said Ignagni, whose organization is the main Washington-based lobbying group for health insurers (Armour, 11/9).
Modern Healthcare: Modern Healthcare Survey Finds Anger Over ACA
A Modern Healthcare Internet survey conducted after this week's presidential election tapped a deep vein of anger over the effects of the Patient Protection and Affordable Care Act, with a large group of respondents saying they had waited to see Tuesday's outcome before fully embracing the law. Of the 829 people who responded to the survey, 67% said the reform law would have a negative impact on the bottom lines of their healthcare business. Only 33% said the law would have a positive impact. A majority of respondents agreed that it would have been “better for your organization's bottom line” if Republican Mitt Romney had defeated President Barack Obama and raised the prospect of repealing the reform law. Nearly 57% agreed with that, while 31% disagreed and 12% were unsure (Modern Healthcare, 11/8).
The Wall Street Journal: What Obama's Victory Means For Business
After President Barack Obama's victory, CEOs say they are looking for a softening of the standoff between Congress and the president that characterized much of his first term in office. Here is a rundown of what a number of key industries may see during President Obama's second term: Health Care. President Obama's re-election means the complex health-care overhaul—with its coverage-expanding benefits and new costs for the industry—is here to stay. But questions remain on how the law would be implemented. That business in general performed better than the slumping broader market, helped by surging shares of hospital companies and insurers that manage Medicaid plans (Kamp and Mathews, 11/8).