Discover and read the best of Twitter Threads about #insurance

Most recents (24)

Long thread. Random thoughts from CRP:

Everyone is down on $LINK, but should you be? In reality, the team has insane runway, CCIP and OCR2 should be out soon, whales are adding, staking is still on the way and this is all while 1000+ integrations keep rolling in daily.
Chainlink isn't going anywhere. If you believe in a future where smart contracts are important, you have to realize how indispensable of a role $LINK will play in that regardless of which L1s or L2s pop off.
Zoom out. As more regulatory clarity comes, DeFi should rebound. Obviously $LINK isn't just for DeFi, but it's currently lumped into that sector until other use cases emerge to put more eyes on its' utility. It will gain more market independence as this happens.
Read 12 tweets
Why did Apple momentarily stop sales in Turkey?

The Turkish Lira has fallen to a record low due to controversial interest rate cuts. This year witnessed a 45% drop in the value of the currency, with a historic 15% decline on Nov 23.
(1/10)
With inflation at its peak, goods priced in local currency are being sold at steep discounts.

And so, Turks are rushing to stores to buy valuable electronic goods like Apple products as investments, since they’re likely to find a good resale value for them in the future.
(2/10)
The situation in Turkey became so dire that Apple decided to halt the sale of its products in the country altogether, with buyers receiving error messages on its website.

Sales resumed a few days later with significantly higher prices.
(3/10)
Read 10 tweets
Sadly, #MedicareForAll will not help #healthcare costs until the underlying problem with MEDICARE and the ENTIRE HEALTH SYSTEM is FIXED, a LONG 🧵 1 of 24 #Medtwitter @somedocs @AmerMedicalAssn @WCMSSM @MichStateMedSoc References: bit.ly/3rBcvGP bit.ly/3lE3nxf
2/ b/c @SenateFloor @HouseFloor & @CMSGov are yet again not fixing the true problem & instead are again targeting #Physicians by decreasing payments by another 9.75% on top of the fact that reimbursements to providers has already been decreased by 22% over the past 2 decades
3/ On average only 40% of the what your #insurance , including #Medicare , pays your doctor actually goes to the doctor as #income . The overhead costs to be a doctor takes at least 60% of the payment a doctor gets from Medicare or Insurance equivalent. bit.ly/3ptDX6B
Read 25 tweets
Why do women pay less for term life #insurance as compared to men?

Thread.👇(1/n)
It's true. Women get term insurance at cheaper rates than men. And no, this isn’t insurers being sexist.

So, why exactly is it happening?
Well, life insurers’ goal is simple: to gauge the risk of insuring the potential policyholder.

This basically means how likely you are to die during the policy term and exact a claim.
Read 9 tweets
Here's an interesting thread about our beloved comedian 🧵

(1/7)

#investing #StockMarket #insurance #mrbean Image
In 2011, Rowan Atkinson, whom we know as Mr. Bean, met with an accident while driving his McLaren F1 supercar 🏎️, which he bought in 1997 for £640,000.

(2/7)
To repair the car, Mr. Bean received an auto insurance payment of £910,000 (Rs. 9 Crores as of today), making it the most expensive luxury auto insurance claim ever! 😲

(3/7)
Read 7 tweets
44% of people from our recent poll believe that one should choose a term #insurance plan with '2 cr cover till 85' over '3 cr till 65', assuming they cost the same.

But that might not be such a smart move, financially speaking, and here's why. 👇 (1/n)
The thing is that a term insurance plan is most effective when your absence deals a financial blow to your family.
God forbid, if something unfortunate happens to you when you're in your 40s or 50s, your children might be young & your spouse may be unable to single-handedly bear the brunt of it all.
Read 8 tweets
The Medicare DIS-Advantage Plans...
Many seniors are being lured into Medicare Advantage Plans due to the added benefits of hearing, dental, and gym membership coverage. Image
These plans are actually run by private insurers and actually quite profitable for insurance companies with profit margins of 5% or greater (industry average is 4%) khn.org/.../medicare-a…
Further these plans have the added problems of:
1) Narrow Networks - in fact, many of the most prestigious cancer centers in the country are excluded from these plans. Oddly enough 60% of Cancer diagnoses are in Medicare aged individuals... cancer.gov/about.../cause…
Read 6 tweets
Term #insurance premiums are all set to rise by up to 40% by December.

Here's why.👇(1/n)
For starters, #lifeinsurance companies had a pretty rough year- they shelled out more in COVID-19 claims during the first quarter of 2021 than in the whole of 2020.

In fact, during the second wave of COVID, insurers saw life claims mounting by 5–10 times.
And this kind of stress isn’t good. Because insurance companies (much like people) can’t pay for all these expenses out of pocket. They need insurance too. And the people that insure them i.e. re-insurers are now contemplating drastic action.
Read 7 tweets
How a botched surgery cost two doctors ₹28.5 Lakhs

In March 2010, a woman from Dombivali Mumbai, sought relief from severe body ache and exhaustion. She subsequently contacted two doctors for her treatment.
(1/9)
Little did she know she was about to be pulled into a decade-long legal battle.

She alleged that the doctors performed surgery on her without her permission and without explaining the risks involved. Moreover, the surgery led to permanent damage to both of her ureters.
(2/9)
In 2012, she filed a complaint against the two doctors with the State Consumer Disputes Redressal Commission.

Her complaint further stated that she had to get another surgical procedure with a different doctor a year later.
(3/9)
Read 9 tweets
@FemInt - there are already significant discrepancies in the kinds of insurance products available (both in terms of options and costs). Brisbane has more options and lower costs than Cairns, folks on some islands have no options at all #GriffithClimateAction #insurance
@FemInt I'm wondering about the responsibility of local governments and planners in this - approving developments in areas that are likely to rapidly become uninsurable? #GriffithClimateAction #COP26
@FemInt Great to be hearing from Lucy Graham from @cafnec, reminding us that this conversation about insurance slides into quick irrelevancy if we stay on the (woefully irresponsible) mitigation pathway we're currently on #GriffithClimateAction #COP26 #ScottMorrison
Read 7 tweets
People and Corporations show you who they are... We choose to believe them!

Ohhhh the irony, two of the bad actors (insurance companies and private equity) that are inflating medical costs and harming patients and healers are suing each other and exposing to us all just a
glimpse of the deception/exploitation/greed that these corps have been using to put profits >>> patients.

United is suing Team Health (owned by the private equity Blackstone group) for over coding and thus overcharging patients by $100 million.
Fremont Emergency Medicine (an affiliate of Team Health) is suing United for their gross underpayment of frontline clinicians.

It's likely that to some extent both are true...

Private Equity is harmful to patient care because they often boost their own profits by
Read 8 tweets
No, no thanks, no gracias, not in a million years, never ever…

No Optum I do not want to be apart of your racketeering swamp of vertical integration.

Let’s talk about some Optum facts:
Optum is now the single largest owner of Physicians.
Optum is a subsidiary of United Health Group.

In Q2 of 2021 UHG made $4.3 billion in profits and $71.3 billion in revenue.

UHG stock share prices have grown 2200% (from $20.02 to $460.47) since Nov 2008.
Two of the main ways UHG makes such massive profits is to deny payments to physicians for services rendered (I hear from physicians everyday that this happens to) and because their PBM OptumRx uses spread pricing to inflate the cost of medications their members purchase
Read 5 tweets
"The Healthcare System breed passivity and dependence..." ~ Steve Forbes
The main ways that the hospitals and insurance companies do this is to:
1) Hide their prices
2) Make it complex to understand
3) Build rapport to enlist trust in patients that they will be taken care of
However what we see everyday is that these folks use deception, complexity, narrow networks and many more tactics to make it difficult and complex for patients to get any benefit from their health insurance.
Where health insurance is difficult and complex, Medical Cost Sharing
is simple and easy.
You make a monthly contribution, you have an initial unsharable amount, and you can choose any doctor you want! #simple #easy
Check out our website selfdirectedmedical.com for more information about how you too may be able to find your Checkmate
Read 5 tweets
#Starbucks is the world's largest coffee chain, with 300,000+ employees in over 30,000 retail locations, earning billions of dollars in revenues every year.

But did you know it spent more on employee healthcare than coffee beans? (1/8)

Thread. 👇
The year is 2008, the world is going through a recession and after an 8-year premature retirement, Howard Schultz (Ex-CEO at the time) returns back to take the reins of a struggling Starbucks. (2/8)
The recession had been hard on Starbucks, the promising giant that Howard had left in 2000 had turned into a money bleeding behemoth.

Things were so tense that Howard had to lay off 6,700 employees and close down 600 stores. (3/8)
Read 8 tweets
Lessons you can incorporate in your #financialplanning from one of the greatest texts on warfare and military strategy- the Art of War by Sun Tzu.

Thread.🧵 Image
Sun Tzu believes the general that makes many preparations prior to a battle is victorious. Image
Plan your finances with proper research and due diligence, and you've already won half the battle. Image
Read 9 tweets
Dear @OptumRx & @SanfordHealth you are NOT his #physician. You know nothing of his #health hx. Two years ago #Sanford #Bismarck #pain clinic pulled all #patients off #opioid #pain medications. This was not #patientcentered care, but care deemed appropriate BY administrators 1
Now @OptumRx & @SanfordHealth #insurance sending out letters re #opioid #pain #medications. My son had to move from a #Sanford clinic to another clinic due to #abandonment. Yep, abandonment. Plain & simple what you did was harmful & not based on #patients needs. You need 2
to look at research, that shows the harms of what u r doing. @SanfordHealth administration in Bismarck informed me 2 years ago when all #patients pulled off #opioids that it was the ‘national standard’ of care established by @CDCInjury @CDCDirector. The guidelines are NOT 3/
Read 9 tweets
Insurers can REJECT your claim if your disease treatment falls under a "waiting period"

Here are the key things you need to know about waiting periods in your health #insurance policy.

A thread. (1/8)
💡| As the name suggests, waiting periods in health insurance is quite literally the amount of time you need to wait, for an insurance policy to cover your diseases.

But since it’s insurance, it’s not that simple.

There are mainly 3 types of waiting periods...(2/8)
(1) Initial 30-day waiting period:

~This waiting period is only so that insurers can make sure that someone doesn’t take a policy after they get sick.

~Accidents (since they are unpredictable) & COVID (waiting period could be 15 -30 days) are exceptions. (3/8)
Read 8 tweets
Does your health #insurance cover alternative treatments like Homeopathy, Ayurveda, Unani etc?

Find out.👇(1/6)
Picture this. You’re pushing 50 and you feel drained each day. Your physician tells you there's nothing wrong, but you're still unsatisfied.

One of your relatives happens to suggest visiting a government-certified Ayush Centre. What's that, you wonder...(2/6)
Here's what AYUSH implies:

(3/6) Image
Read 6 tweets
Is Amazon Becoming an #Insurance Company?

A thread.🧵(1/8)
Amazon has just announced insurance cover for Small & Medium Enterprises (SMEs) in the UK.

This is Amazon’s first foray into the insurance selling business, and we cannot be more excited. (2/8)
Amazon is only offering business-related insurance services, like protecting a company’s assets, providing coverage for cyber security as well as professional indemnity for now, but we believe this move has greater implications to the insurance industry as a whole. (3/8)
Read 8 tweets
Does your health #insurance cover Doctor visits?

Thread👇 (1/8)
Everybody visits the doctor at least once a year. But the doctor you visit — Her consultation fee is off the roof. A routine inspection could set you back thousands. (2/8)
So you come up with a genius plan. You decide to buy insurance and opt for a policy that reimburses all expenses incurred during these visits.

You look for options that include outpatient consultation benefits and you find one after a couple of minutes of search. (3/8)
Read 8 tweets
As the U.S Congress inches closer to the historic legalization of weed at the federal level, there is one industry that is all geared up to witness a potential 10X increase in sales.

And that’s #insurance.

How so?👇 (1/8)
Well, several US states have already legalized marijuana for medical or recreational purposes.

But strict federal laws that criminalized it has prevented the insurance industry from extending services to cannabis businesses - growers, testing labs, and retailers. (2/8)
But it's not that marijuana farmers do not get insurance at all. Insurance in the US is state-regulated, which means farmers do get insurance in states where it is legal. (3/8)
Read 8 tweets
Here's a simple checklist to make sure YOUR health #insurance claims don't get rejected.

A thread.👇 (1/11)
1.) Be Honest Guys

The most helpful thing you can do for your health insurance is being honest when you're buying it.

A mistake in revealing your pre-existing diseases or not mentioning your medical history can lead to rejection & even termination of your policy (2/11)
2.) Check Exclusions
There’s no policy in the world that will offer to cover everything. So, the things an insurer can’t cover is spelled out clearly in the exclusions list... (3/11)
Read 11 tweets
Would you consider a friends-with-benefits arrangement…

...for #insurance?

A thread. 👇(1/9)
There’s this concept called “peer-to-peer” in insurance that does just that.

A concept popularized by Friendsurance in Germany, here, the P2P company collaborates with an insurance company to create a group of customers, or friends, that all buy the same insurance policy. (2/9)
The premiums are pooled together & divided into two parts: A part of your group’s premiums are given to the insurer & the rest is pooled and kept with the P2P company to settle small claims.

At the end of the year if any money is left, each member gets the money back. (3/9)
Read 9 tweets
🇭🇰Hang Seng Index drops 1.1% in the morning session in #HongKong, with Ping An Insurance down 5.4%.

🇸🇬FTSE China A50 index futures traded in #Singapore fall nearly 2% in the morning session.
#StockMarket #PingAn
Hang Seng Index continues to decrease rapidly, down 2%.
#HongKong #Hangseng #StockMarket
China #Pingan shares in Hong Kong drop as much as 6.8% on Monday though the company said PA insurance funds have zero exposure, neither equity nor debt, including China #Evergrande, other investment exposures risks are under control.
Read 11 tweets

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