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Walt Bernard Podgurski,  Editor,  440-773-1108, 

Friday, 05/08/20
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The "Daily Insurance Report" is now subscribed to by 25,000 elite insurance industry influencers who receive it Monday - Friday and have a quick overview of what is appearing in the media regarding the insurance industry; with an emphasis on life, health, and employee benefits. The "Daily Insurance Report" publishes the life insurance, health insurance, and employee benefits news that matters.

The Future of Voluntary Benefits
Jeff Graves, Founder, The Orientation Company

What will our industry look like in 2030? It’s likely that voluntary benefits will be considered the most critical and valuable benefits offered to employees. Employees will get to pick the specific benefits that are most important to them and their family members.

In the future, Employer-Contributed, Government-Subsidized Insurance is coverage you expect as a valued employee. You work hard. You attend meetings, but not in a typical office setting. Your handheld device makes 2020 technology seem as antiquated as the 1980’s Motorola brick cell phone, complete with antenna. Your phone is your computer and your portal to your daily life, from work to home, personal accounting to entertainment. Retinal scanning connects all your devices.

Everyday life is efficient and modern, but bad things still happen. Suffering, loss, and illness will never be eradicated.

The banking, insurance, and investment products industries have merged into what we call the risk industry. Counselors are experts in risk, from genetics to finance.

In 2030, law mandates that risk products be bound by human conversation rather than artificial acknowledgment. The disastrous tech glitch of 2028 exposed the incredible value of our Risk Experts (formerly known as Benefit Counselors). As predicted, technology is no replacement for caring humans who can help guide people and share plans tailored to individual needs.

When the Risk Expert trade schools opened in 2023, young people flocked to the business of risk management. Like in the healthcare industry, these Risk Experts now have a place where they can make a difference. These insurance enrollment meetings are accomplished face-to-face, virtually.

Though it isn’t 2030, this vision fits our current model. As the nation responds to the COVID-19 pandemic, we find our model is well-suited to meet the needs of the employment challenges ahead.

Carriers, enrollment firms, vendors, and industry thought leaders must anticipate how the industry will evolve over the next decade. How will you adapt, remain relevant, and most importantly, add value? And with whom will you align?

Jeff Graves is a founding member of The Orientation Company, a leading decentralized, virtual engagement organization focused on helping large employers and their consultants creatively enroll employees in their health & welfare programs. If you’re interested in exploring how The Orientation Company can help you plan for your future, visit www.theorientationcompany.com.

Trump says administration will continue legal fight to eliminate Obamacare
By Nikki Carvajal / CNN

President Donald Trump said Wednesday his administration will continue to push the Supreme Court to invalidate the Affordable Care Act, defying a last-minute request from Attorney General William Barr to modify the administration's position.

"We're not doing anything. In other words, we're staying with the group, with Texas and the group," Trump told reporters in the Oval Office.
As it stands now, the Trump administration position fully backs the lawsuit filed by a group of Republican states seeking to invalidate the entire Affordable Care Act.

"Obamacare is a disaster, but we've run it very well, and we've made it barely acceptable," Trump said. "It was a disaster under President Obama, and it's very bad health care. What we want to do is terminate it and give health care. We'll have great health care, including preexisting conditions."
Trump said the administration had "already pretty much killed it because we got rid of the individual mandate."

On Tuesday, CNN first reported on Barr's push to persuade the administration to modify its position in the Obamacare dispute that will be heard at the Supreme Court this fall, arguing that the administration should pull back from its insistence that the entire law be struck down.

With a Wednesday deadline to make any alterations to its argument looming.

AHA Report: Covid-19 will cost hospitals more than $200B
By ELISE REUTER / MedCity News

Hospitals are expected to lose more than $200 billion as a result of the Covid-19 pandemic, according to a report released Tuesday by the American Hospital Association (AHA). The report came out as hospitals are pushing for additional funding from Congress to cover support for healthcare workers and treatment costs for uninsured patients.

Congress initially set aside $100 billion for hospitals as part of the CARES Act. HHS has made plans for where it will distribute the majority of those funds, including some targeted payments to hospitals in Covid-19 hotspots and rural hospitals. Congress has since allocated another $75 billion for hospitals.

“While we appreciate the support and resources from Congress and the Administration, many hospitals are still on the brink,” AHA CEO and President Rick Pollack said in a news release. “We need further support and resources to ensure that we can continue to deliver the critical care that our patients and communities are depending on while also ensuring that we are prepared for the continuing challenges we face from this pandemic as well as other potential emergencies.”

CVS' goal of opening 1,500 HealthHubs on track despite pandemic

Despite the COVID-19 pandemic, CVS Health said its plan to open 1,500 HealthHub stores by the end of 2021 is on track, according to Forbes healthcare contributor Bruce Japsen.

CVS said that the pandemic may affect some openings planned for this year as construction has slowed, but the company is not changing its plan to open 1,500 by the end of 2021.

CVS opened 50 HealthHub stores in the U.S. last year, and was planning to open another 600 to 650 in 2020 before the pandemic spread in the U.S.

CVS Health CEO Lary Merlo said that about 100 HealthHubs are operating currently.

HealthHubs are CVS' redesigned health-focused concept stores that have space dedicated to helping customers manage such chronic conditions as diabetes, hypertension and asthma.

SBA issues PPP guidance on laid-off employees who refuse to be rehired
By Jeff Drew / Journal of ACCOUNTANCY

According the guidance, SBA and Treasury plan to issue a new rule excluding laid-off employees whom the borrower offered to rehire (for the same salary/wages and same number of hours) from the loan forgiveness reduction calculation spelled out in the $2 trillion Coronavirus Aid, Relief, and Economic Security (CARES) Act, P.L. 116-136, which authorized Treasury to create the PPP through the SBA's 7(a) lending system.

The interim final rule will specify that a borrower may exclude an employee from loan forgiveness calculations if the borrower made a good-faith, written offer of rehire and also documented the employee's rejection of that offer. The guidance does not specify what form that documentation should take.

Some employees have been turning down offers to be rehired for the same jobs for a variety of reasons, one of them being that they are making more money in unemployment benefits than they do in pay at their jobs because the CARES Act temporarily provides an additional $600 per week to people who have been approved by their state for unemployment insurance.

Advocates demand full benefits for city workers killed by coronavirus
By Tina Moore and Jorge Fitz-Gibbon / New York Post

Advocates for essential city workers are demanding the municipal employees killed by the coronavirus receive full, line-of-duty death benefits — even if it’s unclear whether they contracted the contagion on the clock or on their own.

With at least 245 city workers dead from the global pandemic so far, union leaders and elected officials are teaming up to demand that cops, firefighters and others who put themselves on the front lines of the battle against COVID-19 be treated as “line of duty” casualties.

Segal to Offer Club Vita’s Longevity Service to Plan Sponsors
Associated Press / BUSINESS WIRE

Club Vita, the international leader in longevity analytics, today announced an agreement with Segal, a leading employee benefits consulting firm. The relationship will bring Club Vita’s longevity risk reporting to Segal, whose clients include multiemployer trust funds, public sector plan sponsors, and corporate and not-for-profit employers. Segal actuaries will have access to Club Vita’s proprietary longevity analytics to assist with assumption setting. Segal clients in the US will also have the opportunity to engage Club Vita’s sophisticated approaches to measuring and managing plan longevity risk, including annual reporting.

Club Vita’s robust analytics enable a plan sponsor or its trustees to become better-informed about their pension or retiree health plan, while equipping their advisors with tools to more effectively counsel on strategy and tactics.


Monday - 05/04/20 - - University of Michigan is planning to offer Tuition Insurance for Ann Arbor students beginning fall semester, 2020

Tuesday - 05/05/20 - - Salesforce releases a set of new tools to help businesses and public agencies reopen safely

Wednesday - 05/06/20 - -  First Dollar raises $5 million for a consumer-friendly healthcare savings accountts eligibility requirements

Thursday - 05/07-20 - Britain’s Billion Dollar Babylon Health App Set To Launch For ‘Millions’ Of New Yorkers

Friday - 05-01-20 - - Do NOT Sell Life Insurance in Person: Pennsylvania

Editorial Mission Statement: The goal of this publication is to provide readers a broad selection of what is being written about the insurance industry and related issues. Some articles may have a “tilt” towards a particular perspective one way or another. Inclusion in this newsletter is not an endorsement of any views or content; but report the various and differing views appearing in media.
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Walt Bernard Podgurski - - Editor