Nevada’s health care industry is performing well; Health care consumers, not so much – Nevada Current

Nearly two-thirds of Nevadans experienced the burden of health care affordability in 2022, dropping health insurance, struggling to pay medical bills, and increasing medical visits for dental care, addiction treatment, and mental health care. Delayed.

However, the health care industry was performing well in 2022, according to a recent analysis The report was released in late November by the United States of Care, a non-partisan nonprofit dedicated to improving access to quality health care.

Health care premiums in Nevada increased at a much higher rate than the cost of covered insurance claims, contributing to Record breaking health insurance company profits, The Nevada Department of Insurance (DOI) does not oversee provider and hospital rates, but does oversee the rates of small group and individual insurance plans in Nevada.

And revenue from patients at Nevada hospitals outpaced operating expenses, according to an analysis by United States of Care, a nonpartisan nonprofit dedicated to improving access to quality health care, released in November.

The conclusions are stark. You see on one hand people who are really struggling very deeply with affordability and on the other hand, you have a health care industry that is making profits and doing very well financially, Liz Hagen, director of policy solutions at United States of Care, said in an interview.

Nevada’s insurance companies and hospitals both saw profit margins exceed 15%, according to the report.

The state’s largest private health insurance companies, UnitedHealth Group, Centene and Anthem Blue Cross Blue Shield, are some of the most profitable Fortune 500 companies. According to the report, UnitedHealth Group made $28.4 billion in national profit in 2022, up 19% from 2021.

In addition to revenue from the individual insurance market, the three companies cover 900,000 Nevadans who pay Medicare Advantage plans, each estimated to have sales of $2 billion. They also cover 46% of Nevada with employer coverage.

UK representativeKnightedHealth Group, Centene and Anthem Blue Cross Blue Shield did not respond to requests for comment.

Compared to the rest of the country, the Nevada hospital industry is substantially more privatized. At 55.3%, the state ranked 13th in terms of the highest percentage of for-profit hospitals, according to 2021 data, the most recent cited. Analysis By United States of Care.

The analysis cites this as one of the reasons for high health care costs in the state, noting that despite the COVID-19 pandemic disrupting hospital operations, the hospital received federal relief funding The help improved the economy financially and reduced revenue from for-profit hospital patients. The state has outgrown the amount it spends on operations.

Sunrise Hospital & Medical Center, owned by Hospital Corporation of America, the largest for-profit health system in the United States, charges patients the second-highest actual cost of care of any hospital in the country. Average bill mark-up rate 12.9.

Representatives for Sunrise Hospital and Medical Center did not respond to requests for comment.

These profit margins do not translate into better care, with Nevada ranking 41st in overall health system performance, and last in prevention and treatment, according to the report. Nor will the poor ranking translate into stable prices in 2023, with Nevada consumers facing a 9% increase in health insurance premiums, according to the report.

The rising costs of health care also impact other aspects of life, with higher hospital bills and health premiums also used to justify the increase. car insurance premium And according to KFF, health care debt has increased, causing people to cut back on other household expenses, reduce savings, skip paying other bills, or delay attending college. Having to buy a house or changing your living situation. A non-profit foundation that conducts research, journalism, and communications programs on health care.

There have been some state-level efforts to ease the affordability crisis in Nevada health care, including Prescription drug prices and develop one health care development benchmark Through the Patient Protection Commission.

State lawmakers have laid the groundwork for creating a public option health insurance program designed to provide coverage at low cost. However, when applying for the federal waivers necessary to implement the public option, the administration of Governor Joe Lombardo preferred federal funding for the reinsurance program over insurance companies.

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