How US Health Insurers Got 2025 Numbers So Wrong
Every year, number crunchers at US health insurance companies look at their enrolled populations and calculate how many of them will break their arms, require a heart stent or be diagnosed with cancer. They use these figures to determine how much to charge in premiums to be able to cover patients' medical issues and still make a profit.
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Fast Company
an hour ago
- Fast Company
6 tips for managing out-of-control medical bills
BY Listen to this Article More info 0:00 / 6:51 Several years ago, I received a bad medical bill: $150 for an in-network doctor's appointment that my health insurance was supposed to cover with a $30 co-pay. After multiple long and frustrating phone calls over several weeks—during which time nothing was resolved—I gave up and wrote a check for $150. That experience convinced me that medical billing is confusing and error-ridden on purpose. Recent research backs this up. A staggering 80% of medical bills contain errors, most of which are easily preventable. Under our current medical billing system, patients face a horrible catch-22: They can spend money on error-ridden bills or they can spend time getting them corrected. (If they have neither money nor time, then their bills may go to collections.) Covering medical costs under an intentionally confusing system will always be an uphill battle. But until we change how we pay for healthcare as a society, here's what you can do to make medical bills fit better into your personal budget. Take your time paying medical bills Some healthcare providers may send a bill to you before your insurance company has had time to process your claim. If that's what has happened, your balance owed will look much higher than you expect. In that case, the bill may have a blank spot in the section labeled 'insurance payment' or 'plan payment.' Waiting to pay that bill until the insurance has come through will ensure you only pay what you owe. But this isn't the only reason you may want to wait before paying a medical bill. If you expect to receive multiple bills because of a lengthy stay in a hospital or repeated specialist visits because of a particular health issue, it can also be a good idea to hold off on paying until you have received all of the related medical bills. This will allow you to double check that you have not been double-billed for any procedures or services before you start making payments. You don't need to worry that waiting to pay will affect your credit. The time period before unpaid medical debt is reported to the three major credit bureaus was increased from six months to 1 year as of 2022. And as of 2023, medical debt under $500 is no longer reported to the credit bureaus. Request an itemized bill If you had multiple services, your bill may not list them all. Instead, patients often receive a summary bill that lumps all of the charges for services together. But it's impossible to tell if there are any errors in a summary bill, which is why you should request an itemized bill if you don't receive one. While hospitals generally will not send one without being asked, receiving an itemized bill upon request is one of your rights as a patient. The hospital is legally required to send it within 30 days of your request. Also known as a ' superbill,' the itemized bill lists each medical billing procedure code, the amount paid by insurance, and the amount you owe. Check for mistakes With the itemized list in front of you, check for mistakes. Some of the common errors you might find include: Services or procedures erroneously listed multiple times Procedures listed that you didn't receive Charges listed that have already been paid Amounts charged that are above legal limits Charges for more expensive procedures than what you received You may need to look up medical billing codes to make sense of the itemized bill. These codes can generally be found online by typing in the code with the term 'medical billing code.' You can compare the description of the procedure you find online with your bill to see if the codes match the healthcare you received. Don't forget basic fact-checking Unfortunately, some of the most frustrating medical billing problems may stem from getting a basic fact wrong. An incorrect birthdate, patients with similar names, or someone accidentally transposing two numbers in a patient's street address could be enough to trigger an insurance claim denial. While you are checking medical bills for mistakes, make sure you're also looking at your personal information, including your birthday, billing address, date of healthcare service, medications, and other details. Ask your medical provider for a price break Just because the final charge you receive looks more like a phone number than a bill doesn't mean you have to pay that amount all at once. Many doctors accept payment over time with a payment plan and provide a no-fee method of making monthly payments. Providers may alternatively forgive a portion of your bill if you can make an immediate, smaller payment. It's important to remember that doctors are not well served by the medical billing system, either. Doctors often sell medical debt to a collections agency after 90 days of delinquency—but for a fraction of what's owed. Which means medical providers would rather work with a patient to avoid losing money by sending the debt to collections. Partner with a patient advocate Having to navigate all of this while simultaneously recovering from injury or illness seems like the kind of dystopian nightmare that Suzanne Collins would consider a bit over-the-top. Thankfully, help is available via patient advocacy, and there's no fight-to-the-death requirement to access it. Patient advocates work to help patients navigate the healthcare system so they can get the best care for their needs. This includes helping patients to understand and manage their medical bills. To find a patient advocate, start by calling your hospital. Many hospitals have advocates on staff who can help you with the process of understanding your bills, correcting medical billing errors, and applying for financial assistance. Alternatively, you can search for a patient advocate or representative online. Check for advocacy groups that help with medical bills in your state or for patients with a specific condition or disease that you have. If you have a chronic or life-threatening illness, the Patient Advocate Foundation is a nonprofit organization that can help you get and pay for care. Navigating the broken system Medical billing is not set up for clarity, low cost, or ease of use. When a patient gives up and pays more than they owe, the system is (most likely) working as intended. And until collectively we decide to change it, we are stuck with a system that requires an investment of time to avoid overpayment. Until that happens, knowing your rights as a patient can help keep you from making costly mistakes with your medical bills. That includes the right to take up to a year to repay your medical bills before they are reported to the credit bureaus and the right to request itemized charges. In addition, keeping an eye out for mistakes, which are incredibly common, can help you avoid overcharges. Finally, ask your medical provider for any discounts or payment plans they offer, and partner with a patient advocate so the burden isn't entirely on your shoulders. The early-rate deadline for Fast Company's Most Innovative Companies Awards is Friday, September 5, at 11:59 p.m. PT. Apply today. ABOUT THE AUTHOR The daughter of a financial planner, Emily Guy Birken never stood a chance: Try as she might to avoid her destiny (undergraduate degree in English with a focus on creative writing at Kenyon, MEd from The Ohio State University, teaching, motherhood), her innate fascination with money turned her into one of the most compelling and relatable writers on personal finance.. Based in Milwaukee and a regular guest on Wisconsin Public Radio, she has written for The Washington Post, USA Today, and many other publications and websites More
Yahoo
2 hours ago
- Yahoo
15 Minutes of This Exercise May Lower Mortality Risk by 19%, New Study Says
Reviewed by Dietitian Mandy Enright, M.S., RDN, RYTKey Points A new study found that 15 minutes of fast walking each day may lower mortality risk by 19%. Fast walking lowered overall mortality risk and had an especially large impact on heart health-related deaths. While slower walking can be a great form of exercise, smaller quantities of fast walking may offer extra is one of the simplest and most effective ways to boost overall health, as it can offer benefits like reduced mortality, improved blood sugar levels and better heart health. Studies suggest that even light walking can have a positive impact on outcomes like reducing blood pressure. But most research on walking focuses on middle-to-high-income white populations, leaving gaps in understanding how walking impacts low-income and racial minority groups. These populations often face unique challenges, such as limited access to safe walking spaces, higher exposure to pollution and barriers to healthcare, all of which can contribute to higher mortality rates. To address the lack of research on walking in underserved communities, scientists used data from the Southern Community Cohort Study (SCCS) to explore how daily walking impacts overall and specific causes of mortality, and the results were published in the American Journal of Prevention Medicine. How Was The Study Conducted? This study enrolled about 85,000 participants aged 40 to 79 from the Southern Community Cohort Study (SCCS), focusing on individuals who had not undergone cancer treatment in the year prior to joining. The SCCS is a large study focused on understanding why racial disparities exist in cancer and other chronic diseases, particularly in low-income populations. What makes this study unique is that over half of the participants reported earning less than $15,000 a year, and about two-thirds of them are Black. This diverse group offers a rare chance to examine how daily walking affects health outcomes in low-income, racially diverse populations. At the start of the study, participants completed detailed questionnaires covering their daily walking habits, lifestyle choices and medical history. Participants reported how much time they spent walking each day, distinguishing between slow walking (e.g., walking the dog or light exercise) and fast walking (e.g., brisk walking or climbing stairs). They could report anywhere from 0 to 720 minutes per day, and their responses were grouped into four categories: no walking, less than 30 minutes, 30-60 minutes and more than 60 minutes. These categories align with health guidelines recommending at least 30 minutes of daily activity. The study also explored fast walking in smaller increments (e.g., 15-minute intervals). In addition to walking, the study measured five key lifestyle factors linked to mortality: smoking, alcohol use, physical activity, sedentary behavior and diet quality. These factors were combined into a composite lifestyle score, with higher scores indicating healthier lifestyles. The study tracked participants' vital status and causes of death through the National Death Index until December 31, 2022. Deaths were categorized into major causes, including cardiovascular disease (CVD), cancer, other diseases and external causes like accidents. Specific types of CVD, such as heart disease and stroke, were also analyzed due to their prevalence. This comprehensive approach allowed researchers to examine how daily walking and lifestyle factors influence overall and cause-specific mortality in a diverse, low-income population. What Did This Study Find? The study found that, among the studied population, fast walking was significantly linked to lower overall mortality, while slow walking showed only a slight, non-significant benefit. For those who walked slowly for more than three hours a day, there was a 4% lower risk of death, but this result wasn't strong enough to be considered statistically significant. On the other hand, fast walking showed clear benefits; even just 15 minutes a day was associated with a 19% lower risk of death. When researchers accounted for other lifestyle factors like diet, smoking and physical activity, the benefits of fast walking remained strong, while the slight benefits of slow walking became even less noticeable. Overall, fast walking stood out as a simple and effective way to reduce the risk of death. Additional analyses confirmed the findings, showing consistent results for the link between time spent walking (both slow and fast) and overall mortality, even when including participants who died within the first two years. Fast walking showed similar patterns of reduced risk across all specific causes of death, but the strongest benefits were seen for cardiovascular disease (CVD). People who walked fast for more than 60 minutes a day had a 20% lower risk of dying from CVD compared to those who didn't walk at all. Within CVD, the biggest reductions in risk were seen for heart diseases, particularly ischemic heart disease and heart failure. Interestingly, the benefits of fast walking were independent of other physical activities, meaning fast walking provided its own unique health boost. Even for individuals who were already active, those who walked fast for more than 60 minutes a day saw additional benefits, with a 16% lower risk of death compared to those who didn't walk fast at all. There are a few limitations to keep in mind when interpreting these results. First, since participants reported their own daily walking habits, some may have included other activities like climbing stairs, which could lead to some misclassification. Second, physical activity data was only collected at the start of the study, so it wasn't possible to see how changes in activity over time might affect the results. Additionally, because this was an observational study, it's hard to completely rule out other factors, like pre-existing health conditions or unmeasured influences, that could have impacted the findings. How Does This Apply To Real Life? This study highlights that walking, especially fast walking, can be a powerful tool for improving health and reducing the risk of death, even with just 15 minutes a day. For people who may not have access to gyms or structured exercise programs, walking offers an easy, low-cost way to stay active. The findings are particularly important for underserved communities, where barriers like limited access to safe walking spaces or healthcare can make it harder to prioritize health. The study also emphasizes that fast walking has unique benefits, even for those who are already active or engage in other forms of exercise. This means that adding a brisk walk to your daily routine can complement other activities and provide an extra health boost. Whether it's a quick walk around the block, climbing stairs at work, or picking up the pace while walking the dog, these small changes can add up. The key takeaway? You don't need fancy equipment or hours of free time; just lace up your shoes, pick up the pace and let your feet do the work for your health. Our Expert Take This study published in the American Journal of Prevention Medicine highlights that even small amounts of fast walking (just 15 minutes a day) can make a meaningful difference in overall health and longevity. For those where access to gyms or safe exercise spaces may be limited, this study offers an encouraging and accessible way to improve health outcomes. The findings also underscore the importance of making walking a part of daily life. Whether it's a brisk walk to the store, a quick loop around the neighborhood or simply picking up the pace during your usual routine, fast walking is a simple, low-cost activity with big health payoffs. Grab your sneakers, step outside and start reaping the benefits—your heart (and the rest of your body) will thank you. Read the original article on EATINGWELL
Yahoo
4 hours ago
- Yahoo
Citi Remains Bullish on Sana Biotechnology (SANA)
Sana Biotechnology, Inc. (NASDAQ:SANA) is one of the best biotech penny stocks to buy right now. Citi analyst Samantha Semenkow maintained a bullish stance on Sana Biotechnology, Inc. (NASDAQ:SANA), giving it a Buy rating on July 2 with a $15 price target. A scientist working with a microscope in a laboratory, focusing on a cell of a medical experiment. The analyst based the rating on Sana Biotechnology, Inc.'s (NASDAQ:SANA) potential in addressing notable market opportunities. Semenkow stated that the company's Type 1 Diabetes (T1D) program has exhibited considerable proof-of-concept results, with updated six-month data showing durable c-peptide production and successful graft survival without the need for immunosuppression. According to the analyst, this data consistency bolsters confidence in Sana Biotechnology, Inc.'s (NASDAQ:SANA) approach and paints a positive picture for its T1D asset, SC451, anticipated to make progress towards an IND as early as 2026. The same day, Morgan Stanley analyst Maxwell Skor also assumed coverage of Sana Biotechnology, Inc. (NASDAQ:SANA) with an Overweight rating and $12 price target. The analyst expects an investigational new drug filing as early as next year for its proprietary HIP-modified, islet stem-cell derived T1D therapy, SC451. Sana Biotechnology (NASDAQ:SANA) is a biotechnology company that specializes in using engineered cells as medicines. It develops cell engineering programs that transform treatment across several therapeutic areas with treatment gaps, including diabetes, oncology, the central nervous system, and B-cell-mediated autoimmune disorders. While we acknowledge the potential of SANA as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
