RIP RBG; ACA At Bigger Risk.

With the death of justice Ruth Bader Ginsburg, Commonwealth Fund’s Timothy Jost writes that the ACA is more at risk than it was just a week ago. Here Jost parses the odds that health insurance will be thrown into a state of chaos.

Looks Like COVID-19 is Aerosol Transmission

Scientists worldwide and many health experts have been saying this for quite some time: COVID-19 appears to be airborne. That is, it’s most easily transmitted through coughing, sneezing, shouting and singing. On Friday evening the CDC said this on its website — and then abruptly took it down. Read about that controversy here.

COVID-19 Disproportionately Impacts Some; Entire System Will Feel It

A recent report by healthcare consulting firm Avalere finds that COVID-19 is taking a greater toll on some communities:

“The loss of employer-sponsored insurance is expected to disproportionately impact the Black and Hispanic populations,” said Angel Valladares, a consultant at Avalere and an author of the report. “These shifts will further exacerbate the pre-existing disparities in coverage before the coronavirus outbreak.”

Researchers warn, however, that it won’t be the problem of merely some. They say the entire health delivery system will suffer because of it. Read more here.

LIFE

Life Insurance Sales Force: The Ups and Downs

The pandemic has had a significant impact on most industries, including life. LIMRA and LOMA have been looking into how the pandemic is impacting jobs in the life insurance industry, including advisor and home office employee candidates. During the first six months of 2020, field assessments are up over 18% from 2019, while home office testing is down 40%. These trends are consistent with prior economic downturns.

Home offices reduce testing as they cut expenses, hire fewer people and possibly even cut staff. At the same time, as unemployment rates go up, more people are open to field sales. Therefore, field offices test more candidates for potential fits. LIMRA/LOMA note that candidates for the field assessments are coming from industries suffering the most job losses now, such as hospitality, transportation and health care. In fact, testing from the hospitality sector is up 100% over the first six months of 2019; transportation is up 31%; and health care is up 21%. Having more candidates doesn’t, however, mean increased field agents brought into the industry. According to prior LIMRA research, the number of recruits contracted for career agent positions is down 18% from the first half of 2019. One reason for delays in onboarding could be that shutdowns from the current pandemic have hampered new-agent licensing and background checks.

EMPLOYEE BENEFITS

New Regs for COVID-19

Looking for guidance regarding COVID-19 and the workplace? Look at State of California’s Department of Industrial Relations COVID-19 Infection Prevention Requirements.

Employers are now required to notify local public health agencies of all workplace outbreaks, which are defined as three or more laboratory-confirmed cases of COVID-19 among employees who live in different households within a two-week period

That’s just a small sample of what you’ll find there. Check out the complete doc here.

COVID-19 Impacts Pension Plans

The American Academy of Actuaries has published a new issue brief on COVID-19 and its impact on pension plans. Highlights include:

• The effects of the pandemic on the economy, on workforce patterns, and on plan sponsors’ budgets are likely to be far more financially significant to most pension plans, at least in the near term, than the effect on mortality (which represents a potential reduction in pension costs). There is expected to be wide variance among the plans themselves, regardless of whether they are private sector, multiemployer or public plans.
• As plan experience and medical research unfold, actuaries will be able to incorporate this information as they consider both short- and long-term effects on actual plan experience and future economic and demographic assumptions.

Read the whole report here.

VISION

MetLife Acquires Davis and Superior Vision

MetLife, Inc. announced it has entered into a definitive agreement to acquire Versant Health from an investor group led by Centerbridge Partners and including FFL Partners for approximately $1.675 billion in an all-cash transaction. Versant Health owns Davis Vision and Superior Vision. Following the acquisition, MetLife will gain access to Versant Health’s roughly 35 million members, and MetLife’s existing customers will gain access to Versant Health’s extensive provider network, which is one of the largest in the industry. The acquisition will establish MetLife as one of the top-three companies in the U.S. Managed Vision Care Industry

INSURTECH

FINEOS Aquires Limelight

PEOPLE

Guardian Names McMahon CEO, Mulligan to Serve as Board Chair Until Year End

The Guardian Life Insurance Company of America’s Board of Directors has announced that Andrew J. McMahon will become chief executive officer and president on October 1 and has joined the board. He succeeds Deanna M. Mulligan, who will serve as board chair through year-end, when she will retire after leading the company for a decade. These appointments are consistent with the company’s leadership transition plan announced in May. McMahon joined Guardian in 2017 as executive vice president, strategy and customer development, and took on leadership of the individual markets business in 2019. He was named president last November, and successor to Mulligan in May.

EVENTS

• LAAHU’s Zoom Happy Hour is the first Wednesday of the month from 4-5p.m. Members and nonmembers welcome. Register here.
  

• NAIFA-Los Angeles, Virtual Health Forum, September 25 Info and registration here.