Insurance

March 5, 2009 -- WASHINGTON, D.C. – Change to Win chair Anna Burger issued the following statement about today’s White House Forum on Health Reform, which was attended by various Change to Win leaders.

“There are few challenges we face as a nation that are as complex and consequential as fixing our health care system. With 14,000 more Americans losing their health coverage every day, we can no longer turn a blind eye to solving a difficult problem. Instead, we must work together to make the big reforms necessary to bring about real solutions and deliver quality, affordable health care for every man, woman and child in America.    » read more »

Governor Believes New York Should have Highest Quality Health Care System in the Country, Not Just the Most Expensive

March 5, 2009 -- A Policy Memorandum released today by Joseph Baker, Governor David A. Paterson’s Deputy Secretary for Health and Human Services, said that New York’s Medicaid costs are, by far, the highest in the country without providing the results patients deserve.

The health care proposals included in Governor Paterson’s Executive Budget will expand coverage and reduce costs, while providing better results for patients.

Baker writes: “New Yorkers deserve an honest, substantive discussion about why we have the most expensive Medicaid system in the country, but far too many in our State do not receive the quality health care they need.”    » read more »

Access to affordable, quality health insurance available to uninsured Floridians

March 5, 2009 -- TALLAHASSEE – Florida Governor Charlie Crist today encouraged Floridians without health insurance benefits to learn more about the Cover Florida Health Care Access Program during a two-day public awareness campaign focused on help available to Floridians during times of economic challenge. The health insurance plans make affordable, quality health insurance coverage and access to health care available to Florida’s nearly four million uninsured applicants age 19 to 64.    » read more »

NEW YORK--Mar. 5, 2009-- American International Group, Inc. (AIG) today announced that on March 4, 2009, it issued 100,000 shares of Series C Perpetual, Convertible, Participating Preferred Stock to the AIG Credit Facility Trust, a trust established for the sole benefit of the United States Treasury. This issuance results in a change of control of AIG, as the Series C Preferred Stock holds approximately 77.9 percent of the aggregate voting power of the AIG common stock, treating the Series C Preferred Stock as converted.    » read more »

Three out of Four of Those without Health Coverage Were Uninsured for at Least Six Months

March 4, 2009 -- Washington, D.C. – Approximately 86.7 million Americans—one out of three people (33.1 percent) under 65 years of age—were uninsured at some point during 2007-2008, according to a report released today by the health consumer organization Families USA.

The report, based on data from the U.S. Census Bureau and the Agency for Healthcare Research and Quality, shows that most of those who were uninsured lacked coverage for lengthy periods of time: nearly three-fourths (74.5 percent) were uninsured for at least six months, and almost two-thirds (60.2 percent) were uninsured for nine months or more.    » read more »

Washington, March 4, 2009 - The national commander of the Veterans of Foreign Wars of the U.S. wants the Obama administration to kill a controversial budget proposal that would bill veterans with private health insurance for the care they receive for their service-connected disabilities and wounds.

"It is unconscionable to pass along the costs of war to wounded and disabled veterans," said the VFW's Glen M. Gardner Jr., a Vietnam veteran from Round Rock, Texas. "This is one policy proposal that the VFW will work hard to defeat because it breaks a sacred trust that veterans have with their government."    » read more »

New Measures Will Reduce Debt Owed to Government, Strengthen Capital Base, Allow Time to Execute Restructuring Plan under Better Market Conditions; Emphasis on Reducing Risk Through Increased Transparency

NEW YORK--Mar. 2, 2009-- American International Group, Inc. (AIG) today announced a broad set of actions, taken in cooperation with the U.S. Department of the Treasury (U.S. Treasury) and the Federal Reserve, to improve AIG’s capital structure, protect and enhance the value of its key businesses, and position these franchises for the future as more independently run, transparent companies.    » read more »

Positioning Businesses for Future as More Independently Operated Companies; New Brand, Governance, and Leadership

NEW YORK--Mar. 2, 2009-- American International Group, Inc. (AIG) today announced that it intends to form a General Insurance holding company, including its Commercial Insurance Group, Foreign General unit, and other property and casualty operations, to be called AIU Holdings, Inc., with a board of directors, management team and brand distinct from AIG. The establishment of AIU Holdings, Inc. will assist AIG in preparing for the potential sale of a minority stake in the business, which ultimately may include a public offering of shares, depending on market conditions.    » read more »

AIG Positioning AIA as an Independent Operation; Move Part of AIG Restructuring Plan with Support of U.S. Treasury and the Federal Reserve

NEW YORK--Mar. 2, 2009-- American International Group, Inc. (AIG) and American International Assurance Company, Ltd. (AIA) today announced a broad set of actions, taken in cooperation with the U.S. Department of the Treasury (U.S. Treasury) and the Federal Reserve, to improve AIG’s capital structure, protect and enhance the value of its key businesses, and position these franchises for the future as more independently run, transparent companies.    » read more »

Nearly 90 Percent of Decline Due to Drop in Equity Values; $6.3 Billion In Catastrophe Losses Well Above Expected Levels

Bloomington, Ill., Feb. 27, 2009 -- Net worth for the State Farm group decreased in 2008 by $10.4 billion to end the year at $53.3 billion. The primary reason for the decrease was the $9.2 billion decline in the value of the property-casualty (P-C) companies’ unaffiliated stock portfolio (net of deferred tax). Although this decline was driven by general market conditions, State Farm’s P-C portfolio had a smaller percentage decline than the broader equity market.    » read more »

Results Reflect Ongoing Severe Market Disruption and Restructuring-Related Charges

NEW YORK--Mar. 2, 2009-- American International Group, Inc. (AIG) reported today that continued severe credit market deterioration and charges related to ongoing restructuring activities contributed to a record net loss for the fourth quarter. For the fourth quarter of 2008, AIG reported a net loss of $61.7 billion or $22.95 per diluted share compared to a 2007 fourth quarter net loss of $5.3 billion or $2.08 per diluted share. The fourth quarter 2008 adjusted net loss, as defined below, was $37.9 billion or $14.17 per diluted share, compared to an adjusted net loss of $3.2 billion or $1.25 per diluted share for the fourth quarter of 2007.    » read more »

Statement of Sidney Wolfe, M.D., Director, Public Citizen’s Health Research Group, and James Floyd, M.D., Researcher, Public Citizen’s Health Research Group

Feb. 26, 2009 -- This morning, President Obama announced he will create a $634 billion reserve fund over the next decade to provide a down payment for expanding health coverage. The announcement comes a week before a White House health care summit that marks the beginning of the first serious effort to reform health care since the Clinton task force in 1993.    » read more »

Action Urgently Needed from President and Congress to Solve Crisis of the Uninsured

Feb. 24, 2009 -- WASHINGTON -- The evidence shows more clearly than ever that having health insurance is essential for people's health and well-being, and safety-net services are not enough to prevent avoidable illness, worse health outcomes, and premature death, says a new report from the Institute of Medicine. Moreover, new research suggests that when local rates of uninsurance are relatively high, even people with insurance are more likely to have difficulty obtaining needed care and to be less satisfied with the care they receive.    » read more »

February 23, 2009 -- Moving swiftly to bring real relief to Americans hit hard by the economic crisis, President Barack Obama announced today that states will be able to access the first two quarters of Federal Medical Assistance Percentage funding (FMAP) starting this Wednesday, February 25. FMAP – the federal match for Medicare – helps pay for health care for the families struggling during the economic crisis and some of the nation’s most vulnerable citizens. More than 49 million Americans rely on Medicaid for health care coverage and this funding could help 20 million more Americans get covered.* The President made the announcement at a meeting of the nation’s governors at the White House.    » read more »

New York, NY, February 19, 2009— A comprehensive set of insurance, payment, and system reforms could guarantee affordable health insurance coverage, improve health outcomes, and slow the growth of health spending by $3 trillion by the end of the next decade, according to a new report released today by the Commonwealth Fund Commission on a High Performance Health System. The report, The Path to a High Performance U.S. Health System: A 2020 Vision and the Policies to Pave the Way, details the Commission’s recommendations for an integrated set of policies and assesses the impacts of specific policy actions from 2010 to 2020, compared to the status quo.    » read more »