To fight cancer, EPA wants sterilizer companies to emit less

To fight cancer, EPA wants sterilizer companies to emit less

The Environmental Security Company on Tuesday proposed restricting the use of the chemical ethylene oxide just after acquiring a greater than envisioned most cancers chance at amenities that use it to sterilize billions of health-related units just about every 12 months.

The EPA states its proposal will minimize ethylene oxide emissions by about 80{08cd930984ace14b54ef017cfb82c397b10f0f7d5e03e6413ad93bb8e636217f} by concentrating on 86 healthcare sterilization services across the United States. The businesses will also have to test for the antimicrobial chemical in the air and make certain their air pollution controls are functioning effectively.

“EPA’s quantity one precedence is safeguarding people’s health and security,” EPA Administrator Michael Regan claimed in a assertion. The agency’s proposals “would noticeably cut down employee and neighborhood exposure to hazardous levels of ethylene oxide,” he claimed.

Darya Minovi, a senior exploration analyst with the Union of Anxious Scientists, termed the action overdue by “almost a decade” and reported it should have absent further more to require monitoring at facility fence strains so folks know what is coming into their neighborhoods.

“I’m relieved and happy that the EPA has eventually issued proposed benchmarks that are dependent on their individual scientists’ suggestions on an up-to-date, better most cancers risk price,” Minovi said in a assertion.

The tightened safeguards are driven by the EPA’s greater comprehension that ethylene oxide’s threat is critical. The chemical is classified as a pesticide. A employee in a professional medical sterilizing plant, in excess of the program of a vocation, could see their possibility shoot up by as a great deal as just one excess situation of cancer for each 10 individuals exposed. The EPA’s commonly suitable increase in lifetime cancer chance is 1 in 10,000.

Ethylene oxide is a fuel utilised to sterilize about 50 percent of all professional medical equipment and is also used to assure the basic safety of particular spices and other foodstuff products. It is used to clean up every thing from catheters to syringes, pacemakers and plastic surgical robes. Brief exposure isn’t regarded a hazard, but breathing it extensive phrase elevates the risk of breast cancer and lymphoma, according to the company.

In 2016, the EPA updated its assessment of ethylene oxide’s threat centered on data about exposed workers at sterilizing facilities, locating the chemical was lots of periods additional threatening than earlier known. Examination launched by the company two decades afterwards located that most cancers risk was way too substantial close to some clinical sterilization vegetation and some other services that launch ethylene oxide.

“That set off a regulatory alarm bell,” said Marvin Brown, an attorney at the environmental team Earthjustice.

Public worry grew. Sterigenics shuttered a clinical sterilization plant in a Chicago suburb after checking discovered emissions spikes in nearby neighborhoods. They inevitably settled several lawsuits.

In 2022, the EPA laid out the risk confronted by citizens who live close to health care sterilization amenities. In Laredo, Texas, for case in point, citizens and activists fought to clean up a sterilization facility run by Missouri-based mostly Midwest Sterilization Corp. It was just one of 23 sterilizers in the United States that the EPA said posed a possibility for folks close by.

“This, for us, feels like a win,” reported Sheila Serna, the local weather science and policy director at the environmental group Rio Grande International Review Middle. She reported regardless of advancements at the Laredo facility, the possibility is still as well superior. Her team sued the EPA in December, pushing it to tighten ethylene oxide protections. She agreed with Minovi that the proposal really should require fence line monitoring as effectively as protections at warehouses where sterilized solutions are quickly stored.

Midwest Sterilization claimed the company’s do the job helps deliver lifestyle-conserving health care care.

“Most of the alterations proposed by the EPA have presently been accomplished by Midwest, or are at present getting implemented,” the enterprise mentioned in a assertion.

The EPA claimed quite a few services have presently sharply reduced emissions, but people that have not will now have to fulfill stricter specifications.

Scott Whitaker, president and CEO of the State-of-the-art Professional medical Technologies Association, reported healthcare sterilizers deliver a important assistance and a lot of devices “cannot be sterilized by another system.” He stated the EPA’s chance assessment overstates the threat workers deal with and undervalues the protections they are currently delivered.

He extra that the amenities are now at potential and if some shut, it could hold off medical treatment. The 18-month time body for setting up technology to minimize emissions immediately after the final rule is issued is “much also quick,” Whitaker mentioned in a statement. “It could consider quite a few months for abatement tools to get there. Offer chains and producing are nevertheless recovering from the pandemic.”

Susan Buchanan, an environmental and occupational wellness health practitioner at the College of Illinois Chicago University of Community Overall health, claimed ethylene oxide is a “potent carcinogen” that is also incredibly excellent at sterilizing professional medical tools. She rejects arguments that the EPA overstated ethylene oxide’s dangers.

“The EPA is entire of definitely clever, diligent, nonaligned experts,” she claimed. “If anything at all, the EPA is sometimes not protective ample.”

The EPA also wishes to involve protective vapor masks for individuals who do the job with large quantities of ethylene oxide and says some workplaces, which include museums, need to cease utilizing it altogether for the reason that safer choices exist.

Tuesday’s proposal follows the EPA’s directive final 7 days to lower emissions from chemical plants in general to minimize cancer possibility. In element, that rule specific manufactures of ethylene oxide. Tuesday’s proposal targets individuals who use it.

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The Involved Push receives guidance from the Walton Household Basis for coverage of water and environmental plan. The AP is only dependable for all content. For all of AP’s environmental coverage, take a look at https://apnews.com/hub/local weather-and-ecosystem.

Increased Regulatory Scrutiny on Health Technology Companies’ Use of Advertising Technologies | Fenwick & West LLP

Increased Regulatory Scrutiny on Health Technology Companies’ Use of Advertising Technologies | Fenwick & West LLP

The proliferation of wellbeing apps and connected units that allow for people to monitor their wellbeing situations, therapy, prescription drugs, health, fertility, rest, mental wellness, diet regime and other very important parts has led to elevated regulatory scrutiny. Recent regulatory advice and enforcement steps with multimillion-dollar therapies are clarion phone calls for health engineering companies to ensure that they are correctly working with internet monitoring systems on their electronic houses.

OCR Steerage on Use of Monitoring Technologies

The Office of Health and Human Services’ Office for Civil Rights (OCR), which enforces the Health and fitness Insurance plan Portability and Accountability Act (HIPAA), recently introduced advice warning that a HIPAA-regulated entity’s use of online tracking systems on its internet websites and applications is subject matter to HIPAA’s Privateness Rule. These monitoring technologies incorporate commonly employed analytics and promoting equipment, this kind of as tracking pixels used for remarketing, web beacons and session replay scripts. OCR advises that these technologies fall within just HIPAA guidelines mainly because the sorts of info they collect, like IP tackle, geographic locale, product ID, marketing ID or other one of a kind identifiers, can tie an individual website or application user to a HIPAA-controlled entity even in the absence of a individual romance. Appropriately, this data “relates to the individual’s past, existing, or future health and fitness or well being treatment or payment for treatment.” For instance, when a covered entity (such as a clinic or health care supplier) locations a monitoring pixel on its appointment scheduling web site, the pixel shares the patient’s IP handle with the pixel company. In accordance to the OCR direction, the covered entity should guarantee that it shares the IP deal with with the pixel supplier in a HIPAA-compliant method.

FTC Enforcement of Its Well being Breach Notification Rule

OCR is not the only regulator focused on the use of monitoring technologies on wellness sites and applications. On February 1, 2023, the Federal Trade Commission (FTC) settled an enforcement motion against a electronic healthcare platform for violating Area 5 of the FTC Act and the FTC’s Health Breach Notification Rule, 16 C.F.R. Component 318 (the FTC Rule). The FTC Rule applies to enterprises that are not matter to HIPAA, but that collect or manage identifiable overall health information of buyers in the type of personal health and fitness records. The FTC Rule requires firms to notify men and women inside of at minimum 60 calendar times of the unauthorized accessibility to their private overall health documents. In 2021, the FTC issued a Policy Statement advising that any sharing of particular overall health information—including intentional disclosures—without the authorization of the personal to whom it associated violated the FTC Rule. The FTC also warned that violations of the FTC Rule could end result in civil penalties of up to $43,792 per violation for each day.

This situation was the FTC’s first enforcement of the FTC Rule. The FTC alleged that the company violated the FTC Rule and Area 5 of the FTC Act by sharing own and health and fitness facts of its people with (1) promoting platforms, this kind of as Facebook, Google and Criteo and (2) other third parties like Branch and Twilio, with out notifying or obtaining the consent of its consumers. The FTC also observed the practices were opposite to guarantees the organization produced in its privateness insurance policies that it would not share its users’ wellness information and facts. Under the conditions of the settlement, the FTC levied a $1.5 million civil penalty and completely banned the company from disclosing health and fitness information to 3rd parties for advertising and marketing functions.

BetterHelp, Inc. FTC Enforcement

Just a month afterwards, in March 2023 the FTC brought an enforcement motion alleging that BetterHelp, an on the net mental health counseling service, shared info identifying its users with advertisers opposite to its privacy guarantees on its website and intake questionnaire. The criticism alleges that BetterHelp permitted advertisers to use info about its consumers to produce look-alike pools of men and women for advertising. A consent buy, if authorized, will demanded BetterHelp to refund up to $7.8 million to people who paid out for BetterHelp subscriptions. The proposed FTC get calls for BetterHelp to (1) attain affirmative categorical consent in advance of disclosing own information to specified 3rd events for any goal (2) carry out a complete privateness application (3) immediate third parties to delete consumer wellness and other individual details and (4) carry out a knowledge retention schedule for client wellness and individual information and facts.

Practical Takeaways for Digital Well being Consumers

All digital wellbeing clientele who use targeted promoting and on-line monitoring technologies on their sites and mobile applications need to have to evaluate and be crystal clear about what legal guidelines they may perhaps be subject matter to: HIPAA, Part 5 of the FTC Act (prohibiting unfair or deceptive functions or methods in or influencing commerce) and/or the FTC Rule. The FTC has produced obtainable an interactive instrument to assist developers of cell apps that in any way relate to overall health facts establish which rules and rules may apply.

Are you a protected entity or business enterprise affiliate topic to HIPAA? If so, you will will need to:

  1. Assess what online advertising tools (cookies, pixels, world-wide-web beacons) you are applying on your electronic houses, this sort of as your web sites or cell applications.
  2. Identify where these on the net promoting resources are positioned on your electronic attributes, noting elevated scrutiny on web internet pages where by sensitive well being information and facts may be collected (for instance, on an appointment scheduling web site where disorders or indicators could be entered).
  3. Assess what data is shared with third-occasion suppliers of these equipment, noting that even IP addresses are considered safeguarded well being info (PHI) below the OCR’s new advice.
  4. Establish no matter if you have the important agreements in position with the device providers, these as a business associate arrangement or subcontractor arrangement.
  5. Weigh the added benefits of using these on-line promoting instruments from the additional price of complying with OCR’s new steerage. Ongoing compliant use of these applications will probable call for corporations to receive prior authorization or consent from consumers (which includes web-site people, even if no client romance is formed) for disclosure of their PHI to vendors of these on line promotion equipment.
  6. Revise your privateness policy and detect of privacy techniques to correctly reflect your on the internet marketing practices. Portion 5 of the FTC Act requires that disclosures about well being facts privateness methods should not be deceptive or misleading.

If you accumulate individual health and fitness info, but are not a HIPAA protected entity or business enterprise affiliate:

  1. If your internet site or application collects identifiable well being details on an personal from numerous resources, this kind of as by a mix of buyer inputs and APIs, you are matter to the FTC Rule. And like HIPAA controlled enterprises, Area 5 of the FTC Act necessitates statements to individuals about how you use and share their wellbeing facts ought to not be deceptive.
  2. Assess what third-bash promoting companies you are employing, if any.
  3. Perform an inside audit to decide what personalized information you share with 3rd-party promotion providers, if any.
  4. Evaluate all your web sites and other electronic attributes to ensure that your privateness policy is prominently shown and is simply accessible to buyers on each and every. Consumers should really be needed to accept your privateness coverage prior to filling out any consumption questionnaires.
  5. Evaluation all statements and claims that you have designed about the use and disclosure of personalized and wellness data in the shopper intake questionnaires, in your privateness policies, on your internet sites and cell applications, and in other general public boards and platforms (e.g., Twitter), and get rid of any privacy assures or representations that do not correctly replicate the Company’s methods.
  6. Get hold of Affirmative Categorical Consent before disclosing wellbeing info to third-party vendors of marketing technologies. Affirmative Express Consent need to be distinct and independent from the business’s typical conditions.
  7. Teach staff members on privacy and safety ideal techniques for dealing with or producing conclusions about sharing own or health data.
  8. Contractually limit advertisers’ use of personal info for their personal unbiased business enterprise functions, including their have investigation and advancement and advertisement optimization.
  9. Look at creating and implementing inside insurance policies governing personalized and health information sharing, including requiring prior legal evaluation and acceptance of any details sharing with third-occasion suppliers of on the web promoting instruments.

‘Even if Korean medical device market grows, foreign companies take most profits’ < Device/ICT < Article

‘Even if Korean medical device market grows, foreign companies take most profits’ < Device/ICT < Article
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As Korea’s medical device market grows, foreign companies profit most from such expansion, said Professor Sun Kyong of Kyung Hee University during a forum at the National Assembly Monday.&#13
As Korea’s medical device market grows, foreign companies profit most from such expansion, said Professor Sun Kyong of Kyung Hee University during a forum at the National Assembly Monday.
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Although the Korean medical device market grows rapidly, foreign companies, not domestic firms, take substantive profits, an expert pointed out Monday.

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Sun Kyung, a special professor at Kyung Hee University, said so during a forum to discuss the innovative growth of medical equipment at the National Assembly. “The domestic medical device market and the domestic businesses should grow together,” Sun said.

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Explaining major policies pushed by the Ministry of Food and Drug Safety to develop the Korean medical device industry, Sun noted that the government pushes to make the bio-industry a second growth engine following semiconductors.

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“The incumbent government puts particular emphasis on medical devices. For the industry to become the next growth engine, it should earn money,” the professor said. “However, only the domestic market grows without the corresponding growth of domestic makers, indicating it has a structure where foreign companies reap profits.”

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Noting that the government has a very optimistic scenario about the healthcare industry, including medical devices, Professor Sun pointed out there could be a pessimistic future, too, expressing concerns about the health divide caused by different income and educational levels, regions, and social classes.

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“Worldwide, cooperation between medical professionals and engineers is regarded very important in the medical equipment sector,” he said. “However, foreign companies take the lead in most cases. From now on, I hope to see more examples of Korean companies making global hit products and the whole world using them.”

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Ra Gun-ho, director of Naver Healthcare Research Institute, said if the government eases regulations a little, Korean companies will lead the global medical equipment industry at the same forum.&#13
Ra Gun-ho, director of Naver Healthcare Research Institute, said if the government eases regulations a little, Korean companies will lead the global medical equipment industry at the same forum.
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Industry executives share the concern.

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“The biggest domain of the medical equipment industry is healthcare service. So, for instance, the global sensation of ChatGPT also has a great possibility of application to healthcare,” said Ra Gun-ho, director of Naver Healthcare Research Institute. “We have the experience of grafting our meeting minute preparation program, ‘Clover Note,’ to a nursing record transfer program. As a result of using the program at Sun Chun Hyang University Hospital, it showed a 98 percent precision rate.”

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Ra explained that as recently as in early 2021, it took 15,000 hours to make a nursing record transfer program. However, thanks to the sophistication of machine learning technology, they could turn the program into voice data in 300 hours.

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“Even more interestingly, the nursing program was made by oncology department wards, but it saved the efforts of other departments, such as neurological or cardiothoracic departments, to make separate nursing programs,” he added.

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Pointing out that in domestic healthcare, current artificial intelligence technology can solve medical practices where Korean and English are mixed, he said the technology is improving so well that local governments are using it in dementia relief centers.

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However, Ra expressed concerns about protecting domestic companies in the service sector, including the medical device industry, in the future.

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“Few countries worldwide have their search engines,” Ra said. “If the government opens the way a little wider in terms of regulation, the Korean medical device and artificial intelligence industries will lead the world.”

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Schools sue social media companies over youth mental health crisis

Schools sue social media companies over youth mental health crisis

Remark

Faculty districts throughout the state are significantly having on social media, filing lawsuits that argue that Instagram, Snapchat, TikTok and YouTube have served make the nation’s surging youth mental overall health crisis and really should be held accountable.

The authorized action started in January, with a go well with by Seattle General public Educational institutions, and picked up momentum in current weeks as college districts in California, Pennsylvania, New Jersey and Florida have adopted. Lawyers involved say lots of additional are prepared.

San Mateo County, household to 23 college districts and portion of the Silicon Valley in northern California, filed a 107-site complaint in federal courtroom very last 7 days, alleging that social media firms utilized superior synthetic intelligence and equipment mastering technological know-how to develop addictive platforms that bring about younger folks harm.

“The final results have been disastrous,” the submitting asserts, saying additional young children than ever struggle with their psychological health amid extreme use of the platforms. “There is only no historic analog to the crisis the nation’s youth are now struggling with,” it mentioned.

The suit details to latest knowledge from the Facilities for Disease Manage and Prevention exhibiting climbing rates of depressive indications and suicidal thoughts among the nation’s superior university learners. The rising reputation of social media, it contends, “tracks precisely” with a youth mental well being decrease. It estimates President Biden’s remarks in his State of the Union handle that strategies employed by social media firms are an “experiment they are jogging on our little ones for earnings.”

San Mateo County Superintendent of Schools Nancy Magee stated in an interview that rampant social media use has left a mark on educational institutions, to the position in which directors have observed a spike in psychological well being emergencies for the duration of the faculty working day. There have been “very serious” cyberbullying incidents linked to social media — with content “nearly impossible” to get the corporations to acquire down — and school threats that have saved pupils at household, she reported.

Magee also pointed to other harms — for instance, vandalism in high university loos throughout what was identified as the “Devious Lick Challenge.” College students throughout the place stole cleaning soap dispensers, flooded toilets, shattered mirrors — then confirmed off their stunts on TikTok.

The disaster of university student psychological well being is significantly vaster than we recognize

“The social media companies build the platforms and the resources but the impacts are felt by educational facilities, and I would truly like to see an knowledge of that,” Magee mentioned. “And then, that the training group gets the methods in each men and women and applications to enable help pupils adequately.”

Social media companies did not instantly comment on the litigation but in penned statements said they prioritize teen security and described measures to protect young users.

TikTok cited age-limited features, with limits on immediate messaging and dwell streams, as perfectly as non-public accounts by default for more youthful teens. It also pointed to limitations on nighttime notifications parental controls, referred to as Family Pairing, that allow for mom and dad to manage content material, privateness and display screen time and expert sources, such as suicide prevention and consuming condition helplines, straight reachable from the application.

YouTube, which is owned by Google, has Spouse and children Link, which enables mother and father to established reminders, restrict monitor time and block selected styles of information on supervised products, claimed spokesperson José Castañeda. Protections for people underneath 18 involve defaulting uploads to private and well-becoming reminders for breaks and bedtime.

Meta, which owns Instagram, said a lot more than 30 applications guidance teens and people, which include age-verification technology, notifications to consider regular breaks and functions that allow for dad and mom to limit time on Instagram. “We never allow written content that promotes suicide, self-harm or taking in ailments, and of the information we take out or consider action on, we recognize in excess of 99 p.c of it just before it’s claimed to us,” explained Antigone Davis, world wide head of security at Meta.

Snapchat said its platform “curates articles from recognized creators and publishers and takes advantage of human moderation to critique user generated information in advance of it can reach a large audience.” Accomplishing so “greatly decreases the unfold and discovery of unsafe material,” spokesperson Pete Boogaard reported, adding that Snapchat works with psychological wellness companies to supply in-application instruments and sources for customers.

The 1st of the lawsuits, filed Jan. 6 for Seattle Public Colleges, stated research demonstrates that the social media organizations “exploit the exact neural circuitry as gambling and leisure medicines to maintain buyers using their merchandise as a great deal as possible” and that social media is so common it is employed by 90 p.c of those people ages 13 to 17. 1 analyze confirmed consumers look at Snapchat 30 occasions a day, it explained. Nearly 20 p.c of teenagers use YouTube “almost frequently,” it reported.

Seattle has viewed a surge in the share of youth “who say they are not able to stop or handle their anxiousness, who feel so sad and hopeless they cease accomplishing the functions they utilized to adore, who are contemplating suicide,” or designed designs to acquire their life or attempted suicide, the fit reported.

The Crisis in American Girlhood

Exterior Philadelphia, officers in Bucks County submitted suit Tuesday against the social media providers, laying out a equivalent case. It is not since they are versus social media, reported Fee Chair Bob Harvie — who points out the county alone has made use of TikTok — but rather that the algorithms that get teenagers to “keep hunting, continue to keep focusing, hold scrolling” acquire a toll on kids’ mental health.

“The way we glimpse at it, it’s not as opposed to the way cigarette businesses utilised to manipulate nicotine stages to make positive that men and women retained using tobacco,” Harvie reported. “Our variety 1 priority is just to get the actions of these corporations to change.”

School districts are typically looking for that the conduct of social media corporations be declared a community nuisance, that their practices change and that damages be compensated to fund avoidance, training and remedy for excessive and problematic use of social media.

The 109-web page lawsuit on behalf of Bucks County highlights worsening psychological wellbeing information, stating the troubles have “advanced in lockstep with the progress of social media platforms intentionally designed to catch the attention of and addict youth to the platforms by amplifying dangerous substance, dosing users with dopamine hits, and thereby driving youth engagement and advertising earnings.”

Later on, it says social applications “hijack a tween and teenager compulsion — to link — that can be even additional strong than hunger or greed.”

In northern New Jersey, the University District of the Chathams has invested increasing means above the many years to support college students battling with stress and anxiety, depression and suicidal ideas, stated lawyer Michael Innes, whose business is representing the district in its litigation filed in mid-February. The firm filed a comparable action for one more New Jersey school district, Irvington Public Educational institutions, in early March.

“We’ve spoken to school districts that have created a conclusion between expending on psychological health and paying out on classroom education,” Innes said.

Carrie James, a researcher on electronic daily life at the Harvard Graduate Faculty of Schooling, mentioned the lawsuits speak to “the gravity of the issue” that educational facilities are seeing and their feeling that social media is implicated. Continue to, she explained in an e-mail, it is unclear no matter if the lawful action will deliver monetary damages for schools.

There is incredible debate — and blended proof — about the purpose of social media in adolescent mental health and well-getting, James stated. Her perform with researcher Emily Weinstein confirmed teenager encounters range, she reported: For some, social media is a web favourable, even a lifeline, while for other folks it displaces snooze and actual physical exercise or intensifies loneliness and bad system picture.

Diverse interventions are needed to deal with the complexity, she explained, but social media corporations will need to just take accountability for how their products and solutions add. The query, she stated, is, “Will school-dependent lawsuits support implement enough force?”

12 Biggest Health Insurance Companies in the World

12 Biggest Health Insurance Companies in the World

In this article, we discuss the 12 biggest health insurance companies in the world. If you want to see more companies in this selection, check out the 5 Biggest Health Insurance Companies in the World.

According to Allied Market Research, the size of the global healthcare insurance industry stood at $1.98 trillion at the end of 2020. The COVID-19 pandemic has resulted in an increased demand for health insurance around the world. The size of the industry is expected to compound annually at an average rate of 9.7{08cd930984ace14b54ef017cfb82c397b10f0f7d5e03e6413ad93bb8e636217f} to reach $4.15 trillion by 2028. People consider health insurance services as an integral tool to share medical costs during accidents, illnesses, and injuries. The impact of the delay in routine healthcare services during the COVID-19 pandemic played favorably for health insurance companies. However, this effect was also offset by the increase in demand for COVID-19-related testing and treatment claims.

The Protection Gap: Addressing Economic Losses in Health Insurance and Beyond

Experts believe that health insurance companies that can innovate and transform their offerings according to customers’ demands will be able to grow during these uncertain times. The uncertainty related to geopolitical and macroeconomic outlook has made business stability the top priority amongst health insurance companies such as Centene Corporation (NYSE:CNC), UnitedHealth Group Incorporated (NYSE:UNH), and Elevance Health, Inc. (NYSE:ELV).

In addition, the protection gap is growing with every passing day as the insurance related to natural disasters, cyber attacks, and health, only partially covers the actual economic losses related to these events. For instance, in 2019, more than 400 natural disaster events resulted in an economic loss of $232 billion, but only $71 billion of the loss was insured. This gap is expected to increase as the global population and life expectancy rise. These factors would provide the health insurance industry with a bigger market to target.

According to the Swiss Re Institute, the insurance industry could increase its bottom line by $60 – $80 billion annually if it works on reducing the insurance protection gaps. As of 2021, the global insurance protection gap stood at $1.4 trillion, while the global health protection gap was estimated at $737 billion. Experts believe the higher government spending on healthcare during the COVID-19 pandemic helped reduce the health protection gap; however, it is expected to increase again as the pandemic has eased and governments around the world are shifting their focus towards other activities. Experts also highlight the low level of insurance literacy as a major challenge in gaining widespread market penetration. According to research conducted by French insurer SCOR, a significant number of people do not purchase insurance because they cannot comprehend the terms and conditions. The study comprised 12,000 consumers from around the world. Governments, regulators, insurance companies, and employers must come together to address the challenges to boost the adoption of health insurance.

12 Biggest Health Insurance Companies in the World

12 Biggest Health Insurance Companies in the World

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Our Methodology

We carried out thorough research utilizing a variety of dependable sources, including company and industry reports and financial databases, to determine the largest health insurance companies in the world. We took into account pertinent aspects, like the company’s consumer base, product offerings, business models, and global reach, to assess its scale of operations. The companies have been ranked in ascending order of their trailing twelve months (ttm) revenue. The list includes both private and public limited companies.

Biggest Health Insurance Companies in the World

12. MetLife, Inc. (NYSE:MET)

TTM Total Revenue:  $68.95 billion  

MetLife, Inc. (NYSE:MET) is a New York-based provider of annuities, employee benefit programs, and insurance. The company provides a wide range of health insurance products like accident insurance, disability and absence services, hospital indemnity, critical illness, and cancer insurance.

In a research note issued on January 6, Jimmy Bhullar at JPMorgan increased the target price for MetLife, Inc. (NYSE:MET) from $77 to $80 and maintained an Overweight rating on the stock. The analyst anticipates the company’s life and health insurance segment to perform well in 2023 as the benchmark interest rates are expected to rise further. However, this could be offset by a weak economy that could dent demand along with a higher risk of credit losses.

11. Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München (MUV2.DE)

TTM Total Revenue: $71.50 billion (€67.09 billion)

Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München (MUV2.DE), more commonly known as Munich Re Group, is a German insurance company established in 1880. The company provides a wide variety of reinsurance products related to healthcare.

Munich Re has established an ambitious roadmap for the next five years called the Munich Re Group Ambition 2025. While preserving and reinforcing the core of its business model, the company aims to drive the transition towards new business models. The company plans to enhance its market position in Germany and achieve profitable growth in international business, B2B operations, and direct customer offerings.

10. CVS Health Corporation (NYSE:CVS) [ Owner of Aetna]

TTM Total Revenue (Aetna):  $82.2 billion

CVS Health Corporation (NYSE:CVS) is a Woonsocket, Rhode Island-based healthcare company that is also a provider of health insurance services.

The company acquired Aetna in 2018 to expand its presence in the health insurance segment. Based on 2021 total health plan enrollments, CVS Health Corporation (NYSE:CVS) secured the sixth position with 2,574,348 enrollments. In a note issued to investors on February 9, Brian Tanquilut at Jefferies increased the target price for CVS Health Corporation (NYSE:CVS) from $130 to $143 and maintained a Buy rating on the stock following the strong Q4 2022 results. The company also disclosed that it intends to acquire Chicago, Illinois-based healthcare company Oak Street Health, Inc. (NYSE:OSH) for a sum of $10.6 billion. The analyst anticipates the earnings from Oak Street to contribute towards the company’s bottom-line growth after 2024.

Vltava Fund shared its outlook on CVS Health Corporation (NYSE:CVS) in its Q3 2022 investor letter. Here’s what the firm said:

“CVS is a leader in the provision of healthcare services in the USA. It has three main businesses: an enormous network of pharmacies, a health insurance company, and “prescription benefit management”, which is a kind of intermediary between insurance companies and pharmacies. This is the result of large acquisitions over the past 15 years – most notably of Caremark (2007) and Aetna (2018). The markets had deemed its acquisition of health insurer Aetna too expensive (and we agree), so CVS stock then fell into disfavour for a few years.

We took advantage of this in the summer of 2020 and brought the stock into our portfolio at a time when its price was pressed down still further by the coronavirus pandemic. CVS is a giant. It has revenues of USD 300 billion, making it one of the largest companies in the world. It is a relatively stable and highly profitable company with strong free cash flow. Over the past few years, CVS has focused primarily on reducing debt.

This is already much lower than it had been after the Aetna acquisition, and most of the cash is now likely to go to shareholders through share buybacks or be used for smaller acquisitions to grow the company further. CVS trades at about 11 times annual earnings, which is a very appealing valuation given the expected future growth in profitability and overall modest cyclicality in its business.”

10. Humana Inc. (NYSE:HUM)

TTM Total Revenue:  $92.87 billion

Humana Inc. (NYSE:HUM) is a Louisville, Kentucky-based health insurance company founded in 1961.

The corporation occupies the 114th position on the 2023 America’s Best Large Employers list curated by Forbes. Furthermore, based on the total health plan enrollment data for 2021 compiled by Forbes, Humana Inc. (NYSE:HUM) is the 11th biggest health insurance company in the US, with an enrollment of 887,612 members. Following the Q4 2022 results, George Hill at Deutsche Bank assigned Humana Inc. (NYSE:HUM) stock a target price of $562 along with a Buy rating on February 28. The analyst highlighted the company’s decision to exit the Employer Group Commercial Medical Products business company. The business segment included the Federal Employee health benefit plans and rewards programs that are fully insured and self-funded.

Here’s what Renaissance Investment Management said about Humana Inc. (NYSE:HUM) in its Q3 2022 investor letter:

“In September, We added a new position in the Health Care sector with Humana Inc. (NYSE:HUM), one of the largest managed care providers in the U.S. with a focus on medical insurance for the Medicare Advantage market. We believe Humana is poised to see a reacceleration in Medicare Advantage membership growth after making large investments in its program benefits earlier this year. In addition, we like the demographic tailwinds for the entire Medicare Advantage market, as the next four years should provide the highest number of baby boomers yet qualifying for Medicare benefits.”

9. Kaiser Permanente

TTM Total Revenue:  $95.4 billion

Kaiser Permanente is an Oakland, California-based healthcare organization founded in 1945.

The company provides a variety of healthcare services, including health insurance, to individuals and families. Kaiser Permanente is a managed care organization, which means that it provides healthcare services through a network of doctors, hospitals, and other healthcare providers. Kaiser Permanente health insurance plans typically offer a range of benefits, including preventative care, medical treatment, prescription drug coverage, and other health services. Some plans may also include dental and vision care. The company occupied the first position in terms of total health plan enrollment in 2021, with 8,228,765 accounts.

8. AXA SA (CS.PA)

TTM Total Revenue:  $103.7 billion (€97.25 billion)

AXA SA (CS.PA) is a Paris, France-based insurance company that was founded in 1946. The company has a presence in 50 countries and a headcount of 149,000 employees and distributors. AXA SA (CS.PA) provides insurance and financial management services to 95 million clients around the world.

AXA health insurance plans vary by region and country, but they generally offer a range of benefits, such as hospitalization, outpatient services, preventative care, and prescription drug coverage. The company also offers additional benefits, such as dental and vision care, alternative medicine, and wellness programs. Some plans may also provide coverage for pre-existing conditions, depending on the specific policy. CEO Thomas Buberl shared that in 2023, AXA SA (CS.PA) aims to achieve continuous growth in earnings, propelled by all regions, and a transparent route to increasing dividends. This will be backed by improved cash flow and prudent capital management. AXA SA (CS.PA) stock offers an attractive dividend yield of 5.78{08cd930984ace14b54ef017cfb82c397b10f0f7d5e03e6413ad93bb8e636217f} as of March 13.

6. China Life Insurance Company Limited (601628.SS)

TTM Total Revenue: $115.98 billion (¥804.12 billion)

China Life Insurance Company Limited (601628.SS) is a Beijing, China-based provider of health insurance and other annuities products founded in 2003.

The company has a headcount of 103,262 employees and ranks at the 71st position in the Forbes Global 2000 list for 2022. The Forbes Global 2000 list ranks the biggest companies globally based on revenue, earnings, total assets, and market capitalization. China Life Insurance Company Limited (601628.SS) claims that once a consumer enrolls in the voluntary health insurance services successfully, the company will continue to renew the plan till 100 years of age without taking into consideration the underlying health condition of the insured person or the historical claim record. The company also provides annual coverage of $10,191 (HKD 80,000) for prescribed diagnostic imaging tests, psychiatric treatments, and prescribed non-surgical cancer treatments.

In addition to China Life Insurance Company Limited (601628.SS), companies such as Centene Corporation (NYSE:CNC), UnitedHealth Group Incorporated (NYSE:UNH), and Elevance Health, Inc. (NYSE:ELV) are also some of the biggest health insurance companies in the world.

 

Click to continue reading and see the 5 Biggest Health Insurance Companies in the World.

 

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Disclosure: None. 12 Biggest Health Insurance Companies in the World is originally published on Insider Monkey.

Top 10 health insurance companies in the U.S.

Top 10 health insurance companies in the U.S.

10. CIGNA

INSURE.COM Suggests:

Execs:

• Scores higher for affordability

• Huge company network with some 1.5 million overall health treatment companies

• Sturdy integration with drug and dental with dental designs supplied in all 50 states

Negatives:

⁃ A big footprint, but its personal and family members ideas are constrained to 16 states

⁃ Over average variety of client problems

(Picture: askarim/Shutterstock.com)

9. MOLINA Health care

INSURE.COM Suggests:

Pros:

• It has earned its members’ rely on

• The wide greater part of buyers system to renew their policies

Cons:

⁃ Protection is confined to government-sponsored packages

⁃ Protection is accessible in a lot less than 20 states

(Picture: Casimiro PT/Shutterstock)

8. BLUE CROSS BLUE Defend OF FLORIDA

INSURE.COM Claims:

Professionals:

• Scored properly for minimal deductibles

• Comprehensive company network all through Florida

• Nationwide entry to wellness treatment by the Blue Cross Blue Defend umbrella

Downsides:

⁃ Other insurers rated higher for affordability

⁃ Strategies mostly limited to Sunshine Point out inhabitants

7. BLUE Protect OF CALIFORNIA

INSURE.COM Says:

Execs:

• Blue California rated among the the best insurers for affordability

• It was among the the leading wellness insurance vendors primarily based on customer fulfillment

• Buyers also rated it finest in our survey for coverage offerings

Drawbacks:

⁃ Though clients seemed to be pretty joyful with the companies they gained, it scored among the the least expensive in our survey for renewals

⁃ It’s largely limited to California citizens

6. BLUE CROSS BLUE Defend OF MICHIGAN

INSURE.COM Suggests:

Professionals:

• It been given high marks from the NCQA

• It has a lower level of grievances

• It ranked in the leading 50 {08cd930984ace14b54ef017cfb82c397b10f0f7d5e03e6413ad93bb8e636217f} of the checklist for shopper fulfillment

Cons:

⁃ It was not as probably to be advised to many others

⁃ Only available to Michigan citizens or employees with companies headquartered there

5. HUMANA

INSURE.COM Suggests:

Pros:

• Rated highly for customer satisfaction

• Much more than 90{08cd930984ace14b54ef017cfb82c397b10f0f7d5e03e6413ad93bb8e636217f} of consumers would recommend it

• It gives wellbeing insurance policy throughout the nation

Disadvantages:

⁃ Other insurers had larger renewal scores

⁃ Not rated as very as some competitors for affordability

4. ANTHEM

INSURE.COM Says:

Pros:

• Rated superior for renewals

• Huge service provider networks

• Good for people today who like a a single-quit store for all their wellness, dental, eyesight and pharmacy desires

Downsides:

⁃ Doesn’t have the optimum marks for consumer fulfillment

⁃ Clients didn’t give its coverage choices the strongest marks

(Picture: Jonathan Weiss/Shutterstock.com)

3. AETNA

INSURE.COM Claims:

Professionals:

• Rated highly for affordability

• Between the most dependable wellbeing insurers

• It’s expanding its digital offerings

Drawbacks:

⁃ Consumers didn’t price its plan choices as highly as other providers

⁃ Its provider network was also not rated as strongly as some others

(Picture: JHVEPhoto/Shutterstock)

2. UNITEDHEALTHCARE

INSURE.COM Claims:

Professionals:

• Sizing can issue, and UnitedHealthcare unquestionably has it with a significant membership foundation and coast-to-coastline protection

• Consumers give it higher marks for the vary of its policy choices

• It’s great for worldwide travelers and expats with far more than 5 million users in its Global system

Disadvantages:

⁃ Most customers were being pleased, but it didn’t score as substantial as some of its opponents

⁃ Its service provider network is large, but consumers did not rank it all that remarkably

(Photograph: Ken Wolter/Shutterstock)

1. KAISER PERMANENTE

INSURE.COM States:

Pros:

• Achieves the best grades for shopper gratification

• Superior buyer loyalty with the best rating for trustworthiness

• Sturdy portfolio and range of policy offerings

Disadvantages:

⁃ When gratification is large, it is not a reduced-cost provider

⁃ Not readily available in all states

(Photo: Sundry Images/Shutterstock.com)

Deciding upon the best wellness insurance policy company is not for the faint-hearted. The course of action will take a wonderful offer of time, and encompasses much more aspects than dollar signs. “Cost is critical, but it does not convey to the complete story,” suggests Chris Homosexual, CEO of Evry Health and fitness, who endorses supplying major consideration to “each plan’s innovation, affordability, entry and contribution strategy, every of which have a immediate effect on price tag.”

To that stop, the editors at Insure.com have compiled a study rating the finest insurance corporations primarily based on several features, including ease of services, lower deductibles, and trustworthiness.

The survey collected info from a wide range of resources. Primarily, Insure.com polled much more than 1,500 coverage shoppers, asking to quality their carriers on purchaser gratification, simplicity of provider and policy choices. Respondents had been also asked to rank their insurer’s leading a few characteristics, and no matter if or not they would advocate their carrier to an individual else.

Insure.com also appeared at AM Very best financial security scores and Nationwide Committee for High-quality Assurance scores.

Kaiser Permanente took the guide in the survey’s breakout classes, becoming ranked as best for customer pleasure, ease of assistance, policy choices (tied with Blue California), most trustworthy, and most probable to be proposed to many others.

“Consumers definitely want to help you save money and acquire a lower high quality when selecting an insurance organization. Nevertheless, it is significant to also contemplate aspects such as financial scores, regulatory compliance and purchaser satisfaction,” claims David Marlett, an Insure.com editorial advisor and handling director for Brantley Threat & Coverage Center at Appalachian Point out College.

See our slideshow over for Insure.com’s top 10 insurance coverage companies for 2023, and click here to go through the whole examine.