Trending News Today: Consumer Health Insurance Rates May Skyrocket

Many Americans will likely face double-digit insurance increases on November 1, 2016 in order for these insurance companies to regain some financial losses, according to Politico. Aetna’s CEO stated that the company expects to break even this year, but some fixes are needed in order to make the marketplace sustainable. Since these increases will be seen a week prior to Election day, it is likely that Democrats will have to defend the law yet again, the report noted.

The governor of New York wants to extend Medicaid coverage to inmates who have serious health conditions immediately before being released from prison. The governor said there are too many inmates leaving prison with mental health and addiction challenges, according to The New York Times. Providing healthcare for these inmates would improve their changes of successfully re-entering the community, according to the report.

Documents discovered during the Senate investigation of Valeant Pharmaceuticals shows, in detail, how CEO Michael J Pearson pursued an aggressive price increase on acquired drugs. These documents highlight the challenges the company now faces since it promised to decrease prices and rely less on acquisitions. According to The Wall Street Journal, many investors and analysts wonder where the company’s profits will come from since it is $30 billion in debt.