insurance

Trump to kill 33,600 jobs in critical swing state that helped hand him the White House

The Atlanta Journal-Constitution reports there might be a reason Democrats are sticking to their guns on pressing President Donald Trump to extend health insurance subsidies. Less clear until now, however, was how much red states will benefit from their effort.

“Georgia is expected to lose about 33,600 jobs next year if federal subsidies on the Affordable Care Act marketplace exchange expire,” according to a new forecast by George Washington University. Georgia’s job loss would be the “third worst … following Texas and Florida.”

“Enhanced subsidies, enacted by the Biden administration during the pandemic to help many Americans afford health insurance, are at the center of a federal government shutdown that is entering its third week,” reports the AJC. “Health insurance premiums will rise for millions of Americans unless they are extended.”

But jobs would also be on the line, said experts, with roughly 340,000 jobs lost across the nation. Some would be in the health sector, but more than half would not, according to the AJC. This will include people who do business with health workers, from landlords to construction crews to lunch counters, not just pharmacies, doctors and hospitals.

“The first hit is to healthcare,” said Leighton Ku, director of the Center for Health Policy Research at George Washington University’s Milken Institute School of Public Health. “After that, it spreads out quickly.”

The Atlanta Journal-Constitution reports about 1.5 million people signed up for Georgia Access just this year, and enrollment now stands at 1.35 million.

Of those, about 460,000 are expected to go uninsured as a result of both the expiring subsidies and other changes made under the Trump administration, according to the health research organization KFF.

Congressional Republicans are largely standing firm against extending the subsidies, but the AJC reports people are already window-shopping next year’s premium prices and are panicking at the new numbers. And rural areas are expected to hurt even more, say experts.

“If you have a nurse who’s fully employed, a lot of times she is the main breadwinner in that family,” said Monty Veazey, president of the Georgia Alliance of Community Hospitals. “So, she loses her job, and then they have to go out of the area to look for another job, and the husband has to quit his job, whatever that might be, to move with them.”

“There may be 34,000 jobs lost,” Veazey said. “But there’s going to be more affected.”

Read the Atlanta Journal-Constitution report at this link.

'Don’t know what’s going to happen': Insurance companies rapidly abandoning homeowners

Millions of homeowners across the country are grappling with a growing problem: Their insurance companies are simply refusing to cover their property.

In a Thursday report, the New York Times delved into the increasingly common occurrence of insurance companies informing homeowners that they would not be able to provide coverage due to the prevalence of severe and catastrophic weather events. The Times reported that since 2018, roughly two million Americans have seen their insurers drop their contracts as a response to wildfires, hurricanes, floods and other events.

New information obtained by the Senate Budget Committee shows the size, scale and scope of how many insurance policies have been dropped in thousands of U.S. counties. The Times even built an interactive website allowing visitors to see exactly where insurance coverage has dropped. While some of the most affected counties are in coastal states like California and Florida, there are multiple states across the country where insurance companies have also bailed on homeowners due to severe storms and sporadic fires.

READ MORE: 'Totally out of luck': How Project 2025 would gut relief for Hurricane Helene victims

"The climate crisis that is coming our way is not just about polar bears, and it’s not just about green jobs,” said committee chairman Sen. Sheldon Whitehouse (D-R.I.) during a Wednesday hearing. “It actually is coming through your mail slot, in the form of insurance cancellations, insurance nonrenewals and dramatic increases in insurance costs.”

According to the Times, the growing pattern of nonrenewals has been "exacerbated by climate change." As the global temperature continues to increase, it will inevitably lead to the destabilization of polar ice caps and a resulting rise in sea levels. This not only means that residents of coastal areas will eventually be displaced, but that summers will be hotter, winters will be colder and storms will be wetter. In October, Hurricane Milton dropped 18.54 inches of rain on the St. Petersburg Albert Whitted International Airport in just 24 hours, compared to just over two inches of rain over a month's time in a typical October.

The Times reported that last week, Silver City, New Mexico resident Richard Zimmel received a nonrenewal letter from Homesite Insurance informing him that the company would be dropping coverage on his home due to increased wildfire risk. His agent, Shelley Scarborough, reportedly tried to get Zimmel a policy with State Farm, Travelers and other companies that also declined to provide a policy. Eventually he was able to get a smaller company to cover his $725,000 home, though his monthly premium jumped by approximately 33%.

"I just don’t know what’s going to happen to the town if this keeps happening," Scarborough told the Times.

READ MORE: 'Those claims will most likely be denied': Why home insurers are failing hurricane victims

Florida in particular is the hardest-hit by insurance company nonrenewals out of all 50 states. The Times reported that in the wake of Hurricane Ian in 2022, nonrenewals more than doubled on average across the state (full disclosure: This author is a licensed flood insurance adjuster who worked Hurricane Ian claims in 2022). In Glades County, Florida, one in six homeowners' policies were not renewed in 2023, which is an increase of more than 3,400% from 2018.

Many Florida homeowners affected by Hurricanes Helene and Milton this year were also caught off-guard by limitations included in the National Flood Insurance Program (NFIP) policy, which is funded with money appropriated by Congress. One of the lesser-known provisions of the NFIP policy is severe coverage restrictions for elevated homes built after their community's flood insurance rate map (FIRM) was issued. Any home whose lowest floor is above ground level is considered elevated, and anything below that mark is subject to post-FIRM elevated restrictions.

Additionally, the Federal Emergency Management Agency (FEMA) has a rule in place requiring homeowners tear down their homes and rebuild them at a higher elevation if their home suffered damages exceeding 50% of its total value. And because the NFIP's maximum policy limit for a residential property is just $250,000 for building damages ($100,000 for contents damages), a homeowner may not be able to afford rebuilding costs even if they had the maximum allowable amount of coverage.

“I’ve been living here for 17 years,” Tampa resident Candace Blackburn told WFLA in October. “My property taxes are about $9,000 and if I knock it down, they’re going to be $22,000 a year. They could tell us to knock it down, but then we’re not going to be able to stay.”

READ MORE: Top health insurance stocks plunge following 'increase in public vitriol' toward industry

Click here to read the Times' report in its entirety, and click here to visit the interactive site to see how insurance nonrenewals are affecting your state (subscription required).

'Those claims most likely will be denied': Why home insurers are failing hurricane victims

In the wake of Hurricanes Helene and Milton, many homeowners are waking up to a nasty surprise when realizing their homeowners' insurance policy doesn't cover damage from flooding.

Both hurricanes have caused extensive floods in the affected states, and cities along the Florida Gulf Coast reported storm surge levels comparable to Hurricane Ian in 2022. In addition to killing roughly 150 people, the two hurricanes have caused approximately $100 billion in damages, with Helene costing $47 billion in and Milton expected to cost in excess of $50 billion.

Flooding is covered by the National Flood Insurance Program, or NFIP, which is paid with an entirely separate premium and overseen at the federal government level (full disclosure: This author is a licensed flood insurance adjuster and has handled NFIP claims in the past). The Guardian reported that after Hurricane Helene slammed into the Southeastern United States, less than 1% of homeowners in some of the hardest-hit areas had NFIP policies. That group includes Asheville, North Carolina, where just 0.9% of homeowners have flood insurance. This means the vast bulk of flood victims will be left in the lurch.

READ MORE: 'Totally out of luck': How Project 2025 would gut relief for Hurricane Helene victims

"Wind damage is covered typically by your standard home insurance policy, whereas flood in general is excluded,” Insurance Information Institute spokesperson Mark Friedlander told the Guardian. “For Hurricane Helene, many people filed claims with their property insurance. Those claims most likely will be denied because it is clearly a flood damage [claim], not a wind damage loss.”

For homeowners in high-risk flood zones (typically beginning with the letter A), flood insurance is usually required. However, data from the Federal Emergency Management Agency (FEMA) shows that four out of every 10 NFIP policies are in areas not defined as high-risk. FEMA regularly encourages Americans to buy flood insurance in advance of every hurricane season, which typically lasts from June through November.

"Floods represent the number one natural hazard threat facing our nation, destroying lives and causing billions of dollars in damage last year alone,” FEMA Administrator Deanne Criswell stated in 2023. “These threats, exacerbated by climate change, can be particularly devastating for underserved communities. As peak hurricane season approaches, we encourage all residents to recognize their risk and understand that in addition to wind and storm surge, rainfall and flooding from these events can be just as catastrophic.”

Florida has been hit by four major hurricanes — defined as Category 3 or above — in just the last two years. Ian and Helene were Category 4, and Idalia and Milton made landfall as Category 3 storms. But according to the Guardian, only 1% of Florida homeowners purchased flood insurance after Ian with 20% of homeowners having NFIP policies instead of 19%. This could be attributed not only to confusion over standard property insurance being separate from flood insurance, but also to what the publication described as the "soaring" cost of insurance, with homeowners' policies costing roughly $7,000 annually. And that's not including the additional several hundred dollars in premiums to be paid for an NFIP policy.

READ MORE: 'It is wrong and it is bull': Fox host says Trump's hurricane lies 'cannot be tolerated'

In September, the Climate & Community Institute (CCI) published a study proposing new policy solutions aimed at strengthening insurance coverage for both homeowners and renters in flood-prone areas. One of those solutions is Housing Resilience Agencies, which would provide public disaster insurance and "coverage for oft-neglected sectors such as multi-family housing providers, mobile home dwellers, and heirs properties."

"Almost 40% of people in the US are living in areas at high risk of property damage and destruction–including in the upper Plains and Southeast–and that risk is racialized," the CCI stated on its website. "Communities of color, especially American Indians and Alaska Natives, disproportionately face multiple threats."

The flood insurance crisis could be exacerbated depending on the outcome of the November election. Project 2025 — which was authored by roughly 140 of former President Donald Trump's ex-staffers and advisors — would eliminate the NFIP and make steep cuts to FEMA. It's unlikely private insurance would cover flood, given that the NFIP was created by Congress in 1968 because private insurers refused to pay for flood-related losses.

Click here to read the Guardian's full report.

READ MORE: Trump mutters 'take a look' when asked to prove aid denial for Helene victims

Mary Lou Retton’s explanation of health insurance takes some somersaults

Former Olympic gymnast Mary Lou Retton spoke out last week on the NBC “Today” show about what she said was a rare pneumonia that almost killed her and resulted in an expensive, monthlong hospital stay. It was a shocking reveal. One key comment jumped out for those who follow health policy: Retton said she was uninsured, blaming that lack of coverage on 30 orthopedic surgeries that count as “preexisting conditions,” a divorce, and her poor finances. “I just couldn’t afford it,” Retton told host Hoda Kotb, who did not challenge the assertion. Retton, who after winning the gold medal in 1984 beca...

Michael Cohen's Clients Were Busted for Staging Accidents in Russian Mob-Connected Insurance Scams

Attorney Michael Cohen helped clients who allegedly ripped off insurance companies with staged and deliberate auto crashes, although he’s never been accused of wrongdoing in the schemes.

Keep reading...Show less

Climate Activists Crashed a Global Insurance Meeting to Demand Exit From Coal Companies

Climate activists brought their message that insurance companies need to stop supporting coal projects to a global meeting of insurance CEOs in San Francisco. On June 15, activists interrupted the opening session of the CEO gathering at the Ritz Carlton Hotel and raised a banner that read, "The World’s Best Insurance? Keeping Coal in the Ground."

Keep reading...Show less

Robert Reich: The 3 Big Reasons Republicans Can’t Replace Obamacare

Republicans are preparing to repeal the Affordable Care Act, and have promised to replace it with something that doesn’t leave more than 20 million Americans stranded without health insurance.

Keep reading...Show less

Church Insurance Company Refuses Pay-Out for Flood Damage, Citing 'Act of God'

An insurance company refuses to pay for floodwater damages at a Pennsylvania church, claiming the damage is considered an “act of God,” Pittsburgh’s WTAE reports.

Keep reading...Show less

State by State Increases in Number of Insured Americans, Thanks to Obamacare

The GOP has mounted more than 50 separate efforts to crush Obamacare. Republicans have variously tried to repeal the act in whole or in part, and they continue to use every lie in the book to justify wasting everyone’s time. Most of their attacks on the law have been nothing more than empty gestures; political theater meant to keep the inmates—or what they might call their “base”—from burning down the asylum.

Keep reading...Show less

States Confront a New Era of Crazy Wildfires

NORTH FORK, Montana — The 2003 Wedge Canyon fire missed Molly Shepherd’s property by a quarter mile. From her cabin deck, she watched flames lick down the mountainside through acres of pine and larch forest toward her home. The fire burned for more than two agonizing months, consuming seven homes and over 53,000 acres.

Keep reading...Show less

Health Care Sleaze: The Person Who Ran Medicare Is Now in Charge of the Insurance Lobby

Washington’s notorious revolving door was in full swing again last week as the health insurance industry snagged another top federal official to help it get what it wants out of lawmakers and regulators.  

Keep reading...Show less
@2026 - AlterNet Media Inc. All Rights Reserved. - "Poynter" fonts provided by fontsempire.com.