<\/p>\n
WILKES-BARRE \u2014 A coalition of Pennsylvania community members and health care workers is calling for a public hearing to ensure transparency regarding “requested changes” to Geisinger-Resant’s insurance terms.<\/p>\n
The coalition, along with Action Together NEPA and SEIU Healthcare PA, is calling on the Pennsylvania Department of Insurance to hold a public hearing and ensure parent company Kaiser Permanente uses its $82 billion net worth to freeze health insurance costs for workers struggling to pay for health care. The group said this will help Kaiser meet its commitment to invest at least $2 billion locally when it acquires Geisinger through Rezant in 2024.<\/p>\n
Additionally, the coalition is calling on the Department of Health to clarify exactly how Geisinger Lysant plans to spend the $100 million it will receive from the makeover. Coalition members argue that freezing premiums will help protect the health and economic security of the entire Northeastern Pennsylvania region.<\/p>\n
Geisinger Resant filed a request on Jan. 16 asking for a reduction in the amount of money known as “risk-based capital” that insurers are required to hold in reserves, according to a news release from the coalition. As a condition of approving Kaiser’s initial acquisition of Geisinger through Resant, the Department of Insurance will require Geisinger Health Plan to maintain at least 350% risk-based capital and Geisinger Indemnity Insurance Company and Geisinger Quality Options to maintain at least 400% risk-based capital for five years, the coalition said. The coalition further argues that companies must maintain at least 350% until 2039. Mr. Geisinger’s revised request would instead require all three insurers to maintain a 300% risk-based capital level, which would give them access to $100 million.<\/p>\n
Geisinger did not respond to requests for comment.<\/p>\n
\u201cOur demands on the Pennsylvania Department of Health are clear: We need transparency, clarity, and accountability from Geisinger-Risant and Kaiser, and we need a freeze on health care costs for hardworking Northeastern Pennsylvania residents,\u201d said Alisha Hoffman Mililovich, executive director of Action Together NEPA. “Over the past decade, we have seen insurance and health care companies become much larger, more powerful, and increasingly capable of price gouging. Working people are now suffering. The Department of Health should step up to make sure these giant companies are using their vast resources to keep costs down, rather than continuing to raise costs.”<\/p>\n
Coalition members say Geisinger Ryzant and Kaiser have enough financial resources to freeze health insurance costs for residents. They claim that Geisinger had 2025 revenues of $9 billion, profits of $47 million and net assets of $4.8 billion. Kaiser’s 2025 sales were $127 billion, profits were $9.3 billion, and net assets were $82 billion.<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n
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#Public #hearing #requested #Geisinger #Lysants #request #million #policy #modification<\/p>\n","protected":false},"excerpt":{"rendered":"
WILKES-BARRE \u2014 A coalition of Pennsylvania community members and health care workers is calling for a public hearing to ensure transparency regarding “requested changes” to Geisinger-Resant’s insurance terms. The coalition, along with Action Together NEPA and SEIU Healthcare PA, is calling on the Pennsylvania Department of Insurance to hold a public hearing and ensure … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":726,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,491],"tags":[1566,1564,1567,911,1089,1569,818,1568,1565],"class_list":["post-725","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","category-health-care","tag-geisinger","tag-hearing","tag-lysants","tag-million","tag-modification","tag-policy","tag-public","tag-request","tag-requested"],"_links":{"self":[{"href":"https:\/\/picsura.com\/index.php?rest_route=\/wp\/v2\/posts\/725","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/picsura.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/picsura.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/picsura.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/picsura.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=725"}],"version-history":[{"count":0,"href":"https:\/\/picsura.com\/index.php?rest_route=\/wp\/v2\/posts\/725\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/picsura.com\/index.php?rest_route=\/wp\/v2\/media\/726"}],"wp:attachment":[{"href":"https:\/\/picsura.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=725"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/picsura.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=725"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/picsura.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=725"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}