Path: bloom-picayune.mit.edu!snorkelwacker.mit.edu!news.media.mit.edu!americast.com!usa-post Newsgroups: usa-today.insur From: usa-post@AmeriCast.Com Organization: American Cybercasting Approved: usa-post@AmeriCast.com Subject: insur Fri, Mar 6 1992 Date: Fri, 6 Mar 92 05:54:04 EST Message-ID: 03-06 0000 DECISIONLINE: Insurance USA TODAY Update March 6-8, 1992 Source: USA TODAY:Gannett National Information Network MIDWEST LAWMAKERS BACK PLAN: A trio of liberal Midwestern senators Thursday introduced a bill designed to upend health care as it's now provided in the USA. Democrats Paul Wellstone of Minnesota, Paul Simon of Illinois and Howard Metzenbaum of Ohio will carry in the Senate the single-payer plan that Rep. Marty Russo, D-Ill., has been promoting in the House for a year. (For more, see special Plan package below.) FLORIDA SUES MILKEN: The Florida Department of Insurance Thursday sued junk bond dealer Michael Milken, seeking more than $225 million that would benefit policyholders of the now-seized Guarantee Security Life Insurance Co. The suit was filed in U.S. District Court in Jacksonville, Fla. The Florida Department of Insurance seized Guarantee in August after the company was found insolvent. GUARANTEE WAS IN `DAISY CHAIN': The Florida Department of Insurance suit against Michael Milken and his brother Lowell alleges they "reaped millions of dollars in ill-gotten gains and profits" as a result of Guarantee's participation in their Drexel Burnham Lambert junk bond "daisy chain." The suit says Guarantee's securities trading losses from the Milken scheme are in excess of $232 million since 1985. BILL WOULD AID CENTERS: A measure that would provide federal grants to trauma-care centers that treat undocumented immigrants has been adopted as part of a larger health bill that will move to the House floor for debate in the next couple of weeks. The proposal would help centers that suffer a large percentage of uncompensated costs as a result of the care they give to immigrants in emergency situations. COLEMAN PUSHES FOR BILL: Hospitals in both Texas and California have been affected adversely because of immigrant care and have been appealing to the federal government for assistance for the past five years. Rep. Ron Coleman, D-Texas, has been introducing the legislation for almost as many years, congressional records show. This time, the proposal was attached to a bill by Rep. Henry Waxman, D-Calif. JOBLESS CLAIMS DOWN: The number of people filing new claims for unemployment benefits fell 21,000 the week ended Feb. 22, the Labor Department said Thursday, fueling hope that the employment picture is improving. Claims totaled 437,000, down from 458,000 the previous week. The four-week average of claims also fell, to 445,000 from 448,500. L.A. COUNTY GETS FUNDED: California Gov. Pete Wilson appropriated $400 million in Medicaid money to about 24 hospitals in Los Angeles County that serve the nation's largest population of uninsured patients. The county will receive half of the millions in federal funds to be doled out across the state in May, Wilson said. STATE CHILD-CARE SPENDING CITED: Massachusetts spent the most on child care and child development in 1990, and Idaho the least, according to a study from the Children's Defense Fund. Massachusetts spent $152.04 per child, compared to 24 cents per child in Idaho, reported the survey, which counted money states spend to help low-income families through programs similar to Head Start, which was not included. UTAH PLAN HAS PROGRAM FOR KIDS: Blue Cross and Blue Shield of Utah has joined 14 other Blue Cross and Blue Shield Plans around the country in establishing a Caring Program for Children. The program provides free primary health care benefits to children of families who cannot afford insurance. SPECIAL PACKAGE ON PLAN: BUSINESSES WOULD BE TAXED: Under a health care plan trumpeted by three Senate Democrats, businesses and individuals would be taxed to pay for a system offering care to everyone, without deductibles or co-payments. Individuals would choose their health-care provider. The government would collect the taxes and be the lone payer of health-care bills. It is similar to Canada's national health-care program. BILL ADDRESSES COSTS: Wellstone, the main Senate sponsor, and Simon said the single-payer plan addresses the most pressing needs in health care: Access for everyone, regardless of income, and cost control. Russo said this year's estimated $738 billion in spending on health care could be cut to $700 billion under the proposal. TAX PAYMENT OUTLINED: Employers with the plan would pay a 6% payroll tax. The corporate income tax would climb from 34% to 38% for businesses with more than $75,000 in profits. Individuals in the 28% tax bracket would pay 30%; those in the 31% bracket would pay 34%; incomes over $200,000 would be taxed at 38%. The elderly earning above 120% of the poverty level would pay $25 a month. (End of package.) Insurance Editor: Michele Coleman. (1-919-855-3491) Making copies of USA TODAY Update (Copyright, 1992) for further distribution violates federal law. This article is copyright 1992 Gannett News Service. 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