Good morning ... Hope you enjoyed your long weekend! Now get back to work.
It might be time to repeal and replace "repeal and replace," but some Republicans aren't ready to let that promise go, despite their very high-profile failure to achieve it. While many GOP policy experts are urging their party to move on to more realistic campaign rhetoric, some lawmakers told my colleague Caitlin Owens they want to keep the dream alive.
The bottom line: Continuing to promise something you've already failed to deliver is a risky move — but it's also risky to concede defeat on such a foundational issue, in what's shaping up to be a brutal primary season.
One possible solution: If at first you don't succeed, redefine success. Some Republicans told Caitlin they hope voters will accept smaller, more achievable conservative policy changes as a version of repeal.
People who receive premium subsidies through the ACA's exchanges can largely shield themselves from the double-digit premium hikes insurers are seeking for next year.
Yes, but: People who are in the individual market without receiving a subsidy will be stuck with the entire bill — facing premium hikes that could be as high as 50% in some parts of the country, even for plans that require them to spend thousands of dollars in deductibles.
Why it matters: People who make too much money for the ACA's subsidies aren't poor, but they're not necessarily rich enough to easily swing thousands of dollars in added health care costs. (The subsidies cut off at roughly $65,000 per year for a family of two, or $98,000 for a family of four.)
Stay alert Wednesday, when the Centers for Medicare and Medicaid Services unveils the best and worst Medicare Advantage plans for 2018 through its annual star ratings. And as my colleague Bob Herman reminds us, billions of dollars in bonus money will be on the line for insurers that sell those plans.
Looking ahead: Expect the 68% figure to go up for 2018, which means more dollars going to the industry. Humana, the second-largest Medicare Advantage insurer by enrollment, anticipates 74% of its members will be in four-star plans — up from the company's initial estimate of 37%. As several industry consultants have told Bob, it's all about the stars for Medicare Advantage companies.
2017 has already set a record for venture capital investments in life sciences companies, my colleague Dan Primack reports this morning. Through the end of September, investors had poured more than $12 billion into more than 800 companies, making life sciences almost 20% of all venture capital investments.
What's driving this trend? Dan breaks it down:
Go deeper: If you want to stay up on the world of deals and dealmaking, subscribe to Dan's newsletter, Pro Rata.
Regulators in Texas are looking into the state's largest nursing home operator amid complaints about how it handled Hurricane Harvey, according to an investigation by the Dallas Morning News.
The details, according to the Morning News:
Meanwhile, a Florida nursing home in which 12 residents died following Hurricane Irma has closed down and laid off its entire staff, the South Florida Sun-Sentinel reports.
What we're watching this week: President Trump is expected to issue at least one executive order on health care.
The Senate's on recess and the House has a relatively light week planned, health care-wise. The Energy and Commerce health subcommittee has a hearing scheduled for Wednesday on the 340B drug discount program.
What's on your mind? email@example.com