-- Connecting the dots between our economy, government and business --
Summary and audio linked here.
Chicago’s political leadership is floating a pension buyout program as evidence it is seriously addressing the city’s thirty-six-billion-dollar unfunded pension liability, but Mark Glennon, founder of the Illinois policy research organization Wirepoints, said that the proposal moves debt from one column to another rather than reducing it, and that the broader fiscal picture facing the city continues to deteriorate across every measurable dimension. Audio here.
Expect no retraction or apology. This what they do.
The state’s existing buyout program for its own pensions is the precedent for Chicago, which should be a warning: Look out for similar exaggerated claims and shoddy analysis.
Full interview and summary linked here.
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Medicaid in Illinois has major issues. They pay less than most states per billable event and they pay late. 1. Not surprising Illinois ranks in the bottom 5 states in the US as far as the fee schedule and per capita expenditures. 2. Prior to the switch to managed care in 2013-14 the physicians and ambulatory providers were waiting in excess of 60-90 days waiting for approved payment. Hospitals, skilled care facilities were waiting 200-300 days. 3. Denials were common and appeals frustrating. And hospitals and doctors complained, about rates,slow payment and denials. In the new managed care environment where… Read more »