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A french inventor introduced the ‘Corbicyclette’ — a hearse-bicycle hybrid that offers a green alternative to the traditional funeral procession.

In today’s email:

  • Teeth: A vote to change dental insurance.
  • Chart: T-Swift owns the charts.
  • Weekend reads: For your Sunday brick tea.
  • Around the Web: Exploring pyramids, tracking your vote, a rude dog, and more cool internet finds.

🎧 On the go? Listen to today’s 10-minute podcast to hear Zack and Juliet discuss why dental insurance is so weird, what’s up with airlines, Zack’s WhatsApp nightmare, and more.

The big idea
dental cleaning

How Massachusetts’ election could change dental insurance

Dental insurance is confusing, and not just because you need entirely separate insurance just for your mouth bones.

There’s also very little transparency into how insurers spend their money — something a Massachusetts ballot initiative aims to change.

Some background

Medical loss ratio (MLR) is the percentage of premium revenue spent on medical claims and improvements to care, versus admin costs and profit.

  • Per the Affordable Care Act, US health insurers must meet a minimum MLR of 80% or issue rebates to patients.
  • This year’s rebates are expected to total ~$1B, or ~$128 per customer.

Dental insurers don’t have minimum MLRs, and only California and Maine require annual reports — so we don’t even know most insurers’ MLR.

Massachusetts’ Ballot Question 2…

… would set a minimum MLR of 83% for state dental insurers, and require them to share financial data.

If passed, it would be the first such law in the US.

In favor: Dentists.

“It’s a baseline protection,” Dr. Andrew Tonelli, spokesperson for Massachusetts Dental Care Providers for Better Dental Benefits, told The Hustle. “If a patient walks into my chair and they have dental insurance, I can at least rest assured that they’re getting a reasonable deal.”

  • The Committee on Dental Insurance Quality asserts that in 2019, the state’s largest insurer, Delta Dental, paid $382m in exec bonuses, commissions, and payments to affiliates, compared to $177m on patient care.

Opposed: Dental insurers, who claim premiums would increase as much as 38% (citing a study commissioned by a trade group for dental insurers).

An analysis by Evan Horowitz, executive director of Tufts University’s Center for State Policy Analysis, found that Question 2 likely wouldn’t transform insurance, and that any price increases would be minimal.

But, he told Boston.com, the financial reporting would help us understand the market and inform “future laws around solving problems for patients and participants.”

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TRENDING
eyeball wearing a hat

Wow: Model Heidi Klum won Halloween with her hyper-realistic worm costume, and got squirmy on TikTok in the process.

SNIPPETS

Elon Musk reportedly plans to cut ~3.7k jobs at Twitter, about half the company, in an effort to cut costs starting Friday.

Elsewhere, Amazon paused hiring for its corporate workforce, payments giant Stripe is laying off ~14% of its staff, and Lyft is cutting 13%.

WhatsApp launched Communities, a discussion feature for groups of up to 1,024 people.

Record breaker: The 2022 US midterm elections are projected to cost $16.7B+, making them the most expensive midterms ever.

OpenAI released the DALL-E API for public beta, allowing companies to now integrate the AI-image generator into their products. The API will charge per image.

Wow: Apple is now worth $2.307T, just ahead of Amazon, Alphabet, and Meta’s combined value of $2.306T.

Wayfair’s net revenue dropped 9% YoY to $2.8B in Q3. The furniture retailer also lost 1m active customers, or 4%+ of its base.

HR tech is on track to receive another $18B in VC funding this year. We tapped Trendster Matt Alder to unwrap three opportunities in the recruitment space.

SPREAD THE WORD
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Brad (our boss) is making us sleep at the office until 100 people use this link to share The Hustle with a friend. Now, should we remind him we work from home or nah?

Share The Hustle 🤠 →
Chart
Taylor Swift top 10 songs
Olivia Heller

Taylor Swift’s record week

Taylor Swift has accomplished many things, but this week she did something that’s never been done.

After dropping her latest album, Midnights, last Friday, she promptly took over the entire top 10 of the Billboard Hot 100.

The closest anyone’s come to accomplishing the feat was Drake, who took over nine out of 10 spots last September.

Swift’s takeover…

… coincides with what industry execs say is the hardest time for new artists to break through.

  • TikTok has been touted as the great equalizer where anyone can blow up, but industry vet Bob Lefsetz says the platform complicates things for label execs since virality is difficult to engineer.

In this landscape, established artists like T-Swift and Drake, who have massive followings across social media, have an edge.

By the way, Drake released a new album this morning, meaning Swift’s reign at the top could be in jeopardy.

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Free Resource

Easily recyclable Instagram templates

If you’re not promoting your product on Instagram, that’s a clown move.

At the least, your profile can be a smooth landing page for perusers — Instagram claims a whopping 70% of shoppers use its platform to discover new products.

So, cultivate some bam for the ‘gram. Turn these 22 eye-catching templates into hundreds of posts and stories with some simple draggage of the mouse.

How convenient:

  • 14 templates for Instagram Posts
  • 8 templates for Instagram Stories

Nine in total are dedicated to quotes, since those slap, too.

22 Insta-brand templates →
Recs
Weekend Reads

Welcome to Weekend Reads…

… Recs to pair with your Friday oolong, Saturday Darjeeling, or Sunday brick tea.

ICYMI:

  • Juliet explored the strange business history of the Ouija board.
  • Watch our quick video about how Ray Dalio helped launch McDonald’s chicken nuggets.
  • The Hustle blog wrote about how to avoid toxic productivity and pace yourself for the best results.

Spot the fake:

AROUND THE WEB

🥊 On this day: In 1924, California legalized boxing after banning the sport for a decade due to safety concerns.

🎧 Podcast: Listen to this episode of AugMentors to find out how you can be both the “intentional mentor” and “the unexpected leader.”

👀 That’s cool: Virtually explore the Great Pyramid of Giza.

🗳️ How to: Track your ballot in the upcoming election.

🐶 Aww: Wow, rude.

Shower Thoughts
  1. “Nothing makes you feel more like The Main Character than starting your car just as a song starts playing on the radio.”   SOURCE

  2. “No compliment lands quite like the dental hygienist telling you you’re doing a great job.”  SOURCE

  3. “Saying you did something at 5am makes you sound disciplined. Saying you did something at 4am makes you sound irresponsible.”  SOURCE

  4. “Despite thousands of people passing away in them each year, you never hear about haunted senior care homes.”  SOURCE

  5. “Soon, tombstones will probably have QR codes on them that share the life stories of those buried there.”  SOURCE

 
via Reddit
How did you like today’s email?
Today’s email was brought to you by Jacob Cohen, Juliet Bennett Rylah, and Rob Litterst.
Editing by: Mark “Floss is my dental insurance” Dent.

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