‘In The News’ Archives
Healthcare Law Encourages Business to Cut Back Benefits
The Health Care law contains a number of policies that create perverse financial incentives for employers to stop offering health insurance to their employees. House Republicans on the Ways and Means Committee said employers would save billions of dollars if they quit offering health coverage to their employees and instead pushed workers into [...]
Regulators Eye a Maneuver Meant to Cut Health-Care Costs
Federal regulators are now scrutinizing whether small companies with relatively healthy employees will pull out of the group health insurance market by self-insuring. That could make premiums for traditional health insurance plans unaffordable for the businesses that remain. That’s why the health-reform law has mandates for both individuals [...]
Healthcare’s Future: Comparison Shopping?
Castlight Health is now giving insurance subscribers meaningful information on healthcare costs. Castlight wants to bring comparison shopping to health care. The company nabbed the top spot on The Wall Street Journal’s list of 50 Top Venture Backed Companies last year and earned the endorsement of health care heavyweight the Cleveland Clinic, [...]
Insurance Rate-Hike Initiative Gains High-Profile Backers
A proposed ballot initiative seeks to give the California Department of Insurance the same rate-setting authority over health insurance that it already holds over auto and property coverage. Several high-profile business names, such as San Francisco hedge-fund manager Thomas Steyer and agribusiness magnate Stewart Resnick, have contributed to the [...]
Most Americans Lack Comprehensive Retirement Plans
According to a survey by the Society of Actuaries of 1,600 retired or close-to-retirement investors 45-80, just 35% said they have a detailed retirement road map designed to manage the risk of running out of money. That incidence is virtually unchanged since 2005. Meanwhile, 57% of retirees said they have a risk management strategy in place, up [...]
Conflicts Arise As Health Insurers Diversify
As insurers eager to add revenue streams convert themselves into diversified health-services companies, they often buy business adversaries, including physician groups and hospital consultants. They also buy technology companies and research firms that serve medical-care providers, raising questions not only about independence, but also about the [...]
Consumer Advocates Protest Health Rate Hikes
Anthem Blue Cross patients facing health insurance rate hikes on May 1st –among 1 million Californians who will see rates – will join with consumer advocates authoring a ballot measure to force health insurance companies to get permission before raising rates. The patients will discuss their plight as part of the "May Million" and sign the [...]
Molina Healthcare Fights to Keep Growing
Molina Healthcare has lost two key state contracts recently, and its stock has tumbled. The company, which serves exclusively as a managed-care plan for government programs such as Medicaid and Medicare, said these were only temporary set backs. Healthcare companies are competing to profit from a flood of government contracts for treating the [...]
Wellpoint Profit Falls 8 Percent
WellPoint says lower enrollment and rising medical costs have hurt its bottom line. Revenue grew 4% to $15.42 billion in the quarter. The company reported net income of $856.5 million, or $2.53 a share, for the three months ended March 31, compared to net income of $926.6 million or $2.44 a share, a year ago. In recent quarters, most health [...]
Health Companies to Rebate More Than $1 Billion
Health insurance companies will have to pay out more than $1 billion in rebates to customers this year for spending too little of the premiums they receive on medical care, according to two new reports. The rebates will total $1.3 billion this year because, according to the new health reform law, the companies are required to spend 80% to 85 [...]
