Second-quarter earnings at Molina Healthcare were five times higher than the same period last year. The managed-care insurer based in Long Beach, Calif., is almost exclusively focused on Medicaid populations.
Lower medical costs and more revenue from employer- and government-based health plans led to higher second-quarter profits for Cigna Corp., the Bloomfield, Conn.-based company reported Thursday.
Patricia Hemingway Hall, president and CEO of Health Care Service Corp., will retire at the end of the year. She has led HCSC, the Blue Cross and Blue Shield insurer for five states, since 2008.
Former CMS Administrator Marilyn Tavenner has resigned from LifePoint Health's board of directors following her appointment to head the insurance industry's powerful lobbying group.
Low medical costs and growth in Medicaid membership raised the second-quarter bottom line at Anthem. Now, the Indianapolis-based health insurer will turn its focus on getting approval for its $54.2 billion takeover of rival Cigna Corp.
Assurant Health absorbed a $124 million net loss in the second quarter this year as the financially troubled health insurer continues to wind down its operations. It had to settle a complaint in Montana that it illegally charged sicker enrollees more than healthier ones.
Wheaton College in suburban Chicago will stop offering health insurance plans to students beginning Friday in an effort to avoid providing birth control coverage mandated by the Affordable Care Act.
Health insurer Humana, which is being acquired by competitor Aetna, posted a year-over-year increase in its second-quarter profit. But that did little to suppress investor disappointment, as hospital and medical claims were again higher than expected.
Profit and revenue at Centene Corp. rapidly ascended in the second quarter, a trend that has defined the St. Louis-based health insurer for the past two years. The company's pending acquisition of Health Net has it primed for even larger growth.
Louisiana Health Cooperative, the state's not-for-profit health plan created by the Affordable Care Act, will close by the end of the year. It is the second co-op casualty, and a sign that many other co-ops are on life support.
Covered California enrollees will see premiums increase 4% in 2016, exchange officials said Monday. The increase is actually slightly less than the 4.2% jump consumers experienced between 2014 and 2015.
Anthem's announced $54.2 billion takeover of Cigna Corp. last week is the latest and largest sign of health insurers' lust for scale. But at the heart of the merger momentum is their desire to expand their government business, particularly in the lucrative Medicare Advantage market.