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Coventry Health Care
Выбор редакции
18 октября, 21:30

Frustration runs deep for customers forced to change Obamacare plans routinely

Andrea Schankman's three-year relationship with her insurer, Coventry Health Care of Missouri, has been contentious, with disputes over what treatments it would pay for. Nonetheless, like other Missourians, Schankman was unnerved to receive a notice from Coventry last month informing her that her policy was not being offered in 2017.

26 февраля 2015, 09:36

Health Insurers Find ObamaCare Headwinds Easing - Industry Outlook

Health Insurers Find ObamaCare Headwinds Easing - Industry Outlook

03 февраля 2015, 18:58

Aetna Posts In-Line Q4 Earnings, Beats Revenues, Guides Up - Analyst Blog

Aetna (AET) reported fourth-quarter 2014 earnings of $1.22 per share, in line with the Zacks Consensus Estimate. Earnings, however, declined 16% year over year.

Выбор редакции
25 июня 2014, 16:14

США: Aetna планирует продать ряд активов Coventry за $1,5 млрд

По сведениям из осведомленного источника, третья по величине в США страховая компания Aetna рассматривает возможность продажи ряда активов фирмы Coventry Health Care. Стоит отметить, что стоимость сделки, в проведении которой задействован кредитор Bank of America Merrill Lynch, может составить $1,5 млрд.

25 июня 2014, 15:38

Frontrunning: June 25

Obama Administration Widens Export Potential for U.S. Oil (BBG) WTI Pares Gains as U.S. Export Ruling Seen Limited (BBG) Senator Cochran defeats Tea Party rival in Mississippi Republican runoff (Reuters) Militants attack Iraq air base, U.S. assessment teams deploy (Reuters) Maliki rules out national emergency govt (AFP) Abe Declares Deflation End as Growth Plan Confronts Skeptics (BBG) Koch to Start EU Power Trading as It Plans LNG Expansion (BBG) Obama Said to Ready Sanctions on Russian Industries (BBG) Ghana Sends Plane With $3 Million to Calm World Cup Team (BBG) Ghana’s First Hedge Fund Planned by Ex-Exchange Regulator (BBG) SEC Is Gearing Up to Focus on Ratings Firms (WSJ) Russian lawmakers revoke right to send troops into Ukraine (Reuters) French Growth to Miss Hollande’s Target in 2014, Insee Says (BBG) Cash stash may reflect fear of wealth going out of fashion (Reuters) What's a constitution? Federal judge rules U.S. no-fly list violates Constitution (Reuters)   Overnight Media Digest WSJ * Best Buy Co Inc is considering options, including a sale or partnership, for its Chinese business, according to people familiar with the matter. (http://on.wsj.com/1qv3KpY) * Google Inc on Tuesday officially began offering the Livestream video-sharing app in its MyGlass store. The software lets Glass wearers share what they are seeing and hearing with other Livestream account holders free of charge by using the command, "OK Glass, start broadcasting." (http://on.wsj.com/1mlz8GP) * The head of the Securities and Exchange Commission's Office of Credit Ratings, Thomas Butler, said he has referred multiple cases involving rating firms to the agency's enforcement division and is helping complete several industry regulations to address quality and transparency in how big debt deals are rated. (http://on.wsj.com/VlyaR3) * Walgreen Co Chief Executive Greg Wasson on Tuesday said for the first time that the company is weighing moving outside of the United States, as it considers buying the shares it doesn't already own in European pharmacy Alliance Boots GmbH. (http://on.wsj.com/1lomwOU) * Brazil's government agreed Tuesday to sign over additional production rights for potentially huge oil fields to state-run oil company Petroleo Brasileiro SA, in exchange for billions of dollars in advance payments. (http://on.wsj.com/1lOcRkd) * Whole Foods Market Inc will pay about $800,000 in penalties and fees after an investigation found the grocery retailer was overcharging customers in California. (http://on.wsj.com/1o1gOT3) * Consumer and safety groups are urging the Federal Trade Commission to investigate their allegations that used-vehicle retailer CarMax Inc is failing to check the safety-recall status of the vehicles it sells. (http://on.wsj.com/1wv4qy4) * Ford Motor Co executives on Tuesday unveiled a redesigned Edge sport-utility vehicle, and confirmed they will launch it in Europe to compete against BMW AG, Daimler AG's Mercedes-Benz and Volkswagen AG's Audi in the growing market for luxury SUVs. (http://on.wsj.com/1v3U7yC) * Canada's BlackBerry Ltd has laid off 65 employees who were mainly focused on developing mobile apps for consumers, further underscoring the smartphone maker's focus on the enterprise market to return to profitability. (http://on.wsj.com/1pzAuwK)   FT Rebekah Brooks was cleared of all charges of phone hacking while Andy Coulson, British Prime Minister David Cameron's former press secretary, was convicted at the Old Bailey of conspiracy to intercept voicemail messages. British MPs have accused Bank of England governor, Mark Carney, of sending out confusing signals over the timing of interest rate rises, with one likening him to an "unreliable boyfriend." China has proposed doubling the size of registered capital for a proposed global financial institution to $100 billion, to establish a rival to the World Bank and the Asian Development Bank, which Beijing fears are too influenced by the United States and its allies. U.S. spymasters are stepping up their reliance on Amazon's burgeoning cloud computing infrastructure and are looking to use cloud-based commercial software in their analytical work. In one of the most outspoken criticisms of western monetary policy by a business leader to date, an industry veteran has said that central bankers are "ruining" the insurance sector by keeping interest rates at historic lows.   NYT * Rebekah Brooks, the former head of Rupert Murdoch's newspaper holdings in Britain, was cleared of phone hacking charges, but her onetime deputy Andy Coulson was found guilty on at least one count. (http://nyti.ms/1mmkcbq) * Lagardere SCA's Hachette Book Group said on Tuesday it would buy Perseus Books Group, the country's sixth-largest trade publisher. (http://nyti.ms/1lot9km) * Walgreen Co, the largest drugstore operator in the United States, withdrew its profit and revenue forecasts for 2016, saying it had yet to work out aspects of its planned acquisition of the European drug retailer Alliance Boots. (http://nyti.ms/Vm8GTD) * Endo International Plc said on Tuesday that it had reached an agreement to acquire generic drugmaker Dava Pharmaceuticals for up to $600 million. (http://nyti.ms/1q7m7U4) * AT&T Inc and DirecTV told members of Congress on Tuesday that their proposed $48.5 billion merger would be so good for competition that it would do something that has rarely, if ever, happened: pressure cable companies to lower prices. (http://nyti.ms/1jLnFM0) * Whole Foods Market Inc will pay about $800,000 in penalties and fees after an investigation found the grocery retailer was overcharging customers in California. (http://nyti.ms/1rwxQZY) * A coalition of 11 consumer groups has asked Federal Trade Commission to investigate CarMax Inc over unfixed recalled cars. The groups say CarMax does not fix vehicles that have been recalled before it sells them, even though the retailer's ads promise that the vehicles have had a rigorous quality inspection. (http://nyti.ms/1yM6m7x) * Andrew Balson, a longtime managing director at the Boston-based private equity firm Bain Capital, has left to start a new investment fund. (http://nyti.ms/1losnnp)   Canada THE GLOBE AND MAIL ** Ontario MPP Christine Elliott is set to announce a bid for the leadership of Ontario's Progressive Conservatives as the party seeks to rebuild after its devastating election loss. (http://bit.ly/1rx1BtH) ** Raytheon International Inc, a unit of U.S. defence contractor Raytheon Co, lobbied a Canadian senator in the weeks leading up to a Senate report urging Canada to join the warhead interception network, a meeting that raises questions about the credibility of this recommendation. (http://bit.ly/1qvtCBO) Reports in the business section: ** Canada is becoming a country of two solitudes when it comes to business investment, according to a report released by C.D. Howe institute. The report theorizes that governments in parts of the country may be crowding out and dissuading private investment. The blockage lies in Quebec, Ontario and much of Atlantic Canada, according to the report. (http://bit.ly/1jhlPTc) NATIONAL POST ** Canadian Prime Minister Stephen Harper urged Quebec on Tuesday to resist isolating itself from the rest of the country. In a speech marking Quebec's annual holiday known as Fete nationale, Harper also asked Quebecers to consider voting for his party in October 2015. (http://bit.ly/1mnz1up) FINANCIAL POST ** Eric Sprott, a former analyst who formed a brokerage firm before setting up his own money management firm two decades back and who is generally regarded as one of the country's legendary precious metals' investors, is reducing his stake in Sprott Inc. He announced Tuesday he was selling at least 25 million shares in Sprott at $3 per share. (http://bit.ly/1jhelzC) ** Canada Pension Plan Investment Board named Heather Munroe-Blum as the chairperson of the board of directors. Her three-year term begins Oct. 27. Munroe-Blum, who spent a decade as principal and vice-chancellor of McGill university, replaces Robert Astley, who has been chairperson since 2008. (http://bit.ly/1iEEf5k)   China CHINA SECURITIES JOURNAL - China said it would support the integrated circuit industry and the aim was to increase the sales revenue of the industry to 350 billion yuan ($56.2 billion) by 2015. SECURITIES TIMES - Beijing Enlight Media Co and Huayi Brothers Media Corp said they plan to issue 2.8 billion yuan and 2.5 billion yuan ($451 million and $402.6 million) respectively via private placement offerings. CHINA DAILY - China has make clear it does not make trouble with its neighbours but is not afraid to take action if others create them, it said in a commentary. PEOPLE'S DAILY - Government officials should avoid corruption and illegal possession and must do real work, said a commentary of the newspaper. - China security policy should focus on retail investors' benefits, the newspaper said in a commentary in its overseas edition. Britain The Telegraph MARK CARNEY PLAYS DOWN IMMINENT RATE RISE AMID WEAK WAGE GROWTH (http://bit.ly/1iuVrui) The Bank of England is behaving like an "unreliable boyfriend" and is using "smoke and mirrors" to keep changing its message on interest rates, MPs have claimed. OIL AND GAS EXPLORATION BLOCKS EXPANDED TO ENTICE FRACKING FIRMS (http://bit.ly/TgZrlL) Energy companies will be offered the chance to explore for shale gas across bigger blocks of land, under a revised system aimed at enticing them to commit to fracking. The Guardian VINCE CABLE MOVES TO BAN ZERO-HOURS CONTRACT EXCLUSIVITY CLAUSES (http://bit.ly/1iuVJRN) Vince Cable has warned "unscrupulous employers" that he would ban clauses in zero-hours contracts that prevent workers from accepting shifts with more than one employer. MINISTERS WARN UK RETAILERS TO DO MORE ON HUMAN RIGHTS AND ETHICAL PRODUCTS (http://bit.ly/1quTCNP) Retailers must do more to stamp out human rights abuses by their suppliers after a Guardian investigation found prawns sold in the UK were produced with the help of slaves, ministers are warning. The Times CARNEY URGED TO BAR CURBS ON HOME LOANS (http://thetim.es/1rvUVfn) Bankers seized on fresh evidence that the housing market may be starting to cool to urge the Bank of England to stay its hand and refrain from widely expected curbs on mortgage lending tomorrow. FIRST-TIME BUYERS PRICED OUT OF 80 PCT OF HOUSES (http://thetim.es/1iDa0vo) Four out of five homes on sale in England are now unaffordable for first-time buyers, according to research published today. The Independent CHEMRING FIRES CEO MARK PAPWORTH AFTER HUGE LOSSES (http://ind.pn/1pzkkTX) Military equipment maker Chemring has fired chief Mark Papworth after the group was rocked by a 72 million pound pre-tax loss in just six months. MARK CARNEY PLUNGES MARKETS INTO CONFUSION YET AGAIN OVER EARLY RATE TALK (http://ind.pn/1quUbXQ) Traders were thrown into confusion as Governor Mark Carney issued an unexpectedly dovish signal about the likely timing of the first interest rate rise.   Fly On The Wall 7:00 AM Market Snapshot ECONOMIC REPORTS Domestic economic reports scheduled today include: Q1 GDP growth at 8:30--consensus -1.8% Durable goods orders for May at 8:30--consensus flat ANALYST RESEARCH Upgrades Brunswick (BC) upgraded to Buy from Hold at KeyBanc Kraton Performance (KRA) upgraded to Outperform from Perform at Oppenheimer Men's Wearhouse (MW) upgraded to Outperform from Market Perform at Cowen Restoration Hardware (RH) upgraded to Buy from Neutral at BofA/Merrill Tel. Corp of New Zealand (NZT) upgraded to Buy from Neutral at BofA/Merrill Trinity Industries (TRN) upgraded to Buy from Neutral at UBS Walgreens (WAG) upgraded to Buy from Hold at Jefferies zulily (ZU) upgraded to Buy from Neutral at Goldman Downgrades Coach (COH) downgraded to Underperform from Neutral at BofA/Merrill EV Energy (EVEP) downgraded to Hold from Buy at Wunderlich Harley-Davidson (HOG) downgraded to Hold from Buy at KeyBanc Initiations AerCap (AER) coverage resumed with a Buy at Citigroup Brown Shoe (BWS) initiated with a Buy at Buckingham Brunswick (BC) initiated with a Sector Perform at RBC Capital Concur (CNQR) initiated with a Buy at Roth Capital Dollar General (DG) initiated with an Equal Weight at Morgan Stanley Dollar Tree (DLTR) initiated with an Equal Weight at Morgan Stanley Finish Line (FINL) initiated with a Neutral at Buckingham Foot Locker (FL) initiated with a Buy at Buckingham Harley-Davidson (HOG) initiated with a Sector Perform at RBC Capital Hibbett Sports (HIBB) initiated with an Outperform at BMO Capital ImmunoGen (IMGN) initiated with an Underweight at Morgan Stanley Kroger (KR) initiated with an Overweight at Morgan Stanley Media General (MEG) initiated with an Outperform at Wedbush Polaris Industries (PII) initiated with an Outperform at RBC Capital SuperValu (SVU) initiated with an Underweight at Morgan Stanley Sysco (SYY) initiated with an Equal Weight at Morgan Stanley The Fresh Market (TFM) initiated with an Underweight at Morgan Stanley Time Inc. (TIME) initiated with a Market Perform at FBR Capital Volcano (VOLC) initiated with a Hold at Cantor Whole Foods (WFM) initiated with an Overweight at Morgan Stanley COMPANY NEWS Bristol-Myers Squibb (BMY) said that a Phase 3 study of nivolumab was halted early due to superior data IMS Health Holding said it will acquire certain Cegedim businesses for $520M Affymax (AFFY) board announced a decision to dissolve company Aerie Pharmaceuticals (AERI) said Roclatan showed positive Phase 2b results  Hanesbrands (HBI) said it will acquire DBApparel, acquisition to add 25c in adjusted EPS in 2015 FOX Television (FOXA), Cox Media said they would swap affiliated stations Shire (SHPG) said New Jersey court found Vyvanse patents infringed (ACT, MYL, NVS) EARNINGS Companies that missed consensus earnings expectations include: Apogee Enterprises (APOG) Apogee Enterprises (APOG) raises FY15 EPS view to $1.40-$1.50 from $1.35-$1.50 Valmont (VMI) sees Q2 EPS $2.35-$2.40, consensus $2.79 Valmont (VMI) lowers FY14 EPS view to $9.35-$9.65 from prior view $10.00-$10.50 PAREXEL (PRXL) sees FY15 GAAP EPS $2.51-$2.75, consensus $2.56 PAREXEL (PRXL) backs FY14 adjusted EPS view $2.11-$2.15, consensus $2.13 PAREXEL (PRXL) backs Q4 GAAP EPS view 59c-63c, consensus 61c Team (TISI) now sees FY14 adjusted EPS $1.45, consensus $1.57 Team (TISI) budgeting for FY15 EPS target of $2.00, consensus $2.05 Team (TISI) sees Q4 adjusted EPS 60c, consensus 71c NEWSPAPERS/WEBSITES Best Buy (BBY) considers sale of China business, WSJ reports Google (GOOG) expected to unveil TV set-top box at developer conference, WSJ reports (AMZN, AAPL) AbbVie (ABBV) may have to raise Shire (SHPG) bid to $51B, Bloomberg reports Potential penalty against BNP Paribas (BNPQY) worries other European banks, WSJ says (DB, UNCFF, CRARY) Aetna (AET) contemplates Coventry Health Care assets sale, Reuters reports Ford (F) expands recall of 2014 F-150 trucks, Detroit News reports Vertex (VRTX) risky after 40% jump in stock price, Barron's says E.U. antitrust regulators to decide on Apple (AAPL), Beats agreement, Reuters reports SYNDICATE Actinium Pharmaceuticals (ATNM) files to sell common stock CVR Refining (CVRR) files to sell 6M units representing limited partners Dominion (D) files to sell 18M equity units G-III Apparel (GIII) 1.5M share Secondary priced at $77.63 Golar LNG (GLNG) 11M share offering priced at $54 Heron Therapeutics (HRTX) files to sell common stock Hilton (HLT) 90M share Secondary priced at $22.50 Imprivata (IMPR) 5M share IPO priced at $15.00 Materialise (MTLS) 8M share IPO priced at $12.00 Ultragenyx (RARE) files to sell $100M in common stock     

Выбор редакции
25 июня 2014, 01:50

Exclusive: Aetna mulls sale of Coventry Health Care assets - sources

Aetna is working with Bank of America Merrill Lynch on a sale process for Coventry's workers' compensation business that is expected to attract interest from other companies in the sector as well as private equity firms. Aetna and Bank of America Merrill Lynch declined to comment. The sale process reaffirms that Aetna's acquisition of Coventry was always about boosting its share of the fast-growing, U.S. government-backed Medicare and Medicaid programs. Aetna has its own workers' compensation business called Workers' Comp Access.

15 января 2014, 20:57

Genius Missouri Bill Will Kill Obamacare By Putting Insurance Companies Out Of Business: The View from The Roasterie LXXV (January 15, 2014): Wednesday Massive Resistance Weblogging

Outsourced to: Doktor Zoom: Genius Missouri Bill Will Kill Obamacare By Putting Insurance Companies Out Of Business: "OK, so shutting down the government didn’t work, and the House repealing it umpty-eleven times didn’t work, and the website does work, but maybe it’s not too late for states to save their citizens from the horror of having health insurance. They could maybe try the genius plan introduced in the Missouri Senate by state Sen. John Lamping: The bill would suspend insurance companies’ state licenses if they accepted subsidies offered by the federal government to help pay health insurance premiums for low- and middle-income Missourians.... Lamping figures that the subsidies are illegal and will totally be declared unconstitutional.... So if you preemptively act as if they are illegal, and punish insurance companies that accept them, somehow that will make the employer mandate go away, hooray! And if insurance companies do comply with the law and accept the subsidies, they’ll be prohibited from doing business in Missouri, and then once the insurance companies are all gone, everyone will be healthy forever. We’re not entirely sure that Lamping has thought this through. This is only the latest in a number of attempts by Missouri to make a federal law cease to exist. Missourians voted in 2010 against the individual mandate... in 2012 they voted to not set up a state exchange, which once again stopped Obamacare dead in its tracks. But hey, if they actually manage to strip licenses from the only two companies selling plans on the exchange in Missouri, Anthem Blue Cross Blue Shield and Coventry Health Care, then that should pretty well make Obamacare unworkable, as well as leaving huge numbers of Missourians without insurance.... Lamping says he didn’t think of this smart plan all by himself. He had some help from Cato Institute health policy weasel Michael Cannon.... It’s uncertain whether the bill is likely to make progress in the Missouri lege; if it fails, opponents of Obamacare may resolve to contract expensive chronic illnesses to bankrupt the system. That’ll show the meddling federal bastards.

Выбор редакции
30 сентября 2013, 16:00

What If They Created An Obamacare Market And Nobody Showed Up?

In early September, Aetna subsidiary Carelink/Coventry Health Care decided to pull out of the new insurance exchange established by Obamacare in West Virginia. Just one company will sell policies on the Mountaineer State's exchange, which is set to open October 1.

29 сентября 2013, 03:53

As A Result Of Obamacare, Employer-Based Health Insurance Is Becoming Extinct

Submitted by Michael Snyder of The Economic Collapse blog, Barack Obama promised to fundamentally transform America, and when it comes to health care he has definitely kept his promise.  Thanks to Obamacare, health care spending is up, health insurance premiums are up, the number of hours Americans are working is down and employer-based health insurance is becoming an endangered species.  Of course employer-based health insurance will not disappear completely any time soon, but it has been steadily shrinking for over a decade, and Obamacare will greatly accelerate that decline.   If you go back to 1999, 64.1 percent of all Americans were covered by employment-based health insurance.  That was pretty good.  Today, only 54.9 percent of all Americans are covered by employment-based health insurance, and now thousands upon thousands of U.S. employers are considering reducing the scope of the health plans they offer to employees or eliminating them altogether due to Obamacare.  If you are thinking that this sounds like a potential nightmare for millions of Americans families, you would be exactly right. There have already been widespread reports of companies dropping health insurance, but nobody knows for sure how widespread the carnage will be.  According to Businessweek, the surveys that have been done up to this point have come up with widely varying results... A Deloitte study last year suggested 10 percent of employers would stop offering group health plans. A widely criticized McKinsey report from 2011 put the number as high as one-third. The Congressional Budget Office’s latest projections suggest 8 million fewer people will be covered by employer plans five years from now under the ACA than without it. Many of them will get policies through health insurance exchanges instead. But what everyone does agree on is that employer-based health coverage will continue to diminish. And we are already watching this happen right in front of our eyes.  Just this week, the Wall Street Journal reported that the largest security guard firm in the United States is dropping health coverage for 55,000 employees... The nation's largest provider of security guards plans to discontinue its lowest-cost health plans and steer roughly 55,000 workers to new government-sponsored insurance exchanges for coverage next year, in the latest sign of the fraying ties between employment and health care. The U.S. arm of Sweden's Securitas AB is among more than 1,200 employers that offer the kind of bare-bones health plans that must be phased out beginning Jan. 1 under the health-care law. Nearly four million people are enrolled in these so-called mini-med plans, which cap benefits to participants, sometimes at as little as $3,000 a year. "The mini-meds go away and we're not replacing them," said Jim McNulty, a spokesman for Securitas's U.S. operation. "Their option is to go to the exchanges." Other big employers, including Darden Restaurants Inc., Home Depot Inc. and Trader Joe's Co., say they will stop offering health insurance to part-time workers, and will direct those employees to the state exchanges. Darden, Home Depot and Trader Joe's previously offered mini-meds to their part timers. Speaking of Trader Joe's, I wrote about how they are eliminating health coverage for part-time workers the other day.  Instead of providing health insurance for their part-time workers, Trader Joe's will be writing them a check and pushing them on to the Obamacare exchanges... Trader Joe's, the grocer once lauded for providing health care coverage to its part-time workers, is about to push those employees off its plan. According to a memo obtained by the Huffington Post, the company will stop covering employees who work less than 30 hours per week. The change is set for the start of 2014. Instead of insurance, workers instead will get a check for $500 in January. "Depending on income you may earn outside of Trader Joe's, we believe that with the $500 from Trader Joe's and the tax credits available under the [Affordable Care Act (ACA)], many of you should be able to obtain health care coverage at very little if any net cost to you," said Trader Joe CEO Dan Bane in the memo. And this is a huge reason why the shift from full-time work to part-time work in America has accelerated this year.  Obamacare creates an incentive for companies to have more part-time workers and less full-time workers.  In fact, almost all of the jobs that have been "created" by the U.S. economy in 2013 have been part-time jobs. But it is incredibly difficult to try to support a family on a part-time job.  Sadly, the quality of our jobs continues to decline rapidly and only 47 percent of all adults have a full-time job in America today.  This is only going to continue to get even worse under Obamacare. As a result of these trends, more Americans are going to be forced to go out and buy health insurance "on the individual market".  When they do, they are likely to be in for a really nasty surprise... Andy and Amy Mangione of Louisville, Ky. and their two boys are just the kind of people who should be helped by ObamaCare. But they recently got a nasty surprise in the mail. "When I saw the letter when I came home from work," Andy said, describing the large red wording on the envelope from his insurance carrier, "(it said) 'your action required, benefit changes, act now.' Of course I opened it immediately." It had stunning news. Insurance for the Mangiones and their two boys,which they bought on the individual market, was going to almost triple in 2014 --- from $333 a month to $965. The insurance carrier made it clear the increase was in order to be compliant with the new health care law. Are you ready to have your health insurance premiums potentially double or triple? In other cases, families are discovering that health insurance companies are simply cancelling their health insurance plans... Across the country, insurers are sending out ObamaCare-induced health plan death notices to untold tens of thousands of other customers in the individual market. Twitter users are posting their ObamaCare cancellation notices and accompanying rate increases: Linda Deright posted her letter from Regency of Washington state: "63 percent jump, old policy of 15 yrs. cancelled." Karen J. Dugan wrote: "Received same notice from Blue Shield CA for our small business. Driving into exchange and no info since online site is down." Chris Birk wrote: "Got notice from BCBS that my current health plan is not ACA compliant. New plan 2x as costly for worse coverage." Small-business owner Villi Wilson posted his letter from HMSA Blue Cross Blue Shield canceling his individual plan and added: "I thought Obama said if I like my health care plan I can keep my health care plan." In fact, this even happened to one member of Congress.  U.S. Representative Cory Gardner had purchased health insurance on his own because he wanted to experience what his constituents were going through, and he recently got a letter informing him that his old plan had been "discontinued"... "After my current plan is discontinued," he wrote last week, "the closest comparable plan through our current provider will cost over 100 percent more, going from roughly $650 a month to $1,480 per month." He now carries his ObamaCare cancellation notice with him as hardcore proof of the Democrats' ultimate deception. Is this what Obama was talking about when he promised that we could keep our old health insurance plans if we were happy with them? In the end, millions upon millions of us are going to get pushed on to the Obamacare health insurance exchanges. We were promised that there would be lots of competition and that prices would be reasonable. Unfortunately, in some areas of the country it turns out that the "exchanges" are turning out to be "monopolies" where consumers will only have one company to choose from... “Although seven insurance companies currently operate in North Carolina, under the new Obamacare exchanges, those options will dwindle down to one in the majority of counties,” Ellmers said Thursday following the disclosure of figures by federal health officials showing that more than 60 percent of North Carolina counties will have only one insurance provider option under Obamacare: Blue Cross Blue Shield. “The whole point of an online marketplace was to provide options, so North Carolinians could go online, compare prices, and choose plans from different companies. That is how competition is supposed to work!,” Ellmers said. Beginning October 1 under Obamacare, Blue Cross Blue Shield will be the only health insurance provider serving the entire state of North Carolina in the new Obamacare exchanges, serving all 100 of the state’s counties. Its competitor Coventry Health Care, which is owned by Aetna, will only reach 39 counties. That leaves 61 counties, or 61 percent of all the state’s counties, in a Blue Cross Blue Shield-only zone. Not only that, but a lot of these exchanges are not even going to be ready to function properly on October 1st.  For example, according to the Washington Post, the D.C. "health marketplace" is a complete and total mess at this point... Just days away from launch, the District of Columbia's health marketplace is announcing a pretty significant delay. While the D.C. Health Link will launch a Web site on October 1, shoppers will not have access to the their premium prices until mid-November. The delay comes after the District marketplace discovered "a high error rate" in calculating the tax credits that low- and middle-income people will use to purchase insurance on the marketplace. The insurance marketplaces, if working as plan, are supposed to spit out an estimate for a tax credit after a shopper enters in some basic information about where she lives and how much she earns. In the District, that won't happen next month. Instead, the eligibility determination will be made "off-line by experts" by early November. So who is going to benefit from this new system? Well, it turns out that the health insurance companies will greatly benefit.  Health insurance companies helped write Obamacare, and their stock prices have absolutely soared since Obamacare was signed into law.  If you doubt this, just check out the amazing charts in this article. Not that they were hurting under the old system either.  They have been raking in gigantic mountains of cash for years while trying to provide as little health care as possible.  For much more on this, please see my previous article entitled "50 Signs That The U.S. Health Care System Is A Gigantic Money Making Scam". For the rest of us, Obamacare is going to be even worse than the old system.  A 2013 Health Care Survey that polled 200 top health care professionals discovered the following about what they believe Obamacare will bring... -- 53 percent, “Quality of health insurance policies will suffer.” -- 51 percent, “Quality of care will go down.” -- 49 percent, “The law is overly complicated.” -- 42 percent, “Insurance exchanges will be poorly managed.” -- 37 percent, “The law still allows insurance companies to be the middleman.” -- 32 percent, “Too complex for businesses.” -- 19 percent, “Americans will die earlier.” So Americans are going to pay more, get worse care, have more paperwork and a more complicated system, and they are likely to die younger too? Wow, that sounds like a great deal. Where do we sign up?         

28 сентября 2013, 05:03

Thanks To Obamacare, Employer-Based Health Insurance Is Becoming An Endangered Species

Michael Snyder Activist Post Barack Obama promised to fundamentally transform America, and when it comes to health care he has definitely kept his promise.  Thanks to Obamacare, health care spending is up, health insurance premiums are up, the number of hours Americans are working is down and employer-based health insurance is becoming an endangered species.  Of course employer-based health insurance will not disappear completely any time soon, but it has been steadily shrinking for over a decade, and Obamacare will greatly accelerate that decline. If you go back to 1999, 64.1 percent of all Americans were covered by employment-based health insurance.  That was pretty good.  Today, only 54.9 percent of all Americans are covered by employment-based health insurance, and now thousands upon thousands of U.S. employers are considering reducing the scope of the health plans they offer to employees or eliminating them altogether due to Obamacare.  If you are thinking that this sounds like a potential nightmare for millions of Americans families, you would be exactly right. There have already been widespread reports of companies dropping health insurance, but nobody knows for sure how widespread the carnage will be.  According to Businessweek, the surveys that have been done up to this point have come up with widely varying results... A Deloitte study last year suggested 10 percent of employers would stop offering group health plans. A widely criticized McKinsey report from 2011 put the number as high as one-third. The Congressional Budget Office’s latest projections suggest 8 million fewer people will be covered by employer plans five years from now under the ACA than without it. Many of them will get policies through health insurance exchanges instead. google_ad_client = "pub-1897954795849722"; /* 468x60, created 6/30/10 */ google_ad_slot = "8230781418"; google_ad_width = 468; google_ad_height = 60;  But what everyone does agree on is that employer-based health coverage will continue to diminish. And we are already watching this happen right in front of our eyes.  Just this week, the Wall Street Journal reported that the largest security guard firm in the United States is dropping health coverage for 55,000 employees... The nation's largest provider of security guards plans to discontinue its lowest-cost health plans and steer roughly 55,000 workers to new government-sponsored insurance exchanges for coverage next year, in the latest sign of the fraying ties between employment and health care. The U.S. arm of Sweden's Securitas AB is among more than 1,200 employers that offer the kind of bare-bones health plans that must be phased out beginning Jan. 1 under the health-care law. Nearly four million people are enrolled in these so-called mini-med plans, which cap benefits to participants, sometimes at as little as $3,000 a year. "The mini-meds go away and we're not replacing them," said Jim McNulty, a spokesman for Securitas's U.S. operation. "Their option is to go to the exchanges." Other big employers, including Darden Restaurants Inc., Home Depot Inc. and Trader Joe's Co., say they will stop offering health insurance to part-time workers, and will direct those employees to the state exchanges. Darden, Home Depot and Trader Joe's previously offered mini-meds to their part timers.Speaking of Trader Joe's, I wrote about how they are eliminating health coverage for part-time workers the other day.  Instead of providing health insurance for their part-time workers, Trader Joe's will be writing them a check and pushing them on to the Obamacare exchanges... Trader Joe's, the grocer once lauded for providing health care coverage to its part-time workers, is about to push those employees off its plan. According to a memo obtained by the Huffington Post, the company will stop covering employees who work less than 30 hours per week. The change is set for the start of 2014. Instead of insurance, workers instead will get a check for $500 in January.  "Depending on income you may earn outside of Trader Joe's, we believe that with the $500 from Trader Joe's and the tax credits available under the [Affordable Care Act (ACA)], many of you should be able to obtain health care coverage at very little if any net cost to you," said Trader Joe CEO Dan Bane in the memo.And this is a huge reason why the shift from full-time work to part-time work in America has accelerated this year.  Obamacare creates an incentive for companies to have more part-time workers and less full-time workers.  In fact, almost all of the jobs that have been "created" by the U.S. economy in 2013 have been part-time jobs. But it is incredibly difficult to try to support a family on a part-time job.  Sadly, the quality of our jobs continues to decline rapidly and only 47 percent of all adults have a full-time job in America today.  This is only going to continue to get even worse under Obamacare. As a result of these trends, more Americans are going to be forced to go out and buy health insurance "on the individual market".  When they do, they are likely to be in for a really nasty surprise... Andy and Amy Mangione of Louisville, Ky. and their two boys are just the kind of people who should be helped by ObamaCare. But they recently got a nasty surprise in the mail. "When I saw the letter when I came home from work," Andy said, describing the large red wording on the envelope from his insurance carrier, "(it said) 'your action required, benefit changes, act now.' Of course I opened it immediately." It had stunning news. Insurance for the Mangiones and their two boys,which they bought on the individual market, was going to almost triple in 2014 --- from $333 a month to $965. The insurance carrier made it clear the increase was in order to be compliant with the new health care law.Are you ready to have your health insurance premiums potentially double or triple? In other cases, families are discovering that health insurance companies are simply cancelling their health insurance plans... Across the country, insurers are sending out ObamaCare-induced health plan death notices to untold tens of thousands of other customers in the individual market. Twitter users are posting their ObamaCare cancellation notices and accompanying rate increases: Linda Deright posted her letter from Regency of Washington state: "63 percent jump, old policy of 15 yrs. cancelled." Karen J. Dugan wrote: "Received same notice from Blue Shield CA for our small business. Driving into exchange and no info since online site is down." Chris Birk wrote: "Got notice from BCBS that my current health plan is not ACA compliant. New plan 2x as costly for worse coverage." Small-business owner Villi Wilson posted his letter from HMSA Blue Cross Blue Shield canceling his individual plan and added: "I thought Obama said if I like my health care plan I can keep my health care plan."In fact, this even happened to one member of Congress.  U.S. Representative Cory Gardner had purchased health insurance on his own because he wanted to experience what his constituents were going through, and he recently got a letter informing him that his old plan had been "discontinued"... "After my current plan is discontinued," he wrote last week, "the closest comparable plan through our current provider will cost over 100 percent more, going from roughly $650 a month to $1,480 per month." He now carries his ObamaCare cancellation notice with him as hardcore proof of the Democrats' ultimate deception.Is this what Obama was talking about when he promised that we could keep our old health insurance plans if we were happy with them? In the end, millions upon millions of us are going to get pushed on to the Obamacare health insurance exchanges. We were promised that there would be lots of competition and that prices would be reasonable. Unfortunately, in some areas of the country it turns out that the "exchanges" are turning out to be "monopolies" where consumers will only have one company to choose from... “Although seven insurance companies currently operate in North Carolina, under the new Obamacare exchanges, those options will dwindle down to one in the majority of counties,” Ellmers said Thursday following the disclosure of figures by federal health officials showing that more than 60 percent of North Carolina counties will have only one insurance provider option under Obamacare: Blue Cross Blue Shield. “The whole point of an online marketplace was to provide options, so North Carolinians could go online, compare prices, and choose plans from different companies. That is how competition is supposed to work!,” Ellmers said. Beginning October 1 under Obamacare, Blue Cross Blue Shield will be the only health insurance provider serving the entire state of North Carolina in the new Obamacare exchanges, serving all 100 of the state’s counties. Its competitor Coventry Health Care, which is owned by Aetna, will only reach 39 counties. That leaves 61 counties, or 61 percent of all the state’s counties, in a Blue Cross Blue Shield-only zone.Not only that, but a lot of these exchanges are not even going to be ready to function properly on October 1st.  For example, according to the Washington Post, the D.C. "health marketplace" is a complete and total mess at this point... Just days away from launch, the District of Columbia's health marketplace is announcing a pretty significant delay. While the D.C. Health Link will launch a Web site on October 1, shoppers will not have access to the their premium prices until mid-November. The delay comes after the District marketplace discovered "a high error rate" in calculating the tax credits that low- and middle-income people will use to purchase insurance on the marketplace. The insurance marketplaces, if working as plan, are supposed to spit out an estimate for a tax credit after a shopper enters in some basic information about where she lives and how much she earns. In the District, that won't happen next month. Instead, the eligibility determination will be made "off-line by experts" by early November.So who is going to benefit from this new system? Well, it turns out that the health insurance companies will greatly benefit.  Health insurance companies helped write Obamacare, and their stock prices have absolutely soared since Obamacare was signed into law.  If you doubt this, just check out the amazing charts in this article. Not that they were hurting under the old system either.  They have been raking in gigantic mountains of cash for years while trying to provide as little health care as possible.  For much more on this, please see my previous article entitled "50 Signs That The U.S. Health Care System Is A Gigantic Money Making Scam". For the rest of us, Obamacare is going to be even worse than the old system.  A 2013 Health Care Survey that polled 200 top health care professionals discovered the following about what they believe Obamacare will bring... -- 53 percent, “Quality of health insurance policies will suffer.” -- 51 percent, “Quality of care will go down.” -- 49 percent, “The law is overly complicated.” -- 42 percent, “Insurance exchanges will be poorly managed.” -- 37 percent, “The law still allows insurance companies to be the middleman.” -- 32 percent, “Too complex for businesses.” -- 19 percent, “Americans will die earlier.”So Americans are going to pay more, get worse care, have more paperwork and a more complicated system, and they are likely to die younger too? Wow, that sounds like a great deal. Where do we sign up? This article first appeared here at the Economic Collapse Blog.  Michael Snyder is a writer, speaker and activist who writes and edits his own blogs The American Dream and Economic Collapse Blog. Follow him on Twitter here. 

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17 сентября 2013, 16:15

WellPoint appoints two board members

WellPoint (WLP) adds two healthcare veterans to its board, Elizabeth Tallett and John Short. Tallet has over 35 years of biopharmaceutical and consumer-products experience, including as lead director at Coventry Health Care. Short is the former CEO of RehabCare Group, which was acquired by Kindred Health Care in 2011. (PR) Post your comment!

17 сентября 2013, 14:13

Daniel Pelka: call for debate on mandatory reporting of child abuse

Damning report on failings in four-year-old's death strengthens call for debate over obligation to pass on abuse concernsPressure is growing for a national debate on mandatory reporting of child abuse after a damning report exposed how teachers, health professionals, social workers and police officers failed Daniel Pelka, the four-year-old tortured, starved and beaten to death by his mother and stepfather.A serious case review published on Tuesday said the boy appeared to be invisible to the many professionals who had contact with him but did not step in. The review team could find no record of any conversation with Daniel about his home life, his feelings or his relationships with his mother and her male partners.The report found that a vast number of professionals had contact with Daniel and his family but nobody put together the full picture of the abuse the boy was suffering at home in Coventry, where he was kept locked in a filthy box-room, denied food and subjected to physical torture.All the agencies involved have accepted they should have done better and have explained measures they are taking to try to stop another youngster slipping through the net.The Coventry Safeguarding Children Board, which commissioned and published the serious case review, said it would monitor the agencies involved in Daniel's case to ensure they were taking note of recommendations.Amy Weir, the chair of the board, said she believed there should be a debate on the pros and cons of mandatory reporting under which those responsible for the care of children should be obliged to pass on concerns about abuse to the police or other authorities.David Simmonds, chair of the Local Government Association's children and young people board, backed the call for a debate. "Today's report lays down a challenge to social services, the police, schools, health professionals and the wider community to review, and where necessary improve, the way we identify and deal with the heinous crimes of neglect and abuse," he said.Mandatory reporting might be one element of driving change, Simmonds said, but he added: "We have to be sure that any reform does not have unintended consequences, such as overloading the system with cases where the child is clearly not in danger of abuse or neglect. We must avoid creating a situation where the social care system is swamped with unnecessary referrals because professionals lack the courage or confidence to take responsibility, exercise their judgment and act appropriately."Paula Barrow, a mother of two from Manchester who is heading a petition for mandatory reporting and has collected 53,000 signatures in support, said: "Child abuse is a crime, yet reporting it in the UK is discretionary. We urgently need new legislation which requires the mandatory reporting of child abuse in regulated activities, to help better protect vulnerable children like Daniel Pelka."Peter Garsden, president of the Association of Child Abuse Lawyers and adviser to the campaign group Innocence in Danger, said: "The introduction of legislation would remove many of the confusing and often conflicting considerations that staff presently have to make before they say anything to anyone about concerns they may hold."Innocence in Danger is a member of the Mandate Now Coalition. Fay Maxted, the chief executive of another of the coalition members, The Survivors Trust, said: "Spotting the signs of child abuse can be challenging, and all too often reports that should be made are not because of misplaced loyalty to the institution or friendship with the alleged perpetrator. If law is introduced, staff will have no doubt what to do, and they would have legal protection from recrimination which presently can follow when a member of staff takes the conscientious step of reporting." The coalition says mandatory reporting works well in many countries, including the US.Daniel's mother, Magdelena Luczak, 27, and her partner, Mariusz Krezolek, 34, both Polish nationals, will serve at least 30 years in prison for Daniel's murder. During a harrowing trial the jury heard that Daniel looked like a concentration camp victim when he died in March 2012. The court was told that he was subjected to torture, including having his head held under water until he passed out and being force-fed salt. He was systematically denied food before dying after receiving a blow to his head.The report said Daniel's "traumatic abusive experiences" during the last six months of his life were shocking. "He must have felt utterly alone and worthless for much of that time, being the subject of his mother and stepfather's anger and rejection. At times he was treated as inhuman, and the level of helplessness he must have felt in such a terrifying environment would have been overwhelming. The extent of his abuse, however, went undiscovered and unknown to professionals at the time."The review team accused Daniel's school of having a dysfunctional approach to children's safeguarding issues, highlighting that teachers had noticed injuries to his face and had locked away pupils' lunch boxes to stop him stealing food, but had not taken effective action to help him.Health professionals and social workers had been too quick to accept that injuries needing hospital treatment, including a broken arm and a cut over the eye, were the result of accidents – though it also said they were under pressure because of high workloads and understaffing. The report criticised a community paediatrician who saw Daniel a month before he was murdered for putting his weight loss down to worms rather than possible abuse.It emerged in the report that police attended Daniel's "chaotic" household almost 30 times in response to reports of domestic abuse in the six years before his death and it suggested officers could have done more to make sure he was being treated well. "In many respects the response by the police was not child-centred," the report said.Apologising for its failings, Coventry city council's chief executive, Martin Reeves, said: "All organisations in Coventry involved in Daniel's short life now have to face up to their responsibilities and the part they played in the missed opportunities that could have protected Daniel. We are sorry we did not do enough to protect Daniel."The report makes clear that the sharing of information and communications between all agencies was not robust enough and no one fitted together the jigsaw of what was really happening to Daniel."Reeves said the council had already improved working practices and training for its social workers and staff in schools.Assistant Chief Constable Garry Forsyth, of West Midlands police, said the force had improved its safeguarding children processes and information-sharing with partner agencies and accepted there needed to be "a more holistic approach when dealing with multiple incidents involving domestic abuse, in particular where children reside".Dr Sharon Binyon, medical director at the Coventry and Warwickshire Partnership NHS Trust, said training had been reviewed and new systems were in place.The children and families minister Edward Timpson has written to the safeguarding board asking for further analysis of why the failures happened."The fact that, according to the report, there is no record of any conversation held with him by any professional about his home life, his experiences outside of school, his wishes and feelings, and of his relationships with his mother and her male partners speaks volumes," Timpson said.Child protectionChildrenSocial carePoliceHealthTeachingSteven Morris theguardian.com © 2013 Guardian News and Media Limited or its affiliated companies. 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30 июля 2013, 15:23

США: компания Aetna отчиталась о росте квартальной прибыли

Американская страховая компания Aetna отчиталась о росте квартальной прибыли в связи с приобретением фирмы Coventry Health Care и низкими расходами на медицинское обслуживание. Так, чистая прибыль компании повысилась до $536 млн или $1,49 на акцию в сравнении с $457,6 млн или $1,32 на акцию годом ранее. Прибыль за вычетом некоторых статей составила $1,52, в то время как аналитиками в среднем прогнозировалось $1,41 на акцию. Выручка за рассматриваемый период увеличилась с $8,8 млрд до $11,5 млрд. Стоит отметить, что компания прогнозирует годовую операционную прибыль в диапазоне от $5,8 до $5,9 на акцию, при этом аналитики ожидают $5,82 на акцию.

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30 июля 2013, 15:19

Net profit +17% to $536M, boosted by the closure of Aetna's (AET) $6.9B acquisition of Coventry Health Care in May. Medical membership +21% to nearly 22M people, including 3.7M from Coventry Books $101.3M in charges related to the Coventry deal. Now expects 2013 adjusted EPS of $5.80-5.90 per share, up from previous guidance of $5.70-5.85 and vs consensus of $5.80. (PR)

Net profit +17% to $536M, boosted by the closure of Aetna's (AET) $6.9B acquisition of Coventry Health Care in May. Medical membership +21% to nearly 22M people, including 3.7M from Coventry Books $101.3M in charges related to the Coventry deal. Now expects 2013 adjusted EPS of $5.80-5.90 per share, up from previous guidance of $5.70-5.85 and vs consensus of $5.80. (PR) Post your comment!

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01 мая 2013, 16:37

Coventry Health Care Earnings: Everything You Must Know Now

Here's your Cheat Sheet to earnings...

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01 мая 2013, 14:31

Coventry Health Care (CVH): Q1 EPS of $1.00 beats by $0.19. Revenue of $3.5B misses by $0.19B. (PR)

Coventry Health Care (CVH): Q1 EPS of $1.00 beats by $0.19. Revenue of $3.5B misses by $0.19B. (PR) Post your comment!

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30 апреля 2013, 14:39

США: компания Aetna зафиксировала снижение квартальной прибыли

Американская страховая компания Aetna зафиксировала снижение квартальной прибыли ввиду расходов, связанных с приобретением фирмы Coventry Health Care. Так, в первом квартале чистая прибыль составила $490,1 млн или $1,48 на акцию по сравнению с $511 млн или $1,43 на акцию годом ранее, аналитики в среднем ожидали $1,39 на одну бумагу. Выручка в рассматриваемом периоде оказалась на уровне $9,54 млрд при средних прогнозах аналитиков на уровне $9,64 млрд. Aetna ожидает, что в 2013 г. операционная прибыль окажется в диапазоне от $5,50 до $5,60 на акцию, аналитики в среднем прогнозируют $5,53 на одну бумагу.

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24 апреля 2013, 21:53

Coventry Raised to Outperform - Analyst Blog

On Apr 23, 2013, we upgraded Coventry Health Care Inc. to Outperform based on strong fundamentals.

10 апреля 2013, 15:35

Health Gamification Start-Up WellTok Scores Big By Retaining Health IT Veteran Jeff Margolis As CEO

 Companies that combine games, incentives and social networks to motivate people into adopting healthier lifestyles are proliferating, as employers search for ways to reduce their health care costs. It’s anyone’s guess which ones will succeed, or whether they will be able to point to significant improvements in the long term. One thing is certain: a seasoned chief executive helps. WellTok which competes with Audax Health, OneHealth, and Virgin HealthMiles has appointed Jeff Margolis, who founded health IT company TriZetto in 1997. In 2004, Apax Partners took it private at a $1.4 billion valuation. With Margolis at the helm, WellTok raised $18.7 million in a series B round led by InterWest Partners and Emergence Capital Partners. New Enterprise Associates is also an investor. In an interview last year, Margolis spoke about health IT and what got him interested in WellTok, which caught his eye before he left TriZetto at the end of 2011. Here are excerpts: “Over the years, I would look at 75 to 100 companies every year, start-ups trying to penetrate some health IT space. You start to become selective on who’s unique. Breakout ideas are rare in health IT, to go beyond $20 million in revenues. The plateau level is $10 million to $20 million; you need to have a recurring revenue stream to insure growth.” “One of the founders [of WellTok] is a former TriZetto employee [Jeff Cohen] who was in innovative product development…I knew this person. Technologists are a dime a dozen, but those who can apply technology to solve [health care] problems are priceless. You have to understand the industry well. You have to scale up. Breakouts are rare because you need to apply technology and integrate in the [health care] industry in a way that works…What makes us [WellTok] different is we have a background running 130 million members [at TriZetto]; we ran health care enrollments on TriZetto software.” TriZetto took a minority stake in WellTok. Margolis invested as well, became chairman, and brought in Miramar Venture Partners and Okapi Venture Capital. He did not disclose the amount. WellTok officially launched its social health network platform CaféWell in late 2011. At the time, Margolis said the start-up had almost $2 million in revenues from health plans such as Coventry Health Care’s HealthAmerica that are trying to attract and retain members. It now has nine customers, and nearly 10 million participants use its platform. “We have proof on how to increase engagement for health plans, not hope… We can translate points and badges into a metric that health plans can take into renewal,” said Margolis. It will be interesting to see how he fares in the gnarly world of behavior modification.