Health Care & Insurance

WellPoint to adhere to new rescission rules early

April 27, 2010
J.K. Wall
The Indianapolis-based health insurer announced Tuesday afternoon it will be the first company to adopt stricter standards on canceling policies, which are contained in the health reform bill passed in March.
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Medicare Advantage may survive cuts under health reform

April 26, 2010
 IBJ Staff and Bloomberg News
The two largest U.S. health insurance companies, UnitedHealth, based in Minnetonka, Minn., and WellPoint Inc., based in Indianapolis, sell Advantage plans.
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Clarian hospital system regains its appetite to buildRestricted Content

April 24, 2010
J.K. Wall
Clarian is planning to spend $1.7 billion in the next five years on capital projects, half of that going to its downtown Indianapolis campuses.
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New helicopters coming for Indiana medical flights

April 23, 2010
Associated Press
Clarian Health officials on Thursday plan to buy four helicopters as it replaces aircraft in its aging patient-transport fleet.
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Democrats want government approval of health premiums

April 20, 2010
Bloomberg News
Insurers like WellPoint Inc. should be required to get U.S. approval to increase premiums, Sens. Diane Feinstein and Tom Harkin say.
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Struggling firms stash away losses to cut future taxesRestricted Content

April 17, 2010
Peter Schnitzler
Conseco expects its write-offs will be worth more than $800 million over the next 20 years.
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Tomisue Hilbert investigates mother's death, $15M insurance policy

April 17, 2010
Peter Schnitzler
The wife of Indianapolis businessman Steve Hilbert is working with a team of attorneys to determine whether her deceased mother’s estate can claim the benefit of a life insurance policy issued by Houston-based American General Life Insurance Co.
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Rockefeller: Insurers don't spend enough on medical care

April 15, 2010
Bloomberg News
Indianapolis-based WellPoint “reclassified” more than half a billion dollars of administrative expenses as medical expenses when it was defining its medical-loss ratio, according to a report released by U.S. Senator Jay Rockefeller’s office.
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Employers want cake, and to eat it, too

April 13, 2010
J.K. Wall
Employers are still trying to get their arms around what the new health insurance law will mean for them. But on the eve of the law's passage last month, a survey by Indianapolis-based United Benefit Advisors LLC showed employers as a group had no hope the law would reduce their costs but also no coherent plan for reforming the current system.
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WellPoint, UnitedHealth, grapple with medical-cost mandate

April 13, 2010
Bloomberg News
A U.S. mandate forcing insurers led by UnitedHealth Group Inc. and WellPoint Inc. to spend 85 percent of revenue from premiums on medical care is the newest front in the battle between the Obama administration and companies over industry profits.
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Purdue secures $15M to expand cancer research building

April 12, 2010
J.K. Wall
Stimulus dollars from the National Institutes of Health expected to spark 30 to 40 new research jobs by 2013.
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Hilbert in-law's insurance fraud trial set for October

April 12, 2010
Peter Schnitzler
As IBJ reported last year, Houston-based American General Life Insurance Company is attempting to invalidate a $15 million policy it issued in January 2006 insuring the life of Germaine “Suzy” Tomlinson—Conseco Inc. co-founder Stephen Hilbert’s mother-in-law—who died Sept. 28, 2008, at age 74.
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Lilly sets date for move from Faris campus downtown

April 12, 2010
Work force reductions, new business structure make leased office space unnecessary. Moves will begin in late June.
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Lilly diabetes drug may have cancer risk, FDA says

April 9, 2010
 IBJ Staff and Bloomberg News
Once-weekly form of Byetta is awaiting the FDA's OK. Analyst predict the new version of the drug, if approved, could rack up sales of $2 billion annually.
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Louisiana gets $20M in Lilly drug settlement

April 7, 2010
Associated Press
Louisiana was one of 13 states that filed individual suits in state courts over allegations that Lilly pushed Zyprexa for uses that had not been approved by federal regulators.
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Hospitals stand to gain big by hiring docs

April 7, 2010
To understand why hospitals are so eager to employ physicians—and prevent them from owning their own facilities—look no further than the latest data on how much doctors are paid compared with how much revenue they generate for hospitals.
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Members: Anthem health plans subpar

April 7, 2010
J.K. Wall
Anthem Blue Cross and Blue Shield of Indiana fell slightly below average for customer satisfaction among scores of health plans, according to a new survey by California-based J.D. Power & Associates.
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Medical oxygen plant in Plainfield closing; 130 to lose jobs

April 6, 2010
Relocating operations to an existing plant in Canton, Ga., will result in the loss of 130 jobs.
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Shareholder group wants WellPoint to become not-for-profit

April 6, 2010
J.K. Wall
Proposal at annual meeting will ask health insurer to study feasibility of converting to not-for-profit status.
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Volunteers in Medicine fill need as boomers retire

April 3, 2010
Marc D. Allan
Not-for-profit sees increasing numbers of patients, but can't plug the entire gap to be created by health care retirements.
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Compensation for WellPoint's Braly rises 51 percent

April 2, 2010
Associated Press
Stock options, bonus fuels CEO's pay.
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Conseco trims CEO's pay but gives exec team raises

April 2, 2010
Peter Schnitzler
James Prieur's total compensation fell 5 percent last year to $3.3 million, but other Conseco executives saw pay hikes between 25 percent and 54 percent.
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Lilly wins court ban on generic copy of Gemzar

April 1, 2010
Bloomberg News, Associated Press
Eli Lilly and Co. won a U.S. court ruling Wednesday that bars Teva Pharmaceutical Industries Ltd. from selling a generic version of the cancer drug Gemzar until November.
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Lilly drug wins U.K. backing as cancer therapy

April 1, 2010
Bloomberg News
Eli Lilly and Co.'s Alimta has received the preliminary backing of a United Kingdom agency as a maintenance treatment for patients with the most common form of lung cancer.
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Conseco cuts 20 jobs at Carmel headquarters

March 31, 2010
J.K. Wall
Conseco Inc. moved some of its customer-service work to India, prompting the local job reductions.
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