Insurance

Indiana insurers must make best guesses on 2015 price hikes

April 10, 2014
J.K. Wall
Health insurers such as WellPoint Inc. that plan to hike prices on their Obamacare policies more than 10 percent in 2015 will have a much harder time than usual making their case to regulators.
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WellPoint spending millions in California ballot battle

April 9, 2014
Bloomberg News
WellPoint Inc. is leading companies that have poured $13.4 million into defeating a ballot initiative that would give California regulators the power to reject increases in health policy premiums.
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UPDATE: Nine at dental practice charged in fraud probe

April 2, 2014
Associated Press
Prosecutors have charged the owner of an Anderson dental practice and eight of her employees in connection with a Medicaid fraud investigation.
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Big health care insurers bulk up executive pay

April 2, 2014
Associated Press
WellPoint CEO Joe Swedish wasn't the only health insurance exec making big bucks last year. Aetna Inc. Chairman and CEO Mark T. Bertolini saw his total compensation more than double, to top $30 million.
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WellPoint CEO lands nearly $17M in first year

April 2, 2014
J.K. Wall
Compensation for Joe Swedish included $4.1 million in perks, such as $3.8 million he would have received in his previous job, $79,000 in relocation expenses, and $82,000 for his legal fees from contract negotiations.
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CNO Financial casts out former Conseco demonsRestricted Content

March 29, 2014
Chris O'Malley
It was an exorcism of CNO’s legacy Conseco business recently that’s really put the proverbial color back in the faces of management and investors.
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WellPoint sees double-digit rate rise for Obamacare in 2015

March 25, 2014
Bloomberg News
Two months before health insurers must submit rate proposals for 2015 to government regulators, WellPoint Inc. fired a surprising shot across their bow.
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WellPoint shares top $100 on bullish 5-year forecast

March 24, 2014
J.K. Wall
The health insurer predicted growth in government-funded health insurance programs would push revenue above $100 billion by 2018. That prompted investors to push WellPoint stock above $100 per share—an all-time high for the company.
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Indiana braces for flood insurance subsidy changes

March 24, 2014
Associated Press
Thousands of Indiana homeowners who live in flood-prone neighborhoods are bracing for insurance premium increases, despite Congress' latest fix for the government's debt-saddled flood insurance program.
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Anthem, Franciscan sign accountable care contract

March 15, 2014
J.K. Wall
Anthem Blue Cross and Blue Shield has signed a new kind of contract with the Franciscan Alliance hospital system that allows Franciscan to make more money only if it saves money for Anthem.
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WellPoint getting unexpected competition from co-ops

March 13, 2014
Bloomberg News
Obamacare opponents predicted early on that insurance co-ops created by the law would fail, but several are doing well by combining low premiums with a certain homespun appeal.
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Companies, including WellPoint, use buybacks to boost stock

March 11, 2014
Associated Press analysis
Companies have been spending big on buybacks since the 1990s. What's new is the way buybacks have exaggerated the health of many companies.
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Insurers’ Obamacare losses may reach $5.5 billion, U.S. says

March 5, 2014
Bloomberg News
Health insurers such as Indianapolis-based WellPoint Inc. and Louisville-based Humana Inc. stand to receive $5.5 billion next year to cover losses from Obamacare in a program the law’s opponents label a bailout.
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WellPoint dismisses former interim-CEO Cannon

February 21, 2014
J.K. Wall
John Cannon, the man credited with righting the ship at WellPoint Inc., was terminated without cause this week, the company disclosed in a securities filing Friday morning.
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Homeowners in flood zones fear insurance spike

February 20, 2014
Associated Press
Steep increases are being felt from south Louisiana to New England to Columbus, Ind., are required by the Biggert-Waters Reform Act of 2012. That legislation, signed by President Obama two years ago, set into motion a process designed to start shaving down the flood insurance system's mounting deficit.
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Consumers shun cheapest Obamacare exchange plans

February 20, 2014
Bloomberg News
Most Americans are avoiding the lowest-priced health plans on the Obamacare insurance exchanges, taking advantage of government subsidies to seek more protection against high treatment costs.
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Incoming OneAmerica chief has big goals for growthRestricted Content

February 15, 2014
Chris O'Malley
As Scott Davison steps into the shoes of OneAmerica’s retiring CEO Dayton Molendorp, who led a massive expansion of the company in recent years, he’ll be challenged to keep growing pains at a minimum.
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CNO sees higher profit, revenue in fourth quarter

February 11, 2014
 IBJ Staff
The Carmel-based insurance company reported profit of $106 million, up from $101.2 million in the same quarter of 2012.
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IU Health, UnitedHealthcare reach end to contract dispute

February 6, 2014
J.K. Wall
The new two-year agreement gives UnitedHealthcare discounted rates retroactive to Jan. 1. Such discounts, which insurers negotiate with hospital systems, reduce prices 30 percent or more.
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Indianapolis businessman indicted for health care fraud

January 29, 2014
J.K. Wall
Ronald Reed, the owner of Benchmark Mobility Corp., allegedly billed the Medicaid and Medicare programs for used wheelchairs, scooters and lift chairs as if they were brand new, obtaining nearly $443,000 in fraudulent sales.
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Panel delays vote on bill to require prescription for cold meds

January 27, 2014
Ryanne Wise, The Statehouse File
A committee heard two hours of testimony Monday on a bill that would make medicine containing pseudoephedrine a schedule III drug. The committee did not vote.
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Molendorp retiring as OneAmerica's CEO

January 20, 2014
J. Scott Davison, who was named president of OneAmerica in August, will become president and CEO on April 1.
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Many small firms to opt out of health benefits in 2015

January 18, 2014
J.K. Wall
Many employers with fewer than 50 workers kept their health plans for 2014, but a growing number say they’ll drop group coverage at the end of this year.
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Obamacare small-biz plan lags as employers stand pat

January 17, 2014
Bloomberg News
Greeted by higher premiums, less generous coverage and more paperwork, small businesses are choosing to renew existing health plans rather than buy them through President Barack Obama’s program.
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WellPoint raises its 2013 profit forecast

January 14, 2014
The new forecast roughly matches what Wall Street analysts were already expecting. WellPoint will reveal its actual 2013 financial results on Jan. 29.
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