Insurance

Health insurance stocks flop after Obama wins second term

November 8, 2012
Associated Press
Health insurance stocks sank deeper than the broader market Wednesday after President Barack Obama's re-election helped clarify the future of his health care overhaul, a sweeping law that some investors fear will pinch profits.
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Deal provides peek at Anthem's narrow networks

November 5, 2012
J.K. Wall
A new agreement in Wisconsin provides a glimpse of the kind of “narrow network” arrangements that Indianapolis-based Anthem Blue Cross and Blue Shield might attempt in Indiana.
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Baldwin & Lyons profits rise on fewer storm losses

November 1, 2012
Indianapolis-based Baldwin & Lyons Inc. continues to improve on its 2011 results, recording after-tax profit of $11.7 million, or 78 cents a share, for the third quarter.
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CNO Financial earnings fall on recapitalization charge

October 29, 2012
 IBJ Staff
Carmel-based CNO Financial Group on Monday reported a third-quarter loss of $5 million compared to a $179.5 million profit in the third quarter of 2011.
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Judge approves $90 million for Anthem plaintiffs

October 29, 2012
Kathleen McLaughlin
The settlement will go to 700,000 claimants in Indiana, Ohio, Kentucky and Connecticut, who said Anthem underpaid them when it converted in 2001 from policyholder ownership into publicly traded company WellPoint Inc.
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Amerigroup shareholders approve $4.9B sale to WellPoint

October 24, 2012
J.K. Wall
Shareholders of Amerigroup Corp. overwhelming approved the Virginia company’s sale for $4.9 billion to Indianapolis-based health insurer WellPoint Inc. in a vote on Tuesday. The vote clears the way for the acquisition to close before the end of the year.
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WellPoint reorganizes into four business units

October 11, 2012
Bloomberg News
Separate Medicare and Medicaid divisions each will sell plans for those government-backed insurance programs. Another will handle commercial and individual business, and a specialty unit will provide dental, vision and disability coverage.
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Longtime insurance agency acquired by local rivalRestricted Content

October 6, 2012
Property-casualty and employee benefits firm MJ Insurance buys Mead & Co., which dates to the 1860s.
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Wellpoint raises $1.35B in first convertible offering since '99

October 3, 2012
Indianapolis-based WellPoint Inc. sold its first convertible securities in more than 13 years with a $1.35 billion offering of 30-year bonds.
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Amerigroup delays vote on $4.9B WellPoint acquisition

October 3, 2012
Bloomberg News
Amerigroup Corp. officials agreed to delay a shareholder vote on WellPoint Inc.’s $4.9 billion buyout offer to resolve investors’ claims they were being shortchanged in the deal, the company said in a securities filing.
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WellPoint to add 100-plus local jobs for new Medicare contract

October 2, 2012
J.K. Wall
WellPoint Inc.’s National Government Services unit will add more than 100 jobs in Indianapolis beginning late this year or early next after the health insurance giant won a new contract with the federal Medicare program.
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Some hospitals, doctors might be cut from health plansRestricted Content

September 29, 2012
J.K. Wall
With health insurance premiums continuing to outstrip inflation, some health insurers and hospital systems are considering bringing back an old strategy: limiting patient access to a “narrow” network of doctors and hospitals.
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WellPoint hires Chicago-based search firm to find CEO

September 25, 2012
Bloomberg News
Chicago-based recruiting firm Spencer Stuart & Associates Ltd. has previously led executive and board director hunts for companies including Facebook Inc., Comcast Corp., Talbots Inc. and Hewlett-Packard Co.
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OneAmerica unit using hybrid policies to grow long-term-care salesRestricted Content

September 22, 2012
Chris O'Malley
Using banks as a sales channel also boosts business in what has been a languishing product segment.
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WellPoint says CEO search to take three to six months

September 20, 2012
Bloomberg News
WellPoint is seeking a replacement for former CEO Angela Braly, who stepped down Aug. 28 amid shareholder discontent. The company plans to hire a search firm within the next week.
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High-deductible premiums rising, too

September 17, 2012
J.K. Wall
Since 2007, premiums for high-deductible health plans’ family coverage have grown 32 percent—compared with 30 percent among all health plans, according to survey data from the Kaiser Family Foundation.
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Crop insurance losses begin to mount amid drought

September 13, 2012
Associated Press
Thousands of farmers are filing insurance claims this year after drought and triple-digit temperatures burned up crops across the nation's Corn Belt, and some experts are predicting record insurance losses — exacerbated by changes that reduced some growers' premiums.
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Average premiums for employee health plans rise 4 percent

September 11, 2012
Associated Press
Annual premiums for job-based family health insurance went up just 4 percent on average this year, but that's no comfort with the price tag approaching $16,000 and rising more than twice as fast as wages.
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WellPoint management team gets board support, CFO says

September 10, 2012
Bloomberg News
Almost two weeks after Angela Braly was forced out as WellPoint Inc. CEO, the management team she put in place has been told by the board it will stay, said Chief Financial Officer Wayne Deveydt.
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Bloomington docs still feuding with Anthem

September 10, 2012
J.K. Wall
A large physician practice in Bloomington remains at an impasse with Anthem Blue Cross and Blue Shield of Indiana less than two months before their contract is set to expire.
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'Knock on Wood' campaign boosts Farm Bureau brandRestricted Content

September 8, 2012
Chris O'Malley
The torrent of competitors' humorous TV commercials forced Indiana Farm Bureau Insurance to roll out its own campaign. So far, its “Knock on Wood” shtick is said to have boosted brand awareness in urban markets by 12 percent, as measured by social media chatter.
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CNO stock hits 4-year high on recapitalization strategy

September 5, 2012
Bloomberg News
Carmel-based insurer CNO Financial Group Inc. said Tuesday that it is seeking $950 million of loans and bonds to repay debt and reduce borrowing costs.
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WellPoint plans debt offerings to fund Amerigroup acquisition

September 5, 2012
Bloomberg News
Indianapolis-based WellPoint Inc., the second-biggest U.S. health insurer, is planning a four-part debt offering to help fund its $4.9 billion acquisition of Amerigroup Corp, the insurer said Wednesday.
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Departing CEO Braly due to get $15M exit package

August 29, 2012
J.K. Wall
WellPoint Inc. is expected to give about $15 million in cash, stock and benefits to former CEO Angela Braly on her way out the door, based on the terms of a separation agreement filed by the company Wednesday morning. And the payout could be even more lucrative based on the company's future stock price.
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WellPoint launches search for new CEO after Braly resignation

August 29, 2012
 IBJ Staff and Bloomberg News
Investors are looking for a CEO who can right the Indianapolis-based company’s financial performance and integrate WellPoint’s recent deals to buy Medicaid insurer Amerigroup Corp. and vision company 1-800-Contacts Inc.
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  1. These liberals are out of control. They want to drive our economy into the ground and double and triple our electric bills. Sierra Club, stay out of Indy!

  2. These activist liberal judges have gotten out of control. Thankfully we have a sensible supreme court that overturns their absurd rulings!

  3. Maybe they shouldn't be throwing money at the IRL or whatever they call it now. Probably should save that money for actual operations.

  4. For you central Indiana folks that don't know what a good pizza is, Aurelio's will take care of that. There are some good pizza places in central Indiana but nothing like this!!!

  5. I am troubled with this whole string of comments as I am not sure anyone pointed out that many of the "high paying" positions have been eliminated identified by asterisks as of fiscal year 2012. That indicates to me that the hospitals are making responsible yet difficult decisions and eliminating heavy paying positions. To make this more problematic, we have created a society of "entitlement" where individuals believe they should receive free services at no cost to them. I have yet to get a house repair done at no cost nor have I taken my car that is out of warranty for repair for free repair expecting the government to pay for it even though it is the second largest investment one makes in their life besides purchasing a home. Yet, we continue to hear verbal and aggressive abuse from the consumer who expects free services and have to reward them as a result of HCAHPS surveys which we have no influence over as it is 3rd party required by CMS. Peel the onion and get to the root of the problem...you will find that society has created the problem and our current political landscape and not the people who were fortunate to lead healthcare in the right direction before becoming distorted. As a side note, I had a friend sit in an ED in Canada for nearly two days prior to being evaluated and then finally...3 months later got a CT of the head. You pay for what you get...

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