Insurers

Rebates shrink as Anthem gets better at pricing

August 18, 2014
J.K. Wall
Hoosiers are receiving $11.9 million in rebates this year from health insurers that used less than 80 percent of their 2013 premiums for medical bills last year. That’s down from $22.6 million handed out last year.
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WellPoint to change corporate name back to Anthem

August 12, 2014
 Bloomberg News and IBJ Staff, Associated Press
The name change will be completed by the end of the year, pending shareholder approval, the company said Tuesday.
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Baldwin & Lyons' profit surges on big investment gains

August 7, 2014
 IBJ Staff
Of the insurer's $9.3 million in profit in the second quarter, only $4.1 million was attributed to its core operations.
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WellPoint unit launching $80M information exchange

August 6, 2014
Associated Press
Two insurers announced Tuesday that they are partnering for an ambitious project to establish one of the nation's largest health-information exchanges, an effort they hope will reduce duplication and improve patient outcomes.
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Connecticut nixes rate increase by WellPoint subsidiary

July 29, 2014
Associated Press
Anthem told regulators that the 12.5-percent rate increase was needed because of higher costs for medical services, pharmaceuticals and fees levied by the federal government as part of the Affordable Care Act.
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CNO sees higher earnings, revenue in latest quarter

July 28, 2014
 IBJ Staff
CNO Financial Group Inc. earned $78.1 million compared with profit of $77.1 million in the same period of 2013.
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Feds scrutinize Indiana for Medicaid backlog

July 24, 2014
J.K. Wall
More than 80,000 Hoosiers had their applications for the Medicaid health benefits stuck in a backlog in May, prompting the federal government to launch a special review next week.
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Mouse clicks replace stethoscopes as U.S. web care grows

July 14, 2014
Bloomberg News
To cut medical costs and diagnose minor ailments, WellPoint Inc. and Aetna Inc., among other health insurers, are letting millions of patients get seen online first.
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WellPoint CEO: Insurer preparing for technology wave

July 10, 2014
Associated Press
In a wide-ranging interview, WellPoint Inc. CEO Joseph Swedish says adapting to technology is a top priority as he leads the nation's second largest health insurer.
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Obamacare generates windfall for insurersRestricted Content

July 5, 2014
J.K. Wall
Obamacare’s tax credits are pumping nearly $400 million into the coffers of health insurers in Indiana this year, according to data released by the federal government and the insurance companies.
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CNO upgraded by S&P after divesting insurance unit

July 2, 2014
 Bloomberg News and IBJ Staff
CNO Financial Group Inc. was upgraded by Standard & Poor’s after the Carmel-based company completed the sale of a life insurance unit that was no longer issuing policies.
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OneAmerica acquires California retirement business

June 25, 2014
Kathleen McLaughlin
OneAmerica Financial Partners Inc. announced Wednesday that it will acquire a San Diego-based retirement business, gaining access to another large market.
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Cost-control plan for health care could cost more patients

May 16, 2014
Associated Press
The Obama administration has given the go-ahead for a new cost-control strategy called "reference pricing." It lets insurers and employers put a dollar limit on what health plans pay for some expensive procedures.
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Insurers say most Obamacare enrollees paying premiums

May 6, 2014
Bloomberg News
Three large health insurers including Indianapolis-based WellPoint Inc. and Aetna Inc. say that a high percentage of their new Obamacare customers are paying their first premiums, partly undermining a Republican criticism of enrollment in the program.
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CNO takes big earnings hit to dispose of old business

April 28, 2014
 IBJ Staff
Excluding the cost of finally shedding a block of business from predecessor Conseco Inc., CNO's operations were on the upswing in the first quarter.
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Late sign-ups boost numbers, improve Obamacare outlook

April 18, 2014
Associated Press
Still to be announced is what share of those 8 million enrollees were previously uninsured, and how many actually secured coverage by paying their first month's premiums.
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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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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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Obamacare shuffles market share in some states, report finds

March 18, 2014
Bloomberg News
A snapshot of Obamacare enrollment in seven states suggests the law hasn't significantly increased competition, but it has shuffled market share for some insurers, including Indianapolis-based WellPoint Inc.
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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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  1. The $104K to CRC would go toward debts service on $486M of existing debt they already have from other things outside this project. Keystone buys the bonds for 3.8M from CRC, and CRC in turn pays for the parking and site work, and some time later CRC buys them back (with interest) from the projected annual property tax revenue from the entire TIF district (est. $415K / yr. from just this property, plus more from all the other property in the TIF district), which in theory would be about a 10-year term, give-or-take. CRC is basically betting on the future, that property values will increase, driving up the tax revenue to the limit of the annual increase cap on commercial property (I think that's 3%). It should be noted that Keystone can't print money (unlike the Federal Treasury) so commercial property tax can only come from consumers, in this case the apartment renters and consumers of the goods and services offered by the ground floor retailers, and employees in the form of lower non-mandatory compensation items, such as bonuses, benefits, 401K match, etc.

  2. $3B would hurt Lilly's bottom line if there were no insurance or Indemnity Agreement, but there is no way that large an award will be upheld on appeal. What's surprising is that the trial judge refused to reduce it. She must have thought there was evidence of a flagrant, unconscionable coverup and wanted to send a message.

  3. As a self-employed individual, I always saw outrageous price increases every year in a health insurance plan with preexisting condition costs -- something most employed groups never had to worry about. With spouse, I saw ALL Indiana "free market answer" plans' premiums raise 25%-45% each year.

  4. It's not who you chose to build it's how they build it. Architects and engineers decide how and what to use to build. builders just do the work. Architects & engineers still think the tarp over the escalators out at airport will hold for third time when it snows, ice storms.

  5. http://www.abcactionnews.com/news/duke-energy-customers-angry-about-money-for-nothing

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