Insurers

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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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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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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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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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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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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Group led by WellPoint to partner on global health network

January 9, 2014
Bloomberg News
The Blue Cross and Blue Shield Association will form a combined provider network with London-based Bupa that will collectively include more than 11,500 hospitals in more than 190 countries, the partners said Thursday.
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Lawmakers consider state-assisted retirement plan

January 8, 2014
Amanda Creech, The Statehouse File
Senate Bill 66 creates a state-assisted savings plan for retirement. The bill is opposed by the Association of Indiana Life Insurance Companies.
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WellPoint seeks more Obamacare biz by extending deadline

January 8, 2014
Bloomberg News
Two of the largest U.S. health insurers are giving Obamacare customers more time to pay their initial premiums as the industry tries to coax millions of people to take the final step in cementing coverage for 2014.
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WellPoint to unload 1-800-Contacts unit

January 7, 2014
Bloomberg News
Financial terms of the sale to Boston-based private equity firm Thomas H. Lee Partners LP weren't disclosed. WellPoint paid a reported $900 million to buy the company in June 2012.
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Feds extend Obamacare deadline as customers rush site

December 23, 2013
Bloomberg News
The deadline to enroll in plans that begin Jan. 1 now is midnight Tuesday for most of the U.S. On Monday, healthcare.gov fielded nearly 50,000 simultaneous visitors, triggering a queuing system.
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Insurers give Obamacare enrollees more time for payments

December 18, 2013
Bloomberg News
Consumers who enroll in health plans through the new U.S. exchanges will get 10 extra days to pay their first premiums and still gain coverage effective Jan. 1, an insurance company trade group said Wednesday.
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Costs of rare November storms, tornadoes top $1 billion

December 9, 2013
Bloomberg News
Tornadoes and thunderstorms that swept across the U.S. Midwest last month will probably cost more than $1 billion in economic losses, led by damage in Illinois and Indiana, according to insurance broker Aon Plc.
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IU Health could fall out of network for UnitedHealthcare

December 6, 2013
J.K. Wall
IU Health, the state's largest hospital system, and UnitedHealthcare, the state's second-largest health insurer, have been unable to come to terms on a new set of reimbursement contracts.
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Anthem, insurance trust create Obamacare alternative

December 2, 2013
J.K. Wall
Anthem Blue Cross and Blue Shield has teamed up with the Indiana Manufacturers Association to give small manufacturers an option to side-step one of Obamacare’s new community rating restrictions.
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Indiana says insurers can't reinstate canceled policies

November 20, 2013
J.K. Wall
The state insurance department said Wednesday morning that to do so would "create logistical chaos" and "destabilize" Indiana's individual health insurance market.
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House GOP gets its say on insurance cancellations

November 15, 2013
Associated Press
Republicans renewed an assault on President Barack Obama's health care overhaul and his credibility on Friday as they pushed toward House passage of a measure to let insurers keep selling health coverage that falls short of the law's strict standards.
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Obamacare has many health care insurers worried

November 14, 2013
Bloomberg News
The messy rollout of the insurance exchanges has made it hard for carriers to figure out what business will be like in 2014.
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State: It’ll be Christmas before we can talk to Obamacare website

November 4, 2013
J.K. Wall
Indiana officials don't expect HealthCare.gov to be able to share individual account information with the state’s Medicaid computer systems until the end of the year.
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Baldwin & Lyons' profit falls on smaller investment gains

October 31, 2013
 IBJ Staff
Premiums written by the firm’s insurance subsidiaries hit $96.6 million, an increase of nearly 19 percent over the third quarter a year ago and 4 percent over the second quarter.
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CNO Financial's profit, revenue up in third quarter

October 28, 2013
 IBJ Staff
CNO Financial Group Inc. on Monday reported a third-quarter profit of $283 million, a significant jump from the money-losing quarter it experienced a year ago.
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Insurers brainstorm with Obama staff on health exchange fix

October 23, 2013
Bloomberg News
The heads of WellPoint Inc., Aetna Inc. and at least 10 other insurers met with the Obama administration Wednesday to discuss correcting flaws in how data from the U.S. health-care marketplaces is transferred to the companies.
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Anthem rolls out new bonus system for docsRestricted Content

September 21, 2013
J.K. Wall
The Indianapolis-based health insurer expects to pay, on average, $3.50 per month for every patient enrolled in one of Anthem’s commercial health plans.
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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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