Insurers

Judge's ruling raises uncertainty for health care execs

February 2, 2011
J.K. Wall
After a federal judge in Florida struck down the entire health reform law, investors shrugged. But the uncertainty for executives in health care companies increased.
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Execs from WellPoint, peers meet to hone health-law lobby

January 31, 2011
Bloomberg News
Top executives from WellPoint Inc. and UnitedHealth Group Inc. are meeting almost monthly with their counterparts from Aetna Inc., Cigna Corp. and Humana Inc. in an informal lobbying alliance aimed at blunting parts of the health-care law, say sources with knowledge of the sessions.
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WellPoint profit better than analyst estimates

January 26, 2011
Bloomberg News, J.K. Wall
Excluding special charges, WellPoint’s profit fell 2 percent to $524.7 million in the fourth quarter from $536 million in the fourth quarter of 2009. But earnings per share improved thanks to stock buybacks.
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IndyCar deal creates series-branded insurance plan

January 5, 2011
Anthony Schoettle
Open-wheel race series signs three-year sponsorship pact with Dallas-based Global Corporate Alliance.
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WellPoint’s New York rate hike to face scrutiny

December 21, 2010
Bloomberg News
WellPoint Inc. and other U.S. health insurers will have to provide justification for any increases to customers’ premiums of more than 10 percent next year, according to federal regulations published Tuesday.
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CNO Financial plans $300 million sale of debt

December 8, 2010
Bloomberg News
Carmel-based CNO Financial Group Inc., the insurer formerly known as Conseco Inc., plans to sell $300 million of seven-year senior-secured notes, according to a company statement.
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Two more WellPoint executives set to depart

December 3, 2010
Associated Press, J.K. Wall
Chief Actuary Cynthia Miller and Chief Strategy Officer Bradley Fluegel—both of whom were prominent during the health reform debate—are leaving the health insurance giant.
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Swing in governors could help WellPoint deal with reform

December 1, 2010
Bloomberg News
Rick Scott of Florida will get another chance next month to derail the law President Obama signed in March when he and 21 other Republican governors-elect are sworn in just as states begin implementing details of the legislation the candidates campaigned against.
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CNO Financial looking to refinance bank loans

November 30, 2010
J.K. Wall
The Carmel-based life and health insurer says it has started discussions with a group of lenders about refinancing $652.1 million in debt.
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Health reform tripping up Indiana wellness incentiveRestricted Content

November 27, 2010
J.K. Wall
Federal health reform will trump an Indiana law that allows health insurers to offer steep discounts to employers with healthy workers and which institute aggressive wellness programs, but experts say other provisions will motivate small firms.
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Health insurance stocks rise after spending rules outlined

November 22, 2010
Bloomberg News
U.S. health insurers, including WellPoint Inc., can include the cost of federal taxes in determining whether they spend enough on patient care, the U.S. Health and Human Services Department said Tuesday.
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Anthem, critics face off over rate-hike request

November 17, 2010
Associated Press
Anthem, a subsidiary of Indianapolis-based WellPoint Inc., is seeking a 19.9-percent raise for 48,000 individual policy holders in Connecticut, citing escalating health care costs.
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State sues WellPoint over data breach

October 30, 2010
Associated Press
The lawsuit filed Friday in Marion County accuses Indianapolis-based WellPoint of violating a state law that requires businesses to provide notification of data breaches in a timely manner.
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Baldwin & Lyons reports lower profit, higher revenue

October 28, 2010
Kathleen McLaughlin
The insurer announced Thursday morning that it earned $9.2 million in the third quarter, down from $14.3 million a year ago. Quarterly revenue rose to $67.3 million, up from $65.5 million.
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WellPoint dismisses highly paid subsidiary CEO

October 25, 2010
Associated Press
Last year, Dijuana Lewis earned a $650,000 salary as one of the insurer's highest paid executives and received a $200,000 bonus in part for helping to lead the sale of the NextRx subsidiary to Express Scripts Inc. for about $4.68 billion.
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Principal Financial shift to result in local layoffs

October 20, 2010
 IBJ Staff
Financial giant Principal Financial Group Inc. is exiting the health insurance business, a move that will cost 60 Indianapolis workers their jobs.
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WellPoint, Aetna led U.S. insurers in coverage denial

October 13, 2010
Bloomberg News
Until all consumers are required to buy health insurance, coverage restrictions are needed to keep people from gaming the system, insurers say.
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WellPoint, other insurers' stock buybacks concern investors

October 12, 2010
Bloomberg News
Indianapolis-based WellPoint Inc. and competing U.S. health insurers approved $10 billion in stock repurchases in the past year, a concern to investors who say buybacks failed to increase share prices and who want more spent on dividends.
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Lucas Oil owners to buy former Hilbert estate

October 6, 2010
Lucas Oil Products Inc. owners Forrest and Charlotte Lucas confirmed they were buying the property for $3 million at a news conference Wednesday afternoon. It will be used for "business activities and community functions."
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Reform will boost health care costs, Indianapolis panel predicts

October 2, 2010
Health care
                           watch videoRising costs aren't the only impact of reform, say panelists taking part in a Power Breakfast sponsored by Indianapolis Business Journal.
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Insurers ordered to appear at Frankfort hearing

September 29, 2010
Associated Press
Major health insurers, including Indianapolis-based Anthem, are being ordered to a hearing to explain why they are eliminating child-only policies.
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Rules mostly falling WellPoint's way

September 29, 2010
J.K. Wall
Health insurers won fairly broad leeway under key rules suggested by state insurance commissioners that will govern what kinds of expenses count toward meeting a new federal threshold to spend at least 80 percent of premiums dollars on medical care.
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Health overhaul's $264M question weighs down WellPoint

September 22, 2010
Bloomberg News
The failure by state regulators to decide how much insurers must spend on patient care is scaring investors from health-plan stocks and complicating insurance company decisions.
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WellPoint gets $87M Medicare contract renewal

September 21, 2010
Associated Press
The company said the Centers for Medicare & Medicaid Services renewed its durable medical equipment administrative contract for a region that covers Illinois, Indiana, Kentucky, Michigan, Minnesota, Ohio and Wisconsin.
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Young & Laramore wins Indiana Farm Bureau account

September 4, 2010
 IBJ Staff
Young & Laramore “will embark on a brand positioning assignment, and will handle all advertising and marketing communications” for the insurance company.
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  1. PJ - Mall operators like Simon, and most developers/ land owners, establish individual legal entities for each property to avoid having a problem location sink the ship, or simply structure the note to exclude anything but the property acting as collateral. Usually both. The big banks that lend are big boys that know the risks and aren't mad at Simon for forking over the deed and walking away.

  2. Do any of the East side residence think that Macy, JC Penny's and the other national tenants would have letft the mall if they were making money?? I have read several post about how Simon neglected the property but it sounds like the Eastsiders stopped shopping at the mall even when it was full with all of the national retailers that you want to come back to the mall. I used to work at the Dick's at Washington Square and I know for a fact it's the worst performing Dick's in the Indianapolis market. You better start shopping there before it closes also.

  3. How can any company that has the cash and other assets be allowed to simply foreclose and not pay the debt? Simon, pay the debt and sell the property yourself. Don't just stiff the bank with the loan and require them to find a buyer.

  4. If you only knew....

  5. The proposal is structured in such a way that a private company (who has competitors in the marketplace) has struck a deal to get "financing" through utility ratepayers via IPL. Competitors to BlueIndy are at disadvantage now. The story isn't "how green can we be" but how creative "financing" through captive ratepayers benefits a company whose proposal should sink or float in the competitive marketplace without customer funding. If it was a great idea there would be financing available. IBJ needs to be doing a story on the utility ratemaking piece of this (which is pretty complicated) but instead it suggests that folks are whining about paying for being green.

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