The U.S. Department of Justice said Thursday that the proposed deal for Change Healthcare would hurt competition and give UnitedHealth Group—which is a competitor to Indianapolis-based Anthem Inc.—access to sensitive claims information from competitors.
The health insurer’s profit dropped as patients who hunkered down last year at the start of the COVID-19 pandemic started seeking care again, but growing enrollment in government-funded programs such as Medicaid and Medicare Advantage helped balance the jump in care use.
Enrollment in Medicaid plans that Anthem manages jumped 20%, to about 9.2 million people, compared with the same three months last year. That helped counter a drop in its more profitable commercial coverage, which includes employer-sponsored insurance.
The Anthem Foundation and LISC Indianapolis on Tuesday announced a major initiative to provide more equitable food access, starting with one Indianapolis neighborhood.
The bill pitted the two largest companies headquartered in Indianapolis—drugmaker Eli Lilly and Co. and health insurer Anthem Inc.—on opposite sides of the issue.
More than 250 workers in Anthem’s benefits administration and commercial claims and adjustments divisions won their claims after an investigator ruled in their favor.
Anthem said its forecast for this year includes a hit of between 50 cents and 70 cents per share due partly to the Consolidated Appropriations Act, which passed late last year and includes a one-year hike in Medicare doctor rates.
Food has become a bigger focus for health insurers as they look to expand their coverage beyond just the care that happens in a doctor’s office. More plans are paying for temporary meal deliveries and some are teaching people how to cook and eat healthier foods.
Operating revenue for the Indianapolis-based insurer climbed 16% from the same quarter last year to $30.65 billion. But net income fell to $222 million from $1.18 billion.
Anthem said the settlement closes the last investigation into the hacking, which exposed personal information of nearly 79 million customers.
A Delaware judge on Monday rebuffed efforts by both Cigna Corp. and Indianapolis-based Anthem Inc. to collect billions over their failed merger.
The owner of the 213,600-square-foot office building had hoped to sign a single user for the high-profile property, but its strategy has become more flexible in the year and a half it has remained empty.
Indianapolis-based health insurer Anthem Inc. and its charitable foundation said the investments will reinforce long-standing partnerships with national and community organizations “that are working tirelessly to combat systemic racial inequality and health inequities.”
Anthem Inc. and Humana Inc. became on Wednesday the latest health insurers to stick with their 2020 earnings forecasts, even as the COVID-19 pandemic forces companies in many other sectors to abandon outlooks.
Other big insurers, including Cigna, Humana and UnitedHealth Group, have already rolled out similar moves.
Increasingly, as the planet warms, pressure is building from environmentalists, investors, consumers and the general public for corporate America to do something about it.
Health care stocks led the market’s spurt Wednesday after a strong performance by Joe Biden on Super Tuesday. Among the biggest gainers was Indianapolis-based health insurer Anthem Inc., with a stock surge of 13.4%.
The Indianapolis-based insurer said the former senior vice president and general manager of its Commercial Business division violated terms of his executive agreement by taking a position as president and CEO of Health Net LLC of California.
The Indianapolis-based health care insurer’s earnings more than doubled, to $934 million, in the fourth quarter, compared with $424 million in the same quarter of 2018.
The Indianapolis-based insurer raised its 2019 forecast after attracting more customers covered by Medicare Advantage and Medicaid.
