Companies, including WellPoint, use buybacks to boost stock
Companies have been spending big on buybacks since the 1990s. What's new is the way buybacks have exaggerated the health of many companies.
Insurance
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Insurers’ Obamacare losses may reach $5.5 billion, U.S. says
Health insurers such as Indianapolis-based WellPoint Inc. and Louisville-based Humana Inc. stand to receive $5.5 billion next year to cover losses from Obamacare in a program the law’s opponents label a bailout.
WellPoint dismisses former interim-CEO Cannon
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.
Homeowners in flood zones fear insurance spike
Steep increases are being felt from south Louisiana to New England to Columbus, Ind., are required by the Biggert-Waters Reform Act of 2012. That legislation, signed by President Obama two years ago, set into motion a process designed to start shaving down the flood insurance system's mounting deficit.
Consumers shun cheapest Obamacare exchange plans
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.
Incoming OneAmerica chief has big goals for growth
As Scott Davison steps into the shoes of OneAmerica’s retiring CEO Dayton Molendorp, who led a massive expansion of the company in recent years, he’ll be challenged to keep growing pains at a minimum.
CNO sees higher profit, revenue in fourth quarter
The Carmel-based insurance company reported profit of $106 million, up from $101.2 million in the same quarter of 2012.
IU Health, UnitedHealthcare reach end to contract dispute
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.
Indiana residents slow to embrace health exchange
Residents across Indiana are treading lightly when considering buying health insurance through the federal health exchange as they move toward a March 31 deadline to enroll.
Indianapolis businessman indicted for health care fraud
Ronald Reed, the owner of Benchmark Mobility Corp., allegedly billed the Medicaid and Medicare programs for used wheelchairs, scooters and lift chairs as if they were brand new, obtaining nearly $443,000 in fraudulent sales.
Panel delays vote on bill to require prescription for cold meds
A committee heard two hours of testimony Monday on a bill that would make medicine containing pseudoephedrine a schedule III drug. The committee did not vote.
Molendorp retiring as OneAmerica’s CEO
J. Scott Davison, who was named president of OneAmerica in August, will become president and CEO on April 1.
Obamacare small-biz plan lags as employers stand pat
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.
Many small firms to opt out of health benefits in 2015
Many employers with fewer than 50 workers kept their health plans for 2014, but a growing number say they’ll drop group coverage at the end of this year.
WellPoint raises its 2013 profit forecast
The new forecast roughly matches what Wall Street analysts were already expecting. WellPoint will reveal its actual 2013 financial results on Jan. 29.
3,400 people being added to Healthy Indiana Plan
Family and Social Services Administration Secretary Debra Minott announced Friday the state had culled through an extensive waiting list and accepted the new applicants for coverage.
Group led by WellPoint to partner on global health network
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.
Lawmakers consider state-assisted retirement plan
Senate Bill 66 creates a state-assisted savings plan for retirement. The bill is opposed by the Association of Indiana Life Insurance Companies.
WellPoint seeks more Obamacare biz by extending deadline
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.
WellPoint to unload 1-800-Contacts unit
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.