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State freeze pushes nursing care at home: FSSA clamps down on the addition of Medicaid beds

Indiana regulators have put a temporary freeze on the addition of Medicaid beds to nursing homes, as part of their push to shift care out of institutions and into patient homes. The state Family & Social Services Administration enacted a 90-day rule starting Dec. 15. While it’s in place, the state agency won’t sign the Medicaid nursing facility provider agreements needed to add beds unless they fit within narrow exceptions. In addition to imposing the temporary rule, FSSA Secretary Mitch…

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Conseco could land upgrade by midyear: Analysts see positive signs for Carmel insurer

Conseco Inc. by mid-2006 may earn a coveted ratings upgrade from A.M. Best Co., an achievement likely to bolster the Carmel-based insurer’s sales, analysts said. Best probably will dole out the financial-strength upgrade in the second quarter, after the New Jersey-based firm reviews Conseco’s final 2005 financial results, said Jukka Lipponen, a Connecticut-based analyst for Keefe Bruyette & Woods. “We believe as management continues to deliver on its expectations and once Conseco receives the A.M. Best upgrade … investor patience…

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Clarian nabs UAC building: Hospital network wins bid for former corporate headquarters

Clarian Health Partners is polishing a deal to buy the former Union Acceptance Corp. headquarters on North Shadeland Avenue, a move that plants a large footprint for the burgeoning hospital network squarely in a competitor’s east-side back yard. Clarian made the winning bid for the 126,000-square-foot building at a Nov. 15 auction, but the sale had not closed as of Nov. 30, said Bob Getts of Colliers Turley Martin Tucker, which ran the auction. He referred all questions to Clarian….

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Water treaty on tap: Mediated agreement calls for Carmel to pay Indy $36.2M

Carmel and its big-city neighbor to the south have a truce in hand to end a 3-1/2-year war over what Carmel will pay to buy Indianapolis-owned water distribution lines serving 6,000 customers in the Hamilton County community. The proposed purchase price: $36.2 million, according to documents recently filed with state regulators. Carmel officials say the deal eventually should improve water pressure and lower fire insurance rates, and make it easier to plan for growth. It also would give affected residents…

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Health discount cards spark call for regulation: State insurance group leads registration push

Some health care discount programs that can leave patients stranded with large medical bills have put Indiana insurers in the strange position of asking for more government regulation. The Indiana Association of Health Underwriters plans to lobby in the upcoming legislative session for a bill that requires companies offering health care discounts to register with the state. That would allow regulators to investigate complaints and pursue regulatory action if troubles arise with the discounts, said Shawn Gibbons, a board member…

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Industry races to promote itself: Statewide motorsports group hopes to thwart competition from other U.S. markets

Area motorsports leaders are gearing up for another run at unifying the industry and assuring the region retains its status as one of the world’s leading motorsports markets. Organizers of the latest effort promise they won’t spin their wheels this time around. They’re casting a wider net-going statewide with a motorsports association-to attract more members and build more clout with the media, local and state lawmakers, and service providers, such as banks and insurance companies. The Indiana Motorsports Association Inc….

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Health care: big problem for small business: Wyoming lawmaker’s proposed legislation could end 10-year Senate impasse on controversial solution

More than 45 million Americans lack health insurance. And more than half of them are employed or dependent on someone who works for a small business, according to the National Federation of Independent Business. It’s a big problem-especially in Indiana. Between 2000 and 2004, 5.6 percent of Hoosier workers lost employer-provided health care, according to the Economic Policy Institute. That’s a higher percentage than any state except Wisconsin. Legislation just introduced in Congress by Wyoming Sen. Michael Enzi, however, may…

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INVESTING: Annuities have a bad reputation, but some are golden

The concept of an annuity has been around a few thousand years. Wealthy Roman citizens would often establish these longterm income streams for their children so they wouldn’t have to work. The tradition carried through to the British Empire, as rich parents crafted plans to take care of their spoiled kids. Annuities are popular in America today, although the reasons are somewhat different. For a long time, the IRS has treated the deposit of funds into an insurance company as…

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Merry Realty Inc.: Big plans for small firm Real estate agency tries to win business by teaching buyers rules of the game

Real estate agency tries to win business by teaching buyers rules of the game Large agencies may dominate the residential real estate game, but Indianapolis-based Merry Realty is trying to prove a small player still can make a big name for itself. For years, Merry Realty has focused its efforts on properties in Indianapolis, but it is rapidly expanding into a more diverse market, targeting booming areas like Hamilton County while staying loyal to its inner-city roots. Real estate broker…

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INVESTING: To do well in market, study sectors’ relative strengths

You’re cool. You wear hip clothes. You get invited to the best parties. You drive the most popular car. Most of the time, you measure how cool you are by looking around and seeing what other people are doing. You don’t want to be the only person at the restaurant or the only one at the game. The same concept is true in the stock market. Investors want to own the hot stocks. A stock gets hot because it is…

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Standard Life sale leads to lawsuit over price: Kentucky buyer claims $652,000 refund is owed

Standard Management Corp. last week disclosed a new round of financial challenges and was hit with a lawsuit by a Kentucky company that bought its Standard Life Insurance subsidiary earlier this year. Louisville-based Capital Assurance Corp. accuses Standard Management of breaching terms of the contract to sell Standard Life and seeks a $652,126 refund, according to the lawsuit filed Nov. 14 in federal court in Indianapolis. Standard claims it owes only $43,000 in what it deems a “purchase-price adjustment dispute,”…

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Higher stadium price looms: Hurricanes likely to blow up costs for construction projects

The Gulf Coast hurricanes may push construction costs sharply higher for several years, experts say, potentially adding millions of dollars in costs to the $625 million football stadium as well as other public projects in their early stages. “Even a 1-percent cost increase on a project like [the stadium] is significant, and the effects from these hurricanes is likely to be higher than that,” said Patrick Barkey, an economist and director of economic and policy studies at the Miller College…

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BEHIND THE NEWS: Hilbert’s next act: Jumping into private equity game

Stephen Hilbert suffered another legal defeat last week. But don’t bet the founder and ex-CEO of Conseco Inc. is sitting around feeling sorry for himself. In fact, this fall Hilbert, 59, is quietly launching a major new business, one that will get him back into the acquisition game, a field he savored during his two decades atop Conseco. Details are sketchy, because Hilbert isn’t talking. But here’s what a little snooping turned up: Attorneys in July filed papers with the…

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INVESTING: Use tax laws to your advantage, but don’t go overboard

Taxes may be one of two guarantees in life. But that doesn’t mean we have no control over how much we pay. History shows we’ll go to great lengths to trim our tax bill. Since the U.S. government enacted the income tax shortly before World War I, Americans have been changing their behavior to avoid paying taxes. In most cases, people act in ethical and legal ways because the government creates a tax incentive to do certain things. IRA retirement…

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Movements in midtown may mean more housing, retail: Handful of developers take on North Meridian projects

“It’s just a matter of time.” At this point, the statement may reflect more hope than reality. The city’s main corridor is a concrete jungle through much of midtown, filled with parking lots, for-sale signs and buildings exhibiting nearly nonexistent design standards. However, a small-butgrowing number of developers is showing interest in revitalizing the main corridor through midtown. One of the newest plans would create a mixed-use development at 21st and Meridian streets called Meridian at 21. Local businessman Jeffrey…

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NOTIONS: An interdependent interaction with Bill Clinton

A few months ago, Butler University announced that former presidents Bill Clinton and George H.W. Bush would be among the speakers appearing on its Indianapolis campus during the school’s 2005-2006 sesquicentennial celebration. Within hours of the news breaking, my niece, a Butler junior and political science major, sent an e-mail asking if I’d like to join her for the first of these appearances, the one by Clinton on Nov. 8. Having long ago rounded up my fellow neighborhood kids for…

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Health Care Crusade: Physicians push for universal health coverage in Indiana

ome heart muscle had already died by the time family members coaxed the 50-something uninsured man into visiting Bloomington Hospital a few weeks ago. The patient had suffered severe chest pains two days before his hospital visit but didn’t seek treatment, said Dr. Rob Stone, an emergencyroom physician there. “It was clearly because he was afraid of the bill,” Stone said. By the time he made it to the hospital, the man was suffering a second heart attack. Now he…

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EYE ON THE PIE: Don’t let a little suffering wreck holidays

I drove past the shrine at Clark and Addison in Chicago the day after the White Sox won the World Series. All was normal outside Wrigley Field. There was no evidence of the momentous event in Houston the night before. The White Sox and their fans do not exist for Cubs fans. There is an order to the world. For Hoosiers, people from Kentucky generally rank lower than folks from Pennsylvania. Yet we know Hoosiers don’t rank highly in the…

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Doctor group spreads its reach across state: American Health Network sees big growth in 2005

American Health Network started 2005 with no presence in the cancer-fighting field of oncology. Now the Indianapolis-based doctor network boasts the largest medical oncology practice in the state, said Dr. Ben Park, its president and CEO. Within the past several months, Park has watched his network add oncology practices with 32 locations across the state, 10 family physicians in Muncie, and a $4 million Fishers Medical Arts Building, built in partnership with Indianapolisbased OrthoIndy. He expects to see more growth….

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State revamps health coverage: New health savings accounts and high-deductible policies could help stem rising costs

Indiana state government will unveil a fresh approach to insurance coverage next year when it offers health savings accounts to its 33,000 employees and their dependents. The state wants employees to take more control of their health care and consequently harness spiraling costs, Personnel Director Debra Minott said. The high-deductible AnthemBy-Design plan it chose to accomplish that will be offered as one of five coverage options during an open enrollment that starts Oct. 31. “We really see a looming crisis…

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