WellPoint Enters into Strategic Alliance with RLJ Insurance [Professional ...
Will work together to provide medical stop loss products and services to group customers who are seeking to significantly amplify their Minority Business Enterprise (MBE) participation allocation. Stop loss insurance (also called excess loss insurance and sometimes reinsurance) provides protection against catastrophic or unpredictable costs. Under a stop loss policy, the insurance company reimburses the employer for legitimate health claims that exceed certain limits."We are very excited about our new relationship with is a full-service, full- authority managing general underwriter (MGU) dedicated to helping our clients solve their insurance and reinsurance challenges. The ability to be a Tier 1 Supplier Diversity requirement solution is an additive as we realize that without exceptional products, competitive pricing and outstanding customer service, diversity alone doesn't deliver compelling value. Today's announcement further demonstrates the value WellPoint brings to its customers as well as the company's continued commitment to diversity."
Overall, the MIB Life Index has shown stability three years in a row, compared with about five years ago, when the industry was seeing year-over-year decreases, said Lee Oliphant, CEO and president of MIB Group. "The stability that it\'s shown in this difficult economy...bodes well for the industry as it\'s an affirmation that people really recognize a need for life insurance."... The Fed announced that economic conditions are "likely to warrant exceptionally low levels for the federal funds rate at least through late 2014," changing its previous statement in August that the federal funds rate would remain low "at least through mid-2013," said James Gillard, senior managing economist at A.M. Best... Feb. 04-- TALLAHASSEE-- With redistricting, destination casinos and another billion-dollar budget hole dominating the headlines, 2012 was supposed to be a slow year for Republican lawmakers pushing social agendas, special-interest deals and sweeping tax-policy proposals. --A bill pushed by Verizon Communications Inc., Comcast Corp. and other big telecom... Darryl and Jeanna Barrett both college graduates who together earned about $60,000 a year. Blessed with three beautiful daughters, they survived Hurricane Katrina and bought a home in New Orleans, eager to help rebuild their city. Their current income-Darryl\'s Social Security disability and Jeanna\'s unemployment insurance-places them just barely above... Ellsworth Dansby Jr. of Decatur was the second black man to be sworn into the Army Air Force and the first enlisted man in the group to receive the rank of master sergeant during World War II.. Dansby, a graduate of Decatur High School and Millikin University, was perhaps the first to report for duty when the first black aviation unit, the 99th Pursuit Squadron of the... The Consumers Union issued the following news release:. The bill, authored by Senator Landrieu of Louisiana, guts a key protection for consumers that purchase health insurance on their own or receive coverage from a small employer. But this bill would just put that money back into the hands of insurance companies "said Lisa Swirsky, Policy Analyst with Consumers...
Health Insurance Goulet - News
said Ken Goulet, executive vice president for WellPoint's Commercial Business Unit. The Indianapolis-based WellPoint is the nation's largest health benefits company by medical membership. The company has 34 million members in its affiliated health
Under a stop loss policy, the insurance company reimburses the employer for legitimate health claims that exceed certain limits. "We are very excited about our new relationship with RLJ Insurance Services ," said Ken Goulet , executive vice president
We're also focusing our strategy on collaborating with primary care physicians in ways that allow them to thrive in a value-based environment while helping our members manage their health. We've expanded our patient-centered medical home program and
By Steven Goulet Lee Myles, St. Mary's Health System president and CEO, lashed out at Gov. Paul LePage at the Jan. 19 meeting in Lewiston concerning the governor's plan to cut expenses at the Department of Health and Human Services.
On Thursday, the PBGC also noted that it doesn't insure retiree health benefits, which it says are typically canceled when pension plans are terminated. American has yet to disclose what it wants to do with its pension plans.
Insurers profit from health reform
Insurers profit from health reform
By Dina Overland
Fierce Health Payer
After dropping almost $90 million to oppose the health reform law, repeatedly claiming its provisions would raise costs and disrupt coverage, health insurers actually have benefited the most from the law, according to a Bloomberg Government report released Thursday.
The average operating profit margins for the five largest insurers–Wellpoint, UnitedHealth, Aetna, Humana and Cigna–expanded to 8.24 percent in the six quarters since reform, compared to 6.88 percent for the 18 months before the reform law passed, reports Bloomberg.
“The industry that was the loudest, most persistent critic of this law, the industry whose analysts and executives predicted it would suffer immensely because of the law, has thrived,” said Peter Gosselin, study author and senior healthcare analyst for Bloomberg Government.
These prosperous times are largely a result of insurers expanding into government programs, whose share of big insurers’ revenues jumped from 36 to 42 percent in the past three years, The Washington Post reports.
The insurers stand to reap even more benefits as they position themselves to gain from Medicaid’s expansion in 2014, when it covers at least 16 million additional individuals and the federal government subsidizes private insurance policies for an additional 19 million individuals. In fact, insurers can bid on roughly $40 billion in state Medicaid contracts in the next two years, Bloomberg notes.
Private insurers increasingly reliant on government business
By N.C. Aizenman, Published: January 4
Washington Post
Despite the sluggish economy, the nation’s major health insurers have prospered in large part by expanding their role in government programs such as Medicare and Medicaid, according to a study released Thursday.
The share of large insurers’ revenues contributed by their Medicare and Medicaid business has jumped from 36 to 42 percent over the past three years. And the report by Bloomberg Government, a research division of Bloomberg LP, suggests that insurers will further increase their reliance on federal dollars with full implementation of the health-care law in 2014 — when Medicaid will expand to cover an eventual 16 million additional low-income Americans and the federal government will begin subsidizing private-insurance policies for an estimated 19 million more.