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Managed Care Companies
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BCBS-NC CONTINUES PLANNED NET INCOME REDUCTION
Not-for-profit Blue Cross Blue Shield of North Carolina (Chapel Hill, NC) reported a 13% decline in net income to $90.1 million through the first six months of 2005, compared to the same period a year earlier.
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HARVARD PILGRIM ENJOYS STRONG 2Q05 PROFIT GAINS
Harvard Pilgrim (Wellesley, MA) reported second-quarter net income of $18.3 million on revenues of $551 million, compared to net income just $3.2 million in the same period a year earlier.
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WELLPOINT NAMES ELDER PRESIDENT OF PBM OPERATIONS
WellPoint Inc. (Indianapolis) has named Renwyck Elder president of pharmacy benefit management, with responsibility for expanding the company’s PBM products, services and capabilities. Elder was most recently with AdvancePCS (now Caremark).
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WILL THERE BE A PART D ROI?
The national average monthly bid for Medicare Part D plans came in at $92.30, according to the Centers for Medicare & Medicaid Services, below initial expectations, suggesting the potential for stiff price competition and in some cases strained margins among drug plans.
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’06 HMO PREMIUMS TO RISE 8%
Managed care premium rates will increase about 7% to 9% in 2006 after benefit buydowns and perhaps even lower, according to MHMR’s annual premium survey.
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