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August 31, 2006
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MHMR August 31, 2006; Volume 14, Number 14
’07 Medicare drug bids fall 13%...2Q06 MCO net rises 18%...’07 Premium Outlook...’07 premiums to rise 6.5%...Chart: rate hikes, 1999-07...Premium forecasts, 25 states...Sierra names Bunker COO...Molina names O’Dell CA chief...Meholic to head Aetna PBM...WellCare loses Medicaid pact...UnitedHealth delays 10Q filing...Magellan buys Icore...and more...
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’07 HMO PREMIUMS TO RISE 6.5%
Managed care premium rates will increase 6% to 7% in 2007 after benefit buydowns, according to MHMR’s annual premium survey.
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’07 MEDICARE DRUG BIDS FALL 13%
Stiff competition in the Medicare Part D drug program has driven down the national average monthly bid by 13% to $80.43 in 2007, compared to an average bid of $92.30 in 2006.
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2Q06 MCO NET RISES 18% AT 11 MCOs
Second-quarter 2006 net income for the healthcare operations of 11 publicly traded managed care companies reporting to date rose 18% to $2.311 billion.
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MAGELLAN COMPLETES ICORE HEALTHCARE DEAL
Magellan Health Services (Avon, CT) announced it has completed the previously announced (MHMR, June 30) acquisition of the specialty pharmaceutical management firm Icore Healthcare (Orlando, FL) for $210 million plus a potential $75 million earn-out to Icore owners through 2008.
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UNITEDHEALTH DELAYS 2Q06 10-Q FILING WITH SEC
UnitedHealth Group (Minneapolis), which is under investigation for past stock options granting practices, said it is delaying its second-quarter 2006 10-Q filing with the Securities & Exchange Commission until it completes a previously announced internal audit of its options grants from 1994 to the present.
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