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October 15, 2006
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MHMR Oct. 15 2006; Volume 14, Number 17
Humana raises Part D premiums...CMS clears 17 Part D PDPs...2Q06 BCBS lives fall 2%...Chart: 2Q06 BCBS lives...PA HMO net falls in 2005...Chart: PA HMOs...FL HMO net fall 4%...Chart: FL HMOs...OH ABD Medicaid pacts...WellPoint names NY, CA heads...Hewitt sees ’07 rates up 7.7%...FEHB taps reserves...MCO stock rise 3%...Services stocks fall 4%...Chart: ’07 Part D premiums...UnitedHealth, Quest part ways...Healthways, Lifemasters deal off...and more...
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HUMANA RAISES PART D PREMIUMS 47%
Humana Inc. (Louisville, KY), which was by far the low-cost Part D bidder in 2006, has raised premiums for its national Medicare drug plans by an average of 47% to $38.47 in 2007, according to an MHMR analysis of data from the Centers for Medicare and Medicaid Services (Washington).
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CMS APPROVES 17 PART D PDPs FOR 2007
The Centers for Medicare and Medicaid Services (Washington) has approved 17 national stand-alone Medicare prescription drug plans for 2007, up from nine in 2006.
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FL HMO NET INCOME DROPS 3.6% IN 2005
HMOs in Florida reported total net income of $697.6 million in 2005, down 3.6%, on revenues of $15.196 billion, up 4.9%, according to an MHMR tally of state insurance department data.
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WELLPOINT NAMES PLAN HEADS IN NY, CA
In the wake of a management shake-up (MHMR, Sept. 15), WellPoint Inc. (Indianapolis) has named presidents of its Blue Cross of California and Empire Blue Cross Blue Shield operations.
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HEWITT SEES HEALTH PREMIUMS RISING 7.7% IN 2007
The latest study projecting healthcare premium increases for 2007 comes from Hewitt Associates (Lincolnshire, IL), which calls for a 7.7% increase next year, on par with a 7.9% increase in 2006.
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UNITEDHEALTH, QUEST PART WAYS; LABCORP WINS BIG
UnitedHealth Group (Minnetonka, MN) will no longer offer nationwide lab services from Quest Diagnostics (Lyndhurst, NJ), after the two companies failed to negotiate a new contract following a year of talks.
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HEALTHWAYS, LIFEMASTERS TERMINATE MERGER PLANS
Disease management companies Healthways (Nashville, TN) and LifeMasters Supported SelfCare (S. San Francisco, CA) have terminated a planned $307.5 million merger after the companies uncovered a reporting error that affected LifeMasters’ revenues and financial projections. The two companies were unable to come to terms of a revised purchase price.
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MANAGED CARE STOCKS RISE 3%
Managed care stocks rose 3% in the two weeks ended Oct. 13, according to an MHMR tally of 13 issues. Market cap fell 1% to $162.8 billion. The biggest winners included United American, up 38% to $8.05, Centene up 6% to $17.40, and Health Net, up 6% to $46.03.
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MANAGED CARE SERVICES STOCKS FALL 4%
Managed care services stocks fell 4% in the two weeks ended Oct. 13, according to an MHMR tally of 11 issues. Market cap fell 9% to at $54.7 billion. The biggest losers included BioScrip, down 16% to $2.54 and Healthways, down 12% to $39.30.
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