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Managed Care Companies
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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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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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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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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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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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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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