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October 15, 2007
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MHMR Oct. 15, 2007: Volume 15, Number 16
WellPoint’s Watts to resign…AHIP wants SCHIP resolution…MCO profits still risk driven…CareFirst names Burrell CEO…United could drop Part D lives…United expands Evercare…MI HMO net declines 7%...Chart: ’06 MI HMO financials…Aetna buys GoodHealth…NM HMO net rise 72%...Chart: ’06 NM HMO financials…MN HMO profits fall 40%...Chart: ’06 MN HMO financials…HealthSpring buys Leon plan…VA, MD, DC HMO net rises…Chart: VA, MD, DC HMOs…Chart: VA, MD, DC lives…and more…
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WELLPOINT’S WATTS TO RESIGN
WellPoint Inc. (Indianapolis) has announced another management reorganization and the resignation of yet another top executive.
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AHIP HOPES FOR QUICK SCHIP RESOLUTION
America’s Health Insurance Plans (Washington) said it remains hopeful that a compromise will be reached on legislation to fund the State Children’s Health Insurance Program, according to a spokesman.
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MCO PROFITS STILL RISK DRIVEN
Estimates by CIBC World Markets analyst Carl McDonald found that 45% of the earnings of the nation’s largest managed care plans come from commercial risk products.
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CAREFIRST NAMES BURRELL CEO
CareFirst Blue Cross Blue Shield (Owings Mill, MD) has named Chester (Chet) Burrell president and chief executive effective Dec. 1, following an 11-month search for a permanent replacement for William Jews (MHMR, Nov. 15, 2006).
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UNITED SAYS IT COULD LOSE 650,000 PART D LIVES
UnitedHealth Group (Minnetonka, MN) said it could lose 650,000 low-income, auto-enrolled Medicare Part D drug lives—or 11% of its total Part D enrollment—because it is no longer able to offer a zero premium plan option in 18 of 34 regions of the country.
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MI HMOs POST 7% DECLINE IN NET INCOME IN 2006
Michigan HMOs has a 7% decline in net income to $233.5 million in 2006 on revenues of $7.169 billion, up 4.5%, according to an MHMR tally of state insurance department data for 24 health plans.
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AETNA COMPLETES ACQUISITION OF GOODHEALTH
Aetna Inc. (Hartford, CT) said it has completed the acquisition of Goodhealth Worldwide (Hamilton, Bermuda), a provider of individual, small group and mid-sized group health insurance to expatriates, for an undisclosed amount in cash (MHMR, Sept. 15).
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NM HMO NET INCOME INCREASES 72.3% IN 2006
New Mexico HMOs reported a 72.3 gain in net income to $13.6 million on revenues of $1.095 billion in 2006, down 1.2%, according to an MHMR tally of state insurance department data.
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MN HMO PROFITS DECLINE 40.3% IN 2006
HMOs in Minnesota posted net income of $41.7 million in 2006, down 40.3%, on revenues of $5.041 billion, up 8.3%, according to an MHMR tally of state insurance department data.
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HEALTHSPRING COMPLETES LEON HEALTH PLAN DEAL
HealthSpring (Nashville, TN) said it has completed the acquisition of provider-owned Leon Medical Centers Health Plans Inc. (Miami, FL) in a $400 million deal, including $355 million in cash (MHMR, Aug. 31).
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HMOs IN VA, MD, DC INCREASE NET INCOME 21%
HMOs in Virginia, Maryland and Washington, DC, reported a gain in net income of 21% to $557.2 million in 2006 on revenues of $11.599 billion, up 8.1%, according to an MHMR tally of state insurance department data.
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