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August 31, 2009
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MHMR August 31, 2009; Volume 17, Number 14
HSA assets top $4 billion…Baucus calls for MCO fees…Baucus offers reform framework…Obama to address nation…Chart: HSA assets, 21 banks…BCBS-MI gets 22% rate hike…WellPoint gets 13-20% rate hike…Baker runs for MA governor…Humana wins WV retiree pact…’10 healthcare costs to rise 10+%...BCBS-IL names Atwood pres….Aetna names Keck to head IR…’10 Part D rates to rise 4.7%...BCBS margins fall 41%...AZ begins open enrollment…Buffet cuts WLP, UNH stakes…Cramer likes WLP, Triple-S…Medco bids for Aetna PBM?...Emdeon IPO Requires Caution…and more…
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BAUCUS PROPOSES $6 BILLION MCO ‘FEE’
Senate Finance Committee Chairman Max Baucus (D-MT) has proposed an 18-page framework for healthcare reform, which suggests a $6 billion annual “Health Insurance Provider Fee” allocated by market share.
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OBAMA TO ADDRESS NATION ON REFORM
President Obama will address the nation on healthcare reform before a joint session of Congress to outline a new strategy to counter opposition to health reform, including potential areas of compromise.
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AETNA REPORTS 95% SPECIALTY DRUG ADHERENCE
Aetna Inc. (Hartford, CT) reported that average adherence to specialty drug regimens among its members topped 95% through the first six months of 2009. Aetna analyzed adherence for members with eight medical conditions: Multiple sclerosis (95.3%), Rheumatoid arthritis (94.7%), HIV (97%), Crohns (95.7%), Pulmonary Arterial Hypertension (97.2%), Hepatitis C (97.4%), Psoriasis (94.3%), and Asthma (93.4%).
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BCBS-MI REACHES COMPROMISE ON INDIVIDUAL RATE HIKES
Blue Cross Blue Shield of Michigan (Detroit) announced a tentative compromise with state regulators, which would result in premium rate increases averaging 22% for 190,000 individual health plan members.
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WELLPOINT GETS 13-20% INDIVIDUAL RATE HIKES IN CT
Connecticut regulators approved 2010 individual health plan rates increases of 13% to 20% for WellPoint in Connecticut, which is lower than the company’s original request of price hikes in the 22% to 30% range.
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BAKER FILES TO RUN FOR MA GOVERNOR
As expected, Charles Baker, who left his position as chief executive of Harvard Pilgrim Health Care (Wellesley, MA) last month, formally filed to run for the Republican nomination for governor of Massachusetts.
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HUMANA WINS WV RETIREE CONTRACT FROM COVENTRY
Humana Inc. (Louisville, KY) has won the contract to provide its Medicare Advantage health plans to the state of West Virginia’s 36,000 eligible retirees and dependents effective Jan. 1.
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BCBS-IL NAMES ATWOOD PRESIDENT, BOULIS TO RETIRE
Health Care Service Corp. (Chicago) has named Karen Atwood president of the company’s Blue Cross Blue Shield of Illinois operation, replacing the retiring Paul Boulis effective Nov. 1. Atwood is currently senior vice president of the company’s national division, with 350 clients and more than 4 million members. In total, BCBS-IL serves more than 7 million lives.
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AETNA NAMES KECK HEAD OF INVESTOR RELATIONS
Aetna Inc. (Hartford, CT) has named Kim Keck head of investor relations, replacing Jeffrey Chaffkin, who is leaving the company. Keck, who reports to Aetna chief financial officer Joseph Zubretsky, has been with the company 20 years and recently headed up the treasurer’s, controller’s, actuarial and tax organizations.
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’10 MEDICARE DRUG PLAN RATES TO RISE 4.7%
The Centers for Medicare & Medicaid Services announced a 4.7% increase in average reimbursement levels for Medicare drug plans for 2010 and has also taken measures to reduce member churn.
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AZ ADDS AETNA, CIGNA; BEGINS OPEN ENROLLMENT
The State of Arizona has begun open enrollment of its 135,000 members for the 2009-10 plan year, featuring an expanded offering of health insurance options including Aetna, Cigna and UnitedHealth.
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BUFFETT CUTS STAKE IN WELLPOINT, UNITED
Warren Buffett has cut way back on his holdings in health plan stocks, selling 1.3 million shares of WellPoint (27% of his stake in the company) and 1.1 million shares of UnitedHealth (24% of his stake), according to a CRG analysis of filings with the Securities & Exchange Commission. Buffett still holds 3.5 million shares of WellPoint and 3.4 million shares of UnitedHealth.
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CRAMER LIKES WELLPOINT, TRIPLE-S
After stating five months ago that HMO stocks “are ruined,” Mad Money host Jim Cramer now likes WellPoint and Triple-S Management.
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