Universal American Corp (UAM) Barclays Healthcare Conference March 13, 2013 10:15 AM ET
Executives
Richard Barasch - Chief Executive Officer
Unidentified Analyst
We are very pleased to introduce Universal America and CEO, Richard Barasch. The company has jointly undergone a lot of change with the sale of the Part D business and the acquisition of APS and it’s always great to hear Richard’s thoughts. So, without further ado, I’ll turn it over to him.
Richard Barasch - Chief Executive Officer
Thank you. We do have a little action now in our world. I am going to talk about that a little bit, but again just starting off, and I think none of these changes. The one thing I have been saying pretty consistently to investors and other web servers over the past couple of weeks relative to the 45-day notices, yes, this is a problem. It will royal the MA market, if it doesn’t get modified. I think there is some reason to think that we will get some relief on this, but the real issue is we still got to deal with these issues.
Medicare and Medicaid are still enormous. They are not going away. In fact, they are getting even. So, what’s so interesting is there is sort of the conspiracy view that the administration is finally getting its way with Medicare Advantage. I don’t subscribe to that view. I think this was just a series of circumstances that got us to a point of a rate adjustment that kind of everybody realizes too much and there needs to be some sort of stability brought to the market, because there will in fact be a lot of changes in the market if this stays, but this is one year on the way toward a movement that I think is going to happen anyway, which is fundamentally the privatization
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