Nov. 19, 2015, 3:01 PM
- Medical insurers and managed care providers are taking it on the chin today. UnitedHealth Group (UNH -5.5%) brought the rain with its softer earnings guidance as a result of weaker demand for individual insurance purchased through exchanges. It seems that the premium hikes, which the Affordable Care Act was supposed to curtail, are having their predictable effect.
- Previously: UnitedHealth Group down 6% on lowered guidance (Nov. 19)
- Related tickers: (AET -7.3%)(CI -5.7%)(HUM -4.2%)(CNC -9%)(ANTM -6.8%)(WCG -4.6%)(MGLN -4.4%)(HNT -5.2%)
Jun. 25, 2015, 10:26 AM| Jun. 25, 2015, 10:26 AM | 87 Comments
Mar. 4, 2015, 12:11 PM
- Hospitals rally on comments from Supreme Court Justice Anthony Kennedy, often a swing vote in important cases. He says there is a powerful point to the Obama administration's argument that the Affordable Care Act would fall apart if the subsidies were ruled invalid.
- The Court is currently hearing arguments in the case King v. Burwell, which challenges federal subsidies in states that did not create their own health insurance exchanges. Its final decision will not be announced until June, though.
- Hospitals and health insurers have the most at stake. They have benefited greatly since the law was signed in 2010. To date, 11.4M Americans have signed up for coverage in 2015, giving both groups more paying customers and potentially cutting the number of non-paying emergency room visits. If the subsidies were ruled invalid then many people would drop coverage due to the higher cost.
- Related tickers: (HCA +6.2%)(THC +5.4%)(UHS +2.6%)(CYH +5.4%)(LPNT +3.3%)(SEM -0.9%)(SSY)(HUM +0.1%)(CI -0.4%)(CNC)(MOH +0.3%)(ANTM +0.5%)(UNH +0.3%)(MGLN +0.3%)(WCG +0.3%)
Jul. 25, 2014, 11:05 AM
Aug. 13, 2013, 12:13 PM
- Magellan Health Services (MGLN -1.4%) slips this morning after announcing that it's investing another $17.5M in AlphaCare of New York, a newly licensed Medicaid Managed Long Term Care HMO and Medicare Plan.
- MGLN previously made a $2M equity investment in AlphaCare, in tandem with a $6M loan to AlphaCare Holdings.
- The latest round brings its total investment in the company to $25.5M, representing a 65% stake in the company after the deal closes.
Jun. 21, 2013, 11:08 AM
Magellan Health Services (MGLN -3.6%) says it's withdrawing from Fallon Total Care, its previously announced joint venture with Fallon Community Health Plan. MGLN saying the approved Medicare & Medicaid rates under the demonstration program in Massachusetts were not adequate to fund the expected health care costs. MGLN's 49% interest in the FTC Joint Venture will be transfered to Fallon, and won't have a material effect on guidance for 2013.| Jun. 21, 2013, 11:08 AM
Mar. 25, 2013, 5:56 PM
Mar. 25, 2013, 11:58 AM
Shares of Vanguard Health Systems (VHS -8.44%) take a hit today after the company announced that it had surprisingly lost a contract covering Medicaid patients in Arizona over the weekend. Magellan Health Services (MGLN -4.2%) also takes some of the heat, as it operates a joint venture for behavioral health with VHS in the state.| Mar. 25, 2013, 11:58 AM
Feb. 6, 2013, 1:36 PM
Magellan Health Services (MGLN +1.5%) and Performant Financial Corp. (PFMT +1%) both move higher today after announcing that they have formed a strategic relationship to offer payment integrity recovery services to MGLN's commercial specialty pharmacy customers through Magellan Pharmacy Solutions.| Feb. 6, 2013, 1:36 PM
Dec. 31, 2012, 10:32 AM
Magellan Health Services (MGLN -4.2%) slips this morning after noting in an SEC filing that one of its commercial health plan customers doesn't intend to renew its contract and is going to contract with another behavioral health management vendor. For the previous nine months ended September 30, revenue from the account totaled around $144.5M, however the company doesnt' expect the cancellation to affect its guidance.| Dec. 31, 2012, 10:32 AM
Dec. 11, 2012, 12:45 PM
Jul. 20, 2012, 2:07 PM
Consolidation in the health care sector continues to be the story today, as Magellan Health (MGLN) gains another 3.6% - on the back of yesterday's +8% pop - after saying it's been working with Credit Suisse for months exploring strategic alternatives, including a potential sale. Speculation is that the sale process is now at an advanced stage.| Jul. 20, 2012, 2:07 PM