Wed, Jan. 28, 4:03 PM
- A study done by researchers from New York and Columbia Universities found that premiums were slightly higher for policies offered on state-run health exchanges where there were higher numbers of competitors, precisely the opposite effect that supposedly characterizes more intense competition.
- Overall, average monthly premiums were $5.71 higher per additional insurer (p<0.001). In addition, average monthly premiums were $3.18 higher per additional insurer for identical plans offered.
- The analysis focused on the prices for each unique insurance plan offered on the exchanges in each geographic rating area. The number of rating areas varied widely in the 34 states examined, from only one in NJ, NH and DE to 67 in FL.
- The authors acknowledge that the higher premiums may be due to higher cost areas (urban vs rural) where more insurers are located rather than a lack of competition.
- Related tickers: (NYSE:AFL) (NYSE:AIG) (NYSE:AET) (NYSE:CI) (NYSE:CNC) (NYSE:UNH) (NYSE:ANTM) (NYSE:MOH) (NYSE:HNT) (NYSE:HUM) (NYSE:WCG) (NASDAQ:MGLN)
Dec. 16, 2014, 10:32 AM| Comment!
Oct. 24, 2014, 10:17 AM
- Magellan Health (MGLN +1.3%) Q3 results: Net Revenue: $923.2M (+5.7%); Managed Care: $703M (-8.7%); PBM & Dispensing: $220.2M (+112.8%); Cost of Care: $495.2M (-12.3%); COGS: $202.2M (+107.4%); Net Income: $25.8M (-45.3%); EPS: $1.00 (-41.2%); CF Ops: $194.2M (13.4%).
- 2014 Guidance: Net income: $63M - $77M from $53M - 69M; Segment profit: $243M - $258M from $238M - 258M; CF Ops: $207M - $226M from $204M - 226M; diluted EPS: $2.30 - $2.81 from $1.90 - $2.47; fully adjusted net income: $88M - $102M from $74.5M - $92.5M; adjusted EPS: $3.21 - $3.72 from $2.67 - $3.32.
Oct. 24, 2014, 6:39 AM
Oct. 23, 2014, 5:30 PM
Aug. 26, 2014, 1:55 PM
Jul. 25, 2014, 11:05 AM| 2 Comments
Jul. 25, 2014, 7:07 AM
- Magellan Health (NASDAQ:MGLN) Q2 results: Net Revenue: $888.0M (+5.4%), Managed Care: $682.3M (-8.6%), PBM & Dispensing: $205.7M (114.3%); Cost of Care: $481.6M (-10.4%); COGS: $192.6M (+113.5%); Net Income: $5.0M (-84.1%); EPS: $0.18 (-84.3%); CF Ops: $137.1M (+57.8%).
- 2014 Guidance: Net income: $53M - 69M; Segment profit: $238M - 258M; CF Ops: $204M - 226M; diluted EPS: $1.90 - 2.47; fully adjusted net income: $74.5M - 92.5M; adjusted EPS: $2.67 - 3.32.
Jul. 25, 2014, 6:46 AM| Comment!
Jul. 24, 2014, 5:30 PM
Jul. 3, 2014, 11:07 AM
- Saying that most custom-mixed medicines are either ineffective or overpriced, pharmacy benefit manager Express Scripts (ESRX +0.6%) plans to drop coverage for 1,000 drug ingredients found in compounded meds. The company states that the move will reduce employers' spending on compounded prescriptions by 95%. Express Scripts SVP Glen Stettin says, "What we are eliminating is, pure and simple, wasteful spending. These drugs are being used when there are other things available that are already approved by the FDA and are less expensive." The cuts will take effect on September 15, 2014 unless customers specifically ask to continue paying for them. Firms who want to opt out of the cuts must notify ESRX by Thursday (not sure if this means today).
- Predictably, compounding pharmacists lack enthusiasm for the move saying that it will deprive patients of much-needed medications.
- Related tickers: (UNH +0.7%) (CTRX +0.4%) (BIOS -0.2%) (WLP -0.7%) (AET +0.3%) (CI +0.6%) (HUM +0.2%) (CNC) (WCG +0.3%) (MOH +1.4%) (MGLN +0.5%)
Jun. 16, 2014, 1:37 PM
- Magellan Health (MGLN +0.3%) reconfirms its 2014 guidance that it issued in its Q1 press release on April 29, 2014.
- Revenues: $3.6B - 3.8B; net income: $53M - 69M; segment profit: $239M - 258M; EPS: $1.89 - 2.46.
- Tomorrow, the company will hold an investor conference in New York to present its business strategy and plans to drive long-term growth.
Jun. 4, 2014, 3:58 PM
May. 20, 2014, 6:09 PM
- Magellan Health Services (MGLN -0.1%) drops its appeal of the Arizona Department of Administration's final decision denying Magellan's protest of the award of the New Contract to another bidder. Magellan will also seek the dismissal of its lawsuit currently pending in the AZ Supreme Court.
- Magellan previously managed the behavioral health system for Maricopa County. The State of AZ issued a solicitation for a New Contract to replace the then-current one to be effective October 1, 2013. On March 25, 2013 the State notified Magellan that it had not been selected. In response, the company filed various protests and appeals. On March 14, 2014 the AZ Superior Court dismissed Magellan's claims rendering its motion for preliminary injunction moot.
Apr. 29, 2014, 6:36 AM| Comment!
Apr. 28, 2014, 5:30 PM
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