Fri, May 22, 11:14 AM
- Major health insurers in some states are proposing rate increases of as much as 51% for plans sold under the federal health law, according to a WSJ analysis, setting the stage for an intense debate over the law’s impact.
- All the insurers cite high medical costs incurred by people newly enrolled under the Affordable Care Act, saying their proposed rates reflect the revenue they need to pay claims now that they have had time to analyze their experience with the law’s requirement that they offer the same rates to everyone regardless of medical history.
- Some insurers are trying to catch up with the impact of expensive drugs such as Sovaldi, foreseeing significant pent-up demand from the newly enrolled, says a fellow at the Society of Actuaries.
- Relevant tickers: IHF, HNT, UNH, MOH, CNC, UAM, AET, CI, HUM, HCA, WCG, GTS, EMCI, MGLN
Thu, May 7, 4:54 PM| Comment!
Wed, Mar. 4, 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%)
Mon, Feb. 9, 4:12 PM| Comment!
Sun, Feb. 8, 5:35 PM
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. 1, 2014, 8:18 AM
- Molina Healthcare (NYSE:MOH) subsidiary Molina Healthcare of Florida acquires the Florida Medicaid business of First Coast Advantage, LLC. As a result, First Coast's current 63,000 Medicaid members will transition into Molina Healthcare of Florida as part of the Managed Medical Assistance component of the Statewide Medicaid Managed Care program.
- Financial terms of the deal are not disclosed.
Oct. 31, 2014, 4:53 PM
- Molina Healthcare (MOH +4.6%) Q3 results: Revenues: $2,484.4M (+47.3%); Medical care cost $2,097.8M (+52%); G&A expenses $178.7M (+1.5%); Operating expenses $2,444.6M (+47%); Operating Income: $39.8M (+60%); Net Income: $16.1M (+113%); EPS: $0.33 (+106%); Quick Assets: $1,598.6M (+70.8%); CF Ops: $605.7M (+171%).
- No Guidance given
- Previously: Molina Healthcare EPS of $0.33
Oct. 30, 2014, 5:01 PM
Oct. 3, 2014, 8:00 AM
Sep. 12, 2014, 7:48 AM
Sep. 5, 2014, 8:27 AM
- Molina Healthcare (NYSE:MOH) subsidiary Molina Healthcare of Washington settles two outstanding overpayment matters with the Washington Health Care Authority (HCA) pertaining to claims for psychotropic drugs and claims for plan members under the Washington Community Options Program Entry System (COPES). It agrees to pay ~$19.2M to HCA prior to September 30, 2014.
- HCA agrees to pay Molina Healthcare of Washington $8.0M to settle claims brought by Molina pertaining toe the auto-assignment provision in the parties' contract. Molina expects payment prior to September 30, 2015.
- The settlements resolve all pending disputes between the parties.
Jul. 30, 2014, 5:00 PM
- Molina Healthcare (MOH -1%) Q2 results: Total Revenue: $2,312.0M (+44.0%); Operating Expenses: $2,279.6M (+46.2%); Operating Income: $32.4M (-30.2%); Net Income: $7.8M (-68.3%); EPS: $0.16 (-69.8%); CF Ops: $24.6M (+119.0%).
- Medical care ratio: 89.3% (+3.6%).
- 2014 Guidance: GAAP EPS: $1.65 - 2.15 (unch); non-GAAP EPS: $4.00 - 4.50 (unch).
Jul. 30, 2014, 4:44 PM| Comment!
Jul. 25, 2014, 11:05 AM| 2 Comments
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%)
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Molina Healthcare Inc provides health care to individuals receiving government assistance. It offers cost-effective Medicaid-related solutions to meet the health care needs of low-income families and individuals.
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