Advertisement

Payer

Health insurer Humana has halved its expectations for the health insurance exchange open enrollment period and predicts federal officials will push back the sign-up deadline because of technical issues with the federal exchange site, according to a Reuters report.

The nation's five largest investor-owned health insurers totaled nearly $80 billion of revenue combined in the third quarter of fiscal year 2013, pocketing about $3.7 billion of that amount in profit.

Advertisement

Health insurer Humana's third-quarter net income decreased 13.6 percent, from $426 million in 2012 to $368 million this year.

Many health insurers are cancelling individual insurance plans because the policies aren't "grandfathered" and don't meet PPACA requirements, according to the trade group America's Health Insurance Plans.

Medicare inappropriately paid $23 million for services recorded as rendered after beneficiaries had died, despite CMS safeguards meant to prevent such payments, according to an HHS Office of Inspector General report.

Advertisement