Portland, Ore.-based Providence Health Plan, a division of Renton, Wash.-based Providence, has laid off about 4% of its workforce due to “strong financial headwinds and challenges” over the last year, a spokesperson for the organization told Becker’s. The 4% reduction translates…
Payer
Blue Cross Blue Shield of Vermont is taking steps to shore up its finances in the face of unprecedented challenges, VTDigger reported May 7. In July 2024, BCBS Vermont said it was in a “fragile financial state,” in the face…
The salary of a Blue Cross Blue Shield CEO can vary significantly depending on factors such as company size, location, recent growth, and internal pressures. Some BCBS companies include executive compensation data within their annual financial reports, which are filed…
A group of Democratic lawmakers is urging Republicans to turn their attention toward Medicare Advantage to cut healthcare spending. In a letter to Senate Majority Leader John Thune and House Speaker Mike Johnson, 36 members of Congress urged leaders to…
The first half of the year has been challenging for major insurers, with disappointing financial results, market exits, and pulled products. In contrast, smaller, often single market-focused payers have seen a surge in revenues and continued growth in membership. Some…
Advertisement
Aetna’s exit from the individual market is both “sad” and an “opportunity” for Oscar Health, CEO Mark Bertolini told investors. In May, Aetna said it would exit the individual exchange at the end of 2025. The exit will leave around…
Insurers are employing different strategies to manage the high cost of GLP-1 drugs. In May, CVS Health announced a partnership with Wegovy manufacturer Novo Nordisk. CVS Caremark will use Wegovy as the preferred GLP-1 medication for its largest commercial formulary.…
Alabama Gov. Kay Ivey has signed legislation that will allow nonprofit agricultural organizations to offer health benefits in a format that would be exempt from the state’s insurance regulations, a move highly criticized by BCBS Alabama. While not classified as…
A proposed class action lawsuit has been filed against UnitedHealth Group, its CEO Andrew Witty, and CFO John Rex, alleging that the company misled investors about its corporate strategy in the aftermath of the December killing of UnitedHealthcare CEO Brian…
The Musculoskeletal Crisis: Costly, Complex, and Persistent Musculoskeletal (MSK) conditions account for nearly $1 in every $6 spent on healthcare in the United States. Beyond the staggering costs, these conditions profoundly impact people’s daily lives, limiting mobility, productivity, and overall…