Minnetonka, Minn.-based UnitedHealth Group anticipates it will cover roughly 1 million fewer consumers through individual insurance plans this year due to its widespread ACA exchange withdrawal — resulting in a $4 billion loss in premium revenues, according to a filing with the…
Payer
The following payers made headlines this past week, beginning with the most recent.
Louisville, Ky.-based Humana will lay off about 500 workers by April 3, as it scales back its home health division's workforce, according to The Enquirer.
A U.S. District Court judge sided with the Justice Department and blocked Indianapolis-based Anthem's proposed $54 billion acquisition of Bloomfield, Conn.-based Cigna on grounds the combined insurer would harm consumers and impede innovation.
St. Louis-based Centene Corp. saw fourth quarter total revenues jump 89 percent in 2016 to $11.9 billion, compared to the same period last year. Centene said the jump primarily reflects the insurer's $6.3 billion acquisition of Woodland Hills, Calif.-based Health Net.
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Chattanooga-based BlueCross BlueShield of Tennessee is growing its Medicare Advantage membership quicker than other insurers in the state, according to a Times Free Press report.
Health plans face a myriad of challenges this year, like waning market stability in ACA health exchanges, looming repeal and replacement of the health law and a surge toward care efficiency.
Texas has the highest rate of uninsured individuals in the nation, followed by Mississippi and Oklahoma, according to a Gallup-Healthways poll.
The five largest U.S. health insurers — Aetna, Anthem, Cigna, Humana and UnitedHealth Group — saw a range of financial results in the fourth quarter of 2016.
Louisville, Ky.-based Humana reported a fourth quarter consolidated revenue of $12.9 billion in 2016, falling 4 percent from $13.4 billion in the same period last year.